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(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.
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FTSE 100 - WINNERS
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AstraZeneca, up 0.8%. The Anglo-Swedish drug manufacturer said its Covid-19 vaccine developed in partnership with Oxford University has been approved by the UK Medicines & Healthcare products Regulatory Agency for emergency supply in the country. Astra said the first doses will be released Wednesday in order for vaccinations to start early in the new year. The vaccine has been approved for the immunization of individuals aged 18 and over, with the authorisation recommending two doses administered with an interval of four to 12 weeks. The AstraZeneca vaccine is the second to be approved in the UK. The Pfizer Inc-BioNTech SE vaccine was approved earlier in December.
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FTSE 250 - WINNERS
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Energean, up 2.2%. The company reached an agreement with Kerogen Investments, an affiliate of Kerogen Capital, for the acquisition of Kerogen's 30% shareholding in Energean Israel. This will result in Energean owning 100% of the Israeli business. The total consideration will be between USD380 million and USD405 million, the Mediterranean-focus gas exploration and production company said. Energean said the acquisition adds 2P reserves of 29.5 billion cubic metres of gas and 30 million barrels of liquids, representing 219 million barrels of oil equivalent in total, to the company. Taking a 100% interest in Energean Israel will enable Energean to fully control its capital structure, it said, enhancing its ability to maximise total shareholder returns.
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OTHER MAIN MARKET AND AIM - WINNERS
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iEnergizer, up 15%. The Guernsey-based business process outsourcing firm said it has entered into a credit agreement for a five-year senior secured term loan facility of USD165 million, which includes a USD15 million revolving credit facility. The company said the facility - which has an interest rate of 3.75% plus the London Inter-bank Offered Rate - has been secured on significantly more attractive commercial terms than the existing debt facility which it is replacing, iEnergizer said. This had a minimum 7.0% interest rate. The new facility does not restrict dividend payments, subject to maintenance of facility covenants, so iEnergizer will maintain its existing dividend policy. iEnergizer said the facility was put in place to increase debt use within the company's overall capital structure, with existing debt facilities having been substantially repaid. The additional financing will be used to return cash to shareholders.
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Bluejay Mining, up 4.0%. The exploration and development resource company said it has received a research and development rebate of GBP264,775 gross in cash from the UK government for scientific research carried out on the Dundas titanium project in Greenland over the last two field seasons. The company said the rebate was for eligible expenses incurred at the project during 2018 and 2019. Geology Manager Eric Sondergaard said: "It is very pleasing to receive this R&D cash rebate, a significant sum that will contribute to future activities across our portfolio. Bluejay will continue to evaluate future strategic R&D credit opportunities, specifically as it advances its exploration planning for 2021 at its various projects."
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OTHER MAIN MARKET AND AIM - LOSERS
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Uru Metals, down 12%. The exploration & development company posted a widened loss for its first half due to higher costs and the settlement of debts. For the six months ended September, the firm posted a total loss of USD1.6 million, widened from USD230,000 the year prior, as administrative expenses rose to USD302,000 from USD263,000 and the company recognised a loss of USD1.5 million on the settlement of debts. Looking ahead, Chair Jay Vieira said: "URU continues to believe that the long-term fundamentals of the base minerals industries remain positive and will be working hard in the coming year to unlock the value of our projects for our shareholders. The company maintains its core strategy to develop its nickel assets, as the board anticipates growing demand and price appreciation for nickel in the short to medium term."
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Kodal Minerals, down 11%. The mineral exploration & development company said it has received a conversion notice in relation to its USD1.5 million unsecured convertible loan agreement with Riverfort Global Opportunities PCC and YA II PN. The company said the investors have elected to convert USD150,810 into 176.2 million new shares at a price of 0.06340 pence per share.
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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