Nostrum Oil & Gas PLC drops sharply after refinancing talks could heavily dilute shareholders | #cybersecurity | #cyberattack

Independent oil producer Nostrum Oil & Gas Plc (LSE:NOG) is on the slide after it said talks about a potential refinancing could see existing shareholders heavily diluted.

Its shares are down 46.15% at 3.5p on news of the discussions with a noteholder group about reducing its indebtedness, extending debt maturities and lowering its cost of funds.

It said: “The company notes that discussions [include] the implementation of a debt for equity swap which would see existing shareholders having a significantly reduced stake in the company’s share capital.”

3.01pm: Gulf Marine Services buoyant after contract wins

Gulf Marine Services PLC (AIM:GMS) has sailed higher after new contract wins.

The company, which provides self-propelled, self-elevating support vessels for the offshore oil, gas and renewables industries, has won two contracts for its E Class vessels.

One is for a renewables client in North West Europe, where the vessel in question is currently stationed in the North Sea.

The other is for a national oil company in the Middle East and North Africa region.

Chairman Mansour Al Alami said: “GMS has had a solid year, delivering on expectations, including reporting a profit for the first time since 2016.  Our markets continue to improve with day rates on recent contract awards showing healthy increases from legacy contracts, which positions the company well for 2022 and beyond. Given the strong pipeline of opportunities, combined with limited capacity in the market, we fully expect day rates and utilisation to improve further throughout next year.”

Its shares have climbed 12.56% or 0.63p to 5.63p.

12.31pm: Silver Bullet Data Services shines on Australian contract news

Silver Bullet Data Services Group PLC (AIM:SBDS) has shot higher after an Australian contract win.

The company has signed an agency contract with Nunn Media Pty for its 4D product, designed to help advertisers target consumers as cookies are phased out by the likes of Firefox, Safari and Google.  

Ian James, chief executive officer of Silverbullet, said: “Partnering with Nunn Media, the independent media agency leader in Australia, gives 4D a huge boost for 2022, meeting advertisers demand for new scalable insight and targeting solutions as cookies are finally sunset. We are picking up real global momentum and the Nunn media contract closes out a year where we have signed international contracts with leading media agencies in Germany, France and Spain whilst continuing to run campaigns for global clients in the UK and US.”

The news comes a day after the company said it had recently been the victim of a cyber attack on its business by hackers who solicited falsified payments of £365,000 from its corporate bank account.

Its shares are up 9.52% or 20p to 230p.

10.42am: Petroneft Resources boosted by positive reserves report

Petroneft Resources PLC (AIM:PTR, OTC:PNFTF), which operates in the Tomsk Oblast in Russia, has put on 15% to 3.45p after an upbeat audit report on its reserves

Chief executive David Sturt said: “‘We are delighted to be able to finally publish the results from our recent reserves and resource audit.

“This has been a painstaking interactive process and we are pleased to have engaged Miller & Lents due to their depth of expertise and considerable experience of working with significant Russian oil operators, some with assets near our licenses and fields that are likely analogous to ours.

“We feel the audit results fully supports our on-going strategy, with the Cheremshanskoye field on License 67 providing the most exciting near-term upside for our continued growth, reflected in the strong reserves numbers, which are all new and not reported at all in the last reserves audit.”

10.03am: Immedia records strong second half, helped by work for COP26

Another postive update, this time from Immedia Group plc. (AIM:IME).

The multi media specialist said it had seen an improved outlook in the second half, with September and October being two of the best trading months in the company’s history.

Chief executive Ross Penney said: “[This performance was] helped hugely by the creative content and audio visual installation work done for participants at COP26 in Glasgow.  Whilst much of this is one-off project work, we have seen a renewal in demand across all sectors – audio, creative, video production and installation.”

The company has also renewed its contract with IKEA for a further three years to provide music and audio production and distribution services to the retailer’s stores in the United Kingdom and Republic of Ireland. 

Elsewhere it said it continued to believed its main trading subsidiary, Immedia Broadcast Limited, would trade more efficiently as a private company and is continuing to look at divestment options.  Any proposed disposal would require shareholders’ approval.

Immedia’s shares are up 8.33% or 1p at 13p.

9.03am: Empresaria jumps as profits set to beat forecasts

Empresaria Group plc (AIM:EMR), the specialist staffing group, is in demand after a positive update.

The firm said it had turned in a strong performance in the final quarter of the year, and now expected annual pretax profits to be “materially” ahead of current market forecasts.

So its shares have jumped 9.42% or 6.5p to 75.5p.

8.40am: Itaconix sees its shares grow as production restarts in New Hampshire after flooding

Itaconix PLC (LSE:ITX, OTCQB:ITXXF), which specialises in plant-based polymers used in everyday consumer products, had a setback in early November when storm damage halted production at its New Hampshire facility.

Now it says production resumed in the middle of last month after successful temporary measures, with permanent repairs scheduled to be completed in the coming weeks.

The company said it met and expects to continue to meet all customer orders. It is working closely with one large customer on minor delivery delays that will not impact the customer’s operating needs.

It has also filed a claim with the relevant insurers to cover the costs of both property damage and operational costs incurred.

The positive news has lifted its shares 15.12% or 0.65p to 4.95p.

Also heading higher is Mediazest PLC (AIM:MDZ).

Shares in the audio-visual specialist are up 16.67% at 0.11p after it said its second half performance had shown a notable improvment on the first COVID-19-hit six months.

Demand for new projects picked up as pandemic restrictions were lifted, with its cash position notably stronger at the end of the period.

It believes it is well placed heading into 2022, although as with everyone else, it remains mindful that there could be further disruption from the virus.

But given the improvement in its results and the benefits of a number of long-term clients, it believes it has the platform to seek out acquisitions and has been in talks with several potential targets.

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