Guild Esports PLC grows by adding experienced board members


Guild Esports PLC (LSE:GILD, OTC:GULDF) climbed 12.42% to 0.019p following the announcement that Mike Edwards and Brian Stockbridge will join the board as non-executives.

Both have a wealth of experience building and selling businesses, according to the pro esports team, possibly pointing to a sale at some point in the near future.

Edwards has been involved in building and selling several businesses during his career, while Stockbridge is a corporate finance veteran.

It also added in a business update that its performance since September 2021 was in line with management’s expectations.

The professional esports team recently won their fifth major trophy which cemented their place as the top Fortnite team in Europe.

2:50 p.m.: Johnson falls as debt doubles

Shares of Johnson Service Group plc (LSE:JSG) fell 9.82% to 110p after announcing in its preliminary results last year that net debt had nearly doubled.

The company reported net debt of £60.1m in 2021, down from £33.6m in 2020.

The linen supply company added that additional revenue rose by more than £40m to £271.4m, along with a profit of £5.1m, a huge improvement from compared to the £32.1million loss reported just 12 months earlier, although investors appear to have been hanging on to soaring debt.

2.10pm: Blencowe climbs after completing pre-feasibility study

Blencowe Resources PLC (LSE:BRES) jumped 27% on news that it plans to complete a pre-feasibility study on its Orom-Cross graphite project in Uganda by mid-year (read more ).

It is planned to put the project into production via a pilot plant in 2023.

Blencowe acquired Orom-Cross less than two years ago and has accelerated its development since.

An extensive infill drilling program was completed in 2021 to provide an updated resource estimate for use in the pre-feasibility study, and phase three metallurgical testwork is nearing completion.

Orom-Cross is a large graphite deposit containing approximately two to three billion tonnes of ore.

1:15 p.m .: Harvest Minerals smashes its sales forecast

Harvest Minerals Ltd (AIM:HMI, OTC:HMIFF) climbed 18% to 13p after smashing its own internal sales forecast for the year to February 28.

The company said it sold 30,161 tonnes of its organic fertilizer, up 1,070% from its own estimate.

This number represents 35% of total orders last year and 20% of its target for this year.

12:20 p.m.: Tasty falls with planned problems

Shares of Tasty PLC (AIM:TAST) fell 5% to 0.045p after the release of its trading update for the full year ending December 26, 2021.

Although the results were positive, with revenue up 44% year-on-year to £34.9m, investors were apparently spooked by the “challenges the company expects to encounter” over the next 12 months.

According to the statement, these include the end of government support, a reduction in pent-up demand, household disposable income and “stays” as well as runaway inflation.

The casual restaurant owner and operator added that it will continue to focus its efforts on managing staff shortages and supply chain issues, with continued investment in recruitment planned.

11:23 am: GSTechnologies soars on acquisition of Angra

GSTechnologies Ltd (LSE:GST) jumped 27% on Monday morning’s change of hands on the completed acquisition of Angra Ltd, which has been cleared by the Financial Conduct Authority (FCA).

The financial technology and information technology solutions company will use Angra to create the UK arm of its blockchain-enabled neo-banking business, which focuses on international money transfers, borderless accounts and stablecoins private, GST said.

“As previously stated, Angra will form the cornerstone for the development of our blockchain-based neo-banking business, providing an established and appropriately regulated foundation on which to build our planned business in the UK,” said Tone Goh, Chairman. from GST.

Angra is an FCA-approved Authorized Payment Institution (API) that conducts secure, low-cost foreign exchange business and international payment services.

10:11 am: Orosur Mining dives on drilling results

South America-focused gold producer Orosur Mining Inc (AIM:OMI, TSX-V:OMI) fell 7.3% to 12.17p after an update on exploration activity of its flagship Anzá project in Colombia.

The company released the results of the analysis of drill samples from four additional holes, MAP-097, 098, 099, 100.

The company highlighted high-grade gold intersections including 6.06 meters at 2.72 grams per tonne (g/t), 14.2 meters at 1.84 g/t, 8.35 meters at 14 .27 g/t and 59.15 meters at 0.91 g/t.

9:05 am: M&G surges as it announces £500m share buyback program

M&G PLC Inc (LSE:MNG) jumped 12% to 199.1p as it announced a £500m share buyback program alongside its annual results.

Pre-tax adjusted operating profit of £721 million in 2021 was down from £788 million in 2020, partly due to lower benefits resulting from changes to longevity assumptions.

Assets under management and administration increased 0.8% year-on-year to £370bn, including strong client net inflows of almost £6bn from the Institutional Asset Management franchise and an improvement continues to flow from Retail Asset Management, the pension company said.

7:43 am: Ashtead opens promisingly

Ashtead Group Plc (LSE:AHT) was another FTSE 100 stock that was doing well early, up 3.7% to 4,817p after raising full-year expectations in its third-quarter results.

Revenue rose 23% to $2,000 million from $1,621 million a year earlier.

Adjusted profit (EBITDA) jumped 21% to US$877 million in the three months to the end of January, from US$726 million, while the tool rental company’s pre-tax profit jumped 38% to US$393 million from US$284 million.

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