Capital & Regional PLC (LON:CAL) advanced 11% to 89.68p on the back of well-received full-year results.

The shopping centres owner was hit hard by the coronavirus pandemic in 2020, with net rental income slumping to £34.1mln from £49.3mln the year before.

“We are encouraged by how quickly our centres rebounded following the easing of restrictions at various points last year. In some cases our centres went from trading 30 per cent of stores to 96 per cent of stores in 48 hours, a testament to the relevance of our centres and retailers and the quality and adaptability of our teams,” the property company’s chief executive, Lawrence Hutchings, said.

2.40pm: Anglesey Mining lifted by Labrador PEA news

Anglesey Mining PLC (LON:AYM) shot up 31% to 6.69p on encouraging news from Labrador Iron Mines Holdings, in which it holds a 12% stake.

Labrador Iron Mines Holdings (LIMH) has released the details of a preliminary economic assessment (PEA) of its 52%-owned Houston Project in Canada.

The PEA suggests a production time frame of 12 years after an 18-month construction period. Iron ore production would amount to about 2mln tonnes per annum of 62% iron lump and sinter direct shipping ore. The initial capital cost including contingency is forecast at US$65mln.

1.45pm: Barry Reynolds increases his shareholding in Mineral & Financial

Mineral & Financial Investment Limited (LON:MAFL) jumped 20% to 10.83p as existing shareholder Barry Reynolds increased his stake.

Reynolds now has just over 35mln shares, equivalent to a holding of 4.27% of the investment company’s issued share capital.

Previously, Reynolds’s notifiable shareholding was 3%.

12.50pm: Hemogenyx higher after financial controller ups his stake

HemoGenyx Pharmaceuticals PLC (LON:HEMO) was 13% firmer at 6.65p after its financial controller, Andrew Wright, made a show of support.

Wright bought 94,882 shares at an average price of 6.03p, taking his beneficial interest in the company up to 1.63mln shares, representing around 0.36% of the company issued ordinary share capital.

11.55am: Kanabo bags another supply agreement

Kanabo Group PLC (LON:KNB) jumped 24% to 22.9p after it secured a second supply agreement for its VapePod medicinal cannabis inhalation device.

Under a new contract, Polish cannabis cultivation group PharmaCann will supply cartridges of medicinal cannabis-based on Kanabo’s proprietary formulation for the VapePod device.

Up to 36,000 cartridges per month will be filled and prepared at PharmaCann’s facility in North Macedonia as part of the new agreement, Kanabo said.

11.00am:  Pires Investments surges after Argo Blockchain’s investment in investee company

Pires Investments PLC (LON:PIRI) leaps 12% to 16.5p after it drew attention to Argo Blockchain’s plans to invest in Pluto Digital Assets, in which Pires has a stake.

The investment company focused on next-generation technology observed that Argo announced yesterday it plans to invest £7.3mln into Pluto, thereby maintaining its stake of around 25%.

Pires’s holding of 32.52mln Pluto shares is equivalent to around a 6.4% stake. Pires has warrants that if exercised would increase its holding by 24mln shares.

10.05am: Westmount Energy higher after starting gun is fired at the Canje block

Westmount Energy Ltd (LON:WTE) hardened 15% to 13.35p ahead of the expected start of operations tomorrow for the next well at the Canje block, offshore Guyana.

The company noted an announcement by Guyana’s Maritime Administration Department, that the Stena Carron drillship will begin drilling operations at the Jabillo-1 well site on 10 March.

Jabillo will be the second of three exploration wells scheduled for the Exxon-led Canje block this year. It is described as a 1bn barrel prospect, in the Late Cretaceous basin fan system.

M&G PLC (LON:MNG), the fund management firm that used to be part of Prudential PLC (LON:PRU), got the thumbs-up from the market for its 2020 results.

The shares rose 5.6% to 216.5p after the company, in its first full year as an independent company, saw assets under management and administration (AUMA) rise 4% to £367.2bn.

Adjusted operating profit before tax of £788mln, down from £1.15bn the year before, was described by chief executive John Foley as “a good outcome given that, as an independent company, we incurred head office and debt interest costs for the first full year”.

Elsewhere in the financial sector, investors were not so forgiving of TP ICAP Group PLC (LON:TCAP), which saw its shares slide 3.3% to 253.8p following its full-year results.

The inter-dealer broker saw revenue in 2020 dip by 2% to £1.79bn from £1.83bn in 2019, while adjusted profit before tax slipped 3% to £223mln from £230mln.

The first two months of 2021 saw revenue per trading day running marginally higher than in the first two months of 2020 but the company said first-quarter revenues could still be down year-on-year as March 2020 was a bumper month.

