Ncondezi Energy shares soar 64.52% to 1.28p on feasibility study for a 300MW solar project in Mozambique
Ncondezi Energy said it has launched a feasibility study for a 300MW solar PV and battery storage system in Mozambique. The study will take 4 months to complete and will be financed through available capital following restructuring of its Seritza Limited loan. Ncondezi has identified an area with 3 preferred sites, each potentially supporting 500MW of energy generation.
"Pre-feasibility studies completed by NGP earlier in the year confirm significant potential value to shareholders with an estimated pre-money NPV of between US$60m and US$65m, and fully diluted cash flows to NGP of between US$130m and US$180m over 25 year period for a 300MW plant." the Company said.
Fevertree Drinks shares fall 27.61% to 868p as it cuts profit forecast
Fevertree Drinks lowered its its profit forecast amid "challenging logistical and cost headwinds". The Company expects headwinds to continue in H2, thus it reduced its EBITDA guidance to £37.5-£45.5m.
"Despite the current challenges of the volatile logistical and cost environment, we continue to make good progress across our regions. The strong and growing consumer demand for the brand, our exciting pipeline of innovation, and the growing interest in long-mixed drinks, gives us more confidence than ever in the long-term opportunity." CEO Tim Warrillow said.
Aston Martin shares rise 23.70% to 459.3p on £650m capital raise, Saudi wealth fund to become 2nd largest shareholder
Aston Martin announced that it will raise £653m via a discounted share placing and use the proceeds to "meaningfully deleverage the balance sheet, strengthen and accelerate its long-term growth." Saudi sovereign fund PIF will be issued 23.3m new shares at 335p, representing a 9.8% discount, for a total of £78m. PIF will also take part in a subsequent £575m rights issue. Together, PIF, the Yew Tree Consortium, and Mercedes-Benz AG will invest c. £335m.
"Overall, this is a game changing event for Aston Martin, supporting the delivery of our strategic plans and accelerating our long-term growth potential. It transforms our balance sheet, liquidity and cashflow profile and provides greater clarity on our pathway to become sustainably free cash flow positive and create significant shareholder value". said Executive Chairman Lawrence Stroll.
Nanosynth shares rise another 14.88% to 0.7p on continued enthusiasm about success of Volz partnership
Nanosynth announced on 4 July its partnership with Volz Holdings remained of "great value" despite reduced post-pandemic demand for surgical masks. The Company's plan is to take the technology developed with Volz and use it directly within products in the HVAC market and beyond. A fifth trial production run is due to take place in the coming weeks, and the Company is now confident to apply for UK REACH registration with the HSE which will allow it to produce up to 60 tonnes of copper oxide nano material per year.
Nanosynth shares have risen 48% since the announcement.
"The business is now ten months into its turnaround strategy following the appointment of Mark Duffin as CEO in September 2021, and whilst the Company understands and appreciates shareholders' frustration at the speed of progress and irregular newsflow, the Group would like to emphasise that good momentum is being gained and updates are being provided to shareholders when appropriate to do so and in accordance with the Company's regulatory obligations." the Company said.