Today's corporate news highlighted significant insider confidence, with directors at SSP Group, RC Fornax, and Victrex making substantial share purchases. Strategic developments included Wilmington completing its acquisition of RegTech firm Conversia and OPG Power Ventures securing a 160 MW power purchase agreement for 2026, while Neo Energy Metals unveiled an updated corporate presentation outlining its growth strategy. Meanwhile, Trustpilot Group vehemently rejected a critical research report, BHP Group secured court approval for a AU$110 million class action settlement, and ME Group International terminated its offer period, opting to focus on organic growth.
The board of Trustpilot Group TRST has categorically rejected a report published by Grizzly Research, asserting that it contains factual inaccuracies and false claims designed to adversely impact the company's share price. The online review platform stated the report ignores publicly available information regarding its scale, policies, and enforcement, based on a basic misunderstanding of its business model. Trustpilot confirmed that over 97% of businesses on its platform do not pay for subscriptions and all are subject to the same strict moderation guidelines to ensure review integrity.
SSP Group SSPG reported significant share purchases by multiple directors, with Group CEO Patrick Coveney leading the way with a purchase of shares worth over £251,000. Senior Independent Director Carolyn Bradley, Non-Executive Director Karina Deacon, Timothy Lodge, and Apurvi Sheth also acquired shares. The collective buying, totaling more than £320,000, indicates a strong vote of confidence from the company's leadership in its outlook and valuation.
The Federal Court of Australia has approved the settlement of the Samarco Australian shareholder class action, as announced by BHP Group BHP. The settlement sum stands at AU$110 million, inclusive of interest and costs, though the company stated it makes no admission of liability. Most of the settlement amount is expected to be recovered by BHP from its insurers, providing financial clarity on this long-standing legal matter.
Neo Energy Metals NEO, a uranium developer, has published a new corporate presentation on its website, offering a comprehensive overview of its operations. The update provides detailed information on the company's asset portfolio, near-term production plans for both uranium and gold, and key project economics. It also highlights strategic partnerships and its development pathway, reinforcing the company's growth trajectory within the energy and mining sectors.
OPG Power Ventures OPG announced that its subsidiary, OPG Power Generation Pvt Ltd, has received approval from the Tamil Nadu Electricity Regulatory Commission and subsequently executed a Power Purchase Agreement. The agreement with Tamil Nadu Power Distribution Corporation Limited is for the supply of 160 MW of electricity over a five-year term at a tariff of Rs 5.558 per kWh. Electricity supply is expected to begin in February 2026, marking a significant new contract for the India-focused power generator.
RC Fornax RCFX announced that all proposed resolutions at its General Meeting were duly passed by shareholders. Following the meeting, key directors subscribed for a total of 2,279,999 new shares at an issue price of 6 pence. Paul Reeves acquired 1,200,000 shares, and Nigel Harper added 666,666 shares, significantly increasing their respective holdings. This substantial insider investment underscores management's confidence in the company's strategy within the defence sector.
Wilmington WIL, a provider of data and education services, has completed the acquisition of RegTech software business Professional Group Conversia. This strategic acquisition is set to strengthen Wilmington's capabilities and market presence within the global Governance, Risk and Compliance sectors. The integration of Conversia's technology is expected to enhance Wilmington's offering of specialized information and training solutions.
Dr. James Routh, who is set to become Victrex VCT's Chief Executive Officer on 1 January 2026, has already purchased 4,520 ordinary shares in the company. The purchases, made in two separate transactions, represent a proactive investment by the incoming leader. This move signals his personal confidence in the high-performance polymer solutions provider and its future direction within its strategic markets.
ME Group International MEGP has concluded its exploration of strategic options, announcing the termination of its offer period. The company's Board confirmed that it did not receive an offer deemed to be in the best interests of all shareholders, leading to the cessation of discussions with interested parties. ME Group is now committed to its existing long-term strategy, prioritizing the organic growth of its core laundry and photobooth businesses.