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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Capita PLC - London-headquartered outsourcer - Completes sale of Axelos Ltd, its joint venture with the UK government, to PeopleCert International Ltd. Deal values Axelos at GBP380.0 million on a cash-free, debt-free basis. Capita owns 51% of the business, and will receive proceeds of GBP172.5 million from the sale plus an GBP11.1 million dividend, for a total of GBP183.6 million. The UK government, which owns the remaining 49% of Axelos, also will sell its stake.
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Custodian REIT PLC - Leicester, England-based real estate investment trust - Sells portfolio of properties for GBP23.4 million. The portfolio comprises five industrial sites in Gateshead, Stockton-on-Tees, Warrington, Stone and Christchurch with a current passing rent of GBP1.4 million. The properties within the portfolio were acquired either in the seed portfolio at IPO or within subsequent portfolio acquisitions. Agreed sale price is 21% above March 31 valuation. Richard Shepherd-Cross, managing director of Custodian Capital, the company's external fund manager, says: "Investment demand and pricing for industrial assets are both at record levels, so we believe now is the best time to sell to capitalise on the current, favourable market dynamics to secure a significant profit."
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Sareum Holdings PLC - Cambridge, England-based molecule drug discovery firm - Notes the US Patent & Trademark Office backs a patent associated with Sareum's SDC-1802 TYK2/JAK1 kinase inhibitor programme. SDC-1802 is a cancer treatment.
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Augean PLC - Walton, England-based hazardous waste treatment and disposal company - Accepts 280 pence per share offer from Morgan Stanley Infrastructure Inc. Company closed at 295p in London on Friday, but is 36% premium to company's daily volume weighted average share price of 220.8p. Executive Chair Jim Meredith says: "The board of Augean believes that MSIP is well-respected as a long-term investor in the infrastructure sector and will be able to support Augean's strategy of providing the highest level of customer service and safe operations in niche and highly regulated hazardous waste markets which should allow the business to develop its services to an increasing breadth of customers while offering commensurate opportunities for our employees." Says offer provides attractive value to Augean shareholders.
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Premier Miton Group PLC - London-based asset manager - Ends June 30 with net asset value per share of 177.59 pence, up 2.4% from 173.48p at December 31. Declares dividend of 4.45p, down from 5.60p year before. NAV total return in first half 4.2%, down from FTSE Global Core Infrastructure 50/50 Total Return Index advancing 6.3%. "Investment activity was lower than recent levels, and unlike 2020, we have not felt the need to carry out equity market hedging activities. The renewables and clean energy sectors were weak in the first half of 2021; however, despite this, PMGR managed to generate a positive return. This was partly due to some very strong performances in a small number of investments in China, which more than offset modest losses elsewhere," Fund manager James Smith says.
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Thor Explorations Ltd - Vancouver, Canada-based gold exploration and development company - Starts first gold pour from its Segilola gold mine located in Osun State, Nigeria. The pour took place July 30. The process plant ramp up will continue over the next six weeks with commercial production targeted for September 2021. At commercial production, the plant will run at a processing rate of 715,000 tonnes per annum, targeting about 85,000 ounces of gold per annum. Chief Executive Segun Lawson says first pour is "significant achievement".
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Aberdeen New Thai Investment Trust PLC - investment firm - Proposes voluntary winding-up, a partial cash exit opportunity and a rollover into Aberdeen Emerging Markets Investment Co Ltd. Moves will give it exposure to investing directly in Chinese equities and "highly successful" Aberdeen Standard Investments equities team. At June 30, AEMC has gross assets of GBP388 million, and will change its investment policy to one of investing directly in Chinese equities.
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Sutton Harbour Group PLC - Plymouth-based harbour operator - Gets valid offers for 13.1 million shares in open offer and a further 899,830 under an excess application facility, raising GBP3.5 million.
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Alien Metals Ltd - London-based mineral exploration and development company - Exclusivity agreement with owner of the Elizabeth Hill silver tailings project, located on the Elizabeth Hill silver project site, has come to an end. Chief Executive Bill Good says: "With a number of key project developments and priority technical work in the pipeline, we have decided to suspend our current work and review of the Project. We still see potential in the silver tailings, and may revisit the Project in due course when other projects will allow for this."
