Movers of Wednesday 11 May 2022

Vox Markets
Vox Newswires
15:33, 11th May 2022

Watches of Switzerland (WOSG) shares jump again by 8.28% to 928p amid positive forecast

Ahead of a trading update for 4Q22, the luxury watch retailer told investors on Tuesday that trading is 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.

WOSG price chart

DeepMatter Group (DMTR) shares jump 52.63% to 0.145p as it signs multi-year agreement

The software company has signed a second multi-year licensing and collaboration agreement with Standigm Inc., a South Korean-based AI drug discovery company, based in South Korea. 

Today’s extended, second agreement is expected to generate revenues for DeepMatter of £0.28m and follows a previous licensing agreement signed with Standigm on 1 March 2022. 

Mark Warne, CEO of DeepMatter, said the agreement demonstrates the company’s “unique portfolio capabilities and also deepens the collaboration between our two businesses." 

DeepMatter acknowledges that Standigm Inc, a leading workflow artificial intelligence (AI) drug discovery company based in South Korea, has “an increasing international footprint.”

DMTR price chart

Tower Resources (TRP) shares jump 18.00% to 0.295p 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.

TRP price chart

IQE (IQE) shares tick up 7.91% to 30.77p as it launches world's first commercially available 200 mm (8") VCSEL

Today, IQE has unveiled the world's first commercially available 200 mm (8") VCSEL epiwafer which is expected to enable the expansion of the 3D sensing market beyond the smartphone.

As the company set out in its FY21 Results in March 2022, a key focus area is growing  its business by extending its roadmap to 200mm to establish new foundry partnerships, it said.

IQE said its 200mm VCSEL development is an example of its continued innovation and the objective of the launch is to expand the market for the group within wireless and 3D Sensing.

IQE price chart

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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