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Pin to quick picksCOPL Share News (COPL)

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TRADING UPDATES: Cerillion profit up; Iofina says iodine demand strong

Tue, 19th Apr 2022 12:02

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

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Cerillion PLC - London-based billing and customer relations management software - Says trading in six months March 31 "vert strong". Expects revenue ro rise 26% annually to GBP16.1 million. Adjusted earnings before interest, tax, depreciation and amortisation to jump 48% to GBP7.1 million. "Cerillion's sales pipeline remains strong and this, together with the record performance in the first half of the year, underpins the board's confidence that trading for the full year will be in line with its expectations," Cerillion says. "The excellent performance in the first half reflects on-going work on new customer implementation projects and strong demand from existing customers, against a wider back-drop of continuing strength in demand for telecoms services and substantial ongoing investment in 5G and fibre rollout."

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Iofina PLC - London-based iodine and chemical product manufacturer - Says "experiencing robust demand for iodine and iodine derivatives". Says iodine spot prices reach USD60 a kilogramme, rising 20% since start of year. Produces 103.8 metric tonnes of crystalline iodine from Oklahoma, US plants in first quarter. On track for annual target of 225 to 240 metric tonnes.

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Canadian Overseas Petroleum Ltd - Calgary, Canada-based oil and gas company - Says affiliate COPL America Inc signs deal to buy assets from Cuda Energy LLC. Canadian Overseas signs USD20.0 million bridge loan to finance deal. In addition, it plans USD10.0 million placing and subscription. Cuda has interests in Wyoming, US.

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Anglo Pacific Group PLC - natural resources royalty and streaming - Receives favourable judgement in dispute with Quasar Resources Pty Ltd, operator of Four Mile uranium mine. Anglo Pacific has 1% net smelter return royalty at asset. Dispute, which dates back to 2016, related to level of charges being applied to calculate net smelter return revenue. Supreme Court of Western Australia rules in Anglo Pacific's favour and decides any costs at asset, and also Beverley processing plant, should be applied as permitted allocable charges. Company adds: "The parties must now finalise orders to be submitted to the judge by 22 April 2022. The group will make a further announcement after such date detailing amounts owed to the group from Quasar and the future application of the royalty. Quasar have 21 days from the date the final orders are made by the judge to appeal the decision."

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Altus Strategies PLC - Oxfordshire, England-based mining royalty company - Granted gold mining licence for Korali Sud licence in Mali, which includes Diba project. Calls on Bristol, UK-based Mining Plus UK Ltd to conduct mineral resource estimate and preliminary economic assessment.

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Invinity Energy Systems PLC - London-based energy storage company - Secures trio of International Organization for Standardization certifications for quality management, environmental management and health & safety management. "The individual standards to which Invinity is now certified are core to the company's business," Invinity adds.

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Velocys PLC - Oxford-based sustainable fuel technology company - Agrees with British Airways to extend Altalto project and option agreement for another year to March 31, 2023. BA has option to acquire 50% of Altalto Ltd, which turns household and commercial waste into clean-burning fuels. In addition, company draws back to its recent announcement in relation to securing a deal with a European renewable fuels developer. As part of this pact, Velocys will offer initial engineering services to a project." While revenue for deal will be small, Velocys says pact "broadens" its customer base.

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Tintra PLC - Windsor, Berkshire-based firm building banking and infrastructure technology systems - Granted payment services approval in Mauiritius. Company says this allows Mauritius arm to provide payment services and merchant online services for accepting electronic payments. "Mauritius has become an important financial services hub for Africa and South Asia," Tintra says.

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Bango PLC - Cambridge-based data-driven commerce company - Signs deal to support

T-Mobile US Inc's third-party products offering within Bango Platform. "Bango enables T-Mobile to rapidly and cost effectively scale-up value-added-service offerings, giving customers choice and value across a growing range of subscription products and services. With this new agreement, a majority of US telco customers will now be served through Bango technology," Bango explains.

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SysGroup PLC - Liverpool-based IT services and cloud-hosting provider - Expects to report adjusted earnings before interest, tax, depreciation and amortisation of GBP2.8 million for year ended March 31, down from GBP2.9 million in prior year but largely in line with figure for financial 2020. SysGroup says this is despite "external challenges faced throughout our industry over the last 2 years". Revenue for year expected to decline as customers defer IT spend. SysGroup adds: "Encouragingly, during the latter part of H2 FY22, we have started to see enhanced trading conditions with both new and existing clients. Whilst not yet at pre-pandemic levels, customers are once again starting to feel confident to commit to spending on enhancements to their essential IT services."

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Venture Life Group PLC - Berkshire, England-based self-care product manufacturer and distributor - Reiterates 2021 guidance. Expects to post revenue rise of 8.3% to GBP32.6 million from GBP30.1 million. Revenue in second half alone rises 35% year-on-year to GBP18.7 million. Adjusted earnings before interest, tax, depreciation and amortisation to be in line with market expectations. On ongoing audit, Venture Life says its auditors "continue to experience resourcing issues". Additional time is needed to complete audit procedures and 2021 results expected to be announced in "early May".

