Micro Focus International (MCRO) shares ticked up 11.44% to 464.65p following $1.6bn loan
Shares in the London-listed global software group jumped on Tuesday following yesterday’s announcement that the company had launched a $1.6 billion senior secured term loan refinancing, the proceeds of which will be used to refinance existing loans due in June 2024.
On Monday, the Company explained to investors that the refinancing will replace an existing euro loan facility and partially refinance its U.S. dollar loan, both of which are due in 2024.
Harvest Minerals (HMI) shares jumped 25.00% to 6.25p following strong growth in 2021
In a statement released yesterday morning, the remineraliser producer described 2021 as “a breakout year” with accumulated sales by end of the year having reached 85,030 tonnes.
During 4Q21, Harvest’s sales performance achieved a total volume of 22,984 tonnes of its KP Fértil®, representing a 105% increase over the sales realised in the same period of 2020.
The total 2021 accumulated sales achieved 85,030 tonnes compared to 54,115 tonnes in the year of 2020 and 27,559 tonnes in 2019. Such sales performance represents a 46% CAGR (Compound Annual Growth Rate) over the last three years, the Company told investors.
As a result of this combined with the continued strong activity of the agricultural sector in Brazil, Harvest is now forecasting its calendar 2022 sales volume to be 150,000 tonnes.
Shoe Zone (SHOE) shares rose 20.76% to 142.5p following a return to profit
In its final results for the 52 weeks to 2 October 2021, the footwear retailer hailed a return to profit, reporting a pre-tax profit of £9.5m, compared with a loss of £14.6m in the prior year.
Revenue over the period dropped by 2.9% to £119.1m, from £122.6m last year, as the firm’s stores were able to trade for only 36 weeks of the year as a result of ongoing lockdowns.
Nevertheless, the Company noted that online sales had climbed by 58% to £30.5m during the period, largely as a result of a greater investment in digital infrastructure and operations. The Group attributed part of the success of its digital operation to ‘an efficient returns process.’
Block Energy (BLOE) shares 13.64% to 1.25p as JKT-01Z reaches its target depth
With over 110,000 operational man-hours worked in 4Q21 and with ‘no lost-time incidents,’
Block Energy said its JKT-01Z well has reached a target depth of 2,565m measured depth.
In an operations update for the three months to 31 December 2021, the Georgian-focused exploration and production firm said JKT-01Z, the second well in the current two-well drilling programme, reached TD at 2,565m MD following the end of 4Q, in early January 2022.
‘Considerable’ mud losses were encountered with drilling, suggesting the well has intersected multiple open fractures. Block noted that completion operations are now underway and will be followed by clean-up operations to unload the mud losses, ahead of the well being put on test.