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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Knights Group Holdings PLC - London-based professional services company - confirms that the acquisition of IBB Law LLP, an independent, full-service regional law firm with offices in Ascot, Beaconsfield, Reading and Uxbridge, has now completed. The acquisition adds 140 high quality professionals and a national client base to the group. "The acquisition is well-aligned with Knights' strategy to bolster its future organic growth through selective, considered acquisitions," company says.
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Kanabo Group PLC - London-based distributor of cannabis-derived medical products - Provides update regarding the company's financial position and strategic direction. Says the financial position has become "more uncertain" over the past month. Engages in ongoing discussions regarding a potential restructuring of its business, which may involve, among other options, asset disposals, mergers, or a refocus on the company's core business lines. Continues to assess its capital needs and funding requirements, including potential fundraising alternatives. In light of the uncertainty regarding the financial position, anticipates that completion and publication of the audited accounts for the year ended December 2024 will be delayed.
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4Global PLC - London-based data, services and software company specialising in major sporting events - enters into two agreements with Mace Ltd and Mace Consultancy (Peru) SAC. Since 2021, 4Global has been a consultant as part of a joint venture as a sub-contractor of Mace. Mace has retrospectively required that updated standalone contracts are signed in respect of phase 4 and phase 5 of a previous contract signed in January 2024. These agreements have been undertaken on the same commercial terms as the original agreements.
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Serica Energy PLC - North Sea-focused oil and gas producer - Says discussions regarding possible combination between Serica and EnQuest remain ongoing. As a result, requests put up or shut deadline be extended until May 2. EnQuest is now required by that date to either announce a firm intention to make an offer for Serica or announce that it does not intend to make such an offer.
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Alba Mineral Resources PLC - Northern Europe-focused mineral explorer - announces the successful auction of its exclusive 1 ounce gold coin, which fetched GBP20,000 at auction Thursday, or a premium of almost 8.5 times the spot price of gold. George Frangeskides, executive chair says: "This successful sale marks the achievement of an exciting milestone as we continue to advance our development work at Clogau."
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AIQ Ltd - company focused on acquiring and developing e-commerce sector businesses - enters into an agreement with Executive Director Li Chun Chung for an unsecured loan of GBP100,000, re-payable upon demand. Funds to be used for working capital purposes.
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Synergia Energy Ltd - West Perth, Australia-based oil and gas company - Updates on farm out agreement with Selan Exploration announced in February. Synergia had anticipated that the drilling of the first new well would commence in the second quarter, however, says Selan has informed that it is yet to contract a drilling rig and that the drilling operations will not commence before September. Similarly, the larger workover rig has yet to be contracted by Selan. Since the bulk of Synergia's costs in India are being carried by Selan, the company has minimized the financial impact of the delay in the commencement of the drilling program and the re-commencement of the workover program. Will continue to work closely with Selan to bring forward the drilling date as soon as is practicable in 2025 consistent with the farm out agreement.
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Helium One Global Ltd - Tanzania-focused helium exploration company - says Jackson-29 intermediate hole section successfully drilled to casing point and casing set. Cementing programme complete and evaluation underway but operations currently suspended due to weather conditions.
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Shuka Minerals PLC - Africa-focused mine operator and developer says the availability period for the entire GBP2.0 million amount of its convertible note instruments has been extended to March 31, 2026, while the redemption date has been extended by 12 months to March 31, 2027. The convertible notes were entered into in May 2024 with AUO Commercial Brokerage.
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Ormonde Mining PLC - natural resources company with assets in Newfoundland and Scotland - notes announcement Thursday by 36%-owned investee company TRU Precious Metals Corp which is exploring for gold and copper in the Canada. TRU is to drill test for the first time a pipeline of exploration targets at the Golden Rose Project which has been optioned by Eldorado Gold Corp. Ormonde says: "We are extremely excited to see the results of this forthcoming drill programme, the first pass in a larger plan to follow up on the pipeline of quality exploration targets."
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Kodal Minerals PLC - West Africa-focused mineral explorer and developer - provides update in relation to activities at the Bougouni Lithium Project, located in Southern Mali. Construction of Bougouni is near completion, and the project achieved first lithium spodumene concentrate product in February, Kodal says. The project is owned and operated by Kodal Mining (UK) Ltd in which Kodal has a 49% interest. Says the Bougouni Lithium Mine Dense Media Separation processing plant has produced over 11,000 tonnes of spodumene concentrate to date and is ramping up towards commercial production.
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Solvonis Therapeutics PLC - London-based biotechnology company aiming to develop innovative treatments for mental health and substance use disorders - announces it has engaged PharmaVentures Ltd, a global biopharma transaction advisory firm, to support the commercialisation of two clinical-stage programmes, AWKN-001 and AWKN-002. These programmes are being acquired by Solvonis through its proposed acquisition of Awakn Life Sciences Corp, first announced in December. The deal is expected to complete in the second quarter of 2025.
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Canadian General Investments Ltd - closed-end equity fund focused on Canadian companies - reports net asset value per share at March 31 is CAD63.60 resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of minus 7.9% and plus 2.8%, respectively. These compare with the 1.5% and 15.8% returns of the benchmark S&P/TSX Composite Index on a total return basis for the same periods.
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By Jeremy Cutler, Alliance News reporter
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