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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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Hellenic Dynamics PLC - Greece-based cultivator and supplier of pharmaceutical standard medical cannabis products - Raises GBP217,000 via the issue of around 10.9 million shares at 2 pence each. Proceeds will be used for general working capital purposes up until the EUR1 million loan facility, announced on April 22, is received. Expects this to occur during mid-June.
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Eqtec PLC - Cork, Ireland-based thermochemical conversion technology company - Announces a further drawdown on its syndicated debt facilities. In November, Eqtec announced it had refinanced debt facilities through entering into a new syndicated debt facility of up to GBP3.0 million, with GBP950,000 being drawn down in November 2023. Now says a further advance of GBP245,000 has been agreed. This provides working capital in advance of the anticipated receipt of the proceeds from the settlement with Logik Developments, in particular the expected completion of the sale of land from which GBP2.0 million will be paid to Eqtec.
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Acuity RM Group PLC - London-based risk management company, which provides services via its Stream software platform - Says subsidiary, Acuity Risk Management Ltd, which supplies the STREAMa software platform, has signed a new partnership with BSI Group, the standards institute. This is accompanied by an initial order.
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Town Centre Securities PLC - Leeds, England-based property investor, car park and hotel operator - Explains the interim dividend of 2.5 pence per share announced with the half year results for the six months ended December 2023, will now be paid out as a Property Income Distribution as opposed to a dividend. This will still be paid to eligible shareholders on June 14. Further, proposes special interim dividend of 6p per share. Points out the company left the REIT regime with effect from July 1 2023, but is still required to pay 90% of the tax exempt profits arising from its property rental business during the year to June 30, 2023. The special dividend satisfies the 90% profits requirement. After this, company says it is unlikely to pay a final dividend for the year ended June 30 2024. For the year ending 30 June 2025 and onwards expects to return to paying regular dividends every six months, with the next payment expected to be the interim dividend to be announced in March 2025.
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Ascential PLC - London-based events, subscription business and advisory services-focused company - Says GBP300 million tender offer was oversubscribed. Further, declares GBP450 million special dividend at 128.6 pence er share. Also confirms terms of share consolidation. Terms are 10 new Ascential shares for every 17 existing Ascential shares. Notes this consolidation ratio reflects the level of take-up under the tender offer, the final quantum of the special dividend and the market price of Ascential shares.
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Ondine Biomedical Inc - Vancouver-based life sciences company - Increases size of placing due to increased demand from existing and new investors. Plans to raise GBP3.24 million via the placing, up from GBP3.0 million originally. The amount raised via the subscription, GBP0.29 million, is unchanged. In total, plans to raise GBP3.54 million at 7 pence per share.
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Proton Motor Power Systems PLC - London-based designer and producer of hydrogen fuel cells and hydrogen fuel cell electric hybrid systems - Plans to cut workforce by 17% as part of plans to "actively" manage its cost base. This reduces annual overheads by around GBP1 million, Proton says.
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Greencoat Renewables PLC - Dublin-based investment company, focused on wind farms and renewable energy assets across Europe - Plans to start initial tranche of its EUR25 million share buyback programme on Wednesday. Intends to complete this buyback within a six-month period. On completion, plans to review further share buyback programmes against its capital allocation priorities at that time.
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CleanTech Lithium PLC - Chilean-focused lithium exploration and development company - Updates on shareholding of former Chief Executive Aldo Boitano. Boitano was suspended on April 9 for failing to disclose that he agreed to provide shares in the company as security for a loan. He subsequently resigned. On Wednesday, CleanTech says it believes Boitano does not have an interest in any of the company's shares. Thinks Boitano transferred all his 9.4 million shares to a financial institution to provide security.
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By Jeremy Cutler, Alliance News reporter
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