Our live Investing Matters Podcast Special which took place at the Master Investor Show discussing 'How undervalued is the UK stock market?', has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksDRIP.L Share News (DRIP)

  • There is currently no data for DRIP

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

TRADING UPDATES: Drum Income to launch review; RBG's Convex grows fees

Fri, 05th Mar 2021 12:00

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

----------

Drum Income Plus REIT PLC - real estate investment trust - Says property portfolio continues to perform well with group collecting over 90% of rent due since the beginning of the pandemic, but it needs to consider the future. "Whilst the UK commercial property market and the group's portfolio continue to face challenges, the recent progress in the vaccine roll-out and the anticipated lifting of the current lockdown does give reason for optimism and the board and the investment manager expect to see returns on commercial property continue to improve," company says. However, since the company's launch in 2015, it has failed to reach a scale that makes its shares attractive to a wider group of investors, it says. This has created challenges in generating "any meaningful liquidity" in the shares and they continue to trade at a significant discount to their net asset value. As such, the company will be undertaking a strategic review, including the option to realise its property portfolio. Shares rise 29% on Friday.

----------

RBG Holdings PLC - London-based law firm - Says its specialist sell-side corporate finance boutique Convex Capital has continued to convert its strong pipeline into completed transactions. Further to its February update, Convex Capital has concluded another deal, earning a fee of GBP1.5 million. This brings the total number of completed transactions to four since the start of 2021, resulting in year-to-date total fee income of GBP2.6 million. "This represents a notable improvement in successful conversion, having completed only two deals, which generated total revenue of GBP1.5 million in 2020 because of the disruption caused by the pandemic," firm notes.

----------

GSTechnologies Ltd - Milton Keynes, England-based provider of wireless, electronic cabling, security, and other services to clients in infrastructure development - Says remains focused on operating a profitable information and communications technology business, and this include seeking to enable and enhance the current Internet of Things and ICT offerings through the application of "new highly scalable disruptive technologies". While it remains focused on developing existing business of its wholly owned subsidiary EMS Wiring Systems, its goal is to also focus on new higher growth synergistic business areas focussed on blockchain technology, particularly those applicable in the banking and wider financial services sector. "The board believes that pioneering next-generation digital money solutions based on blockchain technology will provide the company with the opportunity to enhance its current offering and enable it to offer differentiated cutting edge technology solutions to a bigger client base," GSTechnologies says.

----------

SDCL Energy Efficiency Income Trust PLC - London-based investor in energy efficiency, solar, and electric vehicle charging infrastructure projects - Signs framework agreements with two preferred development partners providing it with the right to invest in a series of energy efficiency assets in the UK and the US. One agreement is with BasePower Ltd, a developer and operator of on-site energy projects in the UK, and under the framework BasePower will manage development, construction and operations of the projects with the pipeline around 37 megawatts and expected to involve an investment of GBP10 million per year over the next five years. Second agreement is with Sparkfund, an existing developer relationship in the US. Under new agreement, SEEIT would re-finance a new portfolio of projects at construction completion over the next 12 months, with investment expected to involve projects totalling approximately USD20 million.

----------

Touchstone Exploration Inc - onshore projects in Trinidad & Tobago - Says year-end 3P net reserves more than triple to 100.2 million barrels of oil equivalent, while 2P net reserves nearly triple at 64.9 million barrels and 1P net reserves also nearly triple to 34.2 million barrels from the prior year. "Our year-end 2020 reserves evaluation provides further independent confirmation of the significant opportunities that the company has in place from our Trinidad assets. Our 1P reserves are now significantly higher than our 3P reserves at the same time last year, providing greater operational and financial certainty for investors, and exclude any potential reserves from the recently drilled Chinook-1 well or Cascadura Deep-1 wells," says President & Chief Executive Paul Baay. Adds that it has tested two identified pay zones in the Chinook-1 well, with both zones encountering potential upside in the form of light sweet crude oil. One pay zone is currently being configured for an extended production test.

----------

Rockhopper Exploration PLC - oil & gas company with interests in the North Falkland Basin and Greater Mediterranean regions - Says that, following discussions between the joint venture partners, Harbour Energy and the Falkland Islands government, the government has agreed to extend each of Rockhopper's North Falkland Basin Petroleum Licences, including the Sea Lion Discovery Area, until November 1, 2020, with no additional licence commitments. The licences were previously due to expire on May 1 this year. "The proposed merger of Premier Oil and Chrysaor to create Harbour Energy brings a financially stronger operator to the project. This, combined with the proposed entry of Navitas Petroleum to Sea Lion, creates a solid operational and financial foundation giving the project the strongest possible chance of progressing," says Rockhopper.

