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TRADING UPDATES: Supreme annual revenue jumps; Pelatro in Asia deal

Tue, 4th May 2021 19:13

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



Supreme PLC - maker of fast-moving consumer goods - Expects 30% revenue hike in year ended March 31 to GBP121 million from GBP92.3 million, in line with management expectations. Adjusted earnings before interest, tax, depreciation and amortisation tipped to rise 20% to GBP19 million from GBP16.2 million. "I am delighted to provide our first trading update since our AIM admission in February 2021. We continue to build on our strong track record of growth, with our strategy to focus on high growth categories such as vaping and sports nutrition really coming to fruition," Chief Executive Officer Sandy Chadha comments.



Zoetic International PLC - London-based cannabidiol products company - Raises GBP6 million through subscription of 10.0 million shares at 60 pence each. Proceeds to cancel financing arrangement with LDA Capital and continue rollout of Chill products in US.



Pelatro PLC - London-based marketing software specialist - Says large Asian telecommunications firm, with 230 million subscribers, enters into framework pact with Pelatro. "Under this group purchasing arrangement, the operating companies in the various jurisdictions can be serviced by Pelatro under one agreement and be confident of receiving the same high quality of offering and support across the group, as well as new products and services at pre-agreed pricing," Pelatro says. Adds new pact ensures "even closer working relationship" with firm.



Knights Group Holdings PLC - legal and professional services firm - Agrees to buy Sheffield-based commercial law firm Keebles LLP for up to GBP11.5 million. To pay GBP8.4 million up front, GBP4.9 million in cash and GBP3.5 million worth of shares. Deferred consideration of GBP3.1 to be paid in instalments following completion of deal.



Fusion Antibodies PLC - contract research organisation based in Belfast - Says in year ended March 31, revenue grew 7% to GBP4.2 million from GBP3.9 million. "We're pleased to have achieved revenue growth marginally ahead of market expectations in what has been a challenging year globally due to the pandemic," Chief Executive Officer Richard Jones says.



Argo Blockchain PLC - London-based cryptocurrency miner - Mines 163 bitcoin or bitcoin equivalent in April, down from 165 in March. Generates GBP6.7 million in revenue, up from GBP6.6 million in March.



VR Education Holdings PLC - AIM-listed virtual reality technology company - Says Engage platform reaches 100 commercial customers. Says April Engage revenue hit record of EUR200,000. Year to date revenue from Engage is EUR600,000, equal to whole of 2020.



Live Co Group PLC - Surrey-based live events and entertainment firm - Subscribes for minority 16% stake in Start Art Global Ltd, with option to up holding to 20%. Start Art is an online art and digital art sales and news platform. Live Co says GBP1.0 million deal to be satisfied in cash. Also plans placing of 5.0p per share to raise GBP1.0 million for the deal, as well as GBP500,000 for working capital for Live Co's Brick and Sports units.



Catenae Innovation PLC - AIM-listed digital media & technology provider - Buys software and application development consultancy Hyperneph Software Ltd for GBP320,000, GBP270,000 in cash and GBP50,000 in new shares.



Location Sciences Group PLC - London-based location verification company - Raises GBP3.9 million in placing, subscription and broker option. Cash will "continue development and commercialisation of the company's products".



One Media IP Group PLC - digital media content provider - Acquires writer's share to royalties of over 250 tracks by American band Kid Creole & the Coconuts



7digital Group PLC - digital music company - Signs two new contracts and three renewals with existing customers. Signs two-year pact with new client in US home fitness sector. "The client will utilise 7digital's catalogue and API playlisting tool, enabling instructors or users to access a fully rights-cleared catalogue to download commercially compliant music that can be seamlessly synchronised with video programmes," 7digital says. In addition, pens 36-month deal with Finnish firm Viihdevayla Oy, a provider of background music and playlisting curation for restaurants. Renews deal with "fast-growing B2B music streaming service" and extends pacts with Swiss retailer Ex Libris and media company Global Radio.



