(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Love Hemp Group PLC - cannabidiol products maker - Raises GBP2.4 million via subscription of 67.1 million shares at 3.5p each. Says proceeds of the raise will be used for general working capital as well as to support the company's marketing efforts.
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Odyssean Investment Trust PLC - investment trust - Reports net asset value per share at March 31 of 139.3p, up from 90.8p a year prior. Pretax profit in the year to March 31 comes in at GBP42.7 million, swinging from GBP4.9 million loss. Does not recommend dividend, and does not expect to do so in the near future. Says it will pay a dividend only if the need arises in order to retain investment trust status.
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BMO Capital & Income Investment Trust PLC - investment trust with portfolio consisting mainly of FTSE All-Share companies - Reports NAV per share at March 31, the end of the half-year, of 306.62p, rising from 233.78 a year prior. Declares interim dividend of 5.25p per share, up marginally from a year before. "The company has continued to deliver unbroken growth in annual dividends, retaining its AIC Dividend Hero status. Many investors have suffered reductions in income as dividends have been cut elsewhere and interest rates are so low, but we have always put great emphasis on increasing our dividend each year," says company.
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Predator Oil & Gas Holdings PLC - Jersey-based oil & gas company with operations in Trinidad, Morocco and Ireland - Reports widened pretax loss for 2020 of GBP1.7 million from GBP1.3 million a year prior. Administrative expenses rise to GBP1.5 million from GBP1.2 million. Loss per share narrows to 0.8p from 1.2p. "We have eliminated debt, strengthened our balance sheet and further developed our in-country relationships to execute our business strategies and create materiality by aligning with key stakeholders in the energy sectors. With this solid platform we are well-positioned to move forward in 2021 to increase operational activity beginning with the MOU-1 well in northern Morocco, which potentially could lead to the establishment of a new potential gas basin straddling the Maghreb gas pipeline to Europe," says company.
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AVI Japan Opportunity Trust PLC - Japan-focused investor - Says tender offer by Secom for its subsidiary company Secom Joshinetsu will boos AJOT's NAV by 3.3%, as Secom Joshinetsu accounts for 5.0% of AJOT's NAV. Tender offer is going for JPY6,350, a 66% premium to the undisturbed closing price of JPY3,820.00 on Friday in Japan.
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Mining Minerals & Metals PLC - acquisition vehicle looking for assets in natural resources sector - Reports pretax loss for year to end January of GBP207,612, widening from GBP39,338 a year prior. Administrative expenses up to GBP207,637 from GBP39,338. Does not generate revenue. "The current climate for natural resource companies seeking to raise capital is significantly improving with commodity prices in general performing very well in the second half of 2020 and into 2021. Accordingly, I believe that the company represents an extremely attractive proposition to prospective acquisition counterparties considering listing on the London Stock Exchange and I remain confident that we will be able to execute an acquisition that creates value for our shareholders," says Chair Roy Pitchford.
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Rotala PLC - bus operations at Heathrow airport, in West Midlands and North West - Says it continues to operate stably under the umbrella provided by the Coronavirus Bus Services Support Grant regime. "This regime dictates a no profit/no loss outcome at the pre-tax profit line, but does ensure that the company remains cash positive. As the government has eased the restrictions istituted to combat the coronavirus pandemic, passenger volumes have steadily improved. Currently these stand at about 65% of pre-pandemic levels," says company.
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Intuitive Investments Group PLC - closed-end investment company focused on life sciences sector - Announces investment of GBP250,000 to acquire 625,000 ordinary shares of Trellus Health PLC at 40 pence per share. Says investment is part of Trellus Health's flotation and associated fundraising. Trellus is a New York-based digital health firm and debuted on AIM on Friday.
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Diurnal Group PLC - Cardiff, Wales-based pharmaceutical company focused on hormonal diseases - Receives European Commission approval for drug Efmodym used to treat a rare condition called congenital adrenal hyperplasia. "To facilitate timely commercial availability, Diurnal has already commenced market access activities in its target European territories, with the first commercial launch anticipated in the [third quarter of this year]," says company.
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Curzon Energy PLC - investor in US based natural gas projects - Notes exclusivity extension with Poseidon Enhanced Technologies through to July 1. Says they continue to work towards the execution and delivery of a definitive purchase agreement, contemplating a reverse takeover of Curzon by PET.
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Gamma Communications PLC - London-based cloud communication services provider - Says it has paid former owners of Exactive Holdings Ltd, which was acquired by Gamma, a further GBP1.5 million. Says it has acquired an additional 8% of the shares of HFO Holding GmbH, now owning a 88% stake, with options to acquire the remaining 12%. HFO is a provider of SIP Trunks and unified communications in Germany. Exactive is a unified communications specialist and is one of a small number of Microsoft Teams voice partners operating in the UK. "Both payments are at the upper end of the possible range which reflects the fact that the underlying performance of both businesses has been strong since acquisition," says company.
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Globalworth Real Estate Investments Ltd - real estate investor - Says offer by CPI Property Group SA and Aroundtown SA at EUR7.00 per Globaworth share "significantly undervalues Globalworth, its assets and its prospects". Globalworth shares closed down at EUR7.16 each in London on Friday.
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Armadale Capital PLC - investment company focused on natural resource projects in Africa - Reports narrowed loss in 2020 of GBP195,925 from GBP272,548. Administrative expenses fall to GBP377,912 from GBP468,948. Raises GBP850,000 via a private subscription with "existing high-net worth shareholders in the company". Says funds will strengthen the company's balance sheet as it seeks to progress development finance workstreams ahead of construction at Mahenge graphite project in Tanzania.
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EQTEC PLC - Cork, Ireland-based gasification technology company for sustainable waste-to-energy project - Raises GBP16 million via oversubscribed placing of 66.6 million shares at 1.5p each.
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Oxford BioMedica PLC - Oxford, England-based gene and cell therapy - Sees 18% of votes cast at AGM against amending rules of 2015 long-term incentive plan, as well as the amending rules of the 2015 executive share option scheme.
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Ashoka India Equity Investment Trust PLC - India-focused investment trust - Proposes further issuance of shares via an initial placing, offer for subscription and intermediaries offer. "The board is very satisfied with the performance of the bompany since its IPO in 2018, for which huge credit is due to the White Oak team. India is currently faced with the challenge of the second wave of the Covid-19 virus, and the thoughts of my fellow directors and I are with the people of India. India remains an attractive, long-term investment, and the board continues to believe that there is a compelling investment opportunity, which plays strongly to our manager's bottom-up approach to stock selection," sat Chair Andrew Watkins.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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