Helios Towers rises after shareholders approve proposed Oman Telecommunications acquisition

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Helios Towers PLC (LON:HTWS) rose 3% to 179.6p before close after shareholders voted overwhelmingly in favour of a proposed acquisition.

The telecoms group is looking to snap up a newly incorporated holding company into which passive tower infrastructure assets representing 2,890 sites will be contributed by Oman Telecommunications.

The FTSE 250 group will pay US$575mln in cash for the transaction, which will close by the end of 2021.

2.30pm: Lekoil still lower after sacking chief executive 

Lekoil Limited (LON:LEK) was still lower on Friday, dropping 6% to 1.525p after sacking its chief executive Olalekan Akinyanmi on Thursday due to a corporate governance breach.

The oil and gas exploration and production company said it will start the search for a new boss and, in the interim period, Anthony Hawkins will act as interim executive chairman.

As previously announced, the AIM-listed firm is still owed US$1.5mln under a loan to Akinyanmi, which it said it will recover.

1.20pm: Pelatro on the rise after securing more contracts

Pelatro PLC (LON:PTRO) added 5% to 52.5p at lunchtime after securing contracts worth roughly US$200,000 for additional modules from existing customers.

The wins take the total value of contracts in hand and representing 2021 revenue to around US$7mln, the telecoms-focused software firm revealed.

“We are delighted to sell additional modules to existing customers, which deepens and broadens our engagement with them. Our customers are increasingly moving different parts of their activities onto our mViva platform,” said Subash Menon, the managing director and chief executive officer of Pelatro.

12.10pm: Kefi Gold and Copper jumps as Tulu Kapi gold project launch nears

Kefi Gold and Copper PLC (LON:KEFI) jumped 8% to 1.972p at noon after announcing it is completing preparations to launch its Tulu Kapi gold project after the company’s AGM on 30 June.

The miner said it remains on track to commence project commissioning in late 2022 and to reach full production by mid-2023, in line with previous guidance.

It is waiting for approval from the Ethiopian authorities and meanwhile it has appointed a mining contractor and employed 150 staff.

11.05am: Victoria Oil & Gas rises after 2019 invoices finally settled

Victoria Oil & Gas PLC (LON:VOG) advanced 9% to 6p in the late morning after receiving US$5.1mln from Eneo regarding the settlement of invoices issued in 2019, including interest.

“We are very pleased to bring the Eneo episode to a close, and the funds significantly strengthen GDC’s working capital position. In addition to the funds received, GDC gains valuable tax credits which will be used to enhance cashflow,” said chief executive Roy Kelly.

GDC is the firm’s subsidiary Gaz du Cameroun, which is an onshore gas producer and distributor based in Cameroon.

10am: Airlines under pressure after UK government’s disappointing travel list update

Airlines were under pressure in mid-morning after the UK government didn’t add any areas on the green list of countries that can be visited without quarantine, and even removed Portugal.

Wizz Air Holdings plc (LON:WIZZ) shed 3% to 4,547.5p, British Airways owner International Consolidated Airlines Group SA (LON:IAG) was down 2% to 195.08p and easyJet PLC (LON:EZJ) dipped 1% to 945.6p.

Ryanair PLC (LON:RYA), whose boss Michael O’Leary said the move wasn’t based on any science or public health, lost 2% to €16.10.

Meanwhile, Fevertree Drinks PLC (LON:FEVR) dropped 5% to 2,476p after Morgan Stanley trimmed its stake.

The US investment bank now owns 1.5% of the posh mixer producer, compared to 4.9% previously.

8.45am: Origo Partners early riser after selling interest in Gobi Coal & Energy

Origo Partners PLC (LON:OPP) was an early riser on Friday, surging 19% to 0.185p after selling its entire interest in Gobi Coal & Energy.

The group received US$275,437, which it said was that asset’s last reported carrying value.

The investment company said it will further update the market as to its remaining assets when its annual report is released before the end of this month.

Talking about sales, IQ-AI Limited (LON:IQAI) 5% to 7.9p after its subsidiary Imaging Biometrics sold its brain tumour imaging platform to the Los Angeles County Hospital.

The deal follows the recent installation of the IB Clinic technology at the Keck Medical Center of USC, also in LA. The two run a healthcare network serving around 10mln patients.

No financial details were provided.

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