Telecom Plus (TEP) shares ticked up 15.12% to 1,492p as recent trading ‘sets new records’
In its half-year results for the six months to 30 September 2021, Telecom Plus reported a revenue increase of 6% to £371.3m, up from £349.4m in 1H20 after the company witnessed a “resilient performance” across all parts of its business throughout the COVID-19 pandemic.
Commenting, Andrew Lindsay, Co-CEO said the results demonstrate Telecom’s resilience as a supplier of essential household services following the disruption caused by the pandemic.
He said, “With momentum and confidence building within our community of Partners, and the recent paradigm shift in the retail energy market, we look forward to delivering c.10% growth in our customer base during H2, and double-digit annual percentage growth thereafter.”
Universe Group (UNG) shares soared 119.05% to 11.5p amid £33.1m takeover offer
Today, the financial technology firm told investors that it has received a takeover offer from Inform Information Systems Ltd (IISL), a subsidiary of Professional DataSolutions Inc (PDI).
Under the terms of the proposed acquisition Universe’s entire issued, and to be issued, ordinary share capital is valued at approximately £33.1 million on a fully diluted basis.
The entity is intended to offer greater breadth and depth of services, and create a leading global platform supported by technology that drives ‘high value integrated solutions to clients.’
The Directors of Universe Group who have been advised by the UK broker firm, finnCap, outlined that they consider the terms of the acquisition to be both “fair and reasonable.”
Sareum Holdings (SAR) shares jumped 13.92% to 4.375p as clinical plan is modified
Today, analysts at Edison Investment Research said Sareum’s lead asset, the preclinical asset named SDC-1801, is “inching closer to completing its preclinical toxicology studies.”
They noted that Sareum’s decision to pursue a capsule alternative to the original suspension formulation (which has resulted in further delays) has “come as a surprise.” Nevertheless, the group said clinical trial application (CTA) filing is expected to come through around mid-2022.
Sareum said the new formulation adds value to the programme (removing the need to develop capsules at a later stage) and is supported by £4.6m of funds raised in 2Q/Q321.
“Encouragingly, out-licensed asset, SRA737, seems to be gaining traction after Sierra Oncology’s decision to reassess it in combination with other targeted therapies. We expect that the next few months will be crucial for Sareum,” analysts at Edison told shareholders.
GCM Resources (GCM) shares rose 21.05% to 5.75p after receiving extension for MoU
GCM has confirmed a year extension of an MoU with Power Construction Corporation of China, Ltd. (“PowerChina”) on the same terms as the previous memorandum of understanding which is primarily focused on the Phulbari coal mine development.
PowerChina and GCM plan to discuss and negotiate a mutually agreed business relationship to partner each other in developing the proposed coal mine based on the coal resource of 572 million tonnes at the Phulbari Coal and Power Project located in North-West Bangladesh.
The discussions will cover key areas of finance, project development and mining operations.
AO World (AO.) shares fell 15.00% to 105.35p as the group slashes its full-year forecast
In its half-year report for the six months to 30 September 2021, the European online electrical retailer lowered its full-year forecast for FY22 with Adjusted EBITDA predicted to be in the range of £10m to £20m amid global supply chain disruption and competition in Germany.
The company said it is making moves in order to take ‘decisive action to address and mitigate the issues’. It said it is confident in its ability to trade its way resiliently through this period.
The stock has shed as much as 29% in value today, the most since February 2015.