Movers of Tuesday 10 May 2022

Vox Markets
Vox Newswire
15:30, 10th May 2022


Watches of Switzerland Group (WOSG) shares tick up 5.88% to 873.75p as it reiterates confidence ahead of trading update

Ahead of a trading update for 4Q22, the luxury watch retailer told investors that trading so far has been in line with expectations, and that it remains confident in its prospects for FY23.

The Company said its Q422 trading update will now be released a day earlier than anticipated on Wednesday 18th May 2022 to accommodate an unforeseen change in diary commitments.

Stock Chart | WOSG

Tower Resources (TRP) shares jump 8.70% to 0.245p as it plans for further funding

The African-focused oil and gas firm said the Minister of Mines, Industry and Technological Development (MINMIDT) has, with the support of the President of the Republic, agreed to grant a further extension of the First Exploration Period of the Thali PSC to 11 May 2023.

Tower also expects to complete a letter of intent with Shelf Drilling to cover the drilling and testing of the NJOM-3 well in 4Q22, using the Shelf Drilling Trident VIII jack-up drilling unit.
The Company is redrawing its funding plans for drilling the NJOM-3 well at the Thali project in the Rio Del Rey sedimentary basin offshore Cameroon, since a planned farm-out of 49% to Beluga Energy for $15m was shelved. A new proposal is being worked on by all the parties.

Addressing shareholders, Tower Resources said its steps will include the finalisation of the well financing and the rig contract in 3Q, ahead of the planned mobilisation of the rig in 4Q.

Stock Chart | TRP

Versarien (VRS) shares rise 7.21% to 1.15p as Umbro adopts its graphene technology
Today, Versrien said the global sportswear brand Umbro will integrate its Graphene-Wear™ technology into its Elite Pro Training Kit range, initially for the 2023 spring/summer collection.

The advanced engineering materials group has already been working on several projects with Umbro since 2018 and it said this integration is the first step to more products being launched.

As part of Umrbo’s 2023 spring/summer collection, the company’s Graphene-Wear™ ink formula will be printed on the inside of the new Elite Pro-Training Kit garments being sold.

Stock Chart | VRS

CyanConnode (CYAN) shares tick up 7.56% to 16p as it secures first order from IntelliSmart

CyanConnode announced this morning that it has received its first order from IntelliSmart Infrastructure Pvt Ltd (IntelliSmart), for a smart metering deployment in Assam in India.

Under the purchase order, CyanConnode will supply a total of 100,000 Omnimesh Modules together with advanced metering infrastructure, standards-based hardware, services, Omnimesh head-end software, perpetual licence and an annual maintenance contract.

“The Indian smart metering market is scaling up to deliver 250 million smart prepaid metres and I believe that CyanConnode’s technology, together with its ability to deliver projects on time and within budget, will stand it in good stead for the future,” stated CEO, John Cronin.

Stock Chart | CYAN

 

 

 

 

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Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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