Proactive news headlines

Argo Blockchain PLC (LON:ARB) (OTCQX:ARBKF) said it has completed a fundraising that it says will allow it to complete a follow-on investment in Pluto Digital Assets as well as pursue strategic opportunities in crypto mining, capital investment, decentralised finance (DeFi) and Web 3.0 initiatives, and general working capital purposes.

Shield Therapeutics PLC (LON:STX) said Australia’s Therapeutics Goods Administration has approved its drug Feraccru to treat iron deficiency with or without anaemia in adults.

Diagnostics specialist genedrive plc (LON:GDR) said it has inked a deal with a US military contracting specialist that will distribute its BioPlex range, which provide rapid tests for threats from pathogens.

Open Orphan PLC (LON:ORPH) said its Venn Life Sciences business has won a contract to support a phase I clinical study.

Kromek Group PLC (LON:KMK) has been awarded a contract worth a minimum of US$960,000 by a customer that wants to use Kromek’s technology in a new radiation technology product.

KR1 PLC (LON:KR1) said it has invested US$200,000 into a seed funding round at Automata Network alongside trading firm Alameda Research and other investors such as IOSG Ventures, Divergence Ventures and Genesis Block, for a yet-to-be-determined amount of Automata (ATA) tokens.

Frontier IP Group PLC (LON:FIPP) said its portfolio company AquaInSilico, in which it owns a 29% stake, will receive a US$250,000 grant as an Ocean Innovator through the United Nations Development Programme’s Ocean Innovation Challenge. 

Arix Bioscience PLC (LON:ARIX), the biotech backer, saw a sharp increase in its net asset value (NAV) per share in 2020. The company’s NAV stood at £328mln at the end of December, up from £202mln a year earlier. The company also announced it has founded a new 49%-owned portfolio company, Twelve Bio, that is a spin-out from the Novo Nordisk Foundation Centre for Protein Research at the University of Copenhagen and is developing novel engineered Cas12a nucleases for therapeutic gene editing.

Live Company Group PLC (LON:LVCG) said it has signed a new contract for Paddington Bear with the Black Watch Museum in Perth, Scotland.

Directa Plus PLC (LON:DCTA) announced it has received an eighth positive test result confirming that its graphene nanoplatelets are not absorbed through human skin. This is vital for the use of graphene in textile markets where customers have to be certain of the safety of the apparel they produce and market, the company said.

Condor Gold PLC (LON:CNR)(TSE:COG) has completed the first 26 drill holes of the La India starter pit infill drilling programme.
La India is Condor’s flagship gold project in Nicaragua.

Greatland Gold PLC (LON:GGP) said further infill drilling results were “outstanding” at its Havieron project in Australia.

Westmount Energy Limited (LON:WTE) told investors it is expecting that operations for Jabillo-1, the next well at the Canje block, offshore Guyana, will start tomorrow.

Ncondezi Energy Ltd (LON:NCCL) has signed a Master Services Agreement with Synergy Consulting to provide financial and transaction advisory services in regard to the integrated 300MW coal fired Ncondezi power project and coal mine in Tete, Mozambique. 

Canadian Overseas Petroleum Ltd (LON:COPL, CSE:XOP) has raised £14mln through a share placing with the proceeds earmarked for its new North American assets, which are being acquired in the Atomic Oil & Gas deal (due to close next week).

Critical Metals PLC (LON:CRTM) has received warrant exercise notices to subscribe for 4,000,000 new ordinary shares in the company at an exercise price of 10p per ordinary share for total gross proceeds of £400,000. Chief executive Russell Fryer said: “It is encouraging to see further support from our shareholders endorsing the confidence they have in the Company’s strategy to identify and acquire brownfield mining opportunities in the strategic metals sector. We continue to consider a number of operators or near-term production operators within the natural resources development and production sector in the continent of Africa, with a number of targets having been identified with preliminary discussions continuing.” 

Zoetic International PLC (LON:ZOE) said it has secured a put option financing agreement with US investment manager LDA Capital. The cannabidiol (CBD) group said the agreement will allow it to access up to £35mln over a 36-month period as well as retain the optionality to control the timing and amount of capital draws, which it said will guarantee operational flexibility for the group as it looked to further expand its international footprint.

Cadogan Petroleum PLC (LON:CAD) in a statement noted that it has agreed, at the request of borrower Proger Managers & Partners, to postpone the Loan reimbursement until 19 March – it also noted that as of the maturity date, February 25, the due reimbursement was €14.85mln.

Applied Graphene Materials PLC (LON:AGM) notified that its interim results for the six months ended 31 January 2021 are scheduled for 24 March.

AFC Energy (LON:AFC) told investors that it has appointed FTI Consulting as its retained public relations and financial communications adviser.

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