Helium One Global (LON: HE1) has bought an Epiroc Predator 220 drilling rig so that it can start drilling the Tai-C well at the Rukwa site in Tanzania by September. An experienced crew will be required for this. Costs will be higher as they will no longer be shared with Noble, which has made its own arrangements. The share price rebounded 92.2% to 9.8p, which is the highest it has been for more than one year.
Deltic Energy (LON: DELT) has reported an increased recoverable resource of 99mmboe for Pensacola oil and gas prospect, where it has a 30% working interest. Canaccord Genuity has increased its gross unrisked Pensacola NPV10 value from $450m to $840m. Deltic Energy is likely to farm-down its working interest from 30% to 20% and that would fully finance two wells. Canaccord Genuity has raised its target price from 205p to 240p. The share price increased 80.2% to 41p.
STM Group (LON: STM) has received a potential cash offer of 70p/share from pensions company PSF Capital GP II Ltd. The cross border financial services provider has agreed in principle to this offer. The share price has not been that high for five years. There are a number of regulatory hurdles that will have to be negotiated before the bid can be completed, so even if a bid is announced it may take a while to go unconditional. The share price jumped 74.1% to 47p.
Healthcare investment company Intuitive Investments Group (LON: IIG) is calling a general meeting and publishing a prospectus to enable a move from AIM to the Specialist Funds Segment of the London Stock Exchange. Existing shareholders are being offered the chance to realise some or all of their shareholding through a tender offer for 17.4% of the share capital at 5.25p/share. This could cost up to £675,000. The investment strategy will be adapted. The share price is 50% ahead at 7.5p.
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Fallers
Fiinu (LON: BANK) has not been able to raise the cash it requires to reapply for a banking licence. Fiinu has completed the development of the Plugin Overdraft. Costs will be reduced in the company’s subsidiaries. There was cash of £4.3m at the end of June 2023. This is enough to scale down the operations and meet financial obligations. Fiinu will try to secure the finance it requires but it may end up selling the underlying business. The share price dived 69.4% to 1.95p, which is an all-time low.
Zoo Digital (LON: ZOO) has been hit by the screenwriters’ strike in Hollywood in the first quarter. They went on strike during the period and the film actors started a strike at the end of the week. On top of this, major streaming clients have been reducing spending because of the losses being made by the services. This has cut demand for translation and other services. Zoo did better than expected in 2022-23 because of a change in accounting policy, but the pre-tax profit forecast for the year to March 2024, has been slashed from $10m to $3.3m. The Zoo Digital share price dipped 43.8% to 66p. Facilities by ADF (LON: ADF) shares have also fallen 16.8% to 46.2p on the back of the latest strike announcement. It provides facilities for TV and film productions, which were still shooting existing scripts but are likely to stop production now that the actors are on strike. This depends on their contracts.
IP Group has reduced its shareholding in Mirriad Advertising (LON: MIRI) from 14.4% to 10.6%. The share price fell 36.7% to 1.425p.
Totally (LON: TLY) increased full year pre-tax profit from £1.3m to £1.8m but the healthcare services provider warns that this year will be tougher. The total dividend has been cut from 1p/share to 0.625p/share. The main growth is coming from elective care services, where Totally is helping the NHS to reduce waiting lists. The loss of four contracts hit urgent care revenues and a lack of new tenders means that it will be difficult to rebuild them. David and Monique Newlands have reduced their shareholding from 5.14% to 3.2%. Trafalgar Capital Management edged up its stake from 2.9% to 3.1%, while Stonehage Fleming raised its stake from 11.96% to 12.2%. The share price declined 30.1% to 11.875p.
