Wednesday, December 1, 2021

Ascential to take a hit after yanking this year’s Money20/20 China show

Ascential PLC (LON:ASCL), the company formerly known as EMAP, tumbled 6.2% to 341.2p after it deferred the M..

By admin , in England , at October 25, 2019

Ascential PLC (LON:ASCL), the company formerly known as EMAP, tumbled 6.2% to 341.2p after it deferred the Money20/20 China fintech exhibition.

The exhibition had been scheduled for 4-6 December of this year.

The previous edition of Money20/20 China in 2018 generated £2.5mln of revenue. The one-off costs relating to Money20/20 China in 2019 will hit adjusted underlying earnings (EBITDA) by no more than £1.5mln.

11.30am: Essentra the latest to blame Brexit for its woes

Essentra PLC (LON:ESNT) shares dipped 2.9% to 410.6p after it blamed Brexit and a “tougher macroeconomic environment” for a dip in third-quarter revenues.

The FTSE 250-listed maker of bespoke plastic and fibre products reported that like-for-like (LFL) revenues for the three month period had fallen by 2.9%, while also declining 0.6% on an underlying basis.

Marginal expansion of Components and mid-single-digit revenue growth in the Packaging division were offset by a fall in incomes from the companys Filters arm, however, Essentra said it expected this negative trend to reverse in the fourth quarter, thanks mainly to a “significant outsourcing deal”, and as such full-year profits were expected to be “in line with consensus”.

10.30am: Angus Energy bites the bullet with Brockham and Lidsey assets

Shares in Angus Energy PLC (LON:ANGS) dived 17% to 0.95p after the company announced a £1.5mln loan note issue.

The company said it is taking pre-emptive action after deciding that it would have to make a provision for the decommissioning of the Brockham and Lidsey assets.

The UK onshore oil and gas development and production company said it is exploring the acquisition of insurance against abandonment as an alternative to long term cash reserving given the very low-interest rate environment.

9.30am: Resolute expecting its sulphide roaster at Syama to be fixed before the end of the year

Resolute Mining Limited (LON:RSG) (ASX:RSG) climbed 11% to 72p after it said the sulphide roaster at its Syama Gold Mine in Mali will be repaired soon.

The roaster was taken offline in early October due to the detection of a crack in the main external shell but should be back online in about six weeks time.

Gold miner Resolute estimates the total cost of the roaster repairs will be US$5mln. This amount is expected to be offset by operational cost savings from not operating the roaster during the repair period.

Cambridge Cognition Holdings PLC (LON:COG) surged 7.8% to 27.5p in early deals after announcing regulatory progress with a drug developed to arrest Alzheimers Disease.

Following a consultation with the US Food and Drug Administration, Biogen Inc and Eisai have announced plans to pursue regulatory approval for aducanumab, which would be the first therapy to tackle the clinical decline in early Alzheimer's disease.

If successful, this presents an opportunity for Cambridge Cognition whose CANTAB assessments are specifically sensitive to the early cognitive decline during Alzheimer's disease.

Proactive news headlines:

VR Education Holdings PLCs (LON:VRE) virtual reality (VR) education and training platform, ENGAGE, has been selected by Facebook Inc (NASDAQ:FB) for inclusion in a software vendor programme for its Oculus VR device. The Oculus independent software vendors (ISV) programme is designed to accelerate the adoption of VR technology among consumers by encouraging enterprise developers and software firms to build applications using Oculus products.

ITM Power PLC (LON:ITM) has opened its eighth hydrogen refuelling station – at the Shell services, Gatwick Airport. It is the second of two facilities developed as part of the European H2ME2 project. This is a fuel access initiative funded by the European Fuel Cell and Hydrogen Joint Undertaking and the Office of Low Emission Vehicles.

SDX Energy PLC (LON:SDX) has begun a 12 well drilling campaign on its 75% owned Gharb Basin acreage in Morocco. The programme will target a mean 15 billion cubic feet of gas, with the first seven wells to be appraisal holes close to existing infrastructure. These will be followed by two step-out exploration wells further to the north in Gharb Centre and outside the reach of existing facilities.

Telit Communications PLC (LON:TCM) said its new industrial-grade FN980m 5G data card has sailed through a series of live 5G tests. The company, which styles itself as an enabler of the Internet of Things (IoT), said the tests were conducted on a live 5G network – 5G is the fifth generation of mobile networks – in Korea at sub-6 GHz (gigahertz) frequencies. A second set of successful tests was conducted in millimetre wave spectrum using test equipment.

Seeing Machines Limited (LON:SEE) has won a contract to install its AI-powered driver monitoring system to a fleet owned by one of Canadas largest haulage companies. Bison Transport, which employs 2,500, is having Seeing Machines GuardiaRead More – Source


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