(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
----------
First Class Metals PLC - Lancashire, England-based metals exploration company - Reports preliminary assay results from the West Pickle massive sulphide discovery. Assays from first hole are of "exceptionally high grade" at 4.8% nickel, 3.7% copper over 1.8 metres from massive nickel-copper sulphides. Out of twelve holes drilled, assays remain outstanding for eleven holes. The West Pickle area is the on Schreiber-Hemlo & Sunbeam project land in Canada. Awaits further assays results.
----------
Kinovo PLC - London-based property services company focused on safety and regulatory compliance, land regeneration and energy efficiency - Completes refinancing of its GBP1.5 million term loan with its partner HSBC UK Bank PLC, together with the annual renewal of its current GBP2.5 million overdraft facility. At September 30, net debt position reduces to GBP100,000 from GBP1.7 million at the same time a year prior, with a cash balance of GBP1.7 million.
----------
Somero Enterprises Inc - Fort Myers, Florida-based laser-guided machinery concrete levelling specialist - Confirms no material damage to its Fort Myers facility or disruption to business due to Hurricane Ian.
----------
Ecora Resources PLC - London-based natural resources royalty company - Completes name change from Anglo Pacific Group PLC. Says name change reflects " successful transformation from a predominantly coal royalty business to one that by 2026 is expected to generate over 90% of its revenue contribution from commodities required to support a sustainable future."
----------
Spectral MD Holdings Ltd - London and Dallas, Texas-based predictive analytics firm for wound care - Announces results from its burn image assessment study. Objective of study was to obtain data in assessment of burn depth. Results show that in reviewing pictures of burn wounds that were so severe they would not have healed, emergency department practitioners selected that no surgery was needed and advised treatment with local wound care in 82% of patients. For healing wounds, ED practitioners selected local wound care in only 31% of the images. Says this is "well below" the current performance of Spectral MD's DeepView Wound Imaging System.
----------
BiON PLC - Kuala Lumpur-based renewable energy services - Gives notice it is changing its accounting date to April 30 from December 30 to reflect it becoming a cash shell following its disposal of BiON Ventures Sdn Bhd, which was the firm's main operational subsidiary. Intends to publish its annual report "within the coming weeks" which would enable its shares to resume to trading.
----------
Molecular Energies PLC - Leeds, England-based oil & gas company focused on Latin America - Confirms name change from President Energy PLC.
----------
Angus Energy PLC - oil and gas development company focused on UK assets - Says the Saltfeetby Field is currently achieving flow rates of between 40 and 50 barrels per day. Adds it expects that, by addressing the crest of the structure at the operation, it will add a further 100 barrels per day to production from the fields from the first quarter of 2023. Says planning permission for this has been obtained with preliminary permit approval received. In addition, says the loan facility and contingent payments to Forum Energy are expected to be satisfied in full by third quarter of 2022.
----------
Wildcat Petroleum PLC - targeting investment opportunities in businesses and assets within the upstream sector of the petroleum industry, including the use of blockchain within the sector - Says the last quarter has been "exciting" and "busy". Says it is busy scouting opportunities and building relationships in prospective target markets. Notes talks with the oil minister of Sudan, in particular. Says by working with the government of Sudan, Wildcat has an opportunity to become a partner in the development of the oil industry there. Says it is "getting closer" to executing a "substantial" deal in "not-too-distant" future.
----------
Dukemount Capital PLC - investor in the sustainable and flexible energy markets - Notes that HSKB Ltd, in which it holds a 50% interest, completes the sales of two special purpose companies to Mast Energy Developments PLC for GBP350,000. Each company has a 11,000 volt gas peaking facility, with full planning permission and grid access. Proceeds of sale are used to repay a portion of sums owing to lenders.
----------
Rotork PLC - Bath, England-based industrial equipment manufacturer - Notes "significant" minority vote against the re-election of Ann Christin Andersen as non-executive director at its annual general meeting. Total votes received in favour of the re-election was 80%. Says it is engaging with significant shareholders who voted against Andersen's re-election to "better understand their voting decision and concerns around a perceived 'over-boarding'".
----------
Braveheart Investment Group PLC - Barnsley, South Yorkshire-based investor in small- and medium-sized businesses - Buys a further 13.7 million shares in Aukett Swanke Group PLC at an average price of 2.416 pence per share for a total of GBP331,734. Braveheart now owns 19% of ASG. ASG is a professional services firm that mainly provides architectural and interior design services.
----------
Zenith Energy Ltd - Calgary, Canada-based oil & gas company - During September, produces a total of 955.5-megawatt hours at an average price of EUR419 per megawatt hour. This results in net revenue of EUR400,000 for the month. Net production costs are fixed at EUR35,000 per month, it adds.
----------
Bidstack Group PLC - London-based in-game advertising platform - Intends to launch equity fundraise consisting of a conditional placing, a subscription, and a separate conditional retail offer of shares at a price of 2.85 pence per share. Targeting GBP10 million in proceeds from placing and subscription. Shares are being offered through an accelerated bookbuild process. Stifel Nicolaus Europe Ltd is sole bookrunner and broker. Proceeds will used to fund the development of a platform to allow commercial right owners to have control over the content that appears in their licensed intellectual property. Fundraise conditional on approval at general meeting on October 25. Separately, firm announces retail offer via REX. Price of REX retail offer shares is 2.85p. Offer also conditional on approval at general meeting. Expected to close on Thursday.
----------
Tern PLC - investor focused on the internet of things - Announces retail offer via PrimaryBid. Issue price for retail shares is 7.5 pence per share, representing a 14% discount to the closing price on Tuesday. Separately, firm raises GBP1.3 million, before expenses, through the subscription of 17.3 million shares at the issue price of 7.5p. Says proceeds will be used to provide the firm with a "stronger negotiating position" and funding for follow-on investment opportunities.
----------
By Heather Rydings; heatherrydings@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
