MySale Group shares soar 117.5% to 3.4p on Frasers Group stock purchase
MySale Group continued its meteoric rise today after Mike Ashley's Frasers announced the purchase of a 29% stake in the company yesterday. Frasers said the purchase would create an opportunity for a strategic partnership whereby end-of-line products can be cleared via an established clearance channel. This pipeline will be further enhanced by the benefits of counter seasonality between the European and Australian climates, the company added.
Itaconix shares rise 29.2% to 5.75p on record revenue performance
Itaconix, US-based specialty polymer developer, announced at its AGM a record performance in interim revenue. For H1 2022, Itaconix says it has achieved "record revenues", compared to the US$1.4m it achieved in H1 2021. The Company will deliver a more detailed update in the week of 11 July 2022.
"Our business is progressing very well and places us in a strong position to meet market expectations for revenues in 2022. ... We remain encouraged that underlying consumer demand for the products which contain our ingredients remains strong. Current and prospective customers are actively seeking solutions from our technology platform to formulate more environmentally sustainable products, without compromising on performance or cost." said CEO John Shaw.
Rurelec shares rise 14.29% after Peter Gyllenhammar acquires 3.12% stake
Shares in Ruralec rose after Peter Gyllenhammar bought a 3.12% stake in the South America-focused power generator. Askar Alshinbayev, founding partner of Meridian Capital, had previously acquired an 8.6% interest.
ADM Energy shares rise 13% to 0.79p on Barracuda oil field legal proceedings update
Natural resource investor ADM Energy, which holds a 51% stake in KONH (UK) Ltd, said the Federal High Court of Nigeria has further adjourned legal proceedings over its Barracuda oil field interest until November 16.
In November 2021, KONH was notified by Noble Hill-Network Limited (NHNL) of a dispute regarding KONH's ownership of its 70% stake in NHNL. ADM and KONH instigated proceedings against NHNL at the Federal High Court of Nigeria, Lagos. Since then, the court has adjourned legal proceedings three times.