Tlou Energy Limited (AIM:TLOU, ASX:TOU, BSE:TLOU) climbed 24% to 3.15p after it said it expects to sign a power purchase agreement in Botswana today.
The power station developer said that under the terms of the agreement, the Botswana Power Corporation would purchase up to 10 megawatts of power generated at Tlou’s Lesedi power project.
The agreement is for an initial five-year term.
10.00am: THG rallies as founder agrees to give up “special share”
Some good news at last for those investors gulled into buying shares in THG Holdings PLC a year or so ago; the founder is to give up his golden share.
Shares in the company formerly known as The Hut Group rose 5.9% to 306.6p – still a long way below their 500p flotation price – after Matt Moulding, the founder, chief executive and chairman (he possibly does the office cleaning as well) said he would give up the special share that allows him to block any takeover attempt.
So-called “golden shares” are not much liked in the City, not least because they prevent a stock from being listed on the premium segment of the main market of the London Stock Exchange or included in FTSE Russell indices.
9.05am: Monday morning hangover for Distil (AIM:DIS)
Interims from Distil (AIM:DIS) PLC were enough to drive shareholders to drink, with the shares sliding 12% to 1.8p as it slipped into the red.
The owner of drinks brands RedLeg Spiced Rum, Blackwoods Gin and Vodka, TROVE Botanical Vodka and Blavod Black Vodka saw turnover slump 23% to GBP1.44mln in the six months to the end of September from GBP.188mln in the same period of last year.
The group posted a loss of GBP44,000, versus a profit of GBP154,000 a year earlier.
“Given ongoing supply chain challenges and uncertain timelines for the resumption of normal activity levels it is difficult to forecast with accuracy and certainty for the second half of the year,” the company admitted.
Pass me the vodka. No, not that one; a cheaper one.
Tristel PLC (AIM:TSTL), down 7.3% at 480p, was another stock in the wars after issuing results.
The manufacturer of infection prevention products found itself a bit of a stock market darling after the Covid-19 epidemic became a pandemic but the fizz seems to have gone out of its performance.
Turnover in the year to the end of June was down 2% year-on-year at GBP31.0mln while pre-tax profit slumped to GBP3.8mln from GBP6.6mln the year before.