Glanbia PLC (LON:GLB) slid 7% to 9p in mid-morning after posting a sharp drop in earnings as a result of the pandemic.
Half-year revenue rose 2% to €1.8bn but underlying earnings (EBITA) fell 25% to €85mln.
The nutrition group still proposed an interim dividend of €10.68 cent per share, same as last year, in line with its policy.
Meanwhile, Appreciate Group PLC (LON:APP) lost 12% to 35.12p after planning to skip the final dividend to save cash amid coronavirus uncertainty.
The reward company is also planning to stop producing hampers and merchandise, which account for 2% of its billings, so it will only be supplying gift cards.
Demand in the corporate and consumer areas has been 48% below last year since lockdown began, while the Christmas Savings order book remains 10% down on 2019.
8.45am: 7digital shoots up on contract win from video app Triller
7digital Group PLC (LON:7DIG) was the top riser on Wednesday morning, shooting up 31% to 0.77p on the back of a new contract with Triller.
Triller is an artificial intelligence-powered app that allows users to choose their favourite music to create auto-edited, professional-quality videos which can be published on the app or shared via social media channels.
The digital music solutions provider will allow Triller to access its global catalogue of more than 80mln tracks by licensing its API for music sampling and full-length audio streaming.
Elsewhere, Horizonte Minerals PLC (LON:HZM) climbed 28% higher to 4.34p after signing up five international banks tasked to the US$325mln required to get work underway at the group's Araguaia ferro-nickel project in Brazil.
BNP Paribas, ING Capital, Mizuho Bank, Natixis, and Société Générale will act as arrangers for the debt facility, which is expected to be closed by the end of the year with aim of starting construction early 2021.
"The mandating of five international financial institutions, with strong mining and metals track records, for the arrangement of a large senior debt facility is a significant achievement for Horizonte,” said chief executive Jeremy Martin.
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Horizonte Minerals PLCs (LON:HZM) (TSE:HZM) chief executive Jeremy Martin described as a “major milestone” the agreement struck with five international banks tasked with raising the US$325mln required to get work underway at the group's Araguaia ferro-nickel project in Brazil. BNP Paribas, ING Capital, Mizuho Bank, Natixis, and Société Générale will act as arrangers for the debt facility, which is expected to be closed by the end of the year with aim of starting construction early 2021. "The mandating of five international financial institutions, with strong mining and metals track records, for the arrangement of a large senior debt facility is a significant achievement for Horizonte,” said CEO Martin.
Galileo Resources PLC (LON:GLR) has kicked off a new programme of exploration on the Kalahari Copper Belt licences, in western Botswana. The initial phase of work, at licences PL40/2018 and PL39/2018, aims to define targets for drilling. The programme will include heliborne electromagnetics (EM) geophysical surveys as well as reconnaissance soil sampling. "We are pleased to announce the commencement of exploration activities on Kalahari Copper Belt (KCB) tenures PL40/2018 and PL39/2018,” Colin Bird, Galileo's chief executive said in a statement.
Metal Tiger PLC (LON:MTR) told investors that exploration at Southern Golds Aphae project, in South Korea, has unearthed high-grade gold intersections. Drilling at Aphae has shown several high to moderate grade gold/silver intersections including broad near-surface gold mineralisation, Metal Tiger highlighted. A follow-up drill program and ground magnetic surveying will target extensions. Metal Tiger owns a 17.1% shareholding in Southern Gold.
Alien Metals Ltd (LON:UFO) has hired North American investment bank IBK Capital Corp to assist with project-level funding and the joint venture process for the Donovan 2 copper-gold project in Mexico. Appointing the Canadian investment house, with significant experience in the mining sector, was described by the company as a prudent step in maximising the value of the project for all parties. The company noted that it has been in talks with several mining companies who have declared an interest in a joint venture partnership for the Donovan project.
ReNeuron Group PLC (LON:RENE), a global leader in the development of cell-based therapeutics, has announced changes to the non-executive membership of its board as indicated in the company's preliminary results statement on July 20, 2020. The company confirmed that it intended to reduce the number of non-executive directors from six to four and that, in recognition of its significant shareholding and ongoing support for the company, it had approved in principle a request from Obotritia Capital KGaA to nominate a non-executive director to the board. John Berriman and Simon Cartmell, having served for nine years and thereby having become non-independent under the QCA code of corporate governance, have expressed their intention not to seek re-election at the forthcoming annual general meeting (AGM) on September 10, 2020, and they and Dr Claudia D'Augusta will retire with effect from the close of that meeting. Dr Tim Corn, an existing non-executive director of the company, will become chairman of the board and Mark Evans, the chairman of Obotritia, will be appointed as a non-independent non-executive director of the company at the AGM.
Premier African Minerals Limited (LON:PREM) announced that D-Beta One EQ, Ltd, YA II PN, Ltd and Riverfort Global Opportunities PCC Limited elected on August 11, 2020, to convert a further US$50,000 of their investment plus accrued interest of US$1,183.56, amounting to US$51,183.56 (£39,165.66) in aggregate, into new ordinary shares in the company. The company has therefore issued 64,470,222 new ordinary shares to the investors at an issue price of 0.06075p per share, being 90% of the lowest daily volume-weighted average price (VWAP) during the five days trading days immediately prior to the repayment
Karelian Diamond Resources PLC (LON:KDR) said it has been informed that Kevin Taylor now holds 3,447,879 ordinary shares of €0.00025 in the company, equal to approximately 8.01% of its issued share capital and voting rights.
Avation PLC (LON:AVAP), the commercial passenger aircraft leasing company, announced that on August 11, 2020, it repurchased US$1,609,000 Avation Capital S.A. 6.5% senior notes due 2021 issued under Avation's global medium-term note programme. The notes were acquired through the market at a price equal to 71% of face value and will be cancelled. There are US$343,957,000 Avation Capital S.A. 6.5% senior notes due 2021 outstanding following the transaction, it added.
Oncimmune Holdings PLC (LON:ONC), the leading global immunodiagnostics group, has announced the appointment of N+1 Singer and WG Partners as its joiRead More – Source
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