Provexis (PXS)  shares rise 13.02% to 0.95p as it secures further agreements for Fruitflow® 

Provexis has entered into a new agreement for its heart-health solutions ingredient, Fruitflow® with its existing partner, DSM Nutritional Products. Profits under the new deal are expected to be materially ahead of the share the group would have made under an existing arrangement.

Since the original deal with DSM runs out at the end of 2022, the two have agreed that DSM's existing and pipeline customers for Fruitflow will transfer to Provexis. A royalty will be paid to DSM on the gross profits generated to transferred customers over the deal’s first four years.  

A new partnership with DSM has also been agreed relating to the use of Fruitflow®  to confer health benefits in modulating the gut microbiome of humans. A patent application has been filed, and an early commercial launch of products based on this technology is being planned.

System 1 Group (SYS1)  shares rise 10.91% to 305p as it plans to return cash to investors

The Board of System 1 said it has now conducted a wider review of its capital allocation priorities and considered the Company's near-term cash needs and its dividend policy.

With £8.7m in the bank as at 31 March 2022, the firm has decided to pay annual distributions to investors via buybacks or tender offers rather than dividends. It also plans to return up to £1.5m of excess cash by way of a tender offer "at the earliest opportunity" after its results.

Serabi Gold (SRB)  shares rise 10.13% to 43.5p following good results at Coringa project

The Brazilian-focused gold mining and development company issued a positive update from its Coringa development project in northern Brazil, including successful ore sorting test work.

“The results continue to be excellent and it is particularly pleasing to demonstrate that ore sorting works so well and in addition to achieve an impressive metallurgical recovery of 96%,” said CEO, Mike Hodgson, who added that gold recovery is a major step in de-risking Coringa.

 
Agriterra (AGTA)  shares fall 18.76% to 4.985p as CEO steps down 

On Monday, Agriterra announced that its Chief Executive Rui Sant'ana Afonso would be stepping down at the end of July 2022 and that Non-Executive Director, Hamish Rudland, would become interim CEO effective from 1 August 2022 until a new CEO is identified.