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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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BATM Advanced Communications Ltd - Israel-based networking and medical technology company - Wins USD10 million contract from a long-standing government defence department customer for an advanced cyber security solution. Will commence delivery on the contract immediately, which is expected to complete in 2023. "The contract is for an advanced cyber security solution that comprises hardware and software. It includes a unique cyber defence capability for large volume high speed network traffic combined with elements of virtualisation protection developed under the Group's NFV offering," company explains.
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Henry Boot PLC - Sheffield, England-based construction and property development business - Buys industrial site in Welwyn Garden City for GBP6.2 million before costs from National Grid PLC. "The 3.0-acre site on Tewin Road is located in a well-established industrial area of the city and close to Junction 4 of the A1(M) benefitting from close proximity to the wider national motorway network beyond," Henry Boot explains. Says, subject to planning, the site will be redeveloped to deliver about 70,000 square foot of industrial warehouse space with a gross development value of about GBP20 million. Work is anticipated to start on site in the second quarter 2022.
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Franchise Brands PLC - Macclesfield-based multi-brand franchise business - Pleased with the progress over the past six months. System sales at Metro Rod returned to their "strong" pre-Covid growth levels, increasing by 21% compared to first half a year before and up 17% compared to first half of 2019. System sales of GBP23.8 million versus GBP19.7 million in first half of 2020 and GBP20.2 million in first six months of 2019. Notes B2C division has also performed strongly, and 40 new franchisees have been recruited. "Overall, the group's trading in the first half gives the board strong confidence in delivering a full year performance at least in line with market expectations and it will provide a further update on current trading and outlook at the time of the half year results," company adds. Interim results due on July 22.
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Mirriad Advertising PLC - London-based advertising agency - Enters two-year commercial partnership with an unnamed "tier one" North American media agency. "The non-exclusive agreement will accelerate the company's adoption of the in-content advertising format powered by Mirriad's patented technology," company says. Adds: "With over USD1 billion placed in media annually and vast experience in delivering media buying strategies, the company will work with Mirriad to expand the market for in-video advertising by introducing it to partner agencies and clients."
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KKV Secured Loan Fund Ltd - equipment leasing and asset finance investment company - Portfolio manager, KKV Investment Management Ltd, notifies firm that Chief Investment Officer Dawn Kendall's leave of absence has been extended to mid-September 2021. Had previously been expected Kendall would be back mid-July. "The company will provide a further update in due course and looks forward to Dawn's return to the portfolio manager in the near future," KKV Secured Loan Fund says.
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Nanoco Group PLC - Manchester, England-based heavy-metal-free quantum dots manufacturer - Signs development agreement for a project with a "very significant" unnamed Asian chemical company. "The project builds on recently completed feasibility work relating to the development of a potential new nano-material for the customer and the continued supply of a previously developed material. If the new nano-material is successfully developed, it will be suitable for use in electronic devices across a number of sensing applications and end markets," company explains. Says first phase of the project will complete in the second half of 2021. "The agreement outlines two further phases that are contingent on the success of the first phase and have the potential to run through to the end of [the 2022 financial year]," company adds.
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Eden Research PLC - Cirencester-based agricultural chemicals producer - Says its bionematicide, Cedroz, has received authorisation for sale in Morocco and its biofungicide, Mevalone, gets sale approval in Romania. The approval in Morocco covers the use of Cedroz on tomatoes and cucumbers and Romania Mevalone green light is for use on wine and table grapes. "We are delighted by these new authorisations, which represent the first approval of Eden-developed products in the Moroccan and Romania markets, led by our commercial collaborators, Eastman and KNE Certis, respectively," says Chief Executive Sean Smith.
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Belluscura PLC - London-based oxygen enrichment technology developer - Signs second US distribution agreement for its X-PLO2R portable oxygen concentrator portfolio. "This is the next stage in establishing US-wide distribution coverage as part of the group's commercialisation strategy," company explains. Adds: "The distributor, located in the Midwest US, is a leading nationwide seller of supplemental oxygen and respiratory equipment. The distributor immediately issued its first purchase order with anticipated delivery of the X-PLO2R portable oxygen concentrator expected in the third quarter of this year."
