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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Ince Group PLC - London-based legal services company - Proposes to raise GBP4 million via a placing at price of 6 pence per share. Proposes to raise GBP250,000 through a retail offer at the same price. Expects the retail offer to close on Wednesday. Estimates that revenue for the six months to June 30 will be around GBP41 million, down versus GBP49.9 million a year before. Attributes this to the disruption caused by a cyber-attack at the end of March 2022, the recent accounting deconsolidations of Singapore and Germany entities and restructuring and business disposals. Expects that the second half of this year will be stronger. Seeks to achieve a sustainable revenue platform focused on profitable growth. Initial estimates of revenue from continuing operations in the UK for the first half of financial 2023 are GBP21 million. Notes that the audit of its results for financial 2022 is delayed, due to ongoing delays in China on the back of Covid-19 restrictions.
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GreenRoc Mining PLC - London-based miner-focused mineral projects in Greenland - Expects that its Amitsoq Graphite Project in Greenland will be "significantly upgraded" in the coming weeks, following its "highly successful" 2022 drilling campaign in summer. Appoints ProGraphite GmbH, a graphite expert, to act as advise on the technical and commercial aspects of graphite processing, sales and marketing. Appoints UVR-FIA GmbH to complete test work on a roughly 700 kilogrammes bulk sample of graphite ore collected from the Amitsoq graphite mine. Expects the results to help "refine" the best processing techniques and develop and characterise saleable products for the electric vehicle battery market.
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Alba Mineral Resources PLC - London-based mineral exploration company - Notes developments at the Amitsoq project. Alba holds a 54% majority interest in Greenoc.
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Castillo Copper Ltd - Perth, Australia-based exploration company focused on copper across Australia and Zambia - Says that assay results shallow rare earth elements mineralisation discovery across the central part of BHA Project's East Zone. Adds that all the assays returned from Fence Gossan, Tors Tank and Reefs Tank to date highlight that the mineralisation discovered is also extensive. "The board is delighted with the new assays as they show consistent shallow REE mineralisation across a wide part of the BHA Project's East Zone. Moreover, the interpreted scale of this shallow REE discovery, within a mining friendly district, is an outstanding result which has the potential to create significant value for shareholders," Chair Ged Hall comments.
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Helios Underwriting PLC - London-based investment vehicle which acquires and consolidates underwriting capacity at Lloyd's - Plans a conditional placing, subscription and open offer to raise up to GBP13.5 million. As part of this, it raises GBP312,000 through the issue of 200,000 new shares at GBP1.56 per share as part of a subscription agreement with Chair Michael Cunningham. Expects to use the net proceeds to fund the necessary underwriting capital for its 2023 underwriting year and for acquiring new limited liability vehicles.
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Amaroq Minerals Ltd - Greenland-focused gold mining company - Says it conducted surface exploration across three sites at its Sava project in Greenland. Says that the results "suggest" a potentially large iron oxide and copper-gold mineral system. Notes that the samples also demonstrated elevated levels of molybdenum, a valuable element used in metal alloys, as well as copper, silver, lead, iron, and light rare earth elements.
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Crystal Amber Fund Ltd - AIM-listed activist fund investing predominantly in small and mid-cap UK equities - 30% of shareholders vote against resolution 3 at the annual general meeting on October 6. Adds that another 30% voted against resolution 9.
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Seeing Machines Ltd - Canberra, Australia-based driver assistance technology - Says that cars on road increased more than tripled to 559,302 units in the first quarter of 2022, from 183,517 units a year before. Records a 19% increase in guardian connections to 41,415 from 34,910. " Our technology is well entrenched as market leading and that is evidenced by the momentum we see in our dealings and importantly, the numbers. It is tremendous to see cars on road, fitted with our technology, increasing with a significant year-on-year hike and 25% increase over the final quarter of fiscal FY22, as more of our ongoing programs progress into production," Chief Executive Paul McGlone comments.
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Foxtons Group PLC - London-based estate agency - Reports that "significant" minority votes were cast against resolutions 6, 8 and 10, pertaining to the re-election of three of its independent non-executive directors. "I would like to take this opportunity on behalf of the board to thank Alan and Sheena for their significant support and contribution as non-executive directors since I joined the business and wish them well with their new endeavours," Chair Nigel Rich comments.
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Barryroe Offshore Energy PLC - Dublin, Ireland-based oil & gas exploration company previously known as Providence Resources PLC - Enters into a funding agreement with Vevan Unlimited Co, an existing shareholder, for its work programme proposed in a lease undertaking application. The funding will be in the form of redeemable convertible secured loan notes. "We are delighted with such a comprehensive solution to funding for the work programme set out in our Lease Undertaking application. I look forward to engaging with DECC on our Lease Undertaking application and the granting of the same subject to Ministerial consent. Thank you again to all our shareholders for their continuing support," CEO Alan Curran comments.
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ThinkSmart Ltd - Perth, Australia-based digital payments platform - Says that the scheme of arrangement for its acquisition by Tuscan Equity Pty Ltd is now legally effective. Says that its shares were suspended from trading on AIM on Wednesday as a result.
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Artemis Resources Ltd - Perth-based miner with gold, copper and cobalt projects in Australia - Reports that 36% of shareholders voted against resolution 1 and the adoption of a remuneration report.
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By Abby Amoakuh; abbyamoakuh@alliancenews.com
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