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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Finsbury Food Group PLC - bakery and food service firm - Expects annual revenue to be GBP306.3 million, down from GBP315.3 million, due to declines in UK Bakery and Overseas division. First half revenue grew by 4.7% to GBP159.4 million, but second half was affected by Covid-19, with revenue falling by 9.8% to GBP146.9 million
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Open Orphan PLC - pharmaceutical services - Signs option to acquire CHIMagents Ltd for nominal sum. CHIMagents recently established to assist in design and manufacture of challenge agents for use in challenge studies. Open Orphan has three months to exercise the option.
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Air Partner PLC - aviation services - Security business Redline appointed to develop and deliver security management system for ISS Australia & New Zealand. ISS is a facility services provider, which provides security, screening and facility services across airports and ports. Trading remains ahead of budget with underlying pretax profit of GBP10 million in the first five months of 2020.
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Cambridge Cognition Holdings PLC - brain health firm based in Cambridge - Collaborates with 4YouandMe and Center for International Emergency Medical Services to investigate use of wearables and mobile phones to measure stress recovery in health works in the US caring for Covid-19 positive patients. Virtual study to take place over six months with up to 500 participants.
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Destiny Pharma PLC - Brighton-based biotechnology firm - Notes launch of USD1 billion AMR Action Fund to provide financial resources and technical support to help biotechnology companies bring novel anti-infective drugs to patients.
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Kodal Minerals PLC - mineral exploration and development - Signs USD1.5 million unsecured convertible loan agreement with Riverfort Global Opportunities PCC and YAII PN Ltd, which will allow for the continued development of its flagship Bougouni lithium project in Mali, and its gold projects in Mali and the Ivory Coast.
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Woodbois Ltd - Africa-focused timber producer - Raises GBP13.1 million through placing, retail offer and subscription of 655.0 million shares at a price of 2.0 pence per share, which will go towards expanding its production capacity and margins in Gabon, as well as grow its trading activities worldwide. Intends to pay dividend at end of 2021 financial year.
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Premier African Minerals Ltd - southern Africa-focused miner - Ministry of Industry, Commerce & Enterprise Development confirms that National Indigenisation & Economic Development Fund-appointed directors at RHA Tungsten Pvt Ltd can continue to act in their capacity. This removes one obstruction to finding a mutually acceptable solution to RHA's funding and equity dilemma.
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Caspian Sunrise PLC - oil & gas exploration - All Kazakh regulatory and shareholder approvals have been received, and relevant paperwork sent to UAE to complete the required re-registration of ownership of the Caspian Explorer, allowing for the acquisition of the asset.
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Allergy Therapeutics PLC - Sussex-based biotechnology firm - Expects earnings to be ahead of market expectations For year ended June 30. Revenue set to be GBP78.2 million, up 6% from GBP73.7 million. To repay all UK furlough monies claimed back to the government. Grass MATA MPL clinical programme expected to start next month as planned.
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AFC Energy PLC - hydrogen power generation technology developer - Forms collaboration with electric international rally series Extreme E to supply hydrogen fuelled, off-grid power for electric SUV racing due to start in early 2021.
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Carr's Group PLC - agriculture and engineering firm - For 19-week period ended July 11, trading remains in line with management expectations for financial year ending August 29. Agriculture division ahead of expectations, but Engineering unit affected by temporary interruptions to nuclear and defence projects. To pay interim dividend of 2.25p per share on October 2.
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BATM Advanced Communications Ltd - Israel-based data and telecommunications company - Develops three new test kits for Covid-19. Serologic test upgraded to measure quantity of antibodies in blood instead of just presence or absence. Antigen test upgraded to detect spike S gene to allow for diagnosis of Covid-19 in people with low viral loads. New molecular diagnostics test to identify specific respiratory virus. Sales and production to begin at start of fourth quarter of 2020.
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Mission Group PLC - creative agency - Expects revenue for first half of 2020 to be GBP29 million, down from GBP39 million the year before. Anticipates pretax loss of GBP2.2 million in interim period versus profit of GBP3.4 million. However, for 2020 as a whole, expects to deliver a profitable performance but at lower levels than 2019.
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Alpha FX Group PLC - currency risk management and payments - For first half of 2020, revenue increased by 16% to GBP18.0 million from GBP15.6 million, as average revenue per client rose with net increase of 28 clients to 671. Continues to invest in back office headcount and graphic expansion despite challenging environment.
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Bezant Resources PLC - operator of Kalengwa copper-gold project in Zambia and Hope copper-gold project in Namibia - Due diligence on Hope project progressing as planned, with combined mineral resource of 10.2 million tonnes at 1.9% copper and 0.3 grams per tonne of gold. From metallurgical test work, excellent recoveries made of 96% copper and 84% gold to a 28% copper grade.
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Portmeirion Group PLC - homewares manufacturer and distributor based in Stoke-on-Trent - Sales for six months to June to be down 8% at GBP32 million from GBP34.9 million. Like-for-like sales down 20%, excluding sales from Nambe division acquired in July 2019. Expects to report low single million pound pretax loss compared to profit of GBP500,000.
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Real Estate Investors PLC - Midlands-focused real estate investment trust - Rent collection for quarter to the end of June rises to 90.2% from 81% reported on June 15. Meanwhile rent collection for quarter ending September is 82% so far. Expects to pay 0.5 pence per share dividend on July 24.
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SEC Newgate Spa - communications, advocacy and research - Launches TRUE, an AI-powered platform to run new-to-market semantic and reputation assessments. Initially function in Italian, but can work five other languages, including English, French, German and Spanish. English version expected to be available in fourth quarter of 2020.
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Hydrogen Group PLC - recruitment firm - For the first six months of 2020, net fee income at GBP11.7 million, down from GBP15.3 million, as Covid-19 pandemic impacted client demand from Asia Pacific in January, which spread to its EMEA and US businesses over time.
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Arcontech Group PLC - market data software firm - Profit for year to the end of June set to be in line with market expectations, while net cash as at June 30 is GBP5.0 million, up from GBP4.1 million.
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GCP Asset Backed Income Fund Ltd - Asset backed loans investor - Net asset value per share as at June 30 was 100.83 pence. Will continue to keep in place discount rate movements on loans made to different investments due to continued uncertainty from Covid-19 pandemic.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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