Gloo Networks, Midatech Pharma and Anglo African Oil & Gas among Thursday's small cap movers

By Jamie Ashcroft / May 03, 2018 / www.proactiveinvestors.co.uk / Article Link

Gloo Networks Plc (LON:GLOO) shares advanced 18.5%, trading at 45.62p, after the company said it would return all its remaining capital to shareholders as part of a voluntary liquidation of the company.

Shares in Midatech Pharma Plc (LON:MTPH) slumped 21.5%, to 36.11p, but, the company issued a statement saying that it was "not aware of any reason for the price movement."

Anglo African Oil & Gas Plc (LON:AAOG) dropped around 17% as it told investors it will seek additional funds whilst it is unclear of the financial position of its partners in the Republic of Congo ahead of a planned exploration well.

9:00am: Bahamas Petroleum shares rocket on potential deal with "major" oil firm

Bahamas Petroleum Company Plc (LON:BPC) shares rocketed in Thursday's early deals, up 155% to 2.68p, after the AIM-quoted explorer told investors that it has a confidentiality and exclusivity deal with a major international oil firm, enabling a technical evaluation of its assets and a possible 'commercial transaction'.

Not only does the agreement cement advanced negotiations, it also pays cash to BPC - which is receiving US$250,000 per month during an initial three-month exclusivity period, plus an additional US$250,000 for any month extension thereafter.

"The decision to enter into an exclusivity agreement with a reputable international industry operator is a significant step in our ongoing process to secure a partner for our highly prospective assets in The Bahamas," said Simon Potter, Bahamas Petroleum chief executive.

In London's main market, The big faller of the morning was Smith & Nephew (LON:SN.), which dropped 6.6% after the replacement hip maker downgraded its guidance.

After a disappointing trading statement on Wednesday, it was downgrade time for the insurer Direct Line (LON:DL.). Its shares were down 2.2% after City heavyweight JP Morgan Cazenove reduced its recommendation on the stock to 'neutral' from 'overweight'.

James Fisher & Sons plc (LON:FSJ), up 2.46% at 1,748p, said its marine support division saw a "significant number of contract wins" in the first four months of 2018 in a statement released ahead of its annual general meeting on Thursday.

The FTSE 250 marine engineer said trading was in line with management expectations with its marine support, specialist technical and tankships divisions trading well while its offshore oil division showed signs of recovery.

Proactive news headlines:

Hydrogen fuel cell specialist has AFC Energy plc (LON:AFC) has appointed Richard Dunkley as chief financial officer. Most recently, Dunkley was Interim Head of Finance - Business Partnering at Boots Contract Manufacturing UK.

Mkango Resources Ltd (LON:MKA, CVE:MKA) said the initial phases of the feasibility study for the Songwe Hill rare earths deposit has started.

Highlands Natural Resources Plc (LON:HNR) has told investors that it has continued its ongoing spudding process for its programme of drilling at the East Denver project - it is setting surface casing for all six planned wells before starting any vertical drilling.

Junior explorer Erris Resources plc (LON:ERIS) has been awarded a licence for a new gold target in Sweden. En??sen no.5 comprises 59.4 sq km in central Sweden that surrounds the Enasen gold mine, which produced between 1984 and 1991.

Midatech Pharma Plc (LON:MTPH (NASDAQ:MTP) has said it knows of no reason why its share price nearly doubled in value yesterday simply reiterating previously announced news that it is looking at non-dilutive financing options and on track to deliver all R&D programmes.

Medical imaging services specialist IXICO Plc (LON:IXI) is proposing to raise ?5.5mln through a placing of shares at 28p a pop.

Live Company Group Plc (LON:LVCG) has launched a permanent hotel fixture BRICKLIVE Kid's Club in The Westin Chosun Haevichi Resort in Guam, having signed a three year contract with South Korea's Haevichi Hospitality Guam Inc.

ANGLE PLC (LON:AGL, OTCQX:ANPCY) said its co-marketing agreement with the US samples and assay technologies specialist QIAGEN (NYSE:QGEN) is "progressing well". The pair are working on combining ANGLE's Parsortix liquid biopsy system to harvest circulating tumour cells in prostate cancer with QIAGEN's downstream AdnaTest gene expression analysis kit.

Symphony Environmental Technologies plc (LON:SYM) has launched a series of healthcare products, starting with latex examination gloves, made with its antimicrobial d2p technology. The AIM-listed environmentally friendly plastic maker said it was working with Health & Hygiene Ltd, a British company, and Biomax Rubber Industries of Malaysia through a collaboration agreement signed on 2 February 2018.

ECR Minerals PLC (LON:ECR) told investors that it has now completed drilling at the Bung Bong gold project in Central Victoria, Australia. The programme of work is part of a larger diamond drilling campaign which will span a number of the company's gold projects in the region.

United Oil & Gas Plc (LON:UOG), in a statement after Wednesday's close, told investors that it has extended the deadline for the company to complete its acquisition of a 10% stake in Corallian Energy's interests in southern UK oil and gas assets. The AIM-quoted group's option extends to 31 May.

TyraTech, Inc. (LON:TYR) (LON:TYRU), the life sciences company focussed on nature-derived insect and parasite control products, has announced the appointment of WH Ireland Limited as its sole broker with immediate effect.

Rose Petroleum (LON:ROSE), the AIM-quoted natural resources business, said its CEO Mathew Idien will be presenting at an investor evening hosted by Turner Pope Investments Ltd (TPI) to be held on Monday 14 May 2018, in London EC2 at 5.30pm. TPI is acting as placing agent in the ?1m fundraise announced by Rose Petroleum on 2 May 2018.

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