Tern, Tekcapital, and Minds Machines among Friday's standout movers

By Jamie Ashcroft / May 04, 2018 / www.proactiveinvestors.co.uk / Article Link

Tern PLC (LON:TERN) shares climbed 13.4% to 25.8p after revealing that its 'Internet of Things' portfolio company Device Authority had entered into a technology partnership with Franco-Dutch digital security firm Gemalto.

Elsewhere, investment group Tekcapital PLC (LON:TEK) following this afternoon's release of financial results that included increased revenue and profit for its year ended November 20 2017.

10:50pm: Minds Machines shares in the red as web domain business goes blue

Minds Machines Group Ltd (LON:MMX) fell around 10% in Friday's early deals after it revealed a cash-and-shares acquisition of Florida based ICM,  which owns 'niche' web-domains such as .xxx, .porn, .adult and .sex.

Last year the adult industry web domains group had made US$3.5mln off US$7.7mln of net sales.

AIM-quoted MMX, which concludes a strategic review as a result of the deal, said the transaction will be earnings enhancing in the current year - although shareholders will take a hit from equity dilution with around US$31mln of an estimated US$41mln deal value being paid in new MMX shares.

MMX shares were down 1p or 9.9% changing hands at 9.1p.

Urals Energy Plc (LON:UEN) shares were down 16%, to 92.5p, after it told investors that lower production and increased duties on sales will see earnings for 2017 below the previous year, when it releases results next month.

Ncondezi Energy Ltd (LON:NCCL) was off 12.3%, at 6.6p, as the company raised ?950,000 issuing new shares at 6.25p each.

Renewable fuels group Velocys Plc (LON:VLS) was up 13% as it unlocked an initial US$6mln as it got the go-ahead for a project in Oregon.

9:20am: Anglo African Agriculture shares rebound

Anglo African Agriculture Plc (LON:AAAP) shares rebounded on Friday, gaining 59% to trade at 0.44p, after the company issued a statement noting recent share price weakness and said it believed "there is no reason in terms of the underlying business for this fall.

It added: "The board continues to look for acquisitions, which may add significant value to the company. 

"The board are hopeful to be able to announce progress in this regard in due course."

Microsaic Systems plc (LON:MSYS) climbed 18% to 2.73p after it flagged an improved sales performance.

"Orders received in the year to date are from a wider customer base than last year and in total cover the same number of instruments as delivered for the whole of 2017," it said. "The board remains confident in the longer-term prospects for the business."

Proactive news headlines:

ReNeuron Group Plc's (LON:RENE) head of research will present exciting early-stage data on the potential use of cell-derived exomes in the treatment of cancer. Exosomes are nanoparticles secreted from many different types of cells and play a key role in cell-to-cell signalling.

 DP Poland Plc (LON:DPP), the franchise holder for Domino's pizzas in the central European country, saw continued double-digit like-for-like sales growth and improving margins at the store level in the first quarter of 2018.

Internet domains firm Minds + Machines Group Limited (LON:MMX) has agreed a deal to acquire ICM Registry LLC, a Florida based owner of four high value, niche top level domains. Separately, Minds + Machines Group released its results statement for the twelve months ended December 31, in which it confirmed its maiden year of profitability.

FairFX Group Plc (LON:FFX) says it has successfully migrated its international payments business onto the innovative propriety platform developed by City Forex within ten weeks of the acquisition of the business.

Metminco Limited (LON:MNC) (ASX:MNC) said that Lanstead Capital is no longer considered to be a significant shareholder of the company with its holding reduced to 1.51% of the issued share capital, down from 7.03% following the group's recent placing.

African Battery Metals PLC (LON:ABM), the AIM quoted African focused exploration company, announces the appointment of SP Angel Corporate Finance LLP as the company's nominated adviser and sole broker with immediate effect.

Active Energy Group PLC (LON:AEG), the international biomass based renewable energy and forestry management business, announced that a holder of convertible loan notes issued by the company on 14 March 2017 has elected to convert a total of 425,000 notes into 11,565,537 new ordinary shares in the company.

accesso Technology Group PLC (LON:ACSO) said yesterday that it has agreed to pay an earn-out consideration of round ?7.2mln in respect of its 30 March 2017 acquisition of Ingresso Group Limited.

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