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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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Marlowe PLC - London-based safety services and software provider - Acquires environmental safety testing and consultancy business Santia Ltd for a GBP4.5 million consideration. This includes GBP4.3 million initial payment and a deferred GBP200,000 to be paid pending the achievement of certain integration objectives. Plans to settle acquisition with its existing cash resources. Says the acquisition offers "attractive synergies" with its water and air hygiene platform, WCS Group. Notes that Santia produced adjusted earnings before interest, tax, depreciation and amortisation of GBP800,000 on revenue of GBP10.6 million in 2019.
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Gaming Realms PLC - London-based developer of mobile betting games - Launches content in Pennsylvania, US, after obtaining an Interactive Gaming Manufacturer Licence in the state. Takes its first Slingo game live in Pennsylvania with BetMGM, with more games to follow. Notes agreements with a number of operators, including Rush Street Interactive in Pennsylvania. Says the launch follows launches with operators in New Jersey and Michigan. Executive Chair Michael Buckley says: "We are delighted to be launching our Slingo Originals games in Pennsylvania, which is one of the three leading US states for iGaming and where gambling revenue increased over 60% year-on-year in July 2021."
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Avation PLC - passenger aircraft leasing company based in Singapore - Repays outstanding export credit agency insured loans associated with eight ATR 72 aircraft previously on lease to Virgin Australia Airlines. Says it repaid the loans with released deposits held by the export credit agencies and a new commercial bank financing package. Its financing package is backed by the leases of three ATR 72 aircraft to Heviliftm, the company notes. Executive Chair Jeff Chatfield adds: "The export credit loans associated with the Virgin Australian aircraft have now been refinanced and retired. It is pleasing that commercial bank aircraft lending appears to be reopening following the disruption caused by Covid-19".
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Chariot Ltd - Africa-focused transitional energy company - Agrees drilling rig contract with Stena Drilling. Plans to use the contractor's Stena Don drilling rig for the planned Anchois gas appraisal well in its Lixus licence, offshore Morocco. Expects drilling to begin in December and last for forty days.
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Arecor Therapeutics PLC - Saffron Walden, England-based biopharmaceutical company - Signs formulation agreement with Intas Pharmaceuticals Ltd to develop a differentiated product for Intas, who will fund the development work. Instas has the option to acquire the global rights and commercialise any products produced, the company notes. The product will be based on Arecor's proprietary formulation technology platform Arestat, which "enhances the properties of therapeutic proteins, peptides and vaccines...to deliver superior reformulations of existing products as well as improving properties of new products in development," the company says.
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Shearwater Group PLC - London-based cybersecurity provider - Sees group company Pentest Ltd secure a one-year contract renewal worth USD1 million. Under the renewed contract Pentest will continue to provide vulnerability assessment and penetration testing services to an unnamed global technology corporation, the company says. "Securing this major contract renewal, with Pentest again being selected as the preferred supplier for a global technology client, highlights the quality and depth of work being provided by companies within our group," adds Chief Executive Phil Higgins.
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Eqtec PLC - Cork, Ireland-based gasification and engineering company - Agrees to extend the option period with Rotunda Group Ltd and its subsidiary Shankley Biogas Ltd for the Southport Hybrid Energy Park project up to September 30. Says the extension was agreed after Covid-19 disruption prevented the parties from concluding the acquisition before the initial option period ended. Expects to take full ownership of the project from Rotunda through the acquisition of the project's special-purpose vehicle Shankley Biogas Ltd.
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Duke Royalty Ltd - royalty finance company - Provides a GBP2.2 million follow-on investment in IT-focused investment holding company InTec Business Solutions Ltd, which will fund its latest acquisition. Says InTec plans to acquire Cumbria-based a IT managed services company Miller Waite Ltd. Following this addition, the company's investment in InTec totals GBP9.9 million. Chief executive of Duke Royalty, Neil Johnson, says: "We are pleased to see that InTec's clearly defined strategy is off to a strong start, with Miller Waite adding additional product, profitability and diversification to the business. Miller Waite has a longstanding SME client base, which speaks to the quality of its offering."
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Blackbird PLC - London-based cloud video editing platform - Says a global broadcast company has licensed its core video technology, Blackbird, including its patented video codec technology, in a 5-year deal. Expects the contact value to total EUR2 million over the length of the contract. Chief Executive Ian McDonough says: "Under this first technology licensing contract, the [original equipment manufacturer] partner will use the core Blackbird video technology to provide the basis for their own advanced on premise and cloud native editing platform, extending its use into new product areas. They will sell the editing software as an integral part of their broadcast production suite to their customers around the world."
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United Oil & Gas PLC - AIM-listed oil & gas company with assets in Italy, UK, Jamaica and Egypt - Enters binding sale and purchase agreement with Quattro Energy Ltd to sell its UK Central North Sea Licences, P2480 and P2519, for a GBP3.2 million headline consideration. Says the deal includes an initial cash payment of GBP2 million upon completion. Expects an additional uplift amount of GBP1.2 million once the field development plan for block 15/18e is approved.
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Open Orphan PLC - London-based pharmaceutical services company - Notes positive result in its RSV Human Challenge Study conducted by its subsidiary hVIVO. Says the Phase 2 double-blinded, placebo controlled trial was testing Barvarian Nordic AS's respiratory syncytial virus vaccine candidate, MVA-BN RSV. Adds that the study of 51 healthy adult volunteers indicated a "significant reduction in viral load in vaccinated subjects" when compared to those given a placebo. Respiratory syncytial virus affects the respiratory tract of children and at-risk older adults, the company says. "With the global infectious disease market expected to reach a value of USD250 billion by 2025, we are already seeing a huge increase in interest across the entire pharmaceutical and biotech space in these previously underserved infectious disease areas. We look forward to offering our industry leading services to help novel therapeutics and vaccines progress through clinical development," adds Executive Chair Cathal Friel.
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By Scarlett Butler; scarlettbutler@alliancenews.com
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