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Share Price Information for AFC Energy (AFC)

London Stock Exchange
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Share Price: 16.92
Bid: 16.90
Ask: 17.18
Change: 0.44 (2.67%)
Spread: 0.28 (1.657%)
Open: 16.62
High: 17.66
Low: 16.48
Prev. Close: 16.48
AFC Live PriceLast checked at -

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London close: Further losses after World Bank cuts forecast

Mon, 22nd Jun 2009 16:55

Having endured a dull morning London's leading stocks pitched further into the red in the afternoon session after the World Bank cut its 2009 global growth forecast. British Airways was the biggest faller on arch rival Richard Branson's comments that it should be allowed to go bust if its financial problems worsen. British Airways responded to Branson's suggestion that the airline should not get any government aid by denying it was angling for a bail-out. "BA is not in talks with the Government and there won't be any talks." In an otherwise weak mining sector Anglo American shares shot forward on the confirmation of an approach from Xstrata. In a statement, Xstrata said a merger was "highly compelling" and would provide "enhanced scale and financial flexibility to fund future growth" but Anglo seems less than keen so far.Lonmin took a hit as Xstrata could be forced to sell its 24.9% stake in the platinum miner if it pursues its Anglo ambitions.Elsewhere in the sector, Mexican silver miner Fresnillo has withdrawn its offer for MAG Silver, saying it is no longer in the best interests of Fresnillo shareholders. The group said its decision reflects the fact that it has not been possible to conclude the independent valuation of MAG required under Canadian securities laws in order to permit the offer to proceed.Life group Aviva has sold its Australian business to National Australia Bank for £452m, boosting its capital surplus by £400m. Total cash proceeds of from the sale are A$925m (£452m) comprising A$825m cash on completion, a dividend of A$40m and A$60m for a net asset adjustment.Oil producers such as Tullow Oil, Royal Dutch Shell and BG Group were out of favour as the price of crude drifted back, while the World Bank's revision of its growth forecast also sapped demand for oil stocks.Royal Bank of Scotland chief executive Stephen Hester is set to be awarded a £9.6m pay and incentives package. The terms have already been agreed by UK Financial Investments, the body that runs the UK government's 70% stake in RBS.Engineering group Smiths Group was a rare bright spot after Deutsche Bank tipped the stock as a recovery play.There was also plenty of M&A activity on the second row. Brit Insurance has made a proposal to the board of Chaucer in relation to a possible all share offer for the underwriter. The terms of the proposal are 0.23 new Brit ordinary shares for every existing Chaucer share.Property group Segro has reached agreement with Brixton on the financial terms of a possible recommended all-share offer, which could be accompanied by the issue of new shares to raise up to £250m. The possible offer for each Brixton share is 1.750 Segro shares. Expectations that Centrica will use its 25% shareholding as the launch pad for a full bid drove the price of oil and gas group Venture Production higher. Press reports suggest Centrica is pondering a bid at 850p a share, while Venture's board is said to be holding out for 950p. Centrica has been given until 13 July to make a full bid for Venture or waive the right to do so for a year.Independent News and Media, the Irish publisher of the UK's Independent newspaper, said it is considering a deeply-discounted rights issue in order to partly repay a €200m bond that was due to be paid back on 18 May. Great Portland Estates said it received 96.3% take-up on its fully underwritten 8 for 11 rights issue to raise gross proceeds of £175m. The group said it received valid acceptances in respect of 126.7m shares. Bookrunners Credit Suisse Securities and JP Morgan Cazenove will procure subscribers for the remaining 4.8m shares.Yellow pages publisher Yell has slumped on a warning that it could breach its bank covenants. "As a consequence of increasingly uncertain trading conditions, there is a risk that the group might need to reset its financial covenants with its lenders to avoid a breach of those covenants," it said in its annual report. Logistics software specialist Kewill Systems upped its dividend for last year by a third as underlying profits improved slightly, with the group expecting further growth in the current year.Shareholders in ATM network operator Cashbox were in the money after the company agreed a five-year deal with BT to enable its ATMs to become Wi-Fi hotspots.Low cost fuel cell company AFC Energy was wanted after it successfully completed the demonstration of its fuel cell system which it has installed at AkzoNobel's chlor-alkali plant in Bitterfeld, Germany. The company said the next stage of the project will be to bring the fuel cell system to full commercial operation.Property management services HML Holdings jumped higher following a 15% hike in full-year revenue to £8.6m and 26% jump in base management fees to £4.4m.Shares in Sarantel gained after the antennas maker said it has begun shipments of its GeoHelix GPS antennas to military equipment supplier General Dynamics. The group said it believes that this contract has the potential to benefit revenues materially in 2010.FTSE 100 - RisersAnglo American (AAL) 1,698.00p +4.62%Smiths Group (SMIN) 671.50p +3.47%Bunzl (BNZL) 485.50p +0.41%Severn Trent (SVT) 1,107.00p +0.27%FTSE 100 - FallersBritish Airways (BAY) 124.60p -8.65%Vedanta Resources (VED) 1,302.00p -8.44%Lonmin (LMI) 1,148.00p -8.16%Kazakhmys (KAZ) 587.00p -7.92%
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12 Jun 2024 16:41

EARNINGS AND TRADING: Distil loss widens; Genflow welcomes grant

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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11 Jun 2024 18:51

IN BRIEF: AFC Energy's placing and subscription oversubscribed

AFC Energy PLC - Cranleigh, England-based provider of hydrogen power generation technologies - Raises GBP13.8 million by way of an oversubscribed placing and a direct subscription with certain directors of the company at 15 pence per share. In addition, plans to raise further GBP2.0 million via retail offer at the same price. Directors Gary Bullard, Adam Bond, Peter Dixon-Clarke and Monika Biddulph subscribe for total GBP100,000 worth of shares.

