Home Britain Proactive news snapshot: MaxCyte, Learning Technologies, Minds + Machines, Tekcapital …

Proactive news snapshot: MaxCyte, Learning Technologies, Minds + Machines, Tekcapital …

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MaxCyte Inc (LON:MXCT) has signed a licensing deal with a company developing the next wave of cancer immunotherapies. Allogene Therapeutics Inc (NASDAQ:ALLO) will use MaxCytes Flow Electroporation platform and ExPERT technology to “develop and advance” its allogeneic CAR T treatments. MaxCyte will receive “undisclosed development, approval and commercial milestones in addition to other licensing fees”.

Learning Technologies Group PLC (LON:LTG) has reported profits for its 2019 financial year are “ahead of expectations” as recurring revenues surged thanks to its Software & Platforms business. In a trading update, the AIM-listed firm reported that for the year ended 31 December statutory pre-tax profit was £14.3mln, 316% ahead of the prior year, while revenues jumped 39% to £130.1mln.

Minds + Machines Group Limited (LON:MMX) said the momentum it experienced at the end of 2019 has continued into the first quarter of 2020, and, as a result, it plans to press ahead with its share buyback programme even during this current coronavirus crisis. The internet top-level domain provider said in late January that revenue for 2019 would be “significantly ahead” of 2018 and so it proved, with Tuesday's full-year results statement revealing that revenue was up 25% to US$17.3mln from US$12.4mln in 2018.

Tekcapital PLCs (LON:TEK) portfolio firm, Salarius, has received an order from its distribution partner to launch its SaltMe! Range of low-sodium snack products across 71 stores in May. The launch of the crisp range represented “an important milestone for SaltMe!”, the investment firm said on Tuesday, adding that “thousands of customers” will now be able to buy the new crisp range, which uses Salarius MicroSalt particles for flavouring.

Digitalbox PLC (LON:DBOX) shares rose on Tuesday as it said results for the year to 31 December were “in line with guidance”, although their publication has been delayed due to the restrictions imposed by the Financial Conduct Authority during the coronavirus pandemic lock down. The owner of the Entertainment Daily and The Daily Mash websites was scheduled to post its full-year results on Thursday but they have been deferred after requests from the FCA and the Financial Reporting Council for a two-week moratorium.

OptiBiotix Health PLC (LON:OPTI) has extended its agreement with a distributor called Extensor Robert Buczek to a further 15 Eastern European and Central Asian countries. Originally the tie-up with Extensor for its GoFigure consumer weight management product and functional ingredient SlimBiome covered Poland only. The enhanced deal will see GoFigure taken to Ukraine, Estonia, Lithuania, Latvia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Turkmenistan, Armenia, Azerbaijan, Georgia, Belarus, Moldova and Russia.

Oriole Resources PLC pared its losses to £1.41mln for the year to 31 December 2019, significantly down on the £2.25mln loss it booked in 2018. The savings were won by an increased focus on costs. In response to the current global situation relating to COVID-19, and with Cameroon's borders closed, Oriole said limited exploration work is expected in the next three months. Consequently, its directors and senior management have taken reduced salaries for this period, in order to preserve the company's cash reserves in anticipation of the proposed drilling campaign later in the year.

Anglo African Oil & Gas PLC (LON:AAOG) has announced new terms for the divestment of its Congo assets to Zenith Energy Ltd (LON:ZEN). The top-line deal value reduces to £800,000 from £1mln, but, the consideration will now be paid entirely in cash, whereas the original deal saw AAOG received £500,000 cash and £500,000 of Zenith shares. The group said the cash will be paid to AAOG in ten equal instalments.

Bushveld Minerals Ltd (LON:BMN) is to close all its mining operations on care and maintenance from 26 March, following an edict from the South African government that mines nationwide must shut for three weeks due to the coronavirus pandemic. Bushveld owns the Vametco operations and Vanchem operations. These will be put on care and maintenance in such a manner as to allow for a safe and timely ramp up once the lock-down period ends.

Tharisa PLC (LON:THR) said it will suspend mining at its South African chrome and platinum operations following the completion of the night shift on 25 March, following an order from President Cyril Ramaphosa that shuts down the mining industry for three weeks. A care and maintenance regime will begin the following day.

Afarak Group PLC (LON:AFRK) also informed investors that it will be required to put its operations under care and maintenance as South Africa prepares for a 21-day lockdown to combat the coronavirus (Covid-19) pandemic. In a statement, the London-listed miner noted that the South African National Coronavirus Command Council will enforce the lockdown from midnight Thursday 26 March.

BlueRock Diamonds PLC (LON:BRK) said it will close its Kareevlei mine as a result of a nationwide order in South Africa to shut down the mining industry. BlueRock has also removed its stones from its March diamond tender, due to an absence of international bidders.

Tlou Energy Ltd (LON:TLOU) has decided to significantly reduce costs in response to the difficult prevailing market conditions, triggered by the coronavirus (Covid-19) pandemic and lower oil and gas prices. The aim, the company said in a statement, is to make current funds last longer so that more time is available to conclude ongoing commercial and project finance negotiations.

Jubilee Metals Group PLC has said that following the call from South African President Cyril Ramaphosa it is to shut its operations and put them on care and maintenance due to the coronavirus pandemic Jubilee added that, in anticipation of the lock down decision, it has put in place measures to identify high-risk situations and personnel. At the time of the lock down announcement, the company said, it had no reported cases of the coronavirus.

Angling Direct PLC (LON:ANG) has said its retail stores are closed until further notice but its online offering remains operational as the coronavirus pandemic shut-down takes effect. The largest specialist fishing tackle and equipment retailer in the UK has shuttered its shops in compliance with the governments overnight directive. It noted the measures of support that have been put in place by the government and expects to be a beneficiary of all that are applicable to the company.

Diversified Gas & Oil PLC (LON:DGOC) told investors that it has extended its asset retirement agreement with the state of Ohio. The original arrangement had a five-year term and it has extended the deal for another five years, setting a new expiry date of 31 December 2029. In a statement, the company noted that the terms remain substantially unchanged though commitments increase so that the company is now required to plug 20 wells per year – up from 18 wells per year – over the full duration of the agreement.

Pan African Resources plc (Read More – Source