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(Alliance News) - The following is a round-up of updates by London-listed companies, issued Monday and not separately reported by Alliance News:
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Kingswood Holdings Ltd - London-based wealth manager - Completes acquisition of Joseph R Lamb Independent Financial Advisers Ltd, an advisory business based in Rayleigh, Essex, for up to GBP15.3 million payable over 2 years. Will pay GBP7.7 million up front with balance paid on a deferred basis, some of which is subject to the achievement of pre-agreed performance targets. Joseph Lamb has about GBP393 million in assets under administration, generating revenue of GBP3.8 million in year to June 30. Also completes acquisition of Allots Financial Services Ltd.
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Mode Global Holdings PLC - bitcoin banking app based in London - Enters partnership with technology-driven e-commerce platform Heroes, which will enable employees of the firm to take some of their monthly salary in bitcoin. "Mode's payroll offering allows interested employees the option to invest in the crypto asset on a monthly basis, which means they can ride the monthly fluctuations in price and invest steadily in the world's most popular digital asset," company says. Mode notes Heroes now becomes one of the first companies in UK to be offering to pay its employees in bitcoin.
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Argo Blockchain PLC - London-based cryptocurrency miner - In January, mined 172 bitcoin or bitcoin equivalent, down 19% from 214 in December. This reduction during January is primarily due to an increase in network difficulty, company says. Mining revenue falls to GBP5.3 million from GBP7.8 million at a lower bitcoin mining margin of 74% versus 83% in December. At the end of January, the company owned 2,748 bitcoin of which 262 were bitcoin equivalents, which is worth roughly GBP115 million at current prices. Chief Executive Peter Wall says: "As our mining operations continue to develop and the completion date of Helios, our new mining facility, approaches, this month we have laid the foundations for executing our growth strategy for 2022 and achieving the objectives we have set for the company in the year ahead."
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Quantum Exponential Group PLC - quantum technology investment firm - Arqit Quantum Inc, a quantum encryption technology company for which Quantum has an option to be transferred 199,993 ordinary shares, signs cooperative research & development agreement with US Air Force. "The agreement aims to demonstrate the functionality of Arqit's QuantumCloud and prove the viability of quantum encryption to government users," company says. Quantum explains Arqit's product, QuantumCloud, enables any device to download a lightweight software agent of less than 200 lines of code, which can create encryption keys in partnership with any other device.
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musicMagpie PLC - Manchester-based used-technology reseller - Expands rental subscription service beyond smartphones and into new product categories such as tablets, games consoles and MacBook laptops. Monthly rental fees start at GBP8.99 for a refurbished phone, GBP11.99 for a console, GBP12.99 for an iPad, and GBP19.99 for a MacBook.
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Personal Group Holdings PLC - Milton Keynes, Buckinghamshire-based employee benefits and services provider - Extends existing agreement with Sage Group PLC by signing new five-year contract. The pair offer Sage Employee Benefits, a digital workforce engagement platform for small and mid-sized businesses based on Personal Group technology. "The new contract builds on the success of Personal Group and Sage's partnership over the past year and will see the two companies continue to take this best-of-breed market proposition to more customers. Following its establishment several years ago, momentum in small to medium businesses using the Sage Employee Benefits platform has picked up significantly in 2021 growing from 30 [small and mid-sized business] users at the start of 2021 to about 1,500 by the end of the year generating an increased gross annual recurring revenue of GBP1.6 million."
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Ten Lifestyle Group PLC - London-based lifestyle and travel service platform - Wins competitive tender with an unnamed existing global financial services client to continue providing digitally enabled concierge services to its customers in the EMEA region. Company says: "The client's renewed commitment to driving the engagement of its high-net-worth customers, and increased activity as EMEA continues to recover from the effects of the pandemic, are expected to grow the existing medium contract, with the potential to become a large contract during the multi-year term of the renewal."
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MTI Wireless Edge Ltd - Israel-based technology company - Says Distribution & Professional Consulting Services unit secures two orders totalling USD1.6 million. The orders, which are for USD800,000 each, were received by PSK and MTI Summit and will be delivered in 2022. Chief Executive Moni Borovitz "very pleased with these orders from returning customers".
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Goodbody Health Inc - Cannabidiol products company formerly known as Sativa Wellness Group - Subsidiary Phytovista Laboratories achieves "another significant milestone" with an extension to its ISO 17025 UKAS accreditation, which it allows it to test to meet UK Government Chemist and the Advisory Council on the Misuse of Drugs guidance. Notes it is "one of a very small number" of laboratories accredited for this type of testing. "PhytoVista laboratories is now ideally positioned to help CBD companies achieve compliance by providing data in accordance with the ACMD guidance on acceptable levels of controlled cannabinoids in consumer products," company explains.
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Thor Explorations Ltd - Vancouver-based mineral explorer with assets in west Africa - Starts 2022 exploration campaign at the Douta gold project in Senegal. Douta encompasses the Makosa gold deposit which currently has inferred resource of 730,000 ounces of gold. Says comprehensive exploration program, twill start with a first phase of 5,000 metres of reverse circulation drilling, designed to extend the strike extensions of the resource which remains open-ended along strike to the north. The work will test three priority targets within the licence.
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Oracle Power PLC - London-based power and natural resource project developer with projects focused in Pakistan - Starts drill programme over five geochemical target areas at its 100% owned Jundee East gold project, located in the Eastern Goldfields region of Western Australia. Will drill 62 holes, to a depth of 120 metres, for a total of 7,440 metres. Chief Executive Naheed Memon says start of programme is "fantastic".
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By Paul McGowan; paulmcgowan@alliancenews.com
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