Round Hill Music Royalty Fund Ltd - private equity firm exclusively dedicated to investments in revenue generating music copyright assets - Buys minority stake in RH Carlin Holdings LLC. Acquires 29% stake previously owned by Round Hill Fund One. Also strikes revolving credit facility deal with Truist Securities Inc. RCF allows company to borrow up to 25% of economic net asset value per share, calculated at point of draw down.



Tern PLC - internet of things-focused investor - Says "highly focused" on securing shareholder value from portfolio firms. "We are working to position Tern as the go to investment company for exciting IoT start-ups that we believe bring otherwise difficult to obtain large market opportunities to our shareholders," Tern says.



Conygar Investment Co PLC - London-based property investor and developer - Submits detail planning application for next phase of work at The Island Quarter development in Nottingham. This part of application includes 702-bed student accommodation. "We are delighted to submit this application for the next phase of development. Nottingham is home to two top class Universities and this scheme will be an excellent addition to the mixed-use development we are creating at The Island Quarter," Chief Executive Robert Ware says.



Tekcapital PLC - UK intellectual property investment company - Says portfolio firm Guident Ltd, an autonomous vehicle company, successfully demonstrates remote-control technology. "The remote monitoring and control center will be able to monitor multiple vehicles from a remote, secure monitoring centre, akin to air traffic control," Tekcapital says.



Intuitive Investments Group PLC - closed-end investment company focused on life sciences sector - Invests GBP500,000 to acquire 909 shares in The Electrospinning Co Ltd, taking a 4.4% stake. Forms part of GBP4.5 million funding round by TECF.



CIP Merchant Capital Ltd - AIM-listed closed-ended investment company incorporated in Guernsey - Invests GBP625,553 in car dealer Vetu Motors PLC. Buys 1.5 million shares, taking 0.4% stake. "The CIP board notes the rapid development of enhanced omni-channel functionality in the selling of vehicles to private customers implemented by Vertu, which is at the forefront of the sector. The CIP board believes that this transformation of its business model puts Vertu in a strong position to benefit from the UK economy's recovery phase," CIP Merchant says.



Braveheart Investment Group PLC - UK-based investment firm - Investee Paraytec Ltd, which is developing a Covid-19 test, reports data from trial. Says 39 positive tests and 13 negative tests from nasal swabs used to determine viral loads in each sample. Braveheart notes Paraytec's q-PCR testing regime has a sensitivity and specificity of 97.4% and 100%, respectively. "This outcome is important because it demonstrates the ability of the Paraytec test to identify people with relatively low viral loads - many of whom would be asymptomatic individuals or those with early stage infection. The results demonstrate the potential performance advantage of the Paraytec test over lateral flow tests, which have only shown high levels of sensitivity in clinical samples with relatively high viral loads," Braveheart says.



Dukemount Capital PLC - London-based property developer - Enters into one-year loan facility for GBP1.0 million, with consortium of lenders arranged by Sanderson Capital Partners Ltd. Says GBP500,000 available immediately, additional GBP500,000 contingent on milestones.



Custodian REIT PLC - Leicester, England-based commercial real estate investor - Says collects 90% of rent in fourth quarter and 91% for year ended March 31, adjusted for deferrals. Says EPRA earnings per share down to 5.6 pence from 7.0p. Quarterly dividend flat quarter-on-quarter at 1.25p per share, but annual dividend down by 32% to 4.5p from 6.65p. Targets payout of at least 5.0p for new year. Adds that NAV per share rises 1.2% quarter-on-quarter to 97.6p.



Mkango Resources Ltd - explorer for rare earth elements in Malawi - Reports results from flotation pilot plant programme completed at ALS Metallurgy, Australia. Results showed flotation process is "robust and straightforward". Can increase recoveries and concentrate grades at Songwe Hill rare earths project in Malawi.



Gem Diamonds Ltd - Letseng diamond mine in Lesotho - Recovers 254 carat white diamond from Letseng.



