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Pin to quick picksFaron Pharmaceuticals Share News (FARN)

Share Price Information for Faron Pharmaceuticals (FARN)

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Share Price: 185.00
Bid: 180.00
Ask: 190.00
Change: 7.50 (4.23%)
Spread: 10.00 (5.556%)
Open: 177.50
High: 185.00
Low: 177.50
Prev. Close: 177.50
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TRADING UPDATES: Wey takeover edges closer; Acorn in strategy switch

Mon, 17th May 2021 17:49

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

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Wey Education PLC - London-based online educational services firm - Says shareholders back takeover by Inspired Education Holdings Ltd. Now needs approval from court during hearing on May 24.

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Acorn Income Fund Ltd - Guernsey-based investment fund - Completes strategic review. Proposes appointing BMO Global Asset Management to manage company through an investment policy change. "Using its sustainable global equity income investment strategy, BMO will manage the company by investing principally in a global portfolio of publicly listed companies that offer an attractive level of income and make a positive impact on society and the environment," Acorn says. "The board believes that the proposed change in investment manager and the adoption of the sustainable global equity income investment strategy are in the best interests of shareholders and will position the company for a more sustainable, long-term future," Acorn adds. Proposals need shareholder backing at extraordinary general meeting, likely in August.

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Secure Property Development & Investment PLC - eastern Europe focused property investor - Says stage one of transfer of property assets, excluding Greek logistics, to Arcona Property Fund NV completed. Some Ukrainian and Bulgarian assets transferred in exchange for 593,534 new shares in Arcona and 144,264 warrants. Stage two progress hampered by Covid-19, Secure Property cautions. "However both SPDI and Arcona have now made it a priority to complete stage two as soon as feasible with the relevant sale and purchase agreements due to be signed in the near future. Stage two includes the remaining property assets in Ukraine and certain of SPDI's assets in Romania," Secure Property says. Also adds Romanian income generating assets "continue to experience no adverse revenue effects from the pandemic". "As previously disclosed, this is largely due to the assets being leased to companies active in defensive sectors such as food and telecoms, sectors where trade has seen little or no disruption," company adds.

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Cordiant Digital Infrastructure Ltd - investment firm focused on digital infrastructure assets - Launches placing of C shares, "to enable the company to complete acquisitions from its pipeline of potential digital infrastructure investments". Targets raising GBP250 million at placing price of 100 pence per share. "In addition to the C share placing, the company is in discussions with potential debt providers in relation to a revolving credit facility for the company to be used for the purposes of funding future acquisitions," Cordiant adds.

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Highbridge Tactical Credit Fund Ltd - credit investment fund - To return GBP14.7 million to shareholders, GBP0.83 per share, through compulsory redemption of ordinary shares of NPV.

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Murray International Trust PLC - global equities investment managed by Aberdeen Standard - Draws down GBP50 million senior unsecured loan note. Cash used to repay GBP50 million revolving credit facility with Royal Bank of Scotland International Ltd. "As previously advised, an additional GBP150 million will also be available for drawdown by the company under the new facility for a five year period, with the board's current intention to draw this down only to repay any of the company's existing debt," Murray International says.

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JZ Capital Partners Ltd - microcap-focused investment company - Enters into deal with senior lenders to amend terms of senior facility agreement. Maturity date extended by one year to June 12, 2022. Also enters into note purchase pact with David Zalaznick and John Jordan II, founders and principals of JZ Capital's investment adviser. Company will issue notes worth USD31.5 million with 6% annual interest. "The board believes that these updates significantly increase the company's ability to execute its new investment policy and, although the amended senior facility agreement comes at an increased interest cost, it is one that the board believes to be compensated by the additional time afforded to maximise the value of the company's portfolio," JZ Capital says.

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Kistos PLC - London-based energy sector investor - Says shares have recommenced trading on AIM following equity financing.

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i3 Energy PLC - oil & gas company with assets and operations in the UK and Canada - Restructures contract with General Electric Co unit Baker Hughes, allowing i3 to make intended dividend payment. Says remaining balance of equipment pact to be cancelled "without penalty". "For any dividend payments associated with i3's 2021 cash flow, the company will pay 10% of the value of such dividend payments to BHGE to a maximum of GBP229,000," i3 says. Before September 30, i3 will pay Baker Hughes a feee of GBP145,383.

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Cobra Resources PLC - London-based gold explorer - Updates on work at Wudinna gold project in Australia. Says fieldwork programme focused on 976 holes, "designed to de-risk the planned reverse circulation drilling programme", which is scheduled to begin in second half of 2021. Adds that 138 holes completed to date.

