Edison Investment Research

Renewi (RWI): Sale of Westcott Park facility to improve margins

Stock up 1.16% to 78.3p at 08:02

Renewi has sold its non-core Westcott Park anaerobic digestion facility to Olleco (ABP Food Group’s Renewables Division) for an undisclosed sum. The sale reflects the decision to exit the loss-making facility in line with RWI’s strategy to actively manage its Municipal portfolio to improve Group margins and returns.

Numis Corporation (NUM): Revenue and profits significantly ahead of the comparable period last year

Stock up 0.2% to 360.21p at 08:01

Numis has delivered a strong first half and is expecting to report revenue and profits significantly ahead of the comparable period last year, although below the record performance achieved in the second half of the prior year.

Metals Exploration (MTL): $2m standby funding facility secured to fund imminent debt payment.

The facility has been made available by its two major shareholders, MTL (Luxembourg) Sarl Ltd and Runruno Holdings Limited. The facility will be available until 30 June 2018 with a 20% per annum interest rate and a 2% arrangement fee. The facility will be used to pay a quarterly interest payment due to senior lenders, who have also consented to a waiver request to defer the December 2017 and March 2018 capital payment amounts totalling US $12.96m.

UK independents pick up blocks in Mexico’s Round 3.1

Premier Oil was awarded three blocks, while Cairn Energy has picked up one block in the latest shallow water round offshore Mexico. Premier beat off bids from five other consortia for Block 30,  which was the most hotly contested of the round. The company holds a 30% WI in the Sureste basin block, which will be operated by DEA and partnered by new entrant Sapura.

EMIS Group PLC (EMIS): Extension to GPSoC framework with NHS

Stock down 0.5% to 797p at 08:35

EMIS agrees to continue to provide services to the NHS on a business as usual basis until 31 December 2019.

Park Group PLC (PKG): Managing Director of Park Retail steps down

Gary Woods, Managing Director of Park Retail Limited, has stepped down from the Board of Park Group plc, with immediate effect.

WYG Plc (WYG): Trading Update

Revenue and operating profit before separately disclosed items expected to be in line with current market expectations of £155m and £3.5m respectively. Separately disclosed costs are expected to be approximately £8.5m. The order book of secured contracts at 28th February 2018 was £162m. Final results are expected to be released on 5th June 2018.

Blancco Tech Grp PLC (BLTG): Appointment of Chief Executive Officer

Stock up 0.15% to 67.1p at 08:16

Following an extensive selection process, Matt Jones has been appointed as Chief Executive Officer. Specialising in the technology sector, Mr Jones is a recognised leader with a successful track record of developing and overseeing the execution of growth strategies for companies in security, storage and communications.

Pan African Resources Plc (PAF): Operational Update at Barberton Royal Sheba

Stock up 4.79% to 7.06p at 08:35

Barberton on track for 50koz of production in H2 2018, up 23% from H1 and in line with estimates. Total estimated resources at Royal Sheba have increased by 100% to 720koz, while measured resources have increased from 50koz to 340koz. Installation of the regrind mill is on schedule and on budget, and construction of the tailings retreatment plant is ahead of schedule.

Vernalis PLC (VER): Unaudited 6-month results to December 2017

Stock up 9.49% to 3.75p at 08:05

US commercial business not sustainable with Tuzistra prescriptions below expectations and due to be sold by the end of September 2018, though VER is exploring options for continued commercialisation of the Tuzistra and Moxatag products. The decision on the potential sale of the entire company has a deadline of 30 September 2018.