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Nostrum Oil & Gas PLC - oil & gas exploration and production company operating in Kazakhstan - Expects first half revenue to be over USD92 million, flat year on year. Average daily production after treatment for first half totalled 18,107 boepd with average daily sales volumes of 16,249 boepd. "The production decline means that we do not make condensate sales each month because we have insufficient volumes to form a cargo. Condensate inventory at June 30 amounted to approximately 220,000 barrels," company explains. Chief Executive Arfan Khan says: "We continue to engage with parties interested in using the spare capacity in our gas processing facilities to process their gas as well as the local and national government departments who will be essential to such projects."
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TechFinancials Inc - fintech software provider - Improves to pretax profit of USD897,000 in 2020 from USD6.2 million loss in 2019. Revenue drops to USD1.3 million from USD3.4 million. Research & Development expenses drops to USD512,000 from USD2.2 million, and administrative expenses falls to USD654,000 from USD2.6 million.
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Dispersion Holdings PLC - investor in decentralised finance, which uses blockchain and cryptocurrencies to remove financial intermediaries from transactions - Pretax profit in six months to April 30 was GBP145,167, on GBP945,000 fair value adjustment. Administrative expenses GBP799,854. Completes IPO on London's AQSE Growth Market on April 30 with market cap of GBP18.3 million. Chief Executive Michael Edwards says: "Our successful flotation on the AQSE Growth Market was Dispersion's most important milestone during the first half. It has provided us with the capital and credibility to be an early investor in the rapidly growing global market of decentralised finance as well as to take a ring-side seat at London's world-class and hugely promising fintech sector, which is spawning many new disruptive businesses with great long term potential." Says made "flying start" with six investments.
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Safestay PLC - London-based hostels operator - Pretax loss in 2020 widens to GBP10.1 million from GBP635,000 in 2019. Revenue drops sharply to GBP4.8 million from GBP18.4 million. Administrative expenses slips to GBP11.5 million from GBP13.0 million. Chair Larry Lipman says: "2020 was an extraordinary year which brought the global travel industry to a near standstill. For Safestay, our hostels closed for more than seven months which is clearly reflected in our trading performance. Like others, our focus switched to first protecting the business and then securing the capital to enable the business to re-emerge strongly. In this we have been successful, through first substantially reducing our cost base, taking advantage of government grants and renegotiating rental terms with our landlords. As a result, our monthly fixed costs reduced from GBP1.0 million to GBP350,000. More recently, we completed the sale of two assets to raise GBP16.8 million giving us sufficient capital to compete strongly for when the market recovers, and new opportunities arise."
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KRM22 PLC - risk management company - Signs contract extension with an existing Risk Cockpit customer. Signed a three-year contract extension with an unnamed tier one customer, with annual recurring revenue of GBP400,000 per year, an increase in existing ARR of GBP150,000 per year. In addition to the immediate increase in ARR, the contract includes an option to increase ARR further by up to GBP200,000 by March 2022. Executive Chair Keith Todd says: "I'm pleased that we can announce this contract signature. As stated in the trading update, the precise timing of contract signature is uncertain however we expect further contract signatures in the near future. The contract extension for a further three years is endorsement of our Risk Cockpit product applied to operational risk management."
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Apollon Formularies PLC - London-based medical cannabis pharmaceutical firm - Extends existing right to purchase option to acquire US-based beverage company CBev Ventures Inc which expires on July 30, for a further 90 days ending October 28. The company intends to use the extended option period to conduct small-scale commercial trials on CBev's product range prior to any potential exercise of the RPU. CBev develops, markets and distributes functional and craft proprietary non-alcoholic beverages in the legal CBD.
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Thalassa Holdings Ltd - invests in real estate, fintech and robotics - Enters into non-legally binding heads of terms between Anemoi International Ltd and one of its investee companies, id4 AG for the proposed acquisition of the entire issued share capital of id4 by Anemoi. "The board carefully considered id4's stage of development, funding needs and potential benefits of becoming part of a listed entity with id4's founders and senior management team. Following these discussions, it was agreed that the opportunity offered by Anemoi should be taken forward and accordingly the Heads of Terms were entered into," company says.
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By Paul McGowan; paulmcgowan@alliancenews.com
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