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EARNINGS AND TRADING: EDX Medical reports loss; Brandshield CFO leaves

Mon, 02nd Oct 2023 18:40

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

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EDX Medical Group PLC - Cambridge, England-based company that develops digital diagnostic products and services for the treatment of cancer, heart disease, and infectious diseases - Reports a pretax loss of GBP3.7 million in the year ended March 31. Revenue in the year totals GBP3,864. Company provides no comparison year. Says it is preparing the ground for "significant" business growth over the next three years. "We have invested sensibly into a number of very attractive new product areas that all have attractive future markets. As the company focuses on crystalising the many commercial opportunities into forthcoming revenues, this should trigger investor and shareholder responsiveness that matches the series of announcements that we are currently finalising," comments Chair Jason Holt.

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Canadian Overseas Petroleum Ltd - oil and gas exploration, production and development company focused on the US state of Wyoming - Amends its senior credit facility, providing a waiver of its covenant tests as of September 30. Waiver is conditional on the closing of the company's financing, which has been extended by agreement with Avavio Capital Partners LLP to Friday. Company on track to close financing prior to Friday.

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Brandshield Systems PLC - Herzliya, Israel-based provider of cybersecurity solutions - Announces that Ravit Freedman has left the company with immediate effect. Freedman was chief financial officer and a director of the company. Company begins process to appoint a successor.

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Tintra PLC - London-based DeepTech bank that uses artificial intelligence to help people in emerging markets transfer money - Reports a pretax loss of GBP2.9 million in the year ended January 31, widened from a loss of GBP954,000 the year prior. Records no revenue, compared to GBP351,000 the year prior. Total administrative expenses jump to GBP2.6 million from GBP1.4 million. "The board of directors are delighted with the significant progress that has been made in the group's transformation during the period. The legacy issues of the past are behind us," the company says.

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Stranger Holdings PLC - London-based investment company focused on making targeted acquisitions through which it can implement an operational strategy that will build value - Confirms that the UK Financial Conduct Authority has approved its prospectus regarding the proposed acquisition of up to a 70% interest in the Henkries uranium deposit and a prospecting right in South Africa. The proposed acquisition will see Stranger become the indirect owner of 50.1% of Desert Star Trading 130 Proprietary Ltd. Desert Star is the owner of a uranium prospecting right NC30/5/1/1/2/11918 in the Northern Cape of South Africa, commonly known as the Henkries project. The company will also acquire this indirect ownership via the acquisition of two intermediary holding companies, Mayflower Energy Metals Ltd and Neo Uranium Africa Proprietary Ltd. Mayflower owns 100% of the share capital of Neo Uranium Africa, and Neo Uranium Africa owns 50.1% of the share capital of Desert Star and an earn in option to increase ownership to 70%.

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Amte Power PLC - Oxford, England-based developer and manufacturer of lithium-ion and sodium-ion battery cells - Raises proceeds of GBP100,000 following the closing of a retail offer announced earlier in the day. Application has been made for the retail offer shares to be admitted to trading on AIM. Admission expected to take place tomorrow. 5.4 million shares will be issued at a price of 1.7 pence.

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Barryroe Offshore Energy PLC - company with a controlling interest in a oil and gas discovery in offshore West Cork, Ireland - Says that its examiner has secured a commitment for investment by Lorsden Ltd, the parent company of Vevan Unlimited Co which is the company's largest shareholder. Lorsden agrees to make EUR1.1 million available to the company and also advances a loan of EUR300,000 to enable Barryroe to fully explore its restructuring options. Investor also commits to make EUR5.0 million available upon agreement of an appropriate business plan. These proposals will be put to creditors and are subject to confirmed by the UK High Court. Company also announced that Colin Chrisitie has stepped down as chief financial officer.

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Genel Energy PLC - Kurdistan, Iraq-focused oil producer - Announces a reverse tender offer to holders of Genel Enegy 4 Finance PLC's USD300 million senior unsecured callable bonds. Company intends to select a maximum price and buy bonds offered at and below this maximum price. Company is targeting around USD20 million in nominal value. Buyback offer begins on Monday and will expire next Wednesday.

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Naked Wines PLC - Norwich, England-based wine retailer - Notes 24% of shareholders at its annual general meeting held on September 29 voted against resolution 8, the disapplication of pre-emption rights. Notes all resolutions were passed, however.

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Tap Global Group PLC - cryptocurrency app - Announces its intention to launch in the US, via its wholly-owned subsidiary Tap Americas, through a partnership with Zero Hash LLC, a Chicago-based cypto infrastructure platform. Says that it has built a "significant" waiting list in the US and is now able to provide customers with access to 24 digital assets. Adds the partnership with Zero Hash will also enable Tap to launch a fiat-to-crypto on-and-off-ramp later in 2023.

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By Heather Rydings, Alliance News senior economics reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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18 Dec 2023 07:55

LONDON BRIEFING: Games Workshop seals Amazon deal for Warhammer 40,000

(Alliance News) - Stocks in London were set to retreat slightly on Monday, in line with equity markets in Asia, at the start of the last week before the Christmas holidays.