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10 Jun 2024 17:28

IN BRIEF: AFC Energy touts fundraise to fast track H-Power delivery

AFC Energy PLC - Cranleigh, England-based provider of hydrogen power generation technologies - Announces proposed fundraising via placing of shares and direct subscription with certain directors to raise approximately GBP13.5 million at a price per share of 15 pence. Also announces a proposed financing on the "REX" platform to existing retail investors at the issue price to raise up to GBP2.0 million. No part of the fundraising is being underwritten.

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29 May 2024 15:45

EXECUTIVE CHANGES: Resolute Mining hires former Acacia exec as chair

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Tuesday and Wednesday and not separately reported by Alliance News:

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20 May 2024 14:44

AFC Energy inks deal to supply fuel cells to Niftylift

(Sharecast News) - Hydrogen power generation technology developer AFC Energy announced an agreement to supply its S Series fuel cell modules to Niftylift UK on Monday.

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20 May 2024 13:48

AFC Energy to supply Europe's largest mobile work platform maker

(Alliance News) - AFC Energy PLC on Monday said it had received an order from Niftylift (UK) Ltd.

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17 May 2024 18:55

TRADING UPDATES: PetroTal buys Peru's Block 131 for USD5.0 million

(Alliance News) - The following is a round-up of updates by London-listed companies, issued last week Wednesday and not separately reported by Alliance News:

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8 May 2024 14:20

AFC Energy chooses Illuming Power as manufacturing partner

(Sharecast News) - Hydrogen power generation technology specialist AFC Energy announced the selection of North American manufacturer Illuming Power as its primary producer of fuel cell plates and stacks for its 'S Series' air-cooled platform.

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25 Apr 2024 15:47

EXECUTIVE CHANGES: Hydrogen Future Industries 25% shareholder made CEO

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Thursday and not separately reported by Alliance News:

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18 Apr 2024 14:12

UK shareholder meetings calendar - next 7 days

Friday 19 April 
Murray International Trust PLCAGM
Quantum Exponential Group PLCGM re delisting or potential investment in company
Monday 22 April 
Renalytix PLCGM
Travis Perkins PLCAGM
Tuesday 23 April 
AIQ LtdAGM
NatWest Group PLCAGM
Taylor Wimpey PLCAGM
Wednesday 24 April 
abrdn PLCAGM
abrdn Equity Income Trust PLCAGM
AssetCo PLCAGM
Breedon Group PLCAGM
British American Tobacco PLCAGM
Bunzl PLCAGM
Coro Energy PLCAGM
Croda International PLCAGM
Entain PLCAGM
Greencoat UK Wind PLCAGM
Primary Health Properties PLCAGM
Serco Group PLCAGM
Synectics PLCAGM
Thursday 25 April 
AFC Energy PLCAGM
Admiral Group PLCAGM
Beazley PLCAGM
BP PLCAGM
CLS Holdings PLCAGM
CRH PLCAGM
Dalata Hotel Group PLCAGM
Develop North PLCAGM
Drax Group PLCAGM
Everest Global PLCAGM
Greencoat Renewables PLCAGM
Hammerson PLCAGM
Helios Towers PLCAGM
Hikma Pharmaceuticals PLCAGM
International Biotechnology Trust PLCAGM
London Stock Exchange Group PLCAGM
Manx Financial Group PLCAGM
Mattioli Woods PLCGM re Pollen Street Capital Ltd takeover
Persimmon PLCAGM
Premier Miton Global Renewables Trust PLCAGM
Relx PLCAGM
Schroders PLCAGM
Smithson Investment Trust PLCAGM
Tissue Regenix Group PLCAGM
Weir Group PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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26 Mar 2024 20:40

IN BRIEF: AFC Energy revenue falls; loss widens

AFC Energy PLC - Surrey, England-based provider of hydrogen power generation technologies - Revenue from customer contracts falls to GBP227,000 in the year ended October 31, from GBP582,000 a year earlier. Pretax loss widens to GBP19.6 million from GBP19.5 million. Says 2024 is focussed on delivery. Chief Executive Adam Bond says: "We are well placed to build on the foundations set in 2023 and look forward to the successful deliveries of our new H-Power Generators into the hands of customers throughout the remainder of the 2024 calendar year."

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14 Mar 2024 16:53

TRADING UPDATES: FireAngel CFO resigns; ECR Minerals raises GBP585,000

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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11 Mar 2024 13:18

AFC Energy completes factory testing of H-Power generator

(Alliance News) - AFC Energy PLC on Monday celebrated the successful factory acceptance test of its 30 kilowatt generator.

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4 Mar 2024 12:43

AFC Energy generator given the nod for CE mark

(Sharecast News) - Hydrogen power generation technology company AFC Energy announced the reception of its first independent attestation of conformity certificate for a CE mark on Monday, from German certification agency TÜV SÜD for its 30kW H-Power S Series generator.

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26 Jan 2024 12:17

IN BRIEF: AFC Energy-led consortium secures funding from UK Government

AFC Energy PLC - provider of hydrogen power generation technologies - Says it has been awarded funding under the UK Government's Clean Maritime Demonstration Competition, which is funded by the UK Department for Transport and delivered by Innovate UK. A consortium led by AFC has been awarded GBP676,500, in order to design and integrate its proprietary ammonia cracker reactor technology with marine purposed, ammonia fuelled internal combustion engines. Funding starts in the first quarter, with results from the proof-of-concept demonstration expected to be published twelve months later.

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