Movers of Tuesday 25 January 2022
shares jumped 82.85% to 3.75p as it confirms potential £100m sale
In response to press speculation and its recent share price move, the nickel-copper sulphide mineral exploration firm confirmed that it is in discussions with a potential purchaser to sell its wholly owned subsidiary, Irosta Trading, for around the indicative price of up to £100 million.
The company informed investors today that there can be no certainty that any agreement will be reached in respect of the proposed disposal, nor as to the terms of the proposed disposal.
shares rose 13.51% to 2.1p after the group raises profit guidance
In a recent trading update, the consumer home-testing healthcare firm said it has continued to experience strong trading throughout 4Q due to the increased demand for its testing products.
It attributed strong trading to rising demand for reinstated Day-2 PCR test kits as well as the launch of its rapid antigen test and verification service for inbound and outbound travellers.
As a result, the Board said it is now confident that the full year trading performance will be higher than previously reported guidance with revenues expected of around £16.3m (FY 2020: £49.5k), with an adjusted EBITDA profit of at least £2.5m (FY 2020: £2.7m loss).
It added that the business will be cash generative for the year and the Board expects cash balances to be at least £6.3m at the end of the year (31 Dec 2020: £0.47m), reflecting good working
capital management and stronger than expected cash conversion in the final quarter.
shares tick up 12.95% to 78.5p as US trial validates its patented technology
MYCELX, a clean water and clean air technology company, has successfully completed a trial in the US of its PFAS remediation system which deploys its patented MYCELX technology.
The company said the results of the US trial confirm the ability of its PFAS remediation system to reduce contamination to non-detect level in a single pass through the system.
PFAS, which stands for perfluoroakyl and polyfluoroalkyl compounds, are a collection of long-lasting man-made toxic chemicals, which present a threat to the environment and human health. It estimates the annual PFAS remediation cost in the US to be in excess of US$8bn.
The trial successfully demonstrated the ability of the MYCELX system to remove all detected chemicals to non-detectable concentrations in a single pass with a 99.99% removal efficiency.
shares fell 3.18% to 264.65p despite revenue rise
Shares in Network International Holdings are down despite the firm announcing last week that its revenue for 2021 had increased ahead of consensus with underlying earnings before interest, taxes, depreciation and amortisation also expected to be ahead of market views.
The payment company said revenue increased to around $351m up from $284.8m in 2020.
The Middle East and African-focused group said 2021 had ‘significant momentum in new business,’ with new merchant signings continuing to hit record levels every quarter.
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