Beowulf Mining PLC Share News (BEM)

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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Roadside Real Estate PLC - Abingdon, England-based investor in roadside property and in consumer and life sciences companies, formerly called Barkby Group PLC - Sells 952 shares in its subsidiary, Cambridge Sleep Sciences for GBP6.0 million to CGV Ventures 1 Ltd. Explains this implies significant upside to the company's retained shareholding in CSS. Roadside says the consideration will be paid in cash by not later than April 25. On completion, Roadside's stake in CSS will reduce from 75% to 65%. Roadside originally invested GBP2.7 million in CSS in March 2020. Proceeds will reduce debt and fund working capital. Continues to explore the potential for a trade sale and de-merger of CSS. CGV Ventures 1 Ltd. is a US-based venture capital fund which specialises in taking minority positions in innovative healthcare companies.

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Mobile Streams PLC - London-based mobile content provider - Completes placing to raise GBP300,539. Notes a broker option is expected to raise a further GBP100,000, and a subscription an extra GBP30,000. Proceeds will be used to provide additional working capital to expand operations in Mexico as outlined in December.

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Beowulf Mining PLC - minerals and metals exploration company with operations in the Nordics including the Kallak iron ore asset in northern Sweden - Confirms management have subscribed for GBP218,000 of shares in relation to capital raise. Notes the subscription period for the fundraise runs until March 28.

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Zenith Energy Ltd - Oil and gas company focused on assets in Africa and Italy - Issues update regarding the international arbitration proceedings it has initiated against the Republic of Tunisia and ETAP, the national oil company of Tunisia. Says the tribunal for the arbitration is expected to convene in April with a decision expected by the close of 2024. Notes this claim - against ETAP - is for around USD7.5 million. Further, states a decision on the USD85.8 million claim against the Republic of Tunisia is expected during the first quarter of 2025. A further claim against Tunisia for at least USD48 million is expected to conclude in 2027. Chief Executive Andrea Cattaneo says: "Zenith is fully confident in the merits of the arbitrations. We shall look to initiate a process to determine and grant an extraordinary dividend to shareholders following a potential successful outcome."

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PYX Resources Ltd - minerals exploration and development company focused on projects in Indonesia - Announces its first export of ilmenite following receipt of an export licence in March. Notes a total of 1,040 tonnes of ilmenite at a grade of 45% titanium dioxide has been exported to a customer in China. Further exports are anticipated in the near term.

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Symphony International Holdings Ltd - Asia-focused investment company focusing on healthcare, hospitality, lifestyle, logistics and education sectors - Net asset value at December 31 was USD0.74 per share, down 23% from USD0.97 the year prior. Points out two thirds of the decrease was due to a drop in valuation of Indo Trans Logistics Corp, Vietnam's largest independent integrated logistics company. Explains global markets faced significant challenges in 2023, primarily driven by persistent inflation. But, notes signs of inflation easing and rising expectations of interest rate cuts since the end of 2023 have facilitated a reversal in financial markets that continued to gain momentum in early 2024.

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Oxford Biomedica PLC - Oxfordshire, England-based gene and cell-therapy company - Year-to-date, reports consistently strong demand for its cell and gene therapy CDMO services across all key viral vector types, with its portfolio of client programmes transitioning towards later stage work. As a result, says company is now working on three late-stage programmes. Oxford Biomedica says it recently signed a contract with a new undisclosed US-based biotechnology company for the manufacture of lentiviral vectors. Notes manufacturing will take place at the company's Oxford-based manufacturing facility. Further, signs two new programmes with existing clinical-stage clients for projects including process development and GMP manufacturing. In addition, inks new agreement with a US-based client specialising in cardiac gene therapy for the tech transfer, optimisation and manufacture of an adeno-associated virus-based process.

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Poolbeg Pharma PLC - London-based clinical-stage biopharmaceutical company targeting diseases with a high unmet medical need - Receives notice of allowance from the US Patent Office in relation to its Immunomodulator II patent application. A notice of allowance is a precursor to the expected formal grant of a patent in due course, Poolbeg explains. The claims which the US Patent Office have deemed acceptable to grant cover a class of drugs, including POLB 001, for treating hypercytokinaemia and for preventing hypercytokinaemia in a patient after an immune response has been triggered. Chief Executive Jeremy Skillington says the notice of allowance is "significant for Poolbeg, further strengthening our robust intellectual property for the company's exciting POLB 001 therapy and enhancing its value for potential partners."

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By Jeremy Cutler, Alliance News reporter

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