Jangada Mines PLC - mineral resource miner focused on Brazil - Says results from 2,000 metre drilling programme at Pitombeiras project demonstrate continuity of vanadiferous titanomagnetite mineralisation in "several directions". "As we successfully wrap up the drilling campaign at the Pitombeiras North target, I am pleased to note that the deposit continues to be opened in several directions, providing significant future upside," Executive Chair Brian McMaster says.



Uru Metals Ltd - exploration and development firm - Extends notice period for convertible loan note, though key terms remain unchanged.



Panthera Resources PLC - gold exploration and development company focused on west Africa and India - Says term sheet with Galaxy Gold Mines Pvt Ltd lapsed on April 30, following recent change in mining law in India. "The company's efforts are focused on pursuing its legal rights in India and, working with Fasken in preparation for a potential international arbitration under the Australia-India Bilateral Investment Treaty," Panthera says.



Tirupati Graphite PLC - graphite producer with operations in Madagascar and India - Reports graphene and technology development arm Tirupati Graphene & Mintech Research Centre develops graphene-aluminium composite. Tirupati says composite has "significantly higher conductivity" and strength over aluminium and is comparable to copper. "The company has now engaged with potential end users including a FTSE 100 company for its potential use replacing copper in thermal, power and propulsion systems, which provides significant advantages owing to reduced weight," Tirupati says.



Orosur Mining Inc - South American gold exploration and development company - Receives assays from four holes at Anza project, Colombia. "All holes were drilled to better define the geological controls upon gold and base metal mineralisation that had been identified during previous drilling campaigns, but also to extend or to close off such mineralisation," Orosur says.



Blencowe Resources PLC - natural resources company focused on the development of the Orom-Cross graphite project in Uganda - Says stage two 2,200 metre diamond drilling programme has kicked off in Orom-Cross graphite project, Uganda.



Kodal Minerals PLC - miner developing project in southern Mali and Ivory Coast - Says committee meeting held in Bamako, Mali to review Kodal's feasibility study and proposed mining development for Bougouni, which company is eyeing snapping up a licence for. Receives confirmation that feasibility study and mining development plan ratified and approved by watchdog Direction Nationale de la Geologie et des Mines, subject to some minor alterations to adhere to Mali's new mining code established in 2019. "The company then expects to receive a formal notification from the DNGM requesting payment of the mining licence fee prior to the formal production of the 'exploitation decree' for approval by the prime minister," Kodal adds.



Ncondezi Energy Ltd - coal-fired power project in Mozambique - Announces completion of USD500,000 bridge loan from some directors to finance work on battery storage project in Mozambique.



Trinity Exploration & Production PLC - Trinidad & Tobago-focused oil exploration and production company - Reports sale and purchase pact with Moonsie Oil Co Ltd to acquire PS-4 block lease operatorship sub-licence in onshore Trinidad for up to USD3.5 million. Says asset "offers significant opportunities to add reserves and production on a meaningful scale".



Arc Minerals Ltd - exploration company focussed on Africa - Notes article in Zambian newspaper published on Saturday, related to its licenses in country. "Arc wishes to clarify that all of its licenses are in good standing order," company adds.



Zephyr Energy PLC - oil and gas company focused on the US upstream oil and gas sector - Gets maiden monthly revenue payment from Iversen asset, North Dakota. "The payment of USD140,662 is related to volumes produced in the month of February, during which net production averaged 110 barrels of oil equivalent per day," Zephyr adds. Also announces acquisition of 11.6 acres in Williston Basin, North Dakota. "The Continental acreage is located approximately ten miles from the company's Whiting wells, in a highly attractive part of the basin. The cost of the acreage acquired by Zephyr was approximately USD170,000 and was paid for from the company's existing cash resources," company adds.



Katoro Gold PLC - gold & nickel exploration and development company - Says results from competent person's report at Blyvoor gold tailings asset confirm show total project resource size of 1.4 million ounces of gold, 500,000 ounces of which in measured category, 368,000 in indicated resources and 542,000 in inferred. "We are extremely satisfied and pleased with the results of the projects thus far. Completion of technical work was delayed substantially by repeated Covid-19 restrictions in South Africa, but at the same time allowed for better and more detailed review and optimization work to be done," Executive Chair Louis Coetzee says.