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
12 Mar 2024 08:29

IN BRIEF: Canadian Overseas Petroleum applies for debtor protection

Canadian Overseas Petroleum Ltd - oil and gas exploration company with operations in US state of Wyoming - Shares suspended from trading in London and Toronto on Monday, after COPL applies for an initial order under the companies' creditors arrangement act in Canada. COPL had warned in February of its "precarious financial situation", and the application for debt protection follows expiration of a forbearance agreement with its senior lenders. The CCAA order provides for a stay in legal proceedings, approval of debtor-in-possession financing, and the appointment of KSV Restructuring Inc to act as monitor of the company. COPL says it will continue to operate and pay critical suppliers, but there is "little prospect for a return to shareholders or bond holders". COPL on Tuesday confirms the initial CAA order has been issued by the court in the province of Alberta. At the same time, senior lenders to subsidiary COPL America Inc agree to support a sale and investment solicitation process.

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29 Feb 2024 18:52

EARNINGS AND TRADING: Frontier IP sells last of Exscientia holding

(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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22 Feb 2024 14:22

TRADING UPDATES: Mycelx starts strongly; Great Southern in Chile deals

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

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12 Feb 2024 12:09

IN BRIEF: Canadian Overseas announces resignation of CFO Gaffney

Canadian Overseas Petroleum Ltd - London and Calgary, Canada-based oil and gas exploration company with operations in Wyoming, US - Announces that Chief Financial Officer Ryan Gaffney has stepped down from his role. Board "will be considering a process to identify qualified candidates" to replace Gaffney, but notes this is taking place "amidst ongoing restructuring discussions". Adds that Province LLC is supporting it through the provision of various operational and financial advisory services.

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18 Jan 2024 20:32

EXECUTIVE CHANGES: Eco Buildings chair leaves and vice chair ousted

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

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16 Jan 2024 11:31

IN BRIEF: Canadian Overseas closes "critical" short-term financing

Canadian Overseas Petroleum Ltd - London and Calgary, Canada-based oil and gas exploration company with operations in Wyoming, US - Announces completion on Monday of "critical" USD2.5 million equity financing, issuing 1.31 billion shares to its "leading" equity and convertible bond investor Anavio Capital Partners LLP. Upon closing, Anavio holds 24.5% of company's share capital. Company will also grant Anavio 1.31 million warrants exercisable at 0.15 pence per share.

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15 Jan 2024 11:28

IN BRIEF: Canadian Overseas shares surge on exchange exemption request

Canadian Overseas Petroleum Ltd - London and Calgary, Canada-based oil and gas exploration company with operations in Wyoming, US - Requests exemptions under Policy 4, Corporate Governance, Security Holder Approvals & Miscellaneous Provisions of the Canadian Securities Exchange. Says request is with respect to CES's requirement for security holder approval of an offering. Company believes it satisfies the majority of requirements for an exemption, in part due to being in "serious financial difficulty".

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12 Jan 2024 12:00

IN BRIEF: Canadian Overseas unaware of reason for stock price surge

Canadian Overseas Petroleum Ltd - London and Calgary, Canada-based oil and gas exploration, development and production company with operations in Converse and Natrona counties in the US state of Wyoming - Notes recent movement in share price. Says it is "not aware" of reasons for this movement.

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27 Dec 2023 09:47

SMALL-CAP WINNERS & LOSERS: Canadian Overseas up as brief CEO resigns

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

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27 Dec 2023 09:42

Canadian Overseas Petroleum CEO resigns after four months in post

(Alliance News) - Canadian Overseas Petroleum Ltd on Wednesday said Chief Executive Officer John Cowan has resigned after just four months on the job.

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27 Dec 2023 08:48

LONDON MARKET OPEN: FTSE 100 gains led by miners and industrials

(Alliance News) - Stock prices in London opened in the green on Wednesday, as hopes for US interest rate cuts in the new year continued to propel global equities higher.

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27 Dec 2023 07:52

LONDON BRIEFING: AstraZeneca buys Gracell Biotech; COPL CEO resigns

(Alliance News) - Stocks in London were expected to make gains at Wednesday's market open, as investors continued to pin their hopes on US interest rate cuts.

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18 Dec 2023 10:59

IN BRIEF: Canadian Overseas Petroleum shares plunge as JV talks end

Canadian Overseas Petroleum Ltd - oil and gas exploration, production and development company - Says its non-binding Cole Creek joint venture letter of intent has been terminated. Adds that there are no further discussions planned. COPL holds a 100% operating interest in the Cole Creek unit.

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18 Dec 2023 10:15

SMALL-CAP WINNERS & LOSERS: Canadian Overseas Petroleum JV plans axed

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

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18 Dec 2023 09:07

LONDON MARKET OPEN: FTSE 100 edges higher as Fed rally fades elsewhere

(Alliance News) - The FTSE 100 managed to eke out some minor gains at Monday's market open, while stocks elsewhere pulled back after last week's advance.

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