Angus Energy PLC jumped 46 per cent to 0.95p this week after it put itself up for sale.
The company said it has had a series of approaches from parties interested in buying some or all of the company’s 51 per cent interest in the Saltfleetby Gas Field asset. One approach led to a non-binding offer that is under consideration. Additionally, the board has received indications that certain parties may be interested in making an offer for the company.
The board has now determined to undertake a review of the company’s strategic options, which include a sale of the company.
The exotically named t42 IoT Tracking Solutions PLC – the IoT bit stands for ‘Internet of Things’ but what the t42 bit means is anyone’s guess – leapt 38 per cent to 22p after the company signed a five year US distribution contract to provide container tracking solutions for OpenBox Ventures Inc.
Market boost: Angus Energy is an onshore oil and gas operator whose share price jumped 46 per cent to 0.95p this week after it put itself up for sale
OpenBox distributes cutting edge technologies across the US security industry ensuring the integrity of goods transported in shipping containers.
‘The contract with OpenBox reflects our new strategic focus on the global shipping container market,’ said Avi Hartmann, the company’s chief executive officer.
Another nautical contract win was behind the 32 per cent rise in the share price of SRT Marine Systems PLC, the maritime domain and coastal surveillance and monitoring systems provider.
The company said its SRT-MDA System project has been adopted by a national coast guard; that’s an organisation, not just one person in a swimsuit.
The contract award is for the first of three phases of a project worth a gross total of £40million.
Digitalbox PLC, the digital media business that owns Entertainment Daily, The Daily Mash and The Tab, said all three brands traded better than anticipated in December.
The share price increased by around one-third as the company revealed that revenue and underlying earnings (EBITDA) for 2021 are expected to be significantly ahead of market guidance issued just a month ago.
Blue Star Capital PLC was one of the week’s top performers, rising 34 per cent to 0.535p but no one seems to know why, not even the board of the investment company, which put a stock market announcement saying it knew of no reason for the recent rise in the share price.
Hornby, the company that makes the eponymous train sets as well as Airfix models and Scalextric racing kits, was given a leg-up by the news that Henry de Zoete, ‘an entrepreneur and alumnus of renowned Silicon Valley start-up accelerator Y Combinator’, is joining the board as a non-executive director.
New gear: Scalextric racing maker Hornby will see Henry de Zoete joining the board as a non-executive director. Pictured: A special edition Only Fools and Horses-themed Scalextric set
‘Hornby, Scalextric, Corgi, Humbrol and Airfix are all incredible, heritage brands that I grew up with. I am really excited to give strategic input as the brilliant team focuses on digital transformation and growth, to build the business for generations to come,’ De Zoete said.
The shares chugged 31 per cent higher to 54.5p.
M&C Saatchi PLC, the advertising group, confirmed it received a preliminary approach from an investment vehicle connected with its deputy chairman, Vin Murria. The statement came in response to press speculation.
AdvancedAdvT Limited confirmed on Friday it is interested in exploring a share exchange merger with M & C Saatchi, which would be a reverse takeover.
The likelihood that there will not be a cash offer took some of the gloss off the week’s gains for Saatchi but the shares still rose 16 per cent this week to 194p.
Faron Pharmaceuticals Ltd announced the appointment of Marie-Louise Fjällskog as its chief medical officer with immediate effect.
The news sent the shares 10 per cent higher to 161p.
Caspian Sunrise PLC lost around a quarter of its value this week as it confirmed it had decided to temporarily suspend its drilling and production activities in response to the ongoing political uncertainty in Kazakhstan.
Another stock hitting the skids was UniVision Engineering Ltd, the Hong Kong-based surveillance systems specialist, which is embroiled in what looks like a nasty dispute with one of its sub-contractors, T&P Solutions.
UniVision said T&P has submitted a winding-up petition to the High Court in Hong Kong, alleging outstanding debts owed by UniVision of HK$5,955,760, which is roughly £565,280, in relation to contractual agreements.
As is often the way of these things, not only is UniVision contesting the petition it is considering making a counter-claim against T&P for breach of contract.
The company lost a fifth of its value with the shares slumping to 0.6p.
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