United Oil & Gas PLC - London-based explorer and producer - Says headline test results from Lower Bahariya and Abu Roash C in Abu Sennan asset exceed expectations. Also reports notice of commercial discovery at ASD-1X discovery. "Today's announcement is yet another positive result from Abu Sennan, with the notice of a commercial discovery at ASD-1X, and it is very pleasing to see the application for a development lease being submitted," Chief Executive Brian Larkin says.



Active Energy Group PLC - renewable energy and forestry management firm - "Strongly refutes" allegations by non-profit environmental group Southern Environmental Law Center. Says SELC alleges that Active Energy is "discharging wastewater without the required permits". Files motion to dismiss SELC US federal court litigation. " The facts conclusively show that the only wastewater discharge activities which AEG is involved with have been fully authorized. SELC knows the allegations contained in the US federal court litigation are false. Given that, in addition to seeking to have the US federal court action dismissed, AEG intends to seek sanctions against SELC for having failed to conduct a reasonable inquiry as to the facts and/or law prior to filing this suit," Active Energy says.



Karelian Diamond Resources PLC - Finnish-focused diamond developer - Says results from exploration work at Lahtojoki South diamond asset, Finland offer "further evidence of undiscovered, potentially diamondiferous kimberlite".



ITM Power PLC - Sheffield-based hydrogen energy solutions - Establishes ITM Motive Ltd as separate, wholly-owned limited company. "Forming ITM Motive into a separate legal entity gives us the agility to form flexible business plans for our new builds as we look to scale up to cater for fleets of commercial and municipal vehicles," ITM Motive Managing Director Duncan Yellen says.



Gulf Marine Services PLC - Abu Dhabi-founded provider of self-propelled self-elevating support vessels for oil, gas and renewable energy industries - Wins nine-month deal for a K-Class vessel in the MENA region, beginning in third quarter of 2021. "With this contract win, secured utilisation for the current year stands at 80% underpinning USD114 million of revenue secured to date for 2021 full year, reflecting the company's continued commitment to maximise the value from its assets, combined with positive momentum in its core markets," Gulf Marine says.



Tekmar Group PLC - provider of technology and services for offshore energy markets - Says in talks with Orsted regarding potential issues with Tekmar Energy's cable protection service at Orsted wind farms in UK and continental Europe. "We are in discussions with Orsted relating to the protection of their installed array cables on one offshore wind farm project, namely Race Bank in the UK, and are supporting them to identify the root cause and remedial actions through standard operational engagement," Tekmar Chief Executive Officer Ally MacDonald says. "At this stage, in relation to our ongoing discussions with Orsted, we do not anticipate a material financial impact for Tekmar Group."



Victoria PLC - Worcestershire-headquartered flooring firm - Buys Edel Group BV, a Netherlands-based designer and manufacturer of artificial grass and carpets, for EUR49.4 million. Says deal is a "substantial expansion" of Victoria's artificial grass business.



Zegona Communications PLC - acquires businesses in European telecommunications, media and technology sector - Investor Marwyn Investment Management LLP says Zegona shareholders "do not have sufficient clarity on Zegona's intentions regarding the return" of proceeds from MasMovil's buy of Euskaltel. Zegona stands to receive GBP370 million. Zegona notes it received requisition for general meeting from Marwyn.



InfraStrata PLC - London-based strategic infrastructure projects company - Proposes placing to raise GBP9.0 million in two tranches. First, GBP3.6 million and then GBP5.4 million. Also proposes open offer to raise GBP4.1 million. "The net proceeds from the fundraising will be used to carry out material fabrication works as the company has now secured its first major contract through the GBP26 million Saipem contract recently won," Infrastrata says. Also to go towards satisfying bond required for first phase of Saipem work.



By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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