Kin slumps as share suspension looms, elsewhere another 'shell' soars after getting deals done

By Jamie Ashcroft / February 19, 2018 / www.proactiveinvestors.co.uk / Article Link

2:30pm - Kin Group slumps as share suspension looms

Kin Group Plc (LON:KIN) shares sunk as the cash-shell confirmed its shares are set to be suspended in March.

The team running the cash-shell has been checking out an array of potential acquisitions including messaging apps, online property services, VR, eSports and blockchain technology - and it says talks are ongoing - but, it won't have a deal in place before the regulatory deadline of February 28.

"We will continue to pursue these opportunities during the suspension period and remain confident we will deliver a transformational reverse takeover option for shareholders before 30 August," said Donald Stewart, Kin chairman.

Kin, the day's biggest faller, is in stark contrast to the biggest riser, which was also a cash-shell.

RockRose Energy PLC (LON:RRE) marked a 185% gain on Monday as its shares resumed trading, following a suspension, though the move essentially represents a reset for the former cash-shell which recently closed acquisitions, stock split and capital redistributions.

Kefi Minerals Plc (LON:KEFI) shares were down 9% as the company updated on its assets in Ethiopia, where last week the Prime Minister resigned.

The junior miner, meanwhile, said that its activities (such as its daily interface with the Ethiopian government) have been unaffected and it believes that its finance plans remain unaffected "because it has targeted certain regional financier, including some who already have a long-term presence in Ethiopia."

Elsewhere, Zenith Energy Ltd (LON:ZEN) was down 7.7% at 7.1p after updating investors on its oil and gas field rehabilitation operations in Azerbaijan.

10:50am - Oil firms RockRose Energy and Baron Oil are in the small cap spotlight.

RockRose Energy PLC (LON:RRE) marked a 185% gain on Monday as its shares resumed trading, following a suspension, though the move essentially represents a reset for the former cash-shell which recently closed acquisitions, stock split and capital redistributions.

The London 'standard listed' stock was up 235.5p or 185% priced at 362.5p.

Elsewhere, the price of Baron Oil PLC (LON:BOIL) jumped 40% as it entered into a North Sea-based exploration venture and also detailed its plans over in Peru, where it wants to drill a well but the project is in "force majeure" amid disagreement with local government.

Baron said it believes the Peru well could be drilled in the next six months. The share price was up 0.11p or 40.3% changing hands at 0.36p.

Reckitt Benckiser shares struggle, while Fidessa and EnQuest find favour

Reckitt Benckiser Group PLC (LON:RB. shares struggled in Monday's early deals, falling more than 5%, after it reported flat revenue for the year.

A cyber-attack in June disrupted operations, but, the consumer products firm expects a return to growth in 2018 after a pick-up in the final quarter. It said net revenue for the year to the end of December 2017 was ?11.5bn, unchanged from the previous year on a like-for-like basis.

"The household goods giant is going through somewhat of a transition period after its blockbuster $16.6bn takeover of US baby milk producer Mead Johnson in June last year," said Henry Croft, Accendo Markets analyst.

"And while the acquisition helped to more than triple annual profits on a year earlier ( ?6.17bn) while maintaining revenue growth (at least in Q4), disappointing like-for-like sales figures, missing analysts' expectations, are taking precedent this morning."

Reckitt Benckiser shares lost 346p changing hands at 6,220p, at 9:30am.

AstraZeneca PLC (LON:AZN), which has had a cancer drug approved in the United States, saw its share move positively - up 25p or 0.5% trading at 4,764p.

Fidessa Group PLC (LON:FDSA) shares were up 225p or 8.6% changing hands at 2,830p after it released financial results for 2017, showing revenue and profit growth.

Oiler EnQuest PLC (LON:ENQ) gained 4.14% after raising sentiments with a strong new 2018 outlook focussing on production growth.

Proactive news headlines:

As a result of a strong second half performance BATM Advanced Communications Limited (LON:BVC) expects full-year revenue to be significantly ahead of market expectations.

Europa Oil & Gas PLC (LON:EOG) has told investors that the UK Environment Agency has indicated in a draft decision advertisement that it is inclined to award a bespoke environmental permit for drilling and testing the Holmwood exploration well. There will now be a four-week public consultation process, taking place between February 15 to March 15.

Digital communications group Next Fifteen Communications Group PLC (LON:NFC) said it traded in line with expectations in 2017.

Haydale Graphene Industries PLC's (LON:HAYD) Taiwan-based inks arm has agreed a deal to supply Japanese firm Graphene Platform (GPC). GPC will brand the inks as "GP Graphene Ink" and initially target Japan's electronic printed inks market before spreading further across Asia.

Directa Plus PLC (LON:DCTA) has been awarded a patent in Italy for a graphene-based solution that enhances the performance of tyres. "Specifically, the patent covers Directa Plus' elastomeric composition comprising graphene and tyre components," said the AIM-listed company.

Frontier IP Group PLC (LON:FIPP), the intellectual property commercialisation specialist, said that its portfolio company Molendotech Limited has completed a first fundraising. The AIM-listed company said Molendotech had received a commitment totalling ?0.5mln which will be invested in three tranches, with Frontier IP to hold approximately 14% of the issued share capital of Molendotech following the investment of the third tranche.

A survey conducted by Macquarie University has indicated that exploration upside for Shefa Yamim (LON:SEFA) in Israel is significant. Shefa Yamim is exploring for precious stones at Mount Carmel and the Kishon River.

Stem cell services provider WideCells Group PLC (LON:WDC) has launched the first stage of Wideacademy, the firm's 100%-owned education and training division.

Polar Acquisitions Limited, a company that accounted for just under 38% of the net asset value of Baker Steel Resources Trust (LON:BSRT) in January, has announced the sale of its interest in the Prognoz silver mine in Russia for US$72mln. The deal is expected to provide uplift of around 25% to the valuation of Polar Acquisitions on Baker Steel's balance sheet at the next NAV. The buyer is Russian major Polymetal (LON:POLY).

Blockchain technology backer Coinsilium Group Limited (NEX:COIN, OTCMKTS:CINGF) has appointed investment bank Richard Lloyd as mining sector adviser to its TerraStream subsidiary. Lloyd, who began his career as a mining geologist, has 17 years of investment banking experience with a specific focus on the mining and exploration sector.

Cash shell Kin Group PLC (LON:KIN) has advised trading in its shares will likely be suspended at the beginning of next month.

Chaarat Gold Holdings Limited (LON:CGH) has announced the appointment of BMO Capital Markets Limited as joint corporate broker to the company with immediate effect, It said BMO will work together with the company's existing broker Numis Securities.

OPG Power Ventures PLC (LON:OPG) advised that, effective immediately, Cenkos Securities is the nominated adviser and sole broker to the company.

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