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(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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abrdn European Logistics Income PLC - investment fund focusing on European logistics real estate - Agrees a 28,500 squared metres lease renewal with Biocoop, a organic food distributor, at its sustainable warehouse near Avignon, France. Says the 12-year lease will generate annual contracted rent of EUR2.5 million. "Located in Noves, in South Eastern Provence, the property benefits from excellent transport links, with direct access to the A7 and A9 motorways, as well as the nearby Avignon airport. The region is renowned for its production of fresh flowers, fruit and vegetables, and as a food distribution hub, with Carrefour, Aldi and Systeme U operating distribution centres in the area," abrdn European Logistics Income says.
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Tlou Energy Ltd - Brisbane, Australia-based power project developer with large gas field in Botswana - Receives AUD2 million loan, around GBP1.1 million, from ILC Investments Pty Ltd. ILC is already Tlou's largest shareholder having provided AUD7.5 million in capital via previous share placements. The loan has a three-year term, beginning May 1. Interest will be charged at 10% per annum and payable each quarter. Funds are planned to be used to further Tlou's operations in Botswana and working capital requirements. "ILC has also indicated it is willing to continue to provide funding support to assist the Company to reach its goal of connecting to the power grid and earning first revenue through the sale of electricity in Botswana," Tlou says.
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Aura Energy Ltd - London-based minerals company that holds projects in Mauritania and Sweden - Requests Australian Securities Exchange to immediately halt trading in its shares quoted on the ASX. Says the suspension is pending "an announcement in relation to a capital raising." Expects trading in its shares to resume on ASX either when the expected announcement is made, or upon market open on the ASX on May 3. Trading in Aura's shares will continue to trade as normal on AIM.
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Live Co Group PLC - Surrey, England-based live events, entertainment and sports events company - Notes concert in Madrid will take place on July 22 at the 52,000 seat Civitas Metropolitano stadium. Says it has sold 18,000 tickets, with a EUR2.2 million face value. Chair David Ciclitira says: "The buzz and excitement of bringing KPOPLUX to Spain has been extraordinary and I am delighted that 18,000 tickets have been sold with only half of the artists announced."
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HeiQ PLC - Materials innovation and hygiene technologies company - Shares temporarily suspended, as fails to publish 2022 results. Expects to publish audited reports and accounts in "the coming weeks."
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National World PLC - Leeds-based multimedia company - Announces two acquisitions Insider Media Ltd and Rotherham Advertiser. Insider Media is a B2B media company. In the post-acquisition period ending 31 December 2023, National World expects Insider Media to achieve revenue of GBP5.6 million and GBP1.0 million Ebitda before exceptional costs. Says two acquisitions are part of its strategy to "create a fully digitised multi-platform premium content and sales business." Adds that Rotherham Advertiser acquisition complements National World's reach across the South Yorkshire, Derbyshire and North Nottinghamshire markets. Chair David Montgomery says: "Over the last 12 months we have made a number of targeted investments and acquisitions designed to accelerate our progress, increase our capabilities and grow the audience for our high-quality content."
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Adalan Ventures PLC - Russian-focused fintech company, formerly known as Zaim Credit Systems PLC - Says audited annual results for 2022 will be delayed and not meet the required deadline. Notes complexities around the availability of financial information and associated delays as a result of the unforeseen loss of its main operating subsidiary and financial records mid way through the 2022. Says it is in the process of changing its name to Adalan Ventures and following this intends to undertake a share consolidation to generate lower and more appropriate number of shares in issue.
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Chamberlin PLC - Walsall, West Midlands-based castings and engineering company - Exchanges contracts for sale and leaseback of its freehold property in Chuckery Road, Walsall with Heritage and Hill Investments Ltd. Says the sale proceeds are GBP2.2 million in cash and Chamberlin has a 10 year lease for the property at an initial rent of GBP200,000 per annum, with a rent review after five years. The property had a net book value of GBP1.6 million at May 31, 2022. The proceeds will be used to reduce the company's pension fund deficit by GBP.1 million. Completion of the sale and leaseback is expected to occur on June 16.
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Chariot Ltd - Africa-focused transitional energy company - Enters partnership agreement with Vivo Energy to develop gas to the industrial customers in Morocco. Aims to create a midstream joint venture that will oversee the distribution of natural gas. "Vivo Energy, the market-leading, pan-African retailer and distributor of high-quality fuels and lubricants has a long-standing presence in Morocco's petroleum products' sector, operating a network of over 400 service stations and supplying commercial and industrial customers across a number of sectors in the Kingdom," Chariot says.
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Synectics PLC - Sheffield, England-based advanced security and surveillance provider - In December, Synectics was awarded a surveillance system contract for a large new-build casino resort in the Philippines, which had been expected to be operational in late 2023. Says it now expects to receive further purchase orders from the contract, bringing the value of the project to about USD3 million. Expects this will be delivered in the fourth quarter of the company's financial year ended 30 November 2023. CEO Paul Webb says: "Whilst casino operations in the region have now largely returned to normal, expected projects across the sector are still experiencing delays. It is heartening that this project is now proceeding, albeit later than previously expected."
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By Sophie Rose, Alliance News reporter
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