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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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Custodian REIT PLC - Leicester, England-based property investment company - Sells a 22,720 square feet car showroom in Stafford for GBP4.9 million, 31% ahead of the June 30 valuation, representing a net initial yield of 5.8%. The property is let to VW Group UK Ltd and was purchased in July 2018 for GBP4.6 million.
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Samarkand Group PLC - London-based e-commerce company - Reports the acquisition of Napiers the Herbalists, a retailer of herbal remedies, food supplements, skincare and wellness products. Samarkand has had a commercial relationship with Napiers for more than three years. The group intends to expand Napiers products and services in its home market of the UK and internationally in China and beyond. The initial consideration for the purchase is GBP1.7 million in cash on a net debt net cash basis. Deferred consideration of GBP100,000 in cash will be payable between six and nine months after the completion date, and contingent consideration of up to USD700,000 can be payable upon some events occurring post acquisition.
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VH Global Sustainable Energy Opportunities PLC - investment trust - Reports the completion of acquisition of the first GBP30 million tranche out of the total GBP78 million commitment to fund innovative net zero flexible power generation projects in the UK. The initial tranche will fund the construction of one project in Nottinghamshire, UK, consisting of a 10 megawatts high efficiency combined heat and power with carbon capture and re-use plant to provide a clean, net-zero, flexible and dependable electricity solution for the UK.
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React Group PLC - Swadlincote, England-based cleaning company - Secures a new contract to provide specialist deep cleaning services on a regular basis to an incremental part of one of its existing customers operating in the social housing sector. The contract, commencing Tuesday, has been awarded on an initial twelve-month term. The contract is worth between GBP200,000 and GBP250,000 per year and involves both reactive and planned maintenance void clearances throughout the southwestern region of England, servicing a potential housing stock of 32,000 homes.
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MTI Wireless Edge Ltd - Israel-based antennas and accessories manufacturer - Receives blanket orders for 5G backhaul antenna from two customers. The combined orders are worth USD850,000 and are to be supplied in 2022.
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ValiRx PLC - Nuneaton, England-based drug development company - Agrees with TheoremRx Inc, a drug development company, to sub-license ValiRx's legacy asset VAL201 for development in the treatment of cancer. Completion of the licence agreement is subject to the successful fundraise by TheoremRx. Under this proposed licence agreement, TheoremRx will obtain a worldwide licence to ValiRx's VAL201 intellectual property for a novel peptide targeting SRC kinase targeting oncology indications. ValiRx will retain the rights to develop the VAL201 peptide for non-oncology indications, including VAL301 for endometriosis. The potential value of the deal would be in excess of USD61 million, plus royalties for the first cancer indication alone.
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Round Hill Music Royalty Fund Ltd - Guernsey-based investment company - Enters into a long-term agreement to administer 100% of the neighbouring rights income, generated from the master recordings of three members of the British rock group Supertramp.
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MGC Pharmaceuticals Ltd - Perth, Australia-based bio-pharmaceutical company - Reports the completion of the construction and implementation phase of the CimetrA production facility in Malta. MGC says it received a EUR3.1 million cash grant from the Maltese government via Malta Enterprise, in order to fund the majority of the costs of construction, and equipment fitout of the facility. The fully compliant EU GMP production facility will have the capacity to produce over 20,000 units in liquid dose form per day, which is double that originally planned.
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ProPhotonix Ltd - New Hampshire, US-based manufacturer of LED illumination systems - Reports the release of its Cobra HyperSpec SWIR line light. This tunable short wavelength infrared line light allows for high-resolution imaging, the company explains. It is fully customisable and can be configured to a range of applications including textile recycling and quality control in the food industry.
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Cerillion PLC - London-based billing, charging and customer management systems provider - Reports the release of the latest version of its Enterprise BSS/OSS suite, Cerillion 21.2. This latest release provides communications services providers with a range of updated features, which support greater business agility, the company says.
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Zoo Digital Group PLC - Sheffield, England-based provider of cloud software - Reports the first phase in its global growth strategy with the launch of ZOO Turkey. The company completes a strategic investment in Istanbul-based media localisation company ARES Media to grow ZOO's services for Turkish content. ZOO Turkey will provide major content creators and global streaming services with an enhanced offering in the Middle East & North Africa region and enable ZOO to secure new talent across its key markets.
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Mercia Asset Management PLC - Henley-in-Arden, England-based investment company - Says its third-party managed fund portfolio company Pimberly Ltd completes a GBP4.3 million funding round to expand into the US market and accelerate its growth in the UK. Mercia has invested GBP1.4 million from its own balance sheet, alongside a further GBP2.9 million investment by the Mercia managed Northern VCTs. Following this investment, Mercia holds a 5.6% fully diluted direct stake in Pimberly, with the Northern VCTs holding a further 12% fully diluted equity stake.
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Blue Star Capital PLC - Crowley, England-based investment company - Notes the announcement by SatoshiPay, one of its investee companies, that Pendulum, its smart contract network, has raised USD5 million in an oversubscribed private sale round of its upcoming PEN token. The funds raised will be used to continue the development of Pendulum.
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Tungsten Corp PLC - London-based digital financial management products provider - Says it has been informed by NTT Ltd that it will terminate the contract. Tungsten will continue to deliver the integrated supplier services that were previously in place. This decision was not due to performance, the company explains, but based on a change in NTT's procurement strategy.
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Bradda Head Lithium Ltd - Isle of Man-based exploration and mining services provider - Receives initial promising results of the GPRplus geophysical programme at San Domingo asset in Arizona. These results demonstrate the potential extension at depth of pegmatites in the central and the southwestern sections of the resource. The northern block of the resource has not yet been surveyed. Bradda Head is now planning an extensive geological mapping project to build upon its current model, and a diamond drill programme for 2022, to investigate the initial positive results.
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Oriole Resources PLC - exploration company operating in west Africa - Reports progress on exploration at its 90%-owned central licence package in central Cameroon, with five priority 1 gold zones identified in the east of the package. Oriole says regional-scale soil grids have been designed to cover these zones to test the footprint of the anomalism. Three of the grids are centred over the northeast-trending Tchollire-Banyo shear zone, which the company believes is a key control on the gold anomalies identified to date. Sampling of an initial pilot area is expected to be completed before the end of the year, with gold results anticipated in early first quarter. Mapping and sampling over the remaining three licences in the west of the package will resume later in the final quarter of 2021.
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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