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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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Eagle Eye Solutions Group PLC - London-based marketing solutions provider - Untie Nots personalised promotions business wins multi-year contract with retailer NTUC FairPrice Co-Operative Ltd, part of Singapore's FairPrice Group. "FairPrice has selected Untie Nots to deliver loyalty challenges within its existing Linkpoints loyalty programme. Introduced via Eagle Eye, this is the first win for the group in Singapore, demonstrating the benefit to Untie Nots of Eagle Eye's international marketing reach, and the speed of the sales cycle for the Untie Nots offering," Eagle Eye says. "This new contract is testimony to the benefit of Eagle Eye's investment into international expansion and the initial marketing activities being carried out with Untie Nots, which are building a promising international sales pipeline."
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EnQuest PLC - London-based energy company with assets in the UK and Malaysia - Awarded UK carbon storage licences by North Sea Transition Authority. "The successful licence offers are within application areas known as Northern North Sea 1 and Northern North Sea 2. These are some 99 miles northeast of Shetland and include fields currently operated by EnQuest, the Magnus and Thistle fields, as well as the non-operated Tern and Eider fields," EnQuest says.
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European Metals Holdings Ltd - Mineral exploration and development company focused on Cinovec lithium-tin project in Czech Republic - Czech Republic Prime Minister Petr Fiala visits Cinovec project and later on social media hails lithium as "critical and key raw material". "Cinovec is the largest European deposit of this raw material. Thanks to this, the Czech Republic has a unique opportunity to contribute to both its own and European raw material security," Fiala wrote on Twitter. Fiala adds: "I believe that this memorandum will help our cooperation on the development of the lithium deposit in Cinovec and, in the future, the creation of the entire production chain for the production of batteries for cars."
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abrdn Japan Investment Trust plc - investor in listed Japanese companies - Says terms agreed for proposed combination of assets with Nippon Active Value Fund PLC. "The proposal follows an extensive review by the board of various investment strategies in the Japan fund sector. The board believes this review demonstrated that the case for taking advantage of recent corporate governance changes in Japan remains compelling, particularly at the small cap end of the market, where NAVF has performed strongly," abrdn Japan says. Nippon notes the transaction will occur through scheme of reconstruction, resulting in voluntary liquidation of AJIT. AJIT shareholders will receive new NAVF stock, though investors will be offered cash exit for up to 25% of AJIT shares in issue. In addition, NAVF plans to move to premium listing of Main Market of London Stock Exchange. This will "improve the access of retail investors to the enlarged company and therefore its share rating and liquidity", it says. NAVF also adds that its investment policy may be altered.
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Tanfield Group PLC - investment firm - Says investee Snorkel achieves sales of USD168.8 million in 2022, rising 8.9% from USD155.0 million in 2021. However, loss before interest, tax, depreciation and amortisation widens to USD13.8 million from USD9.6 million as margins come under pressure. In first quarter of 2023, sales rise 4.4% to USD43.5 million. Achieves Ebitda of USD200,000, swinging from loss of USD3.5 million year-on-year. Tanfield has 49% stake in aerial work platform Snorkel.
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By Eric Cunha, Alliance News news editor
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