MOVERS OF FRIDAY 15 JANUARY 2021
(INDV ) shares ticked up 11.05% to 116.6p as it raises profit and sales guidance
The London-listed global pharmaceutical company has raised its profit and sales expectations for the year ended 31 December 2020 after its prescription medicine, Suboxone, which is a treatment for opioid dependence, continues to demonstrate growth against its competitors.
The company outlined to investors that total net revenue is now expected to be in the range of $645m- $650m, compared to the group’s previous market guidance of $595m to $620m.
It said SUBLOCADE® is selling ahead of forecasts with net revenue between $128-$130m (guidance of $120-$125m), representing preliminary 4Q20 SUBLOCADE® net revenue growth of 12% to 18% versus Q3 2020 reported SUBLOCADE® net revenue of $33m.
The company said that SUBOXONE® sales had remained resilient through to the end of FY 2020, in part benefitting from modest stocking activity in the U.S. during the fourth quarter.
(STA ) shares soared 128.87% to 3.25p as it serves legal claim
Shares in the international company which holds an oilfield services business in Trinidad and an oil and gas interest in Indonesia soared on Friday after giving an update on a legal dispute.
The company outlined that the ongoing legal dispute is with the government of the Republic of Georgia over a production sharing contract (PSC) dated 29 March 2007 for block VIA.
Star Phoenix and Strait Oil and Gas Limited, in which Star Phoenix holds a 65% interest and which entered the PSC, have engaged new legal advisers, Enyo Law LLP, and have been working with them on progressing an arbitration claim against the government of Georgia.
(PTR ) shares jumped 32.00% to 0.825p
The oil & gas exploration and production company which operates in the Tomsk Oblast and owns 50% of Licences 61 and 67 in the region said it has signed a Heads of Terms with Belgrave Naftogas to acquire an additional 40% interest in Licence 67 for US$2.9 million.
The AIM-listed company said it has agreed to acquire an additional 40% interest in the licence for US$2.9 million, increasing its existing stake to 90%. PetroNeft said it will pay US$1.7 million in cash for the interest with the rest to be satisfied by the issue of 80m shares.
“As early as next month the asset is expected to transform from being an exploration to a producing asset. This agreement will add significant impetus to our plans to develop the Licence,” commented David Sturt, Chief Executive Officer of PetroNeft Resources.
(EDL ) shares rose 27.45% to 32.5p as it raises funds to repay debt
Despite shares falling by more than 35% during morning trading after the group announced that it had placed 3.6m shares at a price of 25p to raise £0.9m, shares in the company which operates in the Rukwa Coal Project in southwest Tanzania jumped up again this afternoon.
The company said it will use the funds to pay off its debts to asset management firm, Lind Partners LLC. Edenvilles owes the firm a total of $0.58m from a previous funding agreement.
(PFC ) shares fall 27.19% to 121.35p after former employee admits to bribery
Shares in the international service provider plunged on Friday after it issued a statement acknowledging an announcement by the Serious Fraud Office, that a former employee of a Petrofac subsidiary gas has admitted further charges under the UK Bribery Act 2010.
These charges relate to three historic contract awards in the UAE in 2013 and 2014. It said no charges have been brought against any group company or any other officers or employees.
A small number of former Petrofac employees are alleged to have acted together with the unnamed individual concerned, although the group stated that none have been charged. It added that the current Board member of Petrofac Limited is alleged to have been involved.
“Petrofac's management is committed to operating at the highest standards of ethical business practice. Petrofac continues to engage with the SFO and will respond to any further developments as appropriate,” the company told investors at the end of its statement.
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