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Proactive news headlines: 88 Energy, Pembridge Resources, CentralNic, Chaarat Gold …

88 Energy Limited (LON:88E, ASX:88E) shares jumped higher on Friday as the firm reported the finding..

88 Energy Limited (LON:88E, ASX:88E) shares jumped higher on Friday as the firm reported the findings of final petrophysical analysis of the Charlie-1 well exploration, revealing greater hydrocarbon pay than previously estimated. According to 88 Energy, the wells net pay is significantly increased by the additional work and the largest additional contribution was in the Lima discoveries which are in the Seabee formation. The new analysis follows Premier Oils exit from the venture. The Upper Lima section is now estimated to have some 250 feet of net pay, versus initial estimates of just 8 feet, whilst the Lower Lima section is now seen to span 111 feet of net pay compared to the earlier estimate of 64 feet.

Pembridge Resources PLC (LON:PERE) shares rose on Friday after the group said its subsidiary, Minto Explorations Limited, has secured a prepayment funding facility with its copper concentrate offtake partner, Sumitomo Canada Limited. The company said the pre-pay facility of up to US$12.5mln is additional to Mintos existing offtake agreement, under which Sumitomo makes an advance payment of 90% of the value of concentrate output each month, with Pembridge noting that the facility represents a “further development” in Mintos relationship with Sumitomo.

CentralNic Group PLC (LON:CNIC) said it has agreed to acquire two businesses, Zeropark and Voluum known collectively as Codewise, for US$36mln (£28mln) in a move it says will expand its monetisation segment. In an announcement after the close on Thursday, the internet domain name specialist said the Codewise companies provide services to domain name owners and website operators so that they can generate recurring income from the monetisation of traffic to their websites, as well as tools for online marketers to acquire traffic and customers and to manage and optimise their online marketing activities. CentralNic said the acquisition will help it build market share and is expected to be “significantly earnings enhancing with immediate effect”. To help finance the acquisition, CentralNic said in a separate announcement on Friday morning that it has successfully raised £30mln in a “significantly oversubscribed” private placing of 40mln shares at a price of 75p each, a 6% discount to its closing price on Thursday.

Chaarat Gold Holdings Limited (LON:CGH) has said it is “on track” to deliver its full-year production guidance for its Kapan gold mine in Armenia, noting that the run of mine grades at the project have improved over the last two months. In a post-period statement accompanying its results for the six months ended June 30, 2020, the company said Kapan is still expected to deliver 55,000 gold equivalent ounces in the year, while grades at the mine improved in July and August and are now expected to be above levels seen in the first half for the rest of the year. Chaarat said these improved grades were the result of targeted development work carried out in the year to date which focused on “identifying higher grade ore blocks that require minimal development”.

Genel Energy PLC (LON:GENL) has revealed its intention to raise up to US$300mln in debt financing, to replace an existing bond that is set to mature in December 2022. It is looking to issue a new five-year bond and said it has engaged Pareto Securities to organise a roadshow with international credit investors. Genel noted that it had over US$350mln of cash at the end of August, with net cash stated at US$55mln.

Belvoir Group PLC (LON:BLV) has said the accelerated bookbuild for the placing of to 2mln ordinary shares to institutional investors by its former chairman has now closed, with the shares sold at 150p each. The stock is being sold by Mike Goddard, Belvoir's founder as well as former chairman, and represents approximately 5.7% of the property franchise's issued share capital.

ImmuPharma PLC (LON:IMM) has provided an update regarding its submission to the US Food & Drug Administration (FDA) of a Special Protocol Assessment (SPA) for Lupuzor's Phase III trial in Lupus patients. In a brief statement, the specialist drug discovery and development company said that, in discussions, Avion Pharmaceuticals, its licensing partner for Lupuzor, has confirmed that, whilst the review period by the FDA for an SPA request is normally up to 45 days – which has now passed – Avion has as yet not received a response from the regulator and as such the file is still in the review queue, due to the current workload at the FDA. ImmuPharma said it will provide an update to the market as soon as Avion has received a response from the FDA and the company has been notified.

Blue Star Capital PLC (LON:BLU), the investing company with a focus on esports, technology and its applications within media and gaming, announced that it has allotted 100,000,000 new ordinary shares of 0.1p each in the company following an exercise of warrants at an exercise price of 0.1p each, providing the company with proceeds of £100,000

Power Metal Resources PLC (LON:POW), the AIM-listed metals exploration and development company said it has received a notice to exercise warrants over 2,250,000 new ordinary shares of 0.1 pence each in the company. It noted that subscription monies of £22,500 have been received by Power Metal in respect of the exercise.

Adamas Financial Asia Limited (LON:ADAM) said that further to its announcement September 7, 2020, it has been advised that there has been a further delay in the receipt of the remaining subscription monies under its recent funding. It added that it expects the remaining subscription monies from placees to be remitted over the course of the next few days.

NextEnergy Solar Fund Limited (LON:NESF) announced that, at the annual general meeting of the company on Friday, all resolutions put to the meeting were approved by shareholders.

ReNeuron Group PLC (LON:RENE), a global leader in the development of cell-based therapeutics, announced that all resolutions put to shareholders at its annual general meeting held on Thursday were duly passed.

Oncimmune Holdings PLC (LON:ONC), the leading global immunodiagnostics group said it has put in place a new incentivisation scheme for its senior management, with options to subscribe for an aggregate of up to 4,510,509 ordinary shares of £0.01 each in the Company granted on September 10, 2020, to each of Meinhard Schmidt, its chairman, Adam Hill, chief executive officer, Matthew Hall, chief financial officer and Ron Kirschner, general counsel and company secretary. The options granted under the new scheme each have an exercise price of £0.01 and will vest based on the company's share price during the course of the next three years, between £2.00 and £3.50 which the group said aligns directly with shareholder value.

Argentex Group PLC (LON:AGFX), the provider of foreign exchange services to institutions, corporates and high net worth individuals, has announced that at the annual general meeting of the company held earlier on Friday all resolutions were duly passed.

VietNam Holding Limited (LON:VNH) said a report detailing the activities of the company for the month August 2020 has been issued by Dynam Capital Limited, the investment manager of the company, electronic copies of which are available to shareholders on its corporate website:

Impax Environmental Markets PLC (LON:IEM) has said its monthly factsheet for August 2020 is now available on the company's website at: Read More – Source




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