Network International (NETW) shares ticked up 7.00% to 372.75p as it expands African deal
On Monday, it was reported that WEMA Bank, one of Nigeria’s oldest financial institutions, had renewed and expanded its long-term business agreement with Network International.
As part of this extended deal, Network International will aid WEMA Bank in increasing its card issuing capacity as well as support its ATM processing capabilities in Africa. WEMA highlighted to investors that the renewed deal will build on parties’ long-term relationship.
‘The agreement underlines the two companies’ shared commitment to further the adoption of digital payments and support emerging markets’ transition to a cashless economy,’ it said.
In a statement distributed by APO Group on behalf of Network International, Hany Fekry, Regional President – Northern and Sub-Saharan Africa, said the new deal was a “testament to the confidence the bank has in Network’s best-in-class solutions and technical expertise.”
TP Group (TPG) shares soared 33.33% to 5.2p as it confirms takeover approach
Shares in the engineering services firm soared on Tuesday after it confirmed speculation that it has received a takeover approach from the science-led services firm, Science Group.
The firm noted that the approach is preliminary and there is no certainty that an offer would be made. As a result, the firm has told shareholders to take “no action at this time”.
URU Metals (URU) shares jumped 17.65% to 500p after disposing of South African project
Last week, URU unveiled the completion of its sale of Zebediela Nickel Co, a subsidiary of the firm that is developing the Zebediela project in South Africa, to Blue Rhino Capital Corp. Since the announcement, shares in the group have jumped from 475p to 500p in the past six days.
Following the sale which was first announced two weeks prior, Uru now holds 41.0 million shares in ZEB Nickel, representing a 75% stake. As part of the agreement, ZEB Nickel (formerly Blue Rhino) has conducted a share consolidation and completed a CAD$2.8m raise.
"The transaction with Zeb Nickel provides much needed capital for the continued development of the Zebediela project. Uru remains committed to the Zebediela project, which the board believes can become a globally significant nickel deposit," said the firm at the time.
Ovoca Bio (OVB) shares rise 16.67% to 11.75p after hailing ‘strong results’ in recent weeks
In recent weeks, the women’s health focused pharmaceutical firm hailed ‘strong results’ for the year to 31 December 2020, particularly for its ongoing Phase II dose ranging study for its lead product, BP-101, a novel synthetic peptide which targets female sexual desire.
The Group is pursuing an updated marketing authorisation application for BP-101 with the Russian Ministry of Health (the "Minzdrav") for the peptide which is also aimed at reducing the symptoms of distress associated with hypoactive sexual desire disorder (HSDD).
Within Ovoca’s financial report published in June 2021, the Company informed shareholders that it remains ‘optimistic about future trading prospects and operating conditions,’ which is said is tempered only by the delays and uncertainty occasioned by the continuing pandemic.
‘There is, however, no expectation that COVID-19 will prevent us from our achieving our goal of relieving the suffering caused by female sexual dysfunction and, ultimately, our vision to become a leader in the research and development of, and commercial partner of choice for, novel medicines in areas of high unmet need that affect women,’ it noted.
UK Commercial Property Trust (UKCM) shares fall 2.33% to 79.55p while NAV rises
Last week, the real estate investment trust said its assets and rent collections had increased during the quarter to 30 June 2021. Net asset value per share was 90.2p, up 2.5% from 88p from the previous quarter to 31 March 2021 and 7.5% higher year-on-year from 83.9p.
Like-for-like portfolio capital value, net of capital expenditure, increased by 3.2% to £1.21 billion, outperforming the MSCI monthly index, which increased 2.6% over the quarter.
Last week, the FTSE 250 company also declared an increased second quarterly dividend of 0.644p per share - that’s 40% above the 0.46p dividend issued for the same period in 2020.