A Glance At Two Stocks: Anglo African Oil & Gas Plc & Redx Pharma Plc

A Glance At Two Stocks: Anglo African Oil & Gas Plc & Redx Pharma Plc

Anglo African Oil & Gas Plc

Anglo African Oil & Gas Plc (LON: AAOG) is an oil and gas company which owns Anglo African Oil & Gas Congo S.A. (previously Petro Kouilou S.A.). Anglo African Oil & Gas Congo has a 56 per cent interest in the Tilapia Field in the Republic of the Congo. The company strategy is to raise the productivity of active wells in the Tilapia Field. The company’s directors plan to deliver free cash to investors through regular dividends, if production achieves a sustainable level at 1,000 bopd and if oil prices are not less than USD 30/barrel.

AAOG - News Updates

On 31st December 2019, the company confirmed that it received the proposal from Jub Capital Ltd which includes the acquisition of the ordinary shares in the capital of the company by Jub Capital Ltd which is held by RiverFort at 1 pence per share. The significant part of proceeds of that acquisition is agreed to be returned to the company according to the covenants of Investor agreement with RiverFort. The proposal also includes subscription to new shares at the issuance value of around £0.3 million to the company (the "contribution Proceeds") as well as the resignation of Nick Butler, Phil Beck and James Cane from the Board.  The agreement also provides for retention of Sarah Cope and Brian Moritz on the Board with appointment of Matt Thompson and Alex MacDonald as directors of the company.  Lastly, the proposal includes removal of the declarations operationalising the SPA agreed with Zenith Energy and the proposed RiverFort Financing, which was announced on 27th December 2019.

On 27th December 2019, the company confirmed that it collected £0.1 million from Anglo Tunisian Oil & Gas Ltd in addition to the £0.05 million collected on 24th December 2019 and the payments totalling around of £0.1 million made by Anglo Tunisian Oil & Gas Ltd to certain legacy creditors of the company.

On 27th December 2019, the company confirmed the news that it disposed conditionally an 80 per cent interest in its Congo Subsidiary.

On 16th December 2019, the CEO of the company, James Berwick, submitted resignation due to assuming the role of full time of CEO with Anglo Tunisian Oil & Gas Limited of which he is a director and significant shareholder.

AAOG – Financial Highlights

On 27th September 2019, the company declared its half-yearly unaudited results for the six months ended 30th June 2019.

The company revenue increased to £173,524 in H1 FY2019 versus £106,378 in H1 2018. The company’s administrative expenses increased significantly to £2,123,488 in H1 FY2019 versus £1,605,175 in H1 FY2018. The fundraising costs also rose to £195,398 in H1 FY2019 versus £133,254 in H1 FY2018.

The loss for the period from operating activities increased to £2,452,741 in H1 FY2019 versus £2,171,606 in H1 FY2018. The total comprehensive loss for the period £2,392,737 in H1 FY2019 versus £2,212,955 in H1 FY2018. The loss per share for decreased to 1.03 pence in H1 FY2019 as compared to a loss per share of 2.71 pence in H1 FY2018.

The total assets decreased to £17,364,074 as at 30th June 2019 as compared to £19,254,273 as at 30th June 2018.

The total Equity decreased to £9,330,151 as at 30th June 2019 as compared to £14,783,981 as at 30th June 2018.

AAOG – Share Price Performance

On 02nd January 2020 as at 10:27 AM GMT, while writing the report AAOG shares were trading at GBX 0.625 per share on the London Stock Exchange, which was down by 16.67 per cent or GBX 0.125 per share, as compared to the GBX 0.75 per share, the previous day’s closing price.

The 52-week highest share price was GBX 19.00, which was reported on 07th January 2019, whereas the 52-week lowest share price was GBX 0.40, which was reported on 27th December 2019. The current share price was lower by 96.71 per cent from the 52-week high price, whereas it was higher by 56.25 per cent from the 52-week low price.

