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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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Porvair PLC - Norfolk, England-based filtration and environmental technology firm - Says revenue for year ended November 30 expected to rise 8% from GBP135.0 million a year prior. Says "lower aerospace revenue offset by growth in laboratory, metal melt and general industrial segments". Adjusted earnings per share tipped to be at the top end of market forecasts. To report annual results on January 31.
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Xtract Resources PLC - London-based metals and minerals producer - Discovers new copper mineralised porphyry system on the Bushranger copper-gold exploration project. "This is an exciting new discovery, and the team should be complimented for making such a discovery in an established geological setting," Executive Chair Colin Bird says.
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Wishbone Gold PLC - Gibraltar-based precious metals trading and exploration company - Begins drilling at Red Setter project in Western Australia.
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Greatland Gold PLC - gold explorer in Australia - Notes exploration update by Newcrest Mining Ltd. Latest Havieron, Australia results include 24 new drill holes with "significant mineralisation" reported in 19 of them. "A further 10 drill holes have been completed and are awaiting assay," Greatland adds.
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Power Metal Resources PLC - London-based exploration and development company - Says unit Golden Metal Resources Ltd raises GBP750,000 in pre-float financing. It plans to list on London capital markets in 2022.
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Harbour Energy PLC - North Sea-focused oil and gas - Expects annual output of 175,000 barrels of oil equivalent per day, in line with 170,000 and 180,000 range. For 2022, output between 195,000 and 210,000 Boepd expected, with midpoint representing a 16% hike from 2021. Expects capital expenditure of USD1.3 billion. Eyes "materially higher free cash flow at current commodity prices, supported by increased production" in 2022. Medium term outlook, taking it to 2024, also forecasts USD1.3 billion in annual capex, as well as USD200 million in yearly shareholder distributions. There is "potential" to be debt free by 2025.
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Plutus PowerGen PLC - cash shell - Signs deal to acquire 61% interest in Mindouli copper and polymetallic project in Republic of the Congo. Plutus strikes deal to acquire Mayflower Copper Ltd. Mayflower has secured rights to 61% stake in Mindouli from current Chinese shareholders. Mayflower makes USD1.0 million upfront payment to secure interest, with further USD2.0 million on completion.
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Dekel Agri-Vision PLC - West Africa-focused agriculture company - Crude palm oil output in November up 74% annually to 2,669 tonnes. Sales up 21% to 1,837 tonnes. "CPO prices remain strong with average prices achieved in November 2021 of EUR956, an uplift of 44% compared to November 2020," company says. "Dekel is currently on track to deliver a record year of annual revenue for the palm oil operation," it adds.
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Apollon Formularies PLC - London-based medical cannabis pharmaceutical firm - Says International Cancer & Chronic Pain Institute opens and welcomes first cancer patients to be treated with Apollon proprietary medical cannabis products.
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Redx Pharma PLC - Cheshire-based cancer and fibrosis drug developer - Set to receive USD10 million milestone payment from Jazz Pharmaceuticals as a result of entering second year of oncology research collaboration with Redx. "We are extremely pleased to extend our productive oncology research collaboration with Jazz into its second year. This is based on advancing our programmes in this key signalling pathway and reflects Redx's core strength in discovering highly targeted potential drug candidates. We look forward to further progress in partnership with Jazz," CEO Lisa Anson says.
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Volution Group PLC - Crawley, West Sussex-based designer and manufacturer of energy efficient indoor air quality products - Says revenue in four months to November 30 up 15% year-on-year to GBP104.0 million. "Industry wide there has been an unprecedented period of supply chain disruption over the last twelve months. Our strategy of intentionally building, and now holding higher levels of inventory on key, long lead-time components, has enabled us to alleviate much of this disruption and we are delivering good levels of customer service in all three of our geographic regions," Volution says. "The board is pleased with the start to the new financial year and our ability to maintain operating margins in the face of considerable cost inflation."
