Network International Holdings (LON:NETW) shares ticked up 3.56% to 289p as it reports no evidence of wrongdoing by DPO
This morning, the company reported no evidence of wrongdoing by Nairobi-based online commerce platform Direct Pay Online Group with regards to DPO subsidiary AnconaOnline GmbH's connections with failed German digital payments provider Wirecard AG.
NETW noted the recent press commentary regarding DPO's ownership of AconaOnline GmbH and its connections with Dietmar Knoechelmann, a former Wirecard executive.
Network, which is in the process of buying DPO, said it appointed Freshfields Bruckhaus Deringer to investigate DPO following the collapse of Wirecard, which admitted in June to a €1.9bn hole in its accounts. Top Wirecard executives were then arrested on fraud suspicions.
Freshfields Bruckhaus Deringer commented today that it has not found any evidence of any wrongdoing by DPO or its management, and "can confirm that no Wirecard directors or executives, past or present at any time, have ever been involved in the management of DPO."
Network International Holdings originally unveiled its plans to acquire DPO for around $288 million back in July 2020 in order to "help accelerate growth in Africa through online payments and mobile money." The transaction is expected to complete in the first quarter of 2021.
MediaZest (AIM:MDZ) shares rose 43.75% to 0.0575p as it expects revenue to be in excess of £3m
The creative audio-visual company said today that it has provided shareholders with an update on top line results for the 18-month period ended 30 September 2020 (the "Period").
The company explained that an audit of the Period is underway and expected to complete in January 2021, with results announced and accounts sent to shareholders shortly thereafter.
MDZ will hold an AGM before 31 March 2021. The group’s results for the Period, which are subject to completion of the audit, are expected to show Group revenue in excess of £3m.
PowerHouse Energy Group (AIM:PHE) shares jump 21.43% to 4.675p as it progresses DMG plant
The sustainable hydrogen company which is focused on pioneering hydrogen production from waste plastic recently announced operational progress since its AGM in September 2020.
In recent weeks it said Peel L&P Environmental ("Peel") had commenced site preparation for the first commercial DMG® plant at Protos with initial ground works. Powerhouse and Peel are collaborating to develop 11 waste plastic to hydrogen facilities across the UK.
To expand the DMG® technology, PHE has developed a design for a solution that can export larger volumes of hydrogen, broadening the scope for Peel to engage with smaller fleet consumers of hydrogen who require supply to their own or third party off-site locations.
It said 2021 will see the first commercial use of Powerhouse's clean technology at a local level, providing a closed loop solution for non-recyclable plastic waste, whilst producing hydrogen fuel at the UK's first Plastic Park located near Ellesmere Port, Cheshire.
These Plastic Parks will revolutionise the way that plastic waste is currently handled. The parks could provide a complete solution for the 4.9 million tonnes of plastic waste generated in the UK each year, preventing it ending up in landfill or the ocean.
The group recently pledged its support for the UK Government's ten point plan for a green industrial revolution, which highlighted the need for hydrogen production in order to reach net zero and reduce carbon emissions.
Commenting on the progress, Tim Yeo, Executive Chairman of Powerhouse Energy, said:
"We welcome the commencement of activity at Protos with clearance of the site where the first commercial scale plant will be built, which will help accelerate the UK's clean energy transition. Powerhouse is getting down to business ahead of intense activity expected in 2021 as demand for our waste plastic to hydrogen technology gains rapid momentum.”
EQTEC (AIM:EQT) shares jump 15.45% to 1.42p following Billingham Project deal
Last week, the gasification technology solutions firm for sustainable waste-to-energy projects agreed to acquire the waste gasification and power plant Project Site at Billingham, UK.
It said Haverton WTV, a wholly owned subsidiary of EQT, and Scott Bros. Enterprises signed an agreement to purchase the land on which the proposed up to 25 MWe Billingham waste gasification and power plant at Haverton Hill, Billingham, UK, will be constructed.
The Project is part of a portfolio of projects currently under review by a European owner-operator of waste to energy infrastructure, which is expecting, assuming, inter alia, completion of final credit review and requisite documentation, to provide the financing required for the construction phases and commercially operate the plants and this Project.
Assuming financing is provided, EQT expects to act as the co-developer on the Project, providing the design and core advanced gasification technology and retain a portion of the O&M contract.
First Group (LON:FGP) shares fell 11.50% to 64.35p as travel stocks plunge with new restrictions
Shares in the transport company fell today as travel and airline stocks plunged as a result of harsher restrictions imposed by the UK to curb the spread of a new strain of coronavirus.
Many stocks fell during pre-market trading after Prime Minister, Boris Johnson, warned that this new strain deemed to be 70% more contagious was “out of control” across the U.K.
The news suffered a blow to First Group who recently cut its losses in the half-year to 30 September 2020 as it adjusted to reduced numbers of journeys due to COVID-19 restrictions. FirstGroup also added that it had liquidity of £805mln available at the end of its first half.
The group reported a resilient performance in a “seasonally weaker” 1H10 with adjusted operating profit ahead of expectations as a result of revenue recovery and strong cost control.