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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Argo Blockchain PLC - cryptocurrency miner based in London - Prices float of 7.5 million American depositary shares on Nasdaq Global Market. Each ADS will fetch USD15, raising USD112.5 million in total.
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Home REIT PLC - London-based real estate investment trust - Raises GBP350 million through oversubscribed fundraise. Fundraise consists of 321.1 million shares at a price of 109 pence each. Home REIT adds: "Given the strong level and quality of demand from investors in the capital raise, the board determined to increase the size of the Initial Issue from the target of approximately GBP262 million to GBP350 million. Notwithstanding this increase, investor demand exceeded the maximum size of the Initial Issue and a scaling back exercise was undertaken." Cash will go towards its GBP400 million pipeline.
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AdEPT Technology Group PLC - London-based information technology provider - Makes "positive" start to new financial year, which ends on March 31. Says "current trading in line with its expectations". Notes organic recurring revenue growth cloud centric services, both on annual and quarter-on-quarter basis. "Revenues in one-off services are also ahead of Q121 with demand for technology products returning. We are also seeing an encouraging trend of repeated business from existing clients for their one-off purchases. The well documented supply issues caused by the global chip shortage has the potential to delay the delivery of some products and associated services, but we are working closely with our partners to mitigate supply chain delays where possible," AdEPT says. Company adds its priority is to pay down debt and will review dividend policy at year end.
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Air Partner PLC - Gatwick-based aviation services provider - Reports new deals at Safety & Security division. Subsidiary Baines Simmons, an aviation safety and fatigue risk management consultancy, awarded contracted by ferry operator Caledonian MacBrayne. Baines will build on Caledonian's safety record and staff engagement. Security solutions unit Redline inks 12-month contract extension with Manchester Airports Group and secures new deal with London Gatwick Airport. Both will see Redline provide a quality assurance covert testing programme.
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Chill Brands Group PLC - London-based cannabidiol products - Develops new tobacco-free nicotine product line. The products are flavour pouches and will launch "in the coming months". Chill adds: "Chill's new product line will be distributed through the company's extensive network of retail partners and is positioned to benefit from shifting consumer sentiment. Recent months have seen some of the world's foremost tobacco companies set out plans for the gradual discontinuation of traditional tobacco products which may signal their ultimate social stigmatisation and decline."
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Feedback PLC - medical imaging software company - Launches Bleepa Box, which allows for image transfer to Bleepa medical imaging product from remote settings. "Bleepa Box is a small tablet device that connects to imaging machines in order to securely push images to Bleepa over a mobile network from remote locations. Crucially Bleepa does not need WiFi access," Feedback says. The veterinary imaging market in the UK, which Bleepa Box could be used in, is tipped to be worth GBP2.24 billion by 2025. Feedback adds: "Bleepa Box's remote image capabilities are relevant to a number of other significant commercial opportunities including the delivery of rural imaging for TB screening services in India."
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Phoenix Copper Ltd - British Virgin Islands-based base and precious metals production and exploration company - Says Empire open pit mine in Idaho on track to start production on schedule, "despite many delays in the industry as a whole". Completes six core holes as part of exploration programme, but notes drilling is behind schedule. "Although our exploration program drilling schedule is running later than originally anticipated due to these delays, we count ourselves fortunate for continuing to make progress. While these delays are frustrating, they are industry and country wide, and we remain confident that we will be able to conclude our planned drilling programs for this year," Chief Executive Officer Ryan McDermott says.
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Lexington Gold Ltd - gold exploration and development company operating in North and South Carolina in the US - Reports maiden JORC mineral resource estimate for Jones-Keystone-Loflin project. Says there is an inferred resource of 2.1 million tonnes at a grade of 0.99 grammes per tonne of gold for 65,056 ounces of contained gold. "With further drilling planned to investigate potential extensions to the mineralisation at Loflin as part of the upcoming reverse circulation drill campaign, as well as additional drilling to test further gold anomalies, we are optimistic about the potential for significantly expanding the maiden resource estimate for the Loflin side of JKL," CEO Bernard Olivier says.
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Cornish Metals Inc - miner with assets in Cornwall - Says second drill rig added for ongoing 9,000 metre drill programme at United Downs asset in Cornwall. The rig will explore the Trenares Lode target. "Drilling has commenced at Trenares Lode and the initial programme will involve up to 12 holes from four locations over the next three months," Cornish says.
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IOG PLC - gas production focused on the UK's southern North Sea - Raises GBP8.5 million through placing of 33.8 million shares at 25p each. "The net proceeds of the fundraise will primarily be used by the company to pursue a high-return incremental opportunity in addition to its existing development assets portfolio, by funding its 50% net share of the cost of drilling a dual-lateral appraisal well at the Kelham North and Kelham Central prospects in licence P2442," IOG says.
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Panther Metals PLC - focused on mineral exploration in Canada and Australia - Says all drilling equipment mobilised at Dotted Lake gold asset in Ontario, Canada. "It is expected the drill hole collar will be set on Thursday morning, with core drilling of the planned 400 metre deep hole following on immediately," Panther says.
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Enwell Energy PLC - oil and gas producer in Ukraine - Spuds SV-31 well at Svyrydivske gas and condensate field in Ukraine. Well has target depth of 5,250 metres and drilling operations to be completed by end of first quarter of 2022.
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By Eric Cunha; ericcunha@alliancenews.com
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