Zoetic rises after instigating a share option scheme for employees

News

Zoetic International PLC (LON:ZOE) surged 7.6% to 4.25p after it said it has adopted a share option scheme.


The vertically integrated cannabidiol (CBD) and natural resources company said that under the scheme, all of the company’s employees will be eligible for awards.


The company said it has issued 7.16mln share options that can be exercised at 10p a pop.


1.45pm: Beowulf heartened by drilling results


Beowulf Mining PLC (LON:BEM) shares climbed 3.1% to 8.25p after the company had some goods news relating to its Viti licence in Kosovo.


The company said drilling has identified highly altered trachyte porphyry dykes with associated copper and gold mineralisation.


“While it is still early days, porphyry deposits are typically large mineralised systems which can be amenable to open-pit mining and therefore represent extremely attractive exploration targets,” said Kurt Budge, the chief executive officer of Beowulf.


12.30pm: Sorrell’s S4 Capital bounces following digital marketing agency deal


Martin Sorrell’s S4 Capital PLC‘s (LON:SFOR) pulled out of its recent share price slump, rising 5.45 to 147.5p on merger news.


The agency’s digital production firm MediaMonks has merged with Firewood, Silicon Valley’s largest independent digital marketing agency.


S4 said the merger would cost US$112.5mln, to be paid half in cash and half in shares, with another payment of US$37.5mln if Firewood met its budgeted earnings (EBITDA) target for 2019.


11.30am: Air Partner brought down to earth with a bump


Aviation services provider Air Partner PLC (LON:AIR) was brought down to earth, falling 6% to 86p, by a middling set of interim results.


The shares have been on a charge of late, rising from 75p two months ago to 91.5p at last night’s close, but a 29.5% fall in underlying profit before tax to GBP3.0mln in the six months to the end of July from GBP4.2mln in the same period of 2018 failed to enthuse the market.


Mark Briffa, the company’s chief executive officer, said it was “a solid first-half performance despite a challenging operating environment”.


10.30am: Lack of outlook statement has easyJet analysts wondering


Low-cost airline easyJet PLC (LON:EZJ) found the market hard to please with the shares down 7.6% after a trading update.


The company said full-year profits should land at the better end of previous guidance after it enjoyed increased demand due to disruption at rivals Ryanair and British Airways.


However, the market was perturbed by the absence of any comment on the outlook for the current year.


“Silence on the outlook shifts attention back to less than solid aspects of recent trading and outlook comments limited to the current year. Headline costs are set to rise by 12%, driven by fuel and adverse FX movements. Excluding fuel and using flat FX rates, cost per seat is falling. This suggests EZJ is currently on the wrong side of its fuel price hedges and that its intermittently poor currency risk management has returned,” suggested Ken Odeluga at City Index.


9.30am: Altyn glistens after upgraded resource estimate at its Sekisovskoye gold mine


Altyn PLC (LON:ALTN), up 30%at 0.75p, was the top riser early doors after an upgrade to resource estimates at its Sekisovskoye gold mine.


The independent competent person’s report put proved ore reserves at 3.47mln ounces based on an average gold grade of 3.61 grams per tonne (g/t).


With the move or probable ore reserves to proved reserves, the estimate of the former declined to 330,000 ounces at an average grade of 2.91 g/t.


Estate agent Countrywide Property PLC (LON:CWD) climbed 7.9% to 4.1p after it appointed Bruce Marsh as chief operating officer.


Marsh was described as “an experienced senior executive”, who recently helped oversee the recovery of Tesco PLC (LON:TSCO), where he sat on the UK board.


He will report to Paul Creffield, the group’s managing director, and will sit on the Countrywide board.


Proactive news headlines


Synthetic fuels specialist Quadrise Fuels International PLC (LON:QFI) has entered into an exclusive global collaboration and emulsifiers sales agreement with speciality chemicals giant, Nouryon.


Impax Asset Management Group PLC (LON:IPX) saw assets under management rise by 4% in the fourth quarter of its fiscal year.


Argo Blockchain Plc (LON:ARB) has reported a 75% increase in revenues for its third quarter despite what it says is a “softening” of Bitcoin prices.


Crossword Cybersecurity PLC (LON:CCS) has signed a two-year contract for its Rizikon Assurance system with a FTSE 250 chemicals company.


Midatech Pharma PLC (LON:MTPH) has started to dose patients in its phase 1 study of MTD201, a possible new treatment for hormonal-based cancers such as acromegaly and neuroendocrine tumours (NET).


Jersey Oil and Gas PLC (LON:JOG) has revealed the findings of a new independent evaluation of its recently acquired Greater Buchan Area project in the North Sea.


Alba Mineral Resources plc (LON:ALBA) investors can look forward to horizontal drilling at the Horse Hill project, where the HH-2/2z well is now nearing the completion of the vertical pilot hole.


Salt Lake Potash Ltd (ASX:SO4)(LON:SO4) has completed the acquisition of a package of tenements and other key assets for the Lake Way Sulphate of Potash Project near Wiluna in WA’s northern goldfields.


Metal Tiger Plc (LON:MTR) is all set to become the new owner of just under 6.3mln new shares in Sandfire Resources (ASX:SFR) after a scheme of arrangement was approved by the Supreme Court of Western Australia.


The board Chaarat Gold Holdings Ltd (LON:CGH) has exercised its right of waiver in regard to a potential mandatory offer for the company under its own articles of associations.


Strategic Minerals PLC (LON:SML) has made its first payment for a 50% stake in the Redmoor Tin-Tungsten project in Cornwall ahead of schedule.

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