The company’s market capitalisation was reported at GBP 2.97 million at the time of writing. The free float of the AAOG was reported at 301.85 million and, the share outstanding was reported at 396.55 million.

 

Redx Pharma Plc

Redx Pharma Plc (LON: REDX) concentrates on the advancement of innovative drugs for anti-cancer and fibrosis targets in areas where the requirements are not met. The company uses its authenticated drug discovery capability to produce development formulations. The company’s strategies have three interconnected components, i.e. cancer, Fibrosis & Research, and the company’s target products are Cancer RXC004, Porcupine (RXC006), ROCK2 selective, GI-targeted Rock and Research.

REDX - News Updates

On 31st December 2019, Iain Ross, Chairman of the Board of Directors, said that the board is continuously discussing with shareholders and with the third-party investors regarding longer-term funding. Iain further noted that the board is proposing to shareholders for the capitalisation of £2.5 million worth of loans.

On 19th December 2019, the company was awarded Biomedical Catalyst funding by Innovate UK. The grant will finance the expansion and authentication of a panel of translational biomarkers to evaluate novel therapeutics in the life-threatening fibrotic lung condition of idiopathic pulmonary fibrosis (IPF).

REDX – Financial Highlights

On 10th June 2019, the company declared its half-yearly unaudited results for the six months ended 31st March 2019.

The company's revenue reported at "0" in H1 FY2019 as compared to £0.13 million in H1 FY2018. The reported operating expenses decreased to £4.96 million in H1 FY2019 as compared to £5.17 million in H1 FY2018.

The Onerous lease expense and Recovery of derecognised asset expenses were reported at £4,000 and £869,000 respectively in H1 FY2019. The loss from operations decreased to £4.05 million in H1 FY2019 as compared to £4.96 million in H1 FY2018. The loss before taxation decreased to £4.1 million in H1 FY2019 as compared to £4.9 million in H1 FY2018.

The reported Income tax expense increased significantly to £1.76 million in FY2019 versus £0.3 million in FY2018.

The total comprehensive loss for period attributable to shareholders decreased to £2.3 million in H1 FY2019 as compared to £4.6 million in H1 FY2018. The reported loss per share (basic & diluted) declined to 1.8 pence in H1 FY2019 as compared to a loss of 3.6 pence per share in H1 FY2018.

The company's cash balance decreased to £3.3 million as at 31st March 2019 as compared to £10.3 million as at 31st March 2018.

 

REDX – Share Price Performance

On 02nd January 2020 as at 08:01 AM GMT, while writing the report REDX shares were trading at GBX 8.30 per share on the London Stock Exchange, which was up by 0.61 per cent or GBX 0.05 per share, as compared to the GBX 8.25 per share, the previous day’s closing price.

The 52-week high share price was GBX 18.00, which was reported on 10th July 2019, whereas the 52-week low share price was GBX 5.00, which was reported on 10th June 2019. The current share price was lower by 53.89 per cent from the 52-week high price, whereas it was higher by 66.0 per cent from the 52-week low price.

The company’s market capitalisation was reported at GBP 10.43 million at the time of writing. The free float of the REDX was reported at 62.98 million and, the share outstanding was reported at 126.48 million.

At the time of writing, the beta of the REDX share was reported at 4.80, which means its volatility is higher as compared to the benchmark market index’s movement.

With Bank of England reducing the interest rates to a historic low level, the spotlight is back on diverse investment opportunities. 

Amidst this, are you getting worried about these falling interest rates and wondering where to put your money?

Well! Team Kalkine has a solution for you. You still can earn a relatively stable income by putting money in the dividend-paying stocks.

We think it is the perfect time when you should start accumulating selective dividend stocks to beat the low-interest rates, while we provide a tailored offering in view of valuable stock opportunities and any dividend cut backs to be considered amid scenarios including a prolonged market meltdown.

To know more about these dividend stocks, click here

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK