Britain

Kape Technologies the top riser after proposing acquisition of digital privacy specialist

Software firm Kape Technologies PLC (LON:KAPE), up 33% at 102.5p, topped the risers on Tuesday after announcing the proposed acquisition of Private Internet Access.

The company is paying US$95.5mln for LTMI Holdings, the company that owns Private Internet Access, and is also taking on around US$32.1mln of LTMI's debt.

Kape will also acquire LTMI's suite of digital privacy products.

9.00am: Cash calamities befall PetroTal and Plutus

PetroTal Corp (LON:PTAL) shares plunged 18% to 20.6p after the company revealed its cash pile was not as high as previously indicated.

The seventh bullet point in the oil producer's third-quarter update slipped the bad news in with no fanfare: the company's cash and cash equivalents position as at September 30 was US$20.5mln and not roughly US$40mln as stated in the company's stock market announcement of 21 October.

The company said its October announcement incorrectly classified some current asset items as cash and cash equivalents.

The year of woe for Plutus PowerGen PLC (LON:PPG) continues, with the shares practically halving to 0.09p today after a grim update.

The company revealed it has ceased to receive management fees from its six FlexGen sites and its management contract with Attune Energy.

The loss of management fees will have a negative impact on the company's working capital position, leaving it “highly constrained” as this is presently the group's sole revenue stream.

Proactive headlines

Secure payments specialist Eckoh PLC (LON:ECK) maintained its full-year guidance after a confident start to its financial year – one in which operating profits grew 235%.

ECSC Group PLC (LON:ECSC) has hailed a “strong return to growth” after reporting record levels of Consulting, Managed Services and Incident Response revenue in its third quarter.

ITM Power PLC (LON:ITM) has signed a collaboration agreement with Japans Iwatani Corporation to deploy multi-megawatt electrolyser-based hydrogen energy systems in North America.

Redx Pharma PLC (LON:REDX) said grant funding for its latest project provided “validation” of its scientific capabilities.

Equals Group Plc (LON:EQLS) is expecting to add 1,000 corporate customers to its roster following the acquisition of UK-based payments firm Casco.

Hurricane Energy PLC (LON:HUR) is beginning drill stem testing on the Warwick West well, located in the UKs West of Shetland continental shelf.

Oracle Power PLCs (LON:ORCP) resource on Block VI at Thar in Pakistan has been officially recognised as a potential coal gasification into fertiliser project.

Alien Metals Ltd (LON:UFO) has notified the seller of the Hancock Ranges and Brockman iron Read More – Source