Liontrust Asset Management (LIO) shares tick up 12.96% to 2,312.5p as it doubles dividend
The independent fund management group said pre-tax profits were £31.1m in the six months to 30 September, more than 300% higher than the £6.9m reported in the same 2020 period.
Revenues rose 66% to £114.9m while assets under management and administration rose 15% to £35.66bn, boosted by £2.09bn in net inflows. As a result, Liontrust has doubled its interim dividend to 22p from 11p, stating that it is ‘confident’ in seeing near term-growth.
Conroy Gold & Natural Resources (CGNR) shares jump 31.71% to 27p as it agrees to joint venture terms
Shares in the gold exploration and development company jumped in value today following a statement released last night which detailed that an agreement had been reached relating to the main terms of the proposed joint venture with the Turkish conglomerate Demir Export.
Under the terms of the joint venture (a project called Project Inis), Demir Export will fund and develop, on an earn-in basis, Conroy Gold’s gold deposit within the Clontibret licence in Ireland to bring the licence to a construction-ready status and into operation as a gold mine.
Sound Energy (SOU) shares rose 24.14% to 1.8p as it advances gas sales agreement
The energy transition firm said it continues to make “material progress” towards satisfying the remaining conditions precedents of a Phase 1 LNG Gas sales agreement (the “LNG GSA”).
The LNG GSA, which was unveiled by the company back in July 2021, is in addition to the Phase 2 development gas sales agreement announced by the Company yesterday morning.
Graham Lyon, Sound Energy’s Executive Chairman said: “We are confident that all conditions precedent to the LNG GSA will be satisfied imminently and consequently the ‘Notice to Proceed’ with Phase 1 development can be announced once all contracts are executed.”
PipeHawk (PIP) shares rose 22.45% to 15.25p as subsidiary wins major contract
One of the Group’s principal subsidiaries, QM Systems, has won a contract to manufacture a ‘green energy’ solution which will enable the group to provide domestic heating and hot water. PipeHawk said the first phase of the contract comprises a contract worth around £800,000.
‘The product builds on air source heat pump and heat recovery technology together with utilising a Thermal Battery to provide an efficient solution that can be considered a direct replacement for a conventional gas or oil fired heating system,’ PipeHawk told investors.
The first phase will involve QM Systems and Ventive working together to produce a system for manufacturing the heating product while the second phase of the project would see the rapid expansion of QM
Systems’s contract manufacturing business model, the company reported.
Production is due to start in mid-2022 and could be expanded into other localities in the UK.