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Amur Minerals Corp - natural resources explorer with assets in far-east Russia - Sells wholly-owned subsidiary Carlo Holdings Ltd for a cash consideration of USD6.1 million through share sale agreement with Hamilton Investments Ltd, a subsidiary of Britmar (Asia) Pte Ltd. Carlo holds Amur's investment of USD4.7 million in secured convertible loan notes in Nathan River Resources which owns the Roper Bar iron ore project located in the Northern Territory in Australia.
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Tekcapital PLC - UK intellectual property investment company - Portfolio company Lucyd Ltd's US operating company, Innovative Eyewear Inc, signs exclusive purchase and distribution agreement with 8 Points Inc, a subsidiary of Marca Eyewear Group Inc, a Canadian distributor that provides high-end spectacles for optical stores and eye care professionals. Deal sets out a minimum purchase requirement of USD4.6 million worth of Lucyd Lyte e-glasses over 30 months, to maintain retail distribution exclusivity in Canada. "Monthly minimum committed purchases increase incrementally over the term of the agreement. In the event that 8 Points Inc does not meet the minimum monthly purchase requirements, Lucyd may convert 8 Points Inc's exclusive rights to non-exclusive rights for the remainder of the term or terminate the agreement," company adds.
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One Media iP Group PLC - Buckinghamshire, England-based digital media content provider - Says subsidiary TCAT Ltd gets advance assurance in relation to Enterprise Investment Scheme from the UK HM Revenues & Customs. Company is seeking to separate TCAT from core business. "The EIS advance assurance received from HMRC in relation to TCAT facilitates the company to seek new sources of funding to invest in TCAT," One Media explains. Adds: "TCAT is a software as a service platform, which was developed in-house at One Media to detect copyright infringement within legitimate digital music stores."
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Westmount Energy Ltd - invests in companies which operate in oil & gas related industries - Says Jabillo-1 well did not encounter commercial hydrocarbons. The focus of the ExxonMobil Corp-operated Canje drilling campaign now switches to the Sapote-1 well, which is located more than 100 kilometres to the south east, it says. Westmount holds an indirect interest in the Canje Block as a result of its 7.2% interest in JHI Associates Inc. Eco Atlantic Oil & Gas Ltd, which holds a 6.4% stake in JHI with an option to increase this to 10%, also notes the news. Westmount shares plummet 20% and Eco Atlantic shares down 12%.
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Team PLC - Jersey-based active fund management - Buys JCAP Ltd, trading as JCAP Treasury Services, a Jersey-based provider of cash management services, for total net consideration up to GBP3.0 million, with GBP2.2 million in cash in GBP737,499 in new shares at 74.7 pence each. Deferred payment of up to GBP735,500 dependent on certain performance targets. JCAP has over GBP1.3 billion in assets under advice.
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Blencowe Resources PLC - natural resources company focused on the development of the Orom-Cross graphite project in Uganda - Says Stage Two drilling program at Orom-Cross graphite project that commenced in June is over halfway through, with full completion and demobilisation expected before end-July. To date 41 holes out of 74, for about 1,200 metres of overall 2,000 metres diamond drilling, completed and the first batch of 554 samples sent off. "Blencowe is making excellent progress everywhere and the continued good work in the field by our technical partners within Uganda will allow us to upgrade our JORC Resource for Orom-Cross in the fourth quarter of 2021," Chief Executive Cameron Pearce says.
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Shefa Gems Ltd - precious stones explorer in Israel - After consulting with Shany Group, decides share consolidation on 100-for-1 basis is "not appropriate" at current time. "The company is only proposing to increase the company's registered share capital to 1 trillion ordinary shares in the capital of the company and to cancel the par value of the ordinary shares," firm says.
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G3 Exploration Ltd - holding company which owns Greka Gas China Ltd - Says should be treated as insolvent. "The joint official liquidators have filed the formal certificate with the Grand Court of the Cayman Islands to confirm this determination. The effect of this change in the determination of solvency is that now only the company's creditors are deemed to have an economic interest in the official liquidation," company explains.
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By Paul McGowan; paulmcgowan@alliancenews.com
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