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Pin to quick picksEthernity Net Share News (ENET)

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TRADING UPDATES: YouGov notes resilient results; Pendragon ups outlook

Fri, 30th Jul 2021 15:26

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

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YouGov PLC - London-based research data and analytics group - Reports "resilient" results, supported by strong sales in the second half of financial 2021. Expects full-year results in line with management expectations. Says underlying growth in revenue and profit across all divisions and regions. Notes fast project turnaround and good performance for its Data Services segment in the second half. Says it is confident entering the new financial year with a buoyant sales pipeline. Begins operations in Brazil and acquires research and data insights companies in Turkey, Australia and Canada to widen geographical reach.

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Pendragon PLC - car dealer and operator of Evans Halshaw and Quickco brands - Raises underlying pretax profit outlook to between GBP55 million and GBP60 million for 2021. Says momentum in the used car market through June continued into July, with industry wide supply constraints leading to exceptional gross profits per unit. Says that, combined with good levels of demand, these factors led its business to exceed management expectations. Strong first half reduces net debt for net cash of GBP9.5 million on June 30, up from net debt of GBP46.0 million at the same point in 2020.

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Shepherd Neame Ltd - Faversham, Kent-based brewer and pub chain - Expects to report a loss for the financial year ended June 26, despite performing well since trade resumed on April 12. Says demand took a "step up" since indoor trading restarted on May 17. In the 11 weeks ended June 26, revenue reached 84% of its pre-Covid level in 2019, while total retail sales came 60% of 2019 levels. Says its tenanted pubs have achieved volume at 77% of 2019 level in the same period. Notes that the closure of 15 central London pubs negatively impacted overall sales. Says the majority of these central London pubs have reopened since lockdown ended in England on July 19.

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Semper Fortis Esports PLC - Sheffield-based e-sports team owner and technology provider - Reports a pretax loss of GBP626,173 from the period of incorporation on January 14, 2020 to the year end on January 31. Notes no revenue, as expected. Says the pandemic has accelerated growth and popularity of e-sports and gaming. Notes AQSE listing that raised GBP2.6 million in oversubscribed placing and subscription for 255.5 million new ordinary shares. Has begun to implement business plan post-period end.

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Hornby PLC - Margate, England-based model railway brand - Acquires remaining 51% stake in LCD Enterprises Ltd, which it now owns in full. Pays GBP1.3 million consideration for LCD with cash in the bank. Says the acquisition includes LCD's inventories, assets and liabilities including a GBP600,000 loan to Lyndon Davies, due to be settled upon completion of the acquisition. Notes that LCD holds majority interests in the Oxford Diecast Group, which supplies diecast scale-model vehicles and railway products to the collector, gift and hobby markets in the UK, Hong Kong and North America.

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Aura Energy Ltd - Australia-based minerals company - Continues the fast-tracked development of its zero emission Tiris uranium project in Mauritania to facilitate near-term production. Progresses corporate transaction for its gold assets at its full-owned Tasiast South gold project, also in Mauritania. Progresses towards meeting the required expenditure to relist on the Australian Securities Exchange. Plans to complete a rights issue for eligible shareholders one months after prospective relisting. Intends to offer one loyalty option rights issue for every three shares held Says the loyalty options have an upfront payment of USD0.013 each, an exercise price of USD0.05 and expire on June 30, 2024.

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Ethernity Networks Ltd - Networking and security solutions provider based in Israel - Wins new contract worth USD930,000 to supply its UEP-60 product to an international wireless connectivity vendor. Notes potential for significant follow-on orders and wider product offerings to its client. Says this is its second major 5G system contract, following successful contract with Indian OEM.

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Proton Motor Power Systems PLC - Munich-based producer of hydrogen fuel cells and electric hybrid systems - Receives initial order from Electra Commercial Vehicles Ltd for a fuel cell HyRange system. Says the system will used in a functional prototype of a zero emission electric refuse collection truck. States that a combination of hydrogen storage and a battery system will allow the truck to remain in almost continuous operation all day. As previously noted, expects five follow up vehicles to follow the prototype truck.

