Yulia Kirianova has stepped down from the board of oil and gas company Enwell Energy (LON: ENW). Interim chief executive Oleksiy Zayets has joined the board as appointee of Smart Energy (CY), which has a 6.95% stake. He has held the role of interim chief executive since March and has been with the company since 2018. The share price increased 13.1% to 26.75p.
Cyber security software supplier Intercede Group (LON: IGP) has launched a £1m share buyback programme. This has been prompted by the uncertainty around the tax incentives for AIM shares. The programme will last until the end of 2024 or when the money is spent.The share price rose 6.69% to 167.5p.
Prospex Energy (LON: PXEN) recently acquired a 7.2365% working interest in the onshore Spain Viura gas field, which recommenced production last week. The Viura 1B development well has encountered significant gas shows in the Utrillas-A reservoir and a new gas bearing reservoir interval below that. The well, which cost Prospex Energy €375,000, could contribute to production in November Flow testing results for the deeper reservoir will be available next year. There should be a significant upgrade to recoverable reserves. The European gas price is rising. The share price edged up 2.63% to 5.85p, having been above 6p earlier in the day.
Diagnostics company Oxford BioDynamics (LON: OBD) says that there has been a study published on the Covid Severity Test using its EpiSwitch platform. It shows a high positive predictive value for high-risk diseases outcomes, including two cases previously declared as mild. The share price improved 3.88% to 1.34p.
FALLERS
Adams (LON: ADA) is proposing the cancellation of the AIM quotation and sell off the company’s investments, many of which are also quoted on AIM, to return the cash to shareholders. Prior to this Adams will be buying back shares at 4p each. The estimated NAV is 3.72p/share. Liquidity is limited because Richard Griffiths owns 94% of Adams. A general meeting will be held on 27 November and, if passed, the cancellation will be on 5 December. The share price dipped 10% to 4.5p.
Youth digital health services provider Kooth (LON: KOO) says that a newsletter has underestimated the uptake of its services in California. The report led to a fall in the share price. The service commenced in January and awareness and uptake is still building up. Expectations for 2024 and 2025 are unchanged. The share price still slipped 6.53% to 164.5p.
Kestrel Partners continues to build up its stake in IT managed services provider Redcentric (LON: RCN) and it has been buying shares at 120.73p/share. The stake is 20.7%. Oliver Scott represents Kestrel on the Redcentric board. The share price declined 5.81% to 109.5p.
Existing shareholders in management consultancy Elixirr International (LON: ELIX) have sold 3.85 million shares at 650p each. The sellers include all six directors and other employees of the company. The share price fell 6% to 658p.