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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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Workspace Group PLC - London-based provider of service offices - Prices its first green bond, a sterling-denominated senior unsecured guaranteed green bond issuance of GBP300 million and for a term of seven years. The bonds will bear interest at a rate of 2.25% per annum. "This follows a series of fixed income investor meetings which generated strong institutional demand," company adds. Following the issue of the bonds, the company's weighted average debt facility maturity will increase from 3.9 years to 4.9 years and its weighted average cost of debt will reduce to 3.6% on a pro forma basis.
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Pure Gold Mining Inc - Canadian gold miner - Say surface exploration drilling has intersected high grade gold mineralization located outside company's existing mineral resources at three distinct targets: Wedge, Treasure Box, and No 1 Vein. "The continued success of the ongoing surface exploration program is consistent with the company's objective of fuelling PureGold's future organic growth beyond the Phase 1 mine by discovering new zones and expanding upon known zones of high grade gold across the company's 47 square kilometre property," company adds.
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Arrow Global Group PLC - buyer of debt from banks, credit card companies and telecommunications businesses - Creates Clients & Capital Formation Group within its Arrow Capital Management business. "The Clients & Capital Formation Group will partner with Arrow's clients to provide differentiated investment solutions and world-class insights from Arrow's core areas of expertise in European non-performing and non-core debt," company explains. It adds: "The group will be responsible for setting Arrow's Capital Formation strategy and broadening the firm's investor set by enabling global capital pools to access the opportunities presented by the European NPL market through Arrow Capital Management." Appoints longtime Citigroup Inc insider Kamran Anwar to run new unit.
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Angle PLC - Guildford-based liquid biopsy company - US Food & Drug Administration asks for additional information for company's submission requesting De Novo clearance of the Parsortix PC1 system. "Receipt of an AIR was expected and is in line with typical De Novo clearance processes. Angle is confident of being able to provide a full response to all the information requests raised," company says. It says FDA indicates its review processes for non Covid-19 devices are currently slower than usual due to pandemic priorities. Company adds: "Some of the technical information requested necessitates some targeted additional analytical studies. However, these additional analytical studies do not require patient samples and Angle anticipates that the necessary studies, which are already at an advanced planning stage, can be completed and the response submitted by early May."
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Countrywide PLC - estate agent - Says UK High Court of Justice sanctions its acquisition by Connells. The court sanction follows UK Financial Conduct Authority approving the deal. Expects shares to cancelled on March 9. Countrywide at the end of 2020 agreed to an offer by Connells of 395 pence per share, valuing the company at GBP223.1 million.
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Futura Medical PLC - Surrey-based pharmaceutical company - Enters into certain financing transactions with HT Riverwood Multi-Growth Fund, a fund managed by Atlantis Investment Management Ltd, which provides the company with up to GBP2 million in cash. Notes GPB1.5 million of which has been received. Also, company enters licensing agreement with Pride Century Ventures, a special purpose vehicle owned by Co-High Investment Management Ltd for the rights to exclusively develop and commercialise the company's gel-based erectile dysfunction treatment MED3000, in China and South East Asia. Co-High will provide funding currently estimated to be up to GBP4 million for development and regulatory approval of MED3000 in the region and Futura will be entitled to 50% of regional profits.
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Frontier IP Group PLC - UK-based intellectual property commercialisation firm - Investee Exscientia Ltd completes USD100 million Series C funding round with BlackRock funds. As a result of the financing round, Frontier IP now holds a 2.1% equity stake in Exscientia. "Based on the group's overall trading for the year to date and the outlook for the remainder of the financial year, the board remains confident on the prospects for the year ended June 30 2021," company adds. Interim results, for six months to December 31, due on March 24.
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Empyrean Energy PLC - oil and gas explorer with interests in China, Indonesia and US - Notes it expects tax refund in the US of USD357,702 to be received during March. Its tax advisors recently submitted the company's federal tax return with the US Internal Revenue Service for financial year 2020, ended March 31.
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Crossword Cybersecurity PLC - Richmond, England-based cyber security and risk-focused technology commercialisation company - Says The IASME Consortium Ltd, the UK government cyber essentials partner, has selected Rizikon Assurance as the core platform to support a new counter fraud fundamentals certification which has received government funding. Rizikon Assurance, the company's leading product, is a SaaS platform that enables medium to large companies to assess and manage all risks from their suppliers. Chief Executive Tom Ilube says: "It is excellent news to be able to support IASME once again, with the roll out of another innovative certification programme. The Counter Fraud Fundamentals certification will help give customers confidence when choosing a provider, that they are well protected against fraud. Supporting this certification will also further strengthen our excellent relationship with IASME."
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UK Oil & Gas PLC - oil & gas exploration and production company based in London - Says appeal against Surrey County council's refusal of planning consent for the Loxley gas project, located in licence PEDL234, will now be heard at a public inquiry to commence on July 27, 2021. Recently lodged appeal with the planning inspectorate against Surrey County Council's decision in December to refuse planning consent for the Loxley gas appraisal project. Says leading counsel advises there are strong grounds to expect a positive appeal outcome as the council's cited reasons for refusal are in direct conflict with the advice of its professional planning and highway officers and their approval recommendations. Expects a decision by the end of 2021.
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Katoro Gold PLC - gold and nickel exploration and development company - Notes confirmatory metallurgical test work completed at Blyvoor gold tailings project and says "extremely pleased" with results. Tests were delayed due to pandemic. "The metallurgical test results, as expected, confirmed the findings of the CPR but also identified optimization opportunities related to metallurgical processing that could improve gold recoveries," company says. It adds: "Funding negotiations continued and progressed well in the interim and can now move towards finalization and conclusion, after receipt of the metallurgical test results confirming the positive findings of the CPR."
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Tower Resources PLC - Africa-focused oil and gas company - Extends loan facility of USD750,000. The Facility is provided by the company's shareholder Pegasus Petroleum Ltd whose ultimate beneficial owner is the company's chair & chief executive, Jeremy Asher, and was originally provided to the company as a bridging loan. The facility has now been extended to the end of November 2021, though the company hopes to repay it by July 15, 2021, in which case the cost of the extension will reflect the earlier repayment.
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Boston International Holdings PLC - special purpose acquisitions company - Terminates intended acquisition of Alexanders Discount Ltd, an invoice factoring company based in southeast England. It adds: "The company will continue its search for acquisition opportunities, as outlined in the company's prospectus published in October 2016. It is expected that the company's ordinary shares will resume trading on the Main Market of the London Stock Exchange in due course following consultation with the UK Financial Conduct Authority and completion of a fundraise. In the meantime, they remain suspended from trading."
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By Paul McGowan; paulmcgowan@alliancenews.com
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