SSP Group (SSPG) shares ticked up 4.13% to 315.5p as it expects travel market to recover
Shares in the British food service firm have risen by over 12% in value in the past month.
Last month, shareholders approved the £475m rights issue it proposed at its GM. SSP said it intends to use the proceeds of the rights issue to strengthen its balance sheet by extending the maturity of its term loans worth £373m from 15 July 2022 to 15 January 2024.
SSP has seen revenues fall by over 80% from pre-pandemic levels as global travel remains restricted. It expects the global travel market to recover back to 2019 levels by 2024.
Helium One (HE1) shares rose 19.28% to 13.55p
Shares in the Company have gained over 60% in value over the past month and on Friday, the Group announced to investors that it had raised gross proceeds of £10m at 10p a share in order to fund the fast-track development programme of the Rukwa project in Tanzania.
The funds are expected to save 'significant time and costs' by keeping drilling equipment in the field to carry out appraisal work immediately following its intended exploration success.
The Company has described the response of its oversubscribed fundraise as an endorsement of the confidence that it feels in its assets and planned exploration drilling campaign.
The Group highlighted that helium remains "a vital resource, essential and irreplaceable", and which is a crucial component of growing next-generation technology focussed business.
St James House (SJH) shares jumped 46.67% to 55p as CEO praises “a new lease of life”
The Group held its AGM earlier today where all resolutions proposed were passed. Prior to this, the Company released a statement in which it stated that trading at the Group's businesses remains in line with its previous announcement released last month.
Graeme Paton, the Company's CEO said he was “delighted” with the progress to date in regard to the partnership between SJH and Tintra that was announced on 25 March 2021.
He said this, combined with the audit being completed, means there is “a new lease of life” in the Group. He noted to investors that he is looking forward to “exciting times ahead.”
Victoria Oil & Gas (VOG) shares rose 31.58% to 6.25p as it reaches settlement with Eneo
Shares in the gas producer and distributor which holds operations in Cameroon told investors that its wholly owned subsidiary, Gaz du Cameroun S.A. has recovered four out of ten outstanding invoices plus interest to February 2021 from its settlement with Eneo.
GDC signed a settlement agreement with Eneo last week for the payment of a gross amount to GDC, within 30 days of the signing, of around 2.74bn FCFA (Central African CFA franc).
It explained that this settlement relates to the Take-or-Pay invoices for October, November and December 2019 plus associated interest. During this period for which Take-or-Pay invoices were issued, gas was not being supplied to Eneo because there was no demand.
"We are very pleased to have settled another legacy issue without recourse to time-consuming and expensive litigation or arbitration, as such legal costs have been crippling the company in recent years. Arbitration would be under Cameroonian law and could take several years,” commented Roy Kelly, Chief Executive Officer of Victoria Oil & Gas.
Energean (ENOG) shares fell 5.37% to 810.75p while it hails a year of significant progress
The Company released its full-year results for the year ended 31 December 2020 in which it stated that 2020 “a challenging year, but nevertheless a successful one for Energean.”
Energean hailed its $230m acquisition of Edison E&P, its agreement to acquire the minority interest in Energean Israel and its ‘solid progress’ on the Karish gas development.
"Strong momentum has continued into 2021; we have sanctioned the high-return Karish North and NEA/NI projects and successfully completed a $2.5 billion bond issuance at extremely attractive rates, significantly extending the average maturity-profile of our debt,” it said.
Despite the challenges facing the group as a result of the pandemic, analysts at house broker Peel Hunt said these final results show "a year of significant progress" for Energean.