Stanley Gibbons rises on funding deal, while Kingspan slumps

By Jamie Ashcroft / February 23, 2018 / www.proactiveinvestors.co.uk / Article Link

10:45 am: Stanley Gibbons  rises on funding deal, while Kingspan slumps

Stamp specialist Stanley Gibbons Group Plc (LON:SGI) shares advanced 0.49p or 10%, to trade at 5.34p, as it struck a deal to bring in ?19.45mln of new investment, which will also allow it to reduce its debt facilities to ?10mln.

The deal will see the investor, Phoenix UK Fund, take a 58.09% stake in the company.

Engineering consultancy Driver Group Plc (LON:DRV) jumped 15% after its told investors that trading in the first four months of the financial year were "significantly ahead" of internal and external forecasts.

Elsewhere, Irish building material Kingspan Group plc (LON:KGP) dropped back 6.5%, to trade at ?,?34.98, as it cautioned over a slowdown in UK demand.

9:30 am: Rightmove shares on front foot as it delivers revenue, earnings and dividend growth

Outside the big blue-chips, which were struggling, Righmove Plc (LON:RMV) was a standout stock.

Rightmove shares rose 55p or 1.28%, to trade at 4,365p, after its full year results revealed 'double-digit' percentage growth in revenues, earnings and dividends.

Investors were selling Royal Bank of Scotland Plc (LON:RBS) shares despite the fact that the bailed-out bank has just reported its first full year profit since the height of the financial crisis in 2008, but, also noted that it is facing a hefty fine from the US Department of Justice over claims it miss-sold mortgage-backed securities

The bank's shares were down nearly 4% changing hands at 271.3p.

Elsewhere, British Airways owner IAG PLC (LON:IAG) was another high profile loser, down 19.8p or 3.31% to 602p, despite the positive pitch from the airline as it reported on 2017.

IAG announced a new share buyback, increased dividend and a bullish outlook for 2018. Operating profits rose by 19% to ?,?3.02bn and Wilie Walsh, chief executive, said all four of its airlines -  British Airways, Iberia, Aer Lingus and Vueling -  performed 'extremely well' with record results.

Bookmaker William Hill plc (LON:WMH) shares started 1.6% lower, trading at 325.8p, as impairments pulled the bookmaker to a full year loss despite 7% revenue in the 52 weeks ended December 26.

Proactive news headlines:

Tungsten mine developer W Resources PLC (LON:WRES) has inked two major long-term offtake agreements for product from its La Parrilla project in Spain. The first is with Wolfram Bergbau und H? 1/4 tten AG (WBH), which is the largest tungsten processing company in Europe and the second is directly with a leading supplier to the USA tungsten markets.

Mineral sands producer Base Resources Ltd (LON:BSE, ASX:BSE) posted a 466% increase in net profit in the latest half year as it increased mining volumes and grades at its key Kwale operation in Kenya. Sales revenue from Kwale was up 28% in the period to A$115.9mln compared to A$90.6mln in the same period in 2016,  with the main drivers being the higher ilmenite and zircon prices.

US Oil and Gas PLC (LON:USOP) updated on progress in Nevada, where it is preparing to drill two new wells in Hot Creek valley. The firm said groundworks, including road improvements and access ways, have been completed and the drill pads for Eblana-3 and Eblana-6 have been prepared. A water well has  also been sunk, it added.

ECR Minerals PLC (LON:ECR) has informed investors that its subsidiary, Mercator Gold Australia, has renewed exploration licence EL5433 in Central Victoria has been extended for five years. The licence is host to the Bailieston gold exploration project, and it now expires in March 27.

StatPro Group PLC (LON:SOG) announced that it has acquired the remaining shareholding in Infovest Consulting (Pty) Ltd, a South African software provider specialising in ETL and reporting software for the asset management industry. The AIM-listed provider of cloud-based portfolio analysis and asset pricing services said in a statement that it had acquired the remaining 27.3% shareholding in Infovest for ZAR30.4mln ( ?1.9mln) in cash.

Mporium Group PLC (LON:MPM), the technology firm delivering event-driven marketing, announced that on 23 February 2018, its chief executive officer, Nelius De Groot was granted an option over 8mln ordinary shares exercisable at a price of 8p each. In a separate statement, the group also announced the appointment of Nicholas Bertolotti as a non-executive director of the company.

BB Healthcare Trust PLC (LON:BBH) announced that Josephine Dixon will temporarily step down as chair of the company's Audit Committee with immediate effect due to health reasons but will remain on the board. It said  Randeep Grewal will become interim chair of the Audit Committee whilst Josephine recuperates.

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) (TSX-V:EOG), the oil and gas exploration company with licenses in highly prospective regions in South America and Africa, announced it has been recognized as a 2018 TSX Venture 50?,,? company, an annual ranking of top-performing companies on the TSX Venture Exchange over the last year.

Harvest Minerals Limited (LON:HMI), the AIM listed fertiliser development company announced that an updated version of its corporate presentation is now available on the company's website at www.harvestminerals.net.

Lombard Risk Management plc (LON:LRM) announced that, in association with its recommended cash takeover by Vermeg Group NV, the proposed cancellation of trading on AIM will occur 24 hours later than previously notified, now at 7.00 a.m. (London time) on 27 February 2018.

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