See our roundup of today's AIM risers - see the full LSE winners & losers board here.
IT Service Provider Settles Legal Dispute
Adept4 Plc (AD4) is up over 37% this morning following the news it has successfully settled a legal dispute with its Managed IT vendors.
The vendors have agreed to pay a cash sum to Adept4 in addition to payment of the legal fees incurred by Adept4. The dispute was over consideration of up to £1.5m which the vendor claimed was due.
The provision created by Adept4 of £1m held in relation to the dispute is now due to be released in full.
Read more here & follow AD4 here:
Oil & Gas Company To Drill Prospect With Significant Chance For Major Discovery
Lansdowne Oil & Gas (LOGP) is up over 25% this morning following the announcement it has signed a Farm-Out Agreement to drill wells in the North Celtic Sea Basin off the south coast of Ireland.
Barryroe has had six wells successfully drilled on the structure, with oil found in all six.
Commenting on the news, Lansdowne CEO Steve Boldy said “The revised, enhanced drilling programme will evaluate fully the potential of Barryroe, without additional upfront costs to Lansdowne”
Read more here & follow LOGP.L here:
Oil & Gas Exploration Company To Co-Finance Drill Programme
Providence Resources (PVR) is up over 9% this morning following the announcement it has received approval to finance the drilling programme in Barryroe in partnership with EXOLA, Lansdowne and APEC.
Barryroe has had six wells successfully drilled on the structure, with oil found in all six.
Tony O'Reilly, Chief Executive Officer of Providence Resources said: “significant step forward for Barryroe” futher noting “the structure of the farm-out transaction means that Providence has no upfront risk or capital exposure for the drilling programme”
Read more here & follow PVR.L here:
Software Company Wins Contracts And Recruits Samsung Sales Exec
Crimson Tide (TIDE) is up over 11% this morning following the announcement of a number of contract wins and the recruitment of a Samsung Executive who headed the sales relationship with O2.
The company signed subscription agreements with two clients in the Middle East, completing maintenance, engineering, and health & safety workflows on their mpro5, smart mobility as a service.
Barrie Whipp, Executive Chairman, commented: "It is very encouraging to win these new contracts, which demonstrate mpro5's capabilities in exciting areas. We are also happy to add to our sales team and I am extremely pleased to welcome Sam back to Crimson Tide. "
Read more here & follow TIDE here:
Mesh Networks Business CyanConnode Continues To Rise
CyanConnode (CYAN) is up a further 9% this morning as enthusiasm builds after the announcement of its $11.6m contract with an Indian State-Owned Utility on Monday.
Since the announcement the share price has risen from 6.75p to 11.35p well over 40% over the past few days.
CyanConnode forecasts revenues of £700k for the order this financial year alone.
Read more here & follow CYAN here:
Digital Radio And Smart Audio Devices Technology Company Announces Half-Year Results
Fronter Smart Technologies Group (FST) is up over 9% this morning following the announcement of its half-year results six months ended 30 June 2018. Revenues were $17m, but due to investments in R&D EBITDA loss was $2.1m.
CEO Anthony Sethill mentioned in a statement the company expects a significant reduction in losses as the company controls costs and reduces R&D.
In addition to the company’s relationship with Google, it has announced collaboration agreements with Amazon and NXP, supporting its newly established Licensing and Services business unit.
Read more here & follow FST here:
See all today's AIM Risers here