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15 Nov 2023 14:20

Canadian Overseas shares drop as downtime hits crude oil sales

(Alliance News) - Canadian Overseas Petroleum Ltd on Wednesday said petroleum sales increased in its latest quarter due to rising oil prices, but that crude oil sales fell due to repair work at multiple wells.

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7 Nov 2023 19:29

EXECUTIVE CHANGES: Psych Capital names new CEO; Shuka appoints chair

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Tuesday and not separately reported by Alliance News:

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13 Oct 2023 14:13

IN BRIEF: Canadian Overseas Petroleum raises USD4 million in financing

Canadian Overseas Petroleum Ltd - International oil and gas exploration, production and development company with production and development operations focused in Converse and Natrona counties, Wyoming - Confirms that it has received USD4 million, at 2.6 pence per share, to conclude the financing announced on October 6. As part of its liquidity management and in conjunction with the terms of the financing, Canadian Overseas Petroleum says that it will be settling amounts owed to various creditors in shares over the coming weeks.

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6 Oct 2023 14:07

Canadian Overseas Petroleum raises more equity but at lower price

(Alliance News) - Canadian Overseas Petroleum Ltd on Friday said it raised more equity investment than expected but at a much lower price than originally planned, following a share price tumble over the past month.

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6 Sep 2023 12:59

Canadian Overseas Petroleum improves finances, picks new chair and CEO

(Alliance News) - Canadian Overseas Petroleum Ltd on Wednesday announced a series of improvements to its financing situation, while also installing a new board chair and chief executive officer.

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15 Aug 2023 14:27

Canadian Overseas sells more but cheaper oil in second quarter

(Alliance News) - Canadian Overseas Petroleum Ltd on Tuesday reported it sold more oil in the second quarter of 2023 than a year ago, albeit lower prices reduced revenue.

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24 Jul 2023 10:26

IN BRIEF: Canadian Overseas Petroleum affiliate secures Wyoming deal

Canadian Overseas Petroleum Ltd - oil and gas exploration, production and development company with production and development operations focused in the Converse and Natrona counties, Wyoming - Announces its COPL America affiliate signs non-binding letter of intent for a joint venture with "an established energy company" to develop and exploit oil reserves at the Cole Creek join-venture in Converse and Natrona counties, Wyoming.

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24 Jul 2023 09:24

SMALL-CAP WINNERS & LOSERS: S4 Capital shares drop as guidance lowered

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.

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6 Jul 2023 15:47

IN BRIEF: Canadian Overseas reports quarterly oil production rebound

Canadian Overseas Petroleum Ltd - oil and gas exploration, production and development company with production and development operations focused in the Converse and Natrona counties, Wyoming - Says that oil production in the second quarter rebounded to an average of 1,250 barrels of oil per day, with production for the month of June averaging 1,249 barrels. Pipelining at the Barron Flats Shannon Unit caused intermittent interruptions in injection volumes and production volumes due to temporary shutdown of certain injection wells and production wells.

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26 Jun 2023 20:05

TRADING UPDATES: WANDisco in extra cost savings; SRT raises GBP750,000

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

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20 Jun 2023 15:10

IN BRIEF: Canadian Overseas Petroleum chair steps down, interim hired

Canadian Overseas Petroleum Ltd - Calgary-based oil and gas company with operations focused in Wyoming, US - Chair Harald Ludwig steps down from board with immediate effect. Says John Cowan will become interim chair. As board director Massimo Carello also leaves with immediate effect, says the board now consists of three non-executive directors and one executive director. There are currently no plans to appoint new directors, Canadian Oversea Petroleum says.

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16 Jun 2023 09:19

IN BRIEF: Canadian Overseas shares down on conversion of bonds

Canadian Overseas Petroleum Ltd - Calgary-based oil and gas company with operations focused in Wyoming, US - Issues 25.9 million common shares to settle USD1.3 million of conversion payments. Following the issue of the shares, the company will have a total of 477.5 million shares issued and outstanding.

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5 Jun 2023 13:57

IN BRIEF: Canadian Overseas production recovers after extreme weather

Canadian Overseas Petroleum Ltd - Calgary-based oil and gas company with operations focused in Wyoming, US - Says oil production is increasing due in part to resumption of optimisation programme after disruptions caused by severe winter weather, which reduced sales in the fourth quarter. Average gross production increased 14% to 1,330 barrels of oil per day in May from 1,170 barrels in April. Meanwhile conversions of three Barron Flats Shannon Unit flowing wells to pumping-flowing wells have been completed. The first was converted in April with production more than doubled to 190 barrels per day in May up from 90 barrels pre-conversion. The second well is not yet stable but is producing above pre-conversion levels. The company is planning paraffin treatment schedules to rectify this. Production on the third well resumed on May 31. Canadian Overseas also says the initial phase of the second Cole Creek Unit re-completion for frontier one oil production has been completed, with oil inflow observed upon perforation.

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