(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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SRT Marine Systems PLC - provider of maritime surveillance, monitoring and management systems - Reports revenue of GBP4.7 million for six months to September 30, up 11% on last year and pretax loss of GBP3.1 million, widened from last year's GBP2.7 million loss. "Whilst our transceivers business continues to grow, we expect our systems business to catch up from Covid delays during the second half with the commencement of new projects which will result in a considerably improved year end outcome along with greater clarity and surety on our longer-term financial outlook," says Chair Kevin Finn.
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Katoro Gold PLC - gold and nickel exploration and development company - Gains extension request from Target Mine Consulting for initial public offering documentation. Katoro's board of directors have agreed to grant TMC a further extension until 1700 on Friday to comply.
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Life Science REIT PLC - life science property investor - Says it has completed the acquisition of office and laboratory building Rolling Stock Yard near London's St Pancras station from a joint venture of Newmark Properties, Argo Real Estate and Investec Bank. The purchase price of GBP77.0 million, excluding acquisition costs, was made entirely in cash and reflects an attractive net initial yield of 4.4%.
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John Lewis Of Hungerford PLC - Wantage, Oxfordshire-based kitchen manufacturer and retailer - Signs 10-year lease on warehouse facility, with additional office space, on Grove Business Park close to the company's manufacturing facilities in Wantage. Says annual cost around GBP65,000, with first six months rent free. "The new warehouse comprises approximately 6,500 square foot and has been obtained to facilitate the current growth in demand for the company's products," it says.
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FW Thorpe PLC - Worcestershire-based lighting systems firm - Purchases 50% of the share capital of Netherlands-based electrical power connection and distribution systems company Ratio Electric BV. FW Thorpe has paid EUR6.8 million, around GBP5.8 million, funded from existing cash reserves. The acquisition is expected to enhance earnings per share in the financial year ending June 30, 2023, providing potential growth opportunities and complementing existing technologies, it notes.
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Shires Income PLC - investment trust - Reports net asset value per share of 287.01 pence at September 30, up from 262.41p at March 31. Says over the first half of the financial year the net asset value increased by 12.3% on a total return basis, outperforming the total return from the FTSE All-Share Index by 4.3%.
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ULS Technology PLC - Thame, Oxfordshire-based online platforms for conveyancing and financial intermediary markets, including DigitalMove - For six months to September 30, posts revenue of GBP10.2 million, up 48% from GBP6.9 million last year. Pretax loss widens to GBP1.5 million from GBP702,000 loss. Looking ahead, ULS is confident in opportunity to develop new revenue streams. "While we are mindful of ongoing developments in the UK's response to the Covid pandemic, the return to more normal business practices and face to face interaction allows our sales teams a greater opportunity to engage and influence our partners. The board views the coming year with confidence and optimism," says Chief Executive Officer Jesper With-Fogstrup.
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Triple Point Energy Efficiency Infrastructure Co PLC - investment firm - Reports NAV per share 94.50p as at September 30, down from 97.49p at March 31. "The government focus on achieving its net-zero targets, particularly in light of the 26th UN Climate Change Conference of the Parties, provides an exciting outlook for the company and this is supported by our strong pipeline of investment opportunities," says Chair John Roberts.
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Home REIT PLC - homeless accommodation investor - Says that it has finalised an additional GBP130 million interest-only debt facility with Scottish Widows. The new facility has been secured on a 15-year term with a low fixed all-in rate of 2.53% per annum for the duration of the facility.
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Fintel PLC - Huddersfield, England-based - technology and support for retail financial services sector - Inks distribution partnership spanning Aviva PLC and Aviva Investors in a multi-year agreement for its new distribution as a service solution. The solution is a subscription-based service that includes research, data, product design and targeted distribution, enabling product providers to develop and distribute highly targeted propositions. Aviva Investors will launch a new sustainable retirement solution, answering the regulatory call for downside protection in retirement.
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Inland Homes PLC - Beaconsfield, England-based housebuilder - Secures refinancing, through its joint venture Cheshunt Lakeside Developments Ltd, of facilities at Cheshunt Lakeside, Cheshunt where consent was secured in 2019 for 1,725 homes, together with significant employment and community facilities. Has procured a mezzanine loan facility of GBP14.3 million with Homes England on considerably more favourable terms than the previous facility, together with a GBP7.4 million infrastructure facility and an additional interest and fees roll-up facility of GBP2.9 million. The facility is available to March 21, 2024, with repayment due by December 31, 2026.
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Fusion Antibodies PLC - Belfast-based therapeutic drug and diagnostic applications research organisation - Updates its research & development catalogue following on from the emergence of the new SARS-CoV-2 variant known as Omicron. The data on Omicron was added to the Global Initiative on Sharing All Influenza Data archive on November 22. GISAID is an existing platform for sharing influenza virus sequences and primary information. Fusion is developing receptor-binding domain antigens as part of the Northern Ireland Coronavirus Antibody Development Alliance. It has decided to include Omicron RBD, alongside the alpha, beta, gamma and delta+ RBD variants, in its development programme with the aim of producing virus-neutralising antibodies.
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Aminex PLC - Tanzania focused gas project developer - Says that the first phase of the 3D seismic project has commenced on the Ruvuma PSA in Tanzania. ARA Petroleum Tanzania Ltd has confirmed that the seismic contractor commenced preparatory works as planned on November 15 and has now established the GPS control points and survey equipment is being calibrated for ground staking. Says contractor is making good progress with the mobilisation of the necessary equipment with five vibroseis trucks now ready to be offloaded at the port of Dar es Salaam and the importation of the receivers is ongoing with the expectation that this will be completed next week.
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BMO UK High Income Trust PLC - invests for dividend income plus prospects for capital growth - Says net asset value total return per share for the six months to September 30 was 4.4%, while the equivalent total return for the benchmark FTSE All-Share Index was 8.0%.
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Helios Underwriting PLC - London-based investment vehicle that acquires and consolidates underwriting capacity at Lloyd's - Acquires three new LLVs for GBP4.0 million, generating syndicate capacity of GBP4.4 million. Chanterelle Underwriting Limited, Nomina No 110 LLP and Nomina No 472 LLP were acquired for considerations of GBP3.23 million, GBP560,000 and GBP190,0000, respectively.
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Mercia Asset Management PLC - Henley-in-Arden, England-based investment company - Notes that its direct portfolio company Soccer Manager Ltd has signed several high-profile licences, giving it access to content for its mobile games. This include Italian football club Inter Milan, Premier League team Wolverhampton Wanderers and unnamed teams from the Scottish Premiership.
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Mobeus Income & Growth 2 VCT PLC - venture capital trust - Net asset value per share as at September 30 was 105.9p, up from 79.3p at the same time last year. Net asset value total return per share was 11%. Declares interim dividend of 12.0p per share.
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Agronomics Ltd - Isle of Man-based investor in cellular agriculture - Raises GBP27.8 million via placing and subscription to finance further investment in its portfolio and for new opportunities. Places 92.3 million shares and says that a further 18.4 million were subscribed at a price of 23.0p a share, a 6.1% discount to its closing share price on Tuesday.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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