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Directa Plus PLC - graphene nanoplatelets supplier - Plans to raise GBP7.0 million in placing and subscription of 4.7 million shares at 150 pence each. "The fundraising will enable the company to accelerate that progress by providing funds for investment in what the board considers to be exciting opportunities. We look forward to beginning the next phase of growth," Non-Exec Chair Peter Middleton says.
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Fox Marble Holdings PLC - London-based quarrying, stone processing and dimension stone marketing company - Issues 38.5 million shares at 1.3p each, raising GBP500,000 in total. Fox Marble says: "Over the last six months the company has witnessed an uplift in demand for its cut and polished marble, some of which has already translated into firm orders. Accordingly, the company has elected to raise funds to acquire additional machinery and working capital to meet this increased demand. This expanded capacity is also expected to enable the company to enter into additional contracts with new customers over the coming months."
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Bango PLC - Cambridge-based mobile commerce company - Announces strategic partnership with mobile growth and monetisation platform Digital Turbine Inc. Tie-up aimed at developing "more secure payment options for their end users". Bango says: "The multiyear, global agreement commercially launches in the first quarter of 2022."
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Eagle Eye Solutions Group PLC - London-based marketing solutions provider - "Powers" coffee chain Pret A Manger's new trial loyalty scheme. "This innovative loyalty beta programme builds upon the success of Pret's Coffee Subscription scheme and utilises more of the features and capabilities of the AIR platform. Pret Perks is currently available to Pret Coffee Subscribers during this trial phase with aims to roll out further," Eagle Eye says.
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Tekcapital PLC - London-based intellectual property investor focused on universities - Says investee MicroSalt Inc's SaltMe! crisps range roll out at Kroger, a US supermarket, expanded to 1,800 stores from previous 800. "The roll-out is expected to begin in February 2022," Tekcapital says.
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Gresham House PLC - asset manager - Expects to "significantly outperform market expectations" amid conclusion of international forestry transaction. Expects assets under management of GBP6.0 billion, up 50% since end of last year. "It is extremely pleasing to see the strength of Gresham House's asset classes and ESG-focused investments continuing to deliver excellent investment performance and contributing to clear progress towards our GH25 ambitions," CEO Tony Dalwood says.
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Fair Oaks Income Ltd - Guernsey-based closed-ended investor in collateralised loan obligations - Enters into deal to acquire EUR28 million notional of equity notes in Fair Oaks Loan Funding IV, collateralised loan obligations backed by a portfolio of secured loans in Europe. "The manager of this CLO's portfolio is Fair Oaks Capital Limited, the investment advisor to the company and Master Fund II," Fair Oaks Income adds. "This CLO's current target portfolio has a principal value of EUR400 million across an expected 136 unique bank loan issuers, with an expected weighted average exposure per issuer of approximately 0.71%."
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Digital 9 Infrastructure PLC - digital infrastructure assets investor managed by Triple Point Investment Management LLP - Seals buy of data centre asset and subsea fibre landing station, SeaEdge UK1 for GBP15 million. SeaEdge is based in Newcastle. "The asset forms part of the Company's pipeline identified in the IPO prospectus and delivers on the company's landing station data centre strategy," Digital 9 says.
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CIP Merchant Capital Ltd - Guernsey-based investment company - Sells interest in Vertu Motors PLC, raising GBP1.0 million, resulting in net profit of GBP400,000.
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Vertu Motors PLC - Gateshead, England-based car dealership - Lifts outlook for year ending February 28. Expects adjusted pretax profit to be no less than GBP70 million, up from previous no less than GBP65 million forecast. "Group profitability in October and November 2021 continued to be delivered in excess of its business plan and also prior year levels. Shortfalls in the supply of both new and used vehicles in the UK have continued due to the ongoing dislocation in supply chains impacting global vehicle production. Nevertheless, new vehicle supply to the group in October and November was better than envisaged and was sold at enhanced margins," Vertu says.
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By Eric Cunha; ericcunha@alliancenews.com
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