Data management and analysis software provider WANdisco (LON: WAND) has won its largest ever contract with a major telecoms company that is an existing client. The shares rose 10% to 296p. The agreement is valued at $11.6m – $5.8m in advance – and takes the total value of contracts with the customer to $14.3m. The software will be used to move smart meter data to multiple cloud providers. WANdisco remains heavily loss-making so the additional cash will be useful. Last year, the cash outflow from operating activities was $28.2m and there was $5.76m of capital investment. There was $27.8m in the bank at the end of 2021, with a further $19.8m raised at 270p a share earlier this month.
Investors have been excited by a deal that Symphony Environmental Technologies (LON: SYM) has made with North American bread supplier Grupo Bimbo. The potential for the deal pushed the share price up 17.2% to 18.75p. The supply deal for d2p antimicrobial technology for use in the production of bread bags is for an initial period of three years. The new bread bags are already being produced. This follows successful legal action in Peru to get the government to differentiate between Symphony’s ox-biodegradable products and oxo-degradable products, which leave behind microplastics.
Shares in MS International (LON: MSI) rose 8.3% to 300p after it announced a 12% increase in the total dividend to 9.25p a share. In the year to April 2022, the defence and engineering products supplier improved pre-tax profit from £1.59m to £5.97m. That included a £1.19m settlement for a contract dispute, although there were £600,000 of legal expenses in overheads.
Jangada Mines (LON: JAN) warns that its Pitomberias vanadium project in Brazil could require more cash. This means that the 100%-owned project may not start production this year. A decision should be made on sourcing the funding within three to nine months. The project has an NPV8% of $96.5m. The share price slumped 23.7% to 3.55p. At the end of December 2021, Jangada Mines had £3.5m in the bank and since then $650,000 has been raised from the sale of ValOre shares.
Oil and gas explorer Providence Resources (LON: PVR) has regained all its share price decline after it announced a proposed fundraising at a 35% discount to the previous day’s closing price. Today, the share price is up 25% to 2.75p, having been as low as 1.8p last week. Providence is raising $1.8m at 1.5p a unit (one ordinary share and one warrant exercisable at 1.5p). The cash will be spent on working capital and fund Providence’s lease undertaking application for Barryroe, which is an offshore field south of Cork.
Bango (LON: BGO) has signed its second agreement in less than one week. Bango shares rose 10.9% to 159.75p. The latest is with Spanish language programming-focused US network TelevisaUnivision Inc, which is licensing the Bango payments platform for its OTT subscription service ViX+, which will be offered around the world. Last week’s agreement was with an unnamed multinational technology company, which will use the Bango platform for carrier billing and bundling services for app store payments and subscription services. Prior to that announcement, the share price was 126.5p.
