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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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ReNeuron Group PLC - Bridgend, Wales-based cell-based therapeutics - Intends to raise gross proceeds up to GBP13.9 million via placing with institutional and other investors alongside up to GBP1.1 million direct subscription. Both will be priced at 70 pence per share with proceeds allowing ReNeuron "to deliver extended clinical data from its ongoing retinitis pigmentosa phase 2a study and to deliver proof-of-concept pre-clinical data from ongoing exosome collaborations which could enable potential out-licensing deals, as detailed below more fully." Also announces up to GBP2. million open offer.
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Lekoil Ltd - African oil exploration and production firm with interests in Nigeria and offshore Namibia - Announces that 15.4% stakeholder Lynchwood Nominees Ltd has requisitioned an extraordinary general meeting where it seeks to oust Chair Mark Simmonds and appoint Michael Ajukwu, Thomas Richardson and George Maxwell to the Lekoil board. Requisition further proposes special resolutions relating to restriction to bee place on the affairs of Lekoil Ltd (Nigeria), Lekoil's principal subsidiary. Leoil in "advanced talks" with new nominated advisor, who will review resolutions proposed. This is expected to extend the due diligence process needed before new nomad is appointed, increasing the risk of share delisting.
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Versarien PLC - Cheltenham-based advanced materials engineer - Announces interim results reporting extension and will now release its interim results for the six months ended September 30 by January 31 at the latest. This is in line with Covid-19 guidance allowing for a 1-month extension for reporting interim financial results.
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Martin Currie Global Portfolio Trust PLC - investment company focused on long-term returns in excess of the total return from the MSCI All Cos World index - Enters into unsecured three-year GBP30 million term loan facility agreement with Royal Bank of Scotland International Ltd, intended to be fully drawn. Loan will represent approximately 10% of company's net asset value once drawn. Appoints Martin Currie Fund Management Ltd as alternative investment fund manager, having "decided that it is now in the best interests of the company that it has a modest level of structural gearing consistent with the gearing policy".
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IQ-AI Ltd - medical software company with headquarters in Jersey - Notes that its Liver Surface Nodularity software application is now CE Mark approved. LSN algorithms process CT images of livers to assess nodules on the surface, conducting a virtual biopsy. This confirms that the LSN meets essential requirements of the European Medical Devices Directive. Follows US Food & Drug Administration's granting of 510(k) market clearance for LSN software earlier in November. IQ-AI says: "These recent regulatory milestones permit IQ-AI's subsidiary, Imaging Biometrics, LLC, the manufacturer of record for LSN, to market and sell the software to the world's two most prominent healthcare markets."
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Braemar Shipping Services PLC - London-based provider of technical expertise and professional marine and energy services - Says AqualisBraemar ASA will acquire LOC Group. Baemar Shipping holds an approximately 27% stake in AqualisBraemar, which is an associate company. Combination is intended to create "leading global independent offshore energy and marine consultancy". "Braemar believes this expansion will help generate further momentum for AQB, building on the strong progress stated in its Q3-2020 results, and has therefore shown its support and given the AQB board undertakings to vote in favour of the transaction." Braemar Shipping to hold around 21% stake in enlarged group.
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By Anna Farley; annafarley@alliancenews.com
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