----------

Trans-Siberian Gold PLC - gold producer in Russia - Says that following accident announced in January, it has been granted full permitting approvals to resume mining operations at Vein 25 in the East Zone of the Asacha gold mine with immediate effect. Says during last two months, the main zone at the Asacha mine has remained fully operational and has provided sufficient feed ore for the processing plant to run at full capacity. The group traded profitably during this period and has a "robust" financial position with strong liquidity having achieved a positive net cash position of around USD2.7 million as at the start of this month.

----------

SDX Energy PLC - London-based oil & gas explorer - Receives final approval from the Egyptian authorities to extend the production services agreements governing its producing Meseda and Rabul oil fields in its West Gharib concession in Egypt until November 9, 2031. "We are very pleased to have secured this ten-year extension to the production services agreement which we estimate increases SDX's share of reserves in our core West Gharib oil asset, certified at 2.2 million barrels in our 31 December 2019 CPR, by 60%," says Chief Executive Mark Reid.

----------

Gunsynd PLC - London-based investment company focused on the natural resources sector - Says investee Rogue Baron PLC, a premium spirits company, is expected to be admitted to trading on the Access segment of the AQSE Growth Market on or around March 12. On admission, Gunsynd will hold 24.5 million shares in Rogue Baron, just over a 28% stake. Gunsynd will retain a balance of GBP111,464 of convertible loan notes consisting of accrued interest.

----------

Pensana PLC - mineral explorer that recently changed name from Pensana Rare Earths - Notes that the Humber has been awarded Freeport status as announced by UK Chancellor Rishi Sunak in Wednesday's budget. "The Humber is one of eight Freeports announced in the budget and houses the world-class Saltend Chemicals Park, managed by the pxGroup, where Pensana proposes to build its magnet metals separation facility," company says.

----------

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
1 Nov 2021 19:21

IN BRIEF: Custodian REIT gains Court sanction for Drum Income deal

IN BRIEF: Custodian REIT gains Court sanction for Drum Income deal

Read more
3 Sep 2021 17:51

IN BRIEF: Custodian REIT agrees all-share merger with Drum Income Plus

IN BRIEF: Custodian REIT agrees all-share merger with Drum Income Plus

Read more
1 Sep 2021 20:56

TRADING UPDATES: Sanderson Selfridges deal; Cazoo ups Forward Partners

TRADING UPDATES: Sanderson Selfridges deal; Cazoo ups Forward Partners

Read more
4 Aug 2021 13:13

IN BRIEF: Drum Income Plus in talks for possible takeover by Custodian

IN BRIEF: Drum Income Plus in talks for possible takeover by Custodian

Read more
4 Aug 2021 11:05

SMALL-CAP WINNERS & LOSERS: Drum Income down on Custodian tie-up talks

SMALL-CAP WINNERS & LOSERS: Drum Income down on Custodian tie-up talks

Read more
28 May 2021 11:59

TRADING UPDATES: Premier Miton hikes dividend; Petards loss slims

TRADING UPDATES: Premier Miton hikes dividend; Petards loss slims

Read more
11 Mar 2021 16:11

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
18 Jan 2021 11:55

Drum Income Plus REIT Net Assets Fall As Pandemic Hurts Performance

Drum Income Plus REIT Net Assets Fall As Pandemic Hurts Performance

Read more
10 Dec 2020 15:09

UK EXECUTIVE CHANGE SUMMARY: HL Senior Director Moves To Royal London

UK EXECUTIVE CHANGE SUMMARY: HL Senior Director Moves To Royal London

Read more
18 Jun 2020 14:35

Drum Income Plus REIT Net Assets Fall; Suspends Dividend Payment

Drum Income Plus REIT Net Assets Fall; Suspends Dividend Payment

Read more
29 Jan 2020 18:22

Drum Income Plus Net Asset Value Falls On Uncertainty

Drum Income Plus Net Asset Value Falls On Uncertainty

Read more
1 Aug 2019 18:58

DIRECTOR DEALINGS: Drum Income Non-Executive Buys Company Shares

(Alliance News) - Drum Income REIT PLC said on Thursday that Non-Executive Director Hugh Little purchased 50,000 shares in the company.In a transaction on Thursday, Little purchased the for

Read more
26 Jul 2019 17:18

Drum Income Declares Unchanged Dividend For Third Quarter

(Alliance News) - Drum Income Plus REIT PLC said on Friday that its dividend in respect to its third quarter was flat year-on-year.For the period ended June 30, the company said it will pay

Read more
4 Jun 2019 17:29

Drum Income Plus Chair Evans Leaves, Little Replaces; Hires Non-Exec

LONDON (Alliance News) - Drum Income Plus REIT PLC on Tuesday said Chair John Evans has retired with immediate effect, having served on the board since March 2015.Hugh Little, currently an

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.