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AssetCo PLC - Asset and wealth manager based in Monmouthshire, Wales - Completes acquisition of Saracen Fund Managers Ltd for total consideration of GBP2.8 million. Says the cost was covered by the issue of 166,904 new ordinary shares priced at 10p each fully paid plus GBP664,774 in cash. "Our aim is to grow the business through marketing its existing funds and, over time, broadening its product range to meet the evolving needs of investors," says AssetCo's chief executive and deputy chair Peter McKellar. Follows acquisition of effective 63% equity interest in ETF Rize Ltd from J&E Davy Holdings on Tuesday.

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Tufton Oceanic Assets Ltd - London-based maritime assets investor - Launches tap issue of shares priced at USD1.18 each, which could include up to 10.5 million shares. Says the final number of shares to be included in the issue will be determined by the company and the joint bookrunners - Hudnall Capital LLP and Singer Capital Markets - following close of the issue and announced shortly thereafter. Expects tap issue to close around August 6. Adds that the issue price represents a 2.1% discount to its closing share price of USD1.205 on July 29.

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By Scarlett Butler; scarlettbutler@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Ethernity shares crash as subscription settlement continues

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Receives settlement notice for USD90,000 from 5G Innovation Leaders Fund LLC pursuant to share subscription agreement announced in late February. Says 5G Innovation is entitled to issue settlement notices under the agreement despite notifying Ethernity of an event of default and despite Ethernity's ongoing temporary suspension of proceedings. A court in the Israeli city of Lod granted the suspension order on Monday last week, and a settlement manager was appointed to review Ethernity's short-term budget.

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16 Oct 2023 16:13

Ethernity Networks shares fall as suspension lifted

(Alliance News) - Ethernity Networks Ltd shares fell on Monday, after the suspension on its shares was lifted after just two business days.

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12 Oct 2023 14:39

IN BRIEF: Ethernity suspended from AIM after "challenging" months

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Announces application to court in Tel Aviv for a temporary suspension of proceedings order and to convene a meeting of creditors. Also announces temporary suspension of shares from trading on AIM, effective Thursday. Says it has faced significant challenges in recent months, including "a significant and unexpected increase in cost and lead-times" of essential components, following a global shortage caused by Covid-19. Several customers also have experienced pandemic-related financial difficulties, making it harder for Ethernity to collect outstanding debts. Ethernity also believes two long-term customers have been violating usage of a licence "for several years" and says it "will be taking steps to claim against this infringement". Says its current cash balance is approximately USD107,000.

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20 Sep 2023 14:27

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14 Sep 2023 13:57

IN BRIEF: Ethernity Networks extends share issue date in subscription

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Says current outstanding balance under the share subscription agreement with investor 5G Innovation Leaders Fund is USD1.4 million. Extends the date by which 5G Innovation can request Ethernity shares to be issued until March 3 next year. All other terms remain unchanged and as announced in late February.

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31 Aug 2023 14:14

IN BRIEF: Ethernity to move New York shares to Pink Open Market

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Shares will cease trading on the OTCQB Venture Market in New York from Friday, instead trading on the Pink Open Market operated by OTC Markets, also in New York. Says primary listing will remain on AIM in London. Ethernity shares were admitted to trading on OTCQB in September last year, with the company saying it decided to transfer to the Pink Open Market "due to the absence of perceived benefits for Ethernity's shareholders from the OTCQB listing, and the excessive resources it entailed". Says US-based shareholders will, via trading on the Pink Open Market, continue to have access to a platform for trading Ethernity shares.

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9 Aug 2023 12:16

IN BRIEF: Ethernity Networks hails progress on delayed contracts

Ethernity Networks Ltd - Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances - Provides an update on two contracts previously announced in October 2021, for a wireless backhaul solution, and November 2022, for a broadband wireless access solution. Contracts have a combined value of USD740,000. Company has experienced delays with these contracts, with the customers unable to deliver the required hardware to the company. Says it has now been notified by the two customers that they intend to deliver their prototype hardware during the final quarter of 2023. Once delivery of the hardware has taken place, the company will be able to complete the contracts and invoice for the remaining balance of USD550,000. Contracts are now expected to be fulfilled during the final quarter of 2023 and the first quarter of 2024.

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