(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Corcel PLC - London-based mining and mineral resource development company with interests in flexible energy storage and production - Receives formal renewal of exploration license 1165, now valid through February 2024. Retains 100% interest in the project and is currently in the process of restructuring this interest into an Asian-based joint venture. The project is located 20 kilometres from the Papua New Guinea capital of Port Moresby. "After several years of COVID-related delays, this renewal now brings permitting fully up to date at Wowo Gap and enables the project to move forward accordingly and ultimately together with our new partners under the Integrated Battery Metals structure in Asia," says Chief Executive Officer Scott Kaintz
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Amte Power PLC - London-based developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist markets - Amends terms of its facility with Arena Investors LP. Says it has agreed to reduce the minimum conversion by Arena to GBP25,000 from GBP150,000 and to reduce the minimum drawdown by the company after the second tranche to GBP250,000 from GBP1.0 million. Says the amendment has been made to "enhance the flexibility associated with the facility".
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Nippon Active Value Fund PLC - Japanese small-cap-focused investment trust - In conjunction with Michael 1925 LLC, it is supporting the management buyout launched by Tokuo Nakano, the chair of Ihara Science Corp. Together, Nippon & Michael 1925, own 1.4 million shares in Ihara Science, of which 1.0 million owned by Nippon Active Fund. They intend to tender all the shares under their joint joint control at the offer price of JPY2,980.
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Hercules Site Services PLC - Cirencester, England-based labour supply company for the infrastructure sector - Enters agreement with Amey Highways Ltd to be Amey's sole supplier of suction excavator services to the National Highways Area 7, East Midlands contract. Under the agreement, Hercules will supply suction excavators and associated skilled operators to Amey for a period of three years. The initial order is for up to GBP2.0 million, and will be reviewed every three years, or earlier if required.
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GreenX Metals Ltd - developing Arctic Rift copper project in Greenland - Completes GBP3.9 million placing of 12.4 million new shares priced at 31 pence each. Says the placing was carried out with new and existing UK and European investors and some Australian investors. Says the proceeds will be used for exploration activities in Greenland, business development through identifying other suitable business opportunities in the resources sector, and administration expenses.
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By Sophie Rose, Alliance News reporter
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