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Xtract Resources PLC - copper-gold projects in Australia, Mozambique and Zambia - Says induced polarisation geophysical survey has spotted potential extensions to Racecourse mineral resource located on Bushranger copper and gold project, Australia. "The survey indicates that the Racecourse mineral resource has the potential to extend in several directions, including at least 800 metres to the northwest beyond the limit of the currently defined mineral resource," Xtract says.

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Landore Resources Ltd - Canada-focused minerals explorer - Updates on drilling of BAM gold deposit, Canada. "Drilling below the BAM East defined pit has consistently intersected the deposit's typical lithology and mineralisation including the frequent sighting of visible gold," Landore says.

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Kefi Gold & Copper PLC - gold explorer in Ethiopia and Saudi Arabia - Notes press reports in Ethiopia in regard to Ethiopian Mines Ministry meeting held on Friday. During briefing, Kefi understands discussions were had in relation to "cancellation of licences awarded to 27 mining and exploration companies". Kefi says this included "an intention to issue warning letters to three other companies", one of which being Kefi unit Tulu Kapi Gold Mines. "Neither KEFI nor its subsidiaries, KEFI Minerals (Ethiopia) Ltd and Tulu Kapi Gold Mines Share Co, nor any of their associate companies, are aware of any breach of any licence conditions and have not received any such warning letter nor had notice of such an intended letter flagged to them formally or informally," Kefi adds. "The directors of KEFI believe they have an especially close working relationship with the Ethiopian government, which is a shareholder in TKGM at both the Federal and Oromia Regional levels."

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Caerus Mineral Resources PLC - exploration & resource development company focused on minerals in Europe to supply global clean energy drive - Says it has completed 24 of a planned 39 drill holes at its North Mathiatis copper-bearing waste stockpiles in Cyprus. Full completion of the programme expected by the end of May.

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Kodal Minerals PLC - miner developing project in southern Mali and Ivory Coast - Secures two oil rigs for Nielle project, Cote d'Ivoire. Says drilling to consist of 5,000 metres of aircore drilling set to begin with the week, and 1,000 metres of reverse circulation drilling.

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IOG PLC - gas production in UK southern North Sea - Awards contract for installation & pipeline operator to ODE Asset Management. "Working closely with IOG's in-house operations team, ODE AM will be responsible for delivering safe, efficient and cost-effective production operations from the JV's Phase 1 offshore infrastructure in the UK Southern North Sea, including the Blythe and Southwark platforms, the Thames Pipeline and the associated subsea connector lines," IOG says.

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Pantheon Resources PLC - oil & gas exploration company with assets in Alaska and Texas - Completes analysis of Basin Floor Fan Complex, which spans Theta West project and Talitha asset in Alaska. Says company P50 estimate shows 12.1 billion barrels of oil in place and 1.41 billion barrels of recoverable oil in the Basin Floor Fan Complex.

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Power Metal Resources PLC - metal exploration and development company - Says finalising results for six months ended March 31. Expects to report on interim results by end of May.

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Cambria Automobiles PLC - franchised motor retailer - Says "put-up or shut-up" deadline for potential takeover offer by Chief Executive Officer Mark Lavery, Finance Director James Mullins and Motor division Managing Director Tim Duckers extended to close of play on June 14. Initial deadline was Monday. "There can be no certainty that an offer will be made," Cambria adds.

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Faron Pharmaceuticals Oy - Turku, Finland-based biopharmaceuticals - Says data finds Bexmarilimab monotherapy increases survival in cancer patients with multiple advanced solid tumours. "These data demonstrate strong initial safety and tolerability, and promising anti-tumour activity in several refractory metastatic solid tumours - cutaneous melanoma, gastric cancer and cholangiocarcinoma - which helps us to determine in which cancer cohorts bexmarilimab offers the most promise," Chief Executive Officer Markku Jalkanen says.

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Global Ports Holding PLC - London-based cruise port operator - Signs five-year senior secured loan agreement with "international, institutional investor". Says funds will go towards refinancing the outstanding 8.125% senior unsecured notes due 2021 issued by subsidiary Global Liman Isletmeleri AS.

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PPHE Hotel Group Ltd - hotel owner and operator - Says free float slips marginally below required greater than 50% threshold for FTSE UK All-Share index inclusion. PPHE says: "The company estimates that its current free float as of the date of this announcement is approximately 47%. PPHE would like to express its continued efforts to, and focus on, satisfying the FTSE All-Share eligibility criteria and accordingly will review options available to achieve this."

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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