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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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STS Global Income & Growth Trust - has a "balanced portfolio constructed from global equities" - Says net asset value at March 31 was 223.71 pence up from 220.37p a year prior. Adds the NAV total return for the year was 4.8%, and the share price total return was 6.1%, compared to a total return of 11.5% in the Lipper Global - Equity Global Income Index. This compares to a net asset value total return of negative 1.8%, a share price total return of negative 4.8% and a total return of 0.5% in the Lipper Global - Equity Global Income Index in the previous year. Announces fourth quarterly dividend of 1.525p per share.
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Orcadian Energy PLC - oil and gas development company - Announces that it has agreed a non-binding heads of agreement with a potential farm-in partner on its recently awarded SNS Licence. This grants the potential partner a period of commercial exclusivity. This runs to the end of 2024. Under the terms, an affiliate of the partner agrees a loan of USD1.4 million to Orcadian for up to two years.
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Powerhouse Energy Group PLC - Bingley, England-based non-recyclable waste-to-energy conversion company - Announces that the claim originally issued in October by GetGo Recycling Ltd, now called Onunda Ltd, against its European patent and patent applications has been resolved. Explains an agreement has been reached to resolve the issues and the company looks forward to progressing its other patent applications within Europe and the rest of the world. The agreement ensures that no additional challenge to Powerhouse's patents worldwide will be raised by Onunda or any of its group companies, now or in the future.
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Future PLC - Bath, England-based online magazine publisher and owner of price comparison website Go Compare - Starts the previously announced GBP45 million share buyback programme.
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Neometals Ltd - London-based battery materials producer - Says the final electrolysis stage of ELi Process pilot trials has commenced in Canada at NESi, the testing facility of electrolyser vendor, NORAM. The test work will electrolyse a purified lithium chloride solution from an operating South American brine source and produce lithium hydroxide as the primary product. The long-duration component of the trial will provide data confirming expected power consumption, membrane life and product quality to support ongoing technology licensing activities.
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Bradda Head Lithium Ltd - North American-focused lithium explorer - Provides an update on work at its Basin project in Arizona. Says the lithium-in-clay, resource-expansion drilling programme has concluded with the completion of eight drill holes on the Basin North target portion of the Basin project. Notes a resource expansion from 1.08 million tons to a minimum of 2.5 MT of lithium carbonate equivalent would generate a USD3 million royalty payment to Bradda Head from Lithium Royalty Co. To date, notes partial results have been received, with the remainder still pending.
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Warpaint London PLC - Buckinghamshire-based colour cosmetics supplier, which owns the W7 and Technic brands - Announces that its ordinary shares have been approved to trade on the OTCQX Best Market in the US. Trading starts Wednesday. Will continue to trade on the AIM market of the London Stock Exchange. Believes this will provide enhanced investor benefits, including easier trading access for certain investors located in the US, and greater liquidity due to a broader geographic pool of potential investors.
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Zotefoams PLC - cellular material technology provider - Provides a positive trading update for the four months ended April ahead of Wednesday's annual general meeting. Says trading in the period has been strong, with the group sustaining the positive momentum seen in financial 2023 to deliver overall sales growth of 14% and record revenue. Highlights a 46% increase in high-performance products sales but notes Polyolefin Foams sales declined 7%. Full-year expectations remain unchanged. Further, as previously announced David Stirling steps down as chief executive after the AGM.
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The Artisanal Spirits Co PLC - Edinburgh, Scotland-based distiller of single-cask and limited-edition whiskies - Issues trading update ahead of Wednesday's annual general meeting. Confirms that the positive profit improvement momentum from the second half of financial 2023 has continued into early financial 2024, with first quarter earnings before interest, tax, depreciation and amortisation up by over GBP0.5 million versus the prior year. This performance is slightly ahead of expectations. Continue to anticipate full year consensus revenue growth of mid-single digit percentage year on year. Remains on track to meet full year consensus Ebitda of GBP1 million.
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Ilika PLC - Romsey, England-based solid-state battery technology company - Announces the start of testing of its initial batch of P1 Goliath electric vehicle prototype batteries in a customer-sponsored programme. This follows the successful completion of production and in-house testing. Chief Executive Graeme Purdy states: "Ilika has successfully delivered another milestone on its Goliath roadmap. We are delighted to be engaging with a portfolio of interested OEMs and Tier 1 companies on commercially sponsored evaluation programmes. We continue to progress towards commercialisation as planned and remain on track to demonstrate our Goliath technology at pilot scale to underpin licensing discussions and technology transfer. Our near-term focus is on increasing battery testing capacity and upgrading our dry rooms, with development strongly aligned to the market growth and structural drivers within the EV sector."
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Regional REIT Ltd - commercial property investor - Issues trading update for the quarter to March. Says gross property assets were worth GBP688.2 million at the end of the first-quarter, falling 1.8% from GBP700.7 million at the end of December. Rent roll totals GBP65.5 million down from GBP67.8 million at December 31, EPRA occupancy is at 79.9% down slightly from 80.0%. Total rent collection for the quarter is currently at 97.2%, up on-year from 96.3%. It adds: "Although the inflationary backdrop continues to impact the economy, there are signs that inflation is heading back towards the Bank of England's two percent target, allowing for a more favourable outlook for the company." Says will pay dividend of 1.20 pence per share for the quarter.
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Polarean Imaging PLC - medical imaging technology developer - Raises USD10 million via placing and subscription announced Monday at 1 pence per share. Notes the subscription included an investment from existing investors NUKEM Isotopes GmbH and Bracco Imaging SpA and certain Directors and management of the company. NUKEM invests USD2.5 million, and Bracco USD2 million. Directors and management invest USD321,000. Proceeds will be used to accelerate commercialisation of XENOVIEW, to support the continued investment in research and development. Further, plans to raises USD2.5 million via open offer to shareholders. Terms of open offer are 9 open offer shares for every 10 existing ordinary shares held at a price of 1p per open offer share.
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PCI-PAL PLC - London-based cloud payment and data protection solutions provider - Announces that the Court of Appeal for England & Wales has ruled in its favour in the unfounded patent litigation case brought by its competitor Sycurio Ltd. Court dismisses appeal and upholds original ruling. Court awards damages to PCI-PAL of GBP1.1 million.
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By Jeremy Cutler, Alliance News reporter
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