Faron Pharmaceuticals Share News (FARN)

(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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Diaceutics PLC - Belfast-based testing laboratories company - Signs two enterprise-level, multi-disease data engagements with two pharmaceutical companies with a combined value of USD7 million over a two-year period. Says that the agreements are for its subscription data services. Reports that revenue in 2022 increased 44% to GBP20.0 million from GBP13.9 million in 2021. Adds that revenue is materially ahead of market expectations. Expects earnings before interest, tax, depreciation, and amortization to be in line with market expectations, with an with Ebitda margin similar to 2021. Attributes growth to demand from its pharmaceutical and life science customers.

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ICG-Longbow Senior Secured UK Property Debt Investments Ltd - Resolves to return 5.50 pence per ordinary share to shareholders, being GBP6.7 million in total based on the current number of ordinary shares in issue.

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Ilika PLC - Hampshire, England-based solid-state battery technology provider - Reports that it is leading a 24-month GBP8.2 million Faraday Battery Challenge collaboration programme "to integrate high silicon content electrodes into its Goliath solid-state batteries to enable automotive level performance". Adds that it will receive a GBP2.8 million grant over the 24-month programme.

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Mercia Asset Management PLC - Warwickshire, England-based, regionally-focused asset manager - Says that the final payment of GBP2.1million in relation to its acquisition of a venture capital trust fund management business from NVM Private Equity LLP has become payable. Plans to pay through the issue of 6.5 million new deferred consideration shares at 32.45p each. Expects the deferred consideration shares to start trading on AIM on January 31.

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Time Out Group PLC - media and hospitality business - Signs a lease deal with Klepierre Real Estate Espana SLU to open market in Barcelona in the first half of 2024. Says that Time Out Market Barcelona will be located in the Maremagnum shopping and leisure destination in the Port Vell, across 56,500 square feet. Says that this opening increases the line-up of new sites to eight markets in development which are set to open between 2023 and 2027. Does not disclose any details about the lease. "Barcelona is globally regarded as one of the top food destinations in the world and is a perfect fit for our brand. We are excited to bring Time Out Market to this fabulous, vibrant city together with our partners Klepierre and Estrella Damm. We now have an incredibly strong line-up of new Markets that will open in the next few years and with interest from landlords and real estate developers stronger than ever, we expect to further accelerate the signing of new Markets in the year ahead," Co-CEO Jay Coldren says.

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Faron Pharmaceuticals Ltd - Turku, Finland-based biopharmaceutical drug discovery and development company - Proposes a private placing to raise EUR11.0 million through an accelerated book-building directed at institutional and other investors. Adds that the subscription price per placing share is to be determined on the basis of the bids received in the bookbuild in euros. Says the Finland Branch of Carnegie Investment Bank AB is acting as sole bookrunner and lead manager in the placing.

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By Abby Amoakuh, Alliance News reporter

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