Juridica Investments shares soar as it reports jump in first half net asset value

() saw its share price surge more than 100% after reporting an increase in net asset value (NAV) in the first half.

In the six months ended 30 June, NAV per ordinary share was US$0.2589, up 0.48 cents from the end of last year due to a comprehensive gain of US$526,000.

During the period, the provider of capital for corporate legal claims received US$893,000 in proceeds from Investment 114107 following the exercise of the counterparty’s option to buy out the company’s interest. Across the two-year life of the investment, Juridica received proceeds of US$2.6mln on an investment of US$1.3mln.

The company declared an interim dividend of 8p per share.

Shares rose 105.98% to 17.90p in early trading.

() shares gained 10% to 0.825p after the maker of drugs for treating cancer said it expects full year profits to be ahead of market forecast.

The group will report its full year results in October alongside an update on its cancer and autoimmune disease research and development programmes.

Going the other way, PLC () shares plunged 61.93% to 661.60p after saying its chief executive Peter Crook is stepping down and that it is withdrawing its interim dividend to protect its capital base during an investigation by the Financial Conduct Authority into its Vanquis Bank subsidiary over its repayment option plan.

The lender, which provides credit to those who fail to meet the loan criteria of mainstream banks, also issued its second profit warning in two months and said it was unlikely to pay a full year dividend, blaming a poor trading performance of its home credit business.

Proactive news headlines:

() was the biggest faller in London on Tuesday after it unveiled plans to cancel its AIM listing as it looks to facilitate a much-needed £8mln investment led by Neil Woodford. The company, which makes the Proxima blood gases monitors, said the investment was conditional on it de-listing and becoming a privately-held entity. 

Specialist recruiter () has confirmed to investors that it enjoyed a record first half performance, boosted by strong performances from its recent acquisitions. As flagged in last month’s trading update, net fee income – gross profit – for the six months ended 30 June jumped 26% to £34.4mln (H1 2016: £27.2mln) on significantly higher revenues of £173.4mln (H1 2016: £106.1mln).

Drug developer () expects profit and cash at bank to be ahead of market expectations when it reports its results for the 12 months ended 30 June 2017 later this year.

(), the global advanced materials group that has developed functional uses for the new wonder material graphene, has signed an outline commercial collaboration deal with Rogers Advanced Composites (RAC). Haydale chief executive Ray Gibbs said the pair had spent over two years in mixing, dispersing and processing of a range of nanomaterials into high-end epoxy resins.

() has announced an expansion of a key manufacturing and supply agreement. It is broadening its European tie-up with Italian food company Sacco, signed in March, to cover the US and rest of the world.

Limited () managing director Michael Travia restated his view that the developer of workplace productivity software is at a “tipping point” in its development.  The comment was made as the company announced two significant deals for its BOS Time enterprise product.

() has now secured all necessary permits and permissions for its planned 3D seismic exploration programme in Utah’s Paradox basin, onshore United States. The permitting process for the proposed survey is now complete, the company said in a statement.

() has told investors that has nearly wrapped up its operations at the Badile exploration project in Italy. The company said that the drilling rig has now been fully disassembled and that operations to plug and abandon the well – including the restoration of the site – is expected to be complete by the end of September.

Kibo Mining Limited () has submitted an updated version of its MOU for the development of the Mbeya coal and power project to the relevant Tanzanian ministry. Meanwhile, funding talks continue to progress.

Premier African Minerals Limited () has provided details of a new drilling programme being undertaken by Casa Mining in the Democratic Republic of Congo. Ortac has a 22.2% stake and Premier African Minerals has a 4.5% stake in Casa Mining.

() has retired a US$3mln prepayment facility related to its acquisition in joint venture of Vametco, a South African vanadium company. Simultaneously, a US$3mln extension for a working capital facility for Vametco has been put in place.

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