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(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Alba Mineral Resources PLC - Northern Europe-focused mineral explorer - Says that three gold targets have been identified from a recent survey at the Dolgellau gold belt. Two of these targets are within the jurisdiction of the Clogau-St David's gold mine in north Wales, which Alba owns. The third has been identified on a fault that extends four kilometres north-easterly in the gold belt, therefore falling within the Dolgellau gold exploration project. However, these new targets are only one part of the airborne magnetic survey. Interpretation of the survey data over the Carndochan and Hafod Owen prospects will be reported on in due course.
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Aseana Properties Ltd - property developer in Malaysia - Says all conditions for the settlement agreement have been satisfied, and that 38.8 million shares originally transferred from ICB to Aseana have been cancelled. Following the share cancellation, Aseana has an issued share capital of 173.2 million ordinary shares of USD0.05, each with one vote per ordinary share, and 2 management shares of USD0.05 each, with one vote per management share.
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Ascent Resources PLC - oil and gas exploration company focused on European onshore project - Notes that the high court has rendered final approval of the insolvency of Geoenergo, its Slovenian joint venture partner. As of December 21, Ascent is still owed EUR8.0 million of revenue. It is currently working to register Ascent Slovenia Ltd's claim in the insolvency proceedings, and is also looking at possibly initiating civil and criminal charges against the directors and shareholders of Geoenergo.
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DCI Advisors Ltd - British Virgin Islands-based investor in the luxury residential resort sector - Says that its former manager, Dolphin Capital Partners Ltd, has contacted a number of shareholders, claiming that the litigation DCI is pursuing against DCP could be "unaffordable" for the company. On the basis of this communication, one shareholder "has even suggested that DCI obtains third party funding for its litigation". Accordingly, DCI Advisors says that it has started exploring litigation funding, with an agreement signed earlier this year. Additionally, notes that concerning litigation in Greece, it has the necessary funding in place, with a maximum cost estimated at EUR100,000. Explains that, if successful, the financial upside to this litigation could be EUR57 million.
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Princess Private Equity Holding Ltd - Partners Group Holding AG-managed investor in private companies - Notes that SRS Distribution Inc has entered a definitive agreement to be acquired by Home Depot Inc. Princess will value its stake in SRS at EUR67 million, corresponding to 1.6% of its net asset value as of January 31. The transaction is expected to complete by the end of this year, and is subject to regulatory approvals and other customary closing conditions.
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Honye Financial Services Ltd - Cayman Islands-based company seeking acquisitions in financial services and financial technology - For the year to July 31, posts a loss of GBP297,677, widened from GBP294,632. Attributes this to "the day-to-day administrative expenses and due diligence into prospective targets". Loss per share was GBP0.012, unchanged from a year prior. As at July 31, had cash of GBP303,000, narrowed from GBP569,000. Looking forward, Non-Executive Chair Shaun Carew-Wootton says: "There are still a number of steps necessary before being able to complete the acquisition and apply for the suspension of the trading in the company's shares to be lifted. Honye continues its cautious approach to investment and identification of suitable acquisition candidate(s), its running costs are low, and its asset is still cash in the bank."
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Renishaw PLC - Gloucestershire, England-based provider of manufacturing technologies, analytical instruments and medical devices - Says that Siemens AG has confirmed that it does not intend to make an offer for the company, despite recent press reports. According to Rule 2.8 of the financial code, however, reserves the right to announce an offer or possible offer in the next six months with the agreement or recommendation of the Siemens board.
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By Holly Beveridge, Alliance News reporter
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