The company announced that the mineral exploration licence for the Limerick Base Metals Project, PL 3824, has been renewed until 26 May 2022.
It also noted the decision by the Government of Greenland to reduce the expenditure obligations in 2021 for all mineral exploration licences to zero but neither item of news prevented the shares from being one of the morning’s bigger fallers.
10.10am: Mitchells & Butlers has a blue Christmas
In a trading update for the 14 weeks to January 2, the FTSE 250 firm said over the period progressively tighter restrictions imposed in the UK and Germany had resulted in an “ever-smaller number of sites open” which had significantly reduced sales activity over the key festive trading season. The company also said that it has had no sites open since December 30.
That was enough to send the shares 7.6% lower to 219.5p.
9.15am: Sareum the top riser after patent approval in the US
The SDC-1802 TYK2/JAK1 kinase inhibitor programme, which is in pre-clinical development, is a treatment targeting cancer.
The company’s technology is now patented in all major territories, including Europe, Japan and China.
The company said the delay will allow discussions to continue with its largest shareholder over a potential transaction that could be “an extremely value-enhancing opportunity”.
The adjournment will align with the company’s requirement to hold an extraordinary general meeting to consider certain resolutions relating to the migration from the UK-based CREST Central Securities Depositary to Euroclear Bank of Belgium for the electronic settlement of trading in the company’s ordinary shares. The company needs to get votes from shareholders representing at least one-third of the company’s shares in favour of the resolution, otherwise, it is back to the eighties and the use of paper-based share certificates.
Proactive news headlines
OKYO Pharma Limited (LON:OKYO) has appointed a chairman and a new chief executive. Industry veteran Dr Gary Jacob will assume the role of CEO, taking over from Willy Simon, who will become a senior non-executive director. Gabriele Cerrone is taking the chair of OKYO, but in a non-exec capacity.
Sativa Wellness Group Inc (AQSE:SWEL) said it has witnessed record sales in December. In a brief update, the chief executive of the cannabis and cannabidiol (CBD) wellness firm Henry Lees-Buckley said 2020 had been a “transformational year for the company” and that the company’s integrated supply chain allowed them to control quality and costs.
Primary Health Properties PLC (LON:PHP) has told investors that it intends to pay four interim dividends in equal instalments of 1.55p in 2021. The level of the dividends implies a full-year dividend 6.2p, up from the 5.9p paid in 2020.
Sareum Holdings PLC (LON:SAR) said it has been formally granted a US patent over its SDC-1802 TYK2/JAK1 kinase inhibitor programme, which is in pre-clinical development targeting cancer. It means the company’s technology is now patented in all major territories, including Europe, Japan and China.
Bahamas Petroleum Company PLC (LON:BPC) told investors it is on-track to add further wells to its operations in Trinidad and also Suriname. At the same time, it confirmed on-target production with 500 barrels of oil per day being produced at the end of 2020. Now, with an extensive work programme on the slate the company is targeting production growth up to 2,500 bopd by the end of 2021.
Mkango Resources Ltd (LON:MKA) has received approval from the TSX-Venture exchange for the issue of Mkango shares to Talaxis Limited. Talaxis is to be granted 1mln shares and in return has agreed to give up the right to buy 12mln Mkango shares at 6.6p each; Mkango shares currently trade at around 16p.
Chaarat Gold Holdings Limited (LON:CGH) has appointed Panmure Gordon as its joint corporate broker with immediate effect. Panmure will work together with the company’s existing brokers Canaccord Genuity Limited and finnCap Limited.
Destiny Pharma PLC (LON:DEST) said chairman Nick Rodgers recently purchased 9,000 ordinary shares at a price of 88p apiece. Following the transaction, his total beneficial interest is 47,462 shares, representing 0.08% of the total issued share capital of the company.
Crossword Cybersecurity PLC (LON:CCS) told investors that it will hold a webinar panel discussion on Tuesday January 12, 2021 at 10am. Entitled “Cyber Security: skills shortage, automation deficit or poor hiring practices – what’s the reality?”, the online discussion will bring together academics, customers and industry professionals to discuss one of the biggest challenges in the industry. It will be chaired by Dr Robert Nowill, executive chair of The Cyber Security Challenge, with a panel including Amanda Finch, CEO at The Chartered Institute of Information Security; Darren Argyle, CISRO at Standard Chartered Bank; and Stuart Jubb, Managing Director for Crossword Cybersecurity’s consulting division.