MOVERS OF FRIDAY 12 FEBRUARY 2021
Equities see slight 5.79% relief to 296.3p from £ 500m in cash
The UK food and beverage company’s stocks have rallied since Thursday afternoon after the company responded to press speculation regarding the Bank of England’s call on the Bank of England’s CCFF and the possibility of the group’s capital increase.
The statement was released after market close on Wednesday and followed a report by the Financial Times that found the group was planning a rights issue of up to £ 500 million.
SSP raised £ 216 million in March last year while borrowing £ 300 million from the government’s coronavirus lending program. SSP announced in its preliminary results released on December 17, 2020 that the current monthly cash burn rate was between £ 25 million and £ 30 million and that it is expected to be in the second quarter through March 31, 2021 in this one Area will remain.
‘While SSP is confident that the travel market will recover in the medium term, there is still considerable uncertainty regarding COVID-19 and the associated travel restrictions.
In this context, SSP continues to evaluate the merits of a number of financing options, both debt and equity, that would further strengthen the balance sheet, ”the company said.
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Shares rise 26.44% to 13.1p as they receive key approval to advance the AKHM projectt
The gold exploration group, which was focused on bringing its Akrokeri Homase Gold Project (AKHM) into production, announced that the Ghanaian Environmental Protection Agency (“EPA”) has granted environmental clearance for its South Homase Mine on the AKHM project.
The Environmental Permit is a key permit required for GoldStone to move forward with construction of the project. The permit is considered “a major achievement in the development of the AKHM project” as it will be GoldStone’s first mine in this particular license area.
With the permit it is expected that mining and construction will begin immediately. The estimated time schedule for the first gold casting is within two months.
“The approval process has taken approximately six months longer than originally anticipated, but we are excited to be able to move into the next phase of operations on the AKHM project,” commented Emma Priestley, CEO of Goldstone.
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Shares rise 16.24% to 15.75p as Sure Ventures invests £ 1.95m
The next-generation technology-focused investment company announced this morning that it has acquired 1.5 million shares of Sure Ventures (“SV”) at 130p per share, a 30% premium over the median Closing price of their shares corresponds to Thursday.
The total consideration is £ 1.95 million, which is to be covered by the issuance of 14,391,144 new common shares in the Company at a price of 13.55p. This corresponds to the median mid-market price of Pires shares on February 11, 2021. As a result, Pires will hold a 28% stake in SV plc.
Sure Ventures is a publicly traded specialty fund that owns 26% of Sure Valley Ventures, a technology-driven venture capital fund in which Pires has a direct 13% stake and which is a sub-fund of Suir Valley Funds – an Irish collective asset management vehicle.
Commenting on this latest investment, Peter Redmond, Pires’ chairman, said: “SIA has been a very good investment so far. Around £ 800,000 has already been returned to Pires in cash and some of the underlying investments have increased significantly in value and as such are pleased we ourselves to be able to increase our effective interest. ”
He added, “We believe that SVV’s investment portfolio remains very attractive and we are confident that the companies within the portfolio have strong potential for value growth.”
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Shares rise 15.22% to 2.65 pence as the group expects to drill a record number of new holes in 2021
The energy company’s stocks are up nearly 25% in the past two weeks. The president announced last week that his sewage treatment plant for Puesto Flores, a field on the edge of the fertile Neuquen Basin in Rio Negro Province, was “on time and on budget”.
The President has accelerated the first phase at the site, which is expected to be completed by the end of June, after which the oil can be delivered by truck to refineries directly from the core fields of Puesto Flores / Estancia Vieja without the involvement of third parties.
The second phase of the project with an updated pipeline delivery system is currently planned for the end of August. The discussions are currently dealing with the President’s oil, “still with a view to connecting facilities that bypass their facility and thus after the completion of the second phase, which gives the President the option of delivering oil by truck or via his pipeline system . ”
In an updated assessment of reserves and contingent resources released this week, the president found that the total proven and probable reserves as of December 31 were 24.3 million barrels of oil equivalent, compared to the estimated 26.4 in 2019 Million barrels.
Significant contingent resources have been reported in production areas awaiting conversion. 2P reserves, including contingent resources, were from 26.4 million barrels to 33.2 million barrels.
The President expects a record number of new holes to be drilled in 2021 to create more reserves. The work is to be supported “by more stable implementation prices in the markets we serve in combination with investment incentives from the federal government and the provinces in Argentina”.
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Shares fell 4.42% to 121p as they continued to experience the COVID impact
Although the stock initially gained around 13% in value following the release of the Group’s semi-annual report for the half-year ended December 31, 2020, it has lost nearly 5% in value this week as casinos and bingo halls were suspended due to the ongoing lockdown.
Last month, Rank Group underscored investor confidence in tackling the challenges of the ongoing COVID-19 pandemic, despite posting a pre-tax loss of £ 48.6 million as casinos and bingo halls operate 45% of days had lost in the period.
The group reported underlying corporate losses of £ 42m, up 171% from Rank’s 2019/2020 profit of £ 59m. Meanwhile, the group’s net gaming revenue (NGR) fell 55% to £ 177.6m as the comparable venue NGR plummeted 70% due to closings.
The ever-changing curfew restrictions, particularly seismically affecting our Grosvenor venues, have resulted in an extraordinarily challenging first half for the group, ”said John O’Reilly, Chief Executive of The Rank Group, alongside the results .
He said: “There is still uncertainty about the future, especially as our venues remain closed and we have no firm guidelines on when to reopen. We are now focused on implementing the next stage of our transformation plan and ready our venues again to open when the virus is under control and the launch of the vaccine has served its purpose. ”
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