JTC (JTC) shares rose 7.52% to 771.5p after raising £78.9m
JTC, which provides fund, corporate and private client services, successfully raised £78.9m which the Group intends to use to support its acquisition of the US firm SALI Fund Services.
Nigel Le Quesne, Chief Executive Officer of JTC, said: “We are delighted with the result of this placing and grateful for the support of investors, in particular our existing shareholders. The capital raised will support the acquisition of SALI Fund Services, a high quality business in the important US market and will also ensure that we maintain a strong balance sheet and significant firepower to continue executing on our disciplined inorganic growth strategy as part of our Galaxy Era business plan, in which we aim to double the size of the Group.”
KEFI Gold and Copper (KEFI) shares soared 19.98% to 1.109p ahead of presentation
Shares in the gold exploration and development company soared ahead of its Company presentation which will be presented at 6pm BST today as part of the One2One Forum.
In its half-year results to 30 June 2021, Kefi said the current climate of increased gold and copper prices had made the project economics for its Tulu Kapi gold project in Ethiopia ‘more attractive’ as well as the potential values of the Company’s discoveries in Saudi Arabia.
Agriterra (AGTA) shares jumped 19.95% to 5.65p
Shares in the African agricultural company jumped today despite having no news out. Last week, the firm said the strengthening of Mozambique’s local currency against the U.S. dollar had weighed on operations in 1H22, but that sales of grain and beef remained ‘encouraging.’
‘Nonetheless, on lower volumes, margins have been improved and the division has more than 20,000 tons of maize in inventory, sufficient for the remaining 6 months of the year,’ it noted.
“We expect further ongoing difficult trading conditions in H2 2022 but as a Company are well positioned to come through this period in a strong position,” the Company concluded.
Fusion Antibodies (FAB) shares rose 15.56% to 130p following contract win
The Belfast-based company has signed a collaborative research and development agreement with a US based biotechnology company where it will provide its discovery and engineering services in relation to the research and development of several predetermined projects.
Based on the initial statement of work in the Agreement, Fusion will receive a minimum of US$1.83 million of fees over the next two years for the provision of its initial agreed scope of services, which will utilise the Company’s affinity maturation platform which is named RAMP.
The Client, which is unable to be named for reasons of commercial sensitivity, is a US biotechnology start-up company that has been specifically incorporated to pursue the projects to which Fusion will be providing its services. It is being backed by a US biotechnology firm.
AO World (AO.) shares fell 5.99% to 150.8p as driver shortage impacts growth
Shares in the European electrical retailer continue to fall nearly a week after it informed investors that for the six months 30 September 2021, growth had been impacted by the nationwide shortage of delivery drivers and ongoing disruption in the global supply chain.
It said the challenging market dynamics in both the UK and Germany has resulted in lower volumes than expected which affected operational leverage, particularly in the second quarter. As a result, AO said it expects annual adjusted core profit to be between £35m and £50m compared to the £64m it reported back in FY21 amid high demand during the pandemic.