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TRADING UPDATES: LPA Group wins contract; Good Energy trades in line

Tue, 22nd Jun 2021 18:02

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



LPA Group PLC - Cambridge, England-based electronic connector manufacturing company - Wins contract to supply 165 new build carriages with LED lighting systems, for the UK's East Midlands Railway Aurora InterCity Fleet. Manufacture of the trainsets will be from Hitachi's UK Newton Aycliffe site.



Good Energy Group PLC - Chippenham, England-based energy firm - Says performance in the year to date has been in line with management expectations, showing an improvement compared to the prior year, which was hurt by Covid, including the first national lockdown. Both electricity and gas volumes are higher year-on-year, benefitting from a colder than usual spring. Going forward, the company says it continues to invest in the development of energy services propositions and a range of innovation projects to drive future profit growth.



Surgical Innovations Group PLC - Leeds, England-based surgery devices manufacturer - Reports optimistic signs of recovery as a number of key healthcare markets begin to resume elective surgery at close to pre-covid levels. The company says its revenue in the first five months of 2021 achieving at least 80% of that for the comparable period in 2019, over 50% up on the comparable period in 2020. Surgical Innovations says revenue at this level is sufficient to enable the company to currently operate at adjusted earnings before interest, taxes, depreciation and amortisation break even and operationally cash neutral.



Frenkel Topping Group PLC - Manchester, England-based investment advice company - Reports "strong and resilient" performance in 2020, against the challenging market back drop which Covid-19 presented. This performance was underpinned by the continued implementation of the company's organic growth strategy. Revenue and pretax profit in the financial year increased by 19% and 25% to GBP10.2 million and GBP1.5 million, respectively. "The board reiterates its confidence in the full year outturn and that it continues to trade in line with management expectations," says Chief Executive Richard Fraser.



OPG Power Ventures PLC - engaged in maintenance of private sector power projects in India - Reports total generation, including deemed, of 2.11 billion units for the financial year to March 31, down from 2.72 billion units the year before, primarily due to the Covid-19 induced nationwide lockdown in India. Plant load factor was 58% compared with 75% the year prior. Despite that, Chair Arvind Gupta said: "We expect to meet the market expectations for our FY21 pretax profit and cash generation."



Capital Metals PLC - London-based mineral sands explorer - Says management remains focused on final permitting steps and grant of mining licence for the Eastern Minerals project in Sri Lanka, with first production targeted for the first half of 2022. Drill programme planned for the third quarter of 2021 for infill and step out drilling.



Sativa Wellness Group Inc - Vancouver, Canada-based wellness company - Opens its 40th clinic, and that it is also expected to list shortly through Patient Access. The listing approval on Patient Access, a National Health Service numbering 12 million registered users, is expected to boost customer numbers even further. "Second-quarter revenue is very strong. Sativa has much to look forward to as restricted international travel remains reliant on PCR testing and blood testing for vaccine validation comes on stream," says Executive Chair Geremy Thomas.



Inspiration Healthcare Group PLC - Crawley, England-based medical technology firm - Says the first patient has been recruited at the Trevor Mann Baby Unit, Brighton & Sussex University Hospital for project WAVE, the newly developed respiratory device designed by Inspiration Healthcare for use in neonatal intensive care. The project was granted a patent by the US Patent Office in March 2020. "The first patient to be recruited on the trial is a real milestone for us and we eagerly await to see how the trial progresses," says CEO Neil Campbell.



Panthera Resources PLC - company which focuses on gold projects in India and West Africa - Says drilling commences at the Bassala project in Mali for a planned 9,000 metre air-core and reverse circulation drilling programme. The company says assay results are expected from quarter three of 2021. "The exploration activity at Bassala has identified several, well-defined chargeability highs, over extensive zones, which are often associated with gold in soil anomalies and/or artisanal mining activity," notes Managing Director Mark Bolton.



Xtract Resources PLC - London-based miner with operations in Australia - Receives laboratory assays from the final two drill holes completed on the phase one diamond drilling programme at the Racecourse Mineral Resource on the Bushranger copper-gold exploration project, located in the Lachlan Fold Belt of New South Wales, Australia. The company says the results confirm the that the racecourse copper mineralisation increases in width towards the northwest beyond the existing inferred mineral resource. "The geochemical analyses from phase 1, together with the very encouraging geophysics results will greatly assist the planning for the phase 2 drilling programme, which is expected to commence early in the third quarter of 2021. We now await results of the open pit modelling based on current drilling in order to ascertain the potential size of the pit," says Executive Chair Colin Bird.



Sure Ventures PLC - London-based investment firm - notes VR Education Holdings PLC - Irish software firm - Reports the planned development of a new fully featured corporate metaverse. The metaverse is the next evolution of the Group's proprietary VR software platform, Engage. The project is called 'Egage Oasis; with the launch expected in the first quarter of 2022.



Edenville Energy PLC - thermal coal developer in Tanzania - Repays in cash the full outstanding amount of USD373,625 owing to Lind Partners LLC under the funding agreement dated November 2018, following the company's recent GBP2.5 million capital raise. The company says it has no further outstanding obligations to Lind.



Trackwise Designs PLC - Tewkesbury, England-based company which produces products using circuit technology - Reports an extension and amendment to the product manufacture & supply agreement with an undisclosed UK manufacturer of electric vehicles, originally announced in September 2020. Further to a change in the needs of the customer, the term of the agreement has been extended from three to four years, with a significant increase in expected volumes and potential value. Trackwise Designs says first material revenue from the contract are now expected in the first half of 2022 rather than 2021.



Touchstone Exploration Inc - Calgary, Canada-based oil and gas company - Executes ten-year lease operatorship agreements with Heritage Petroleum Co Ltd for its CO-1, CO-2, WD-4 and WD-8 blocks effective from the start of 2021. "The new arrangements present an opportunity for us to drill additional wells in the second half of 2021, with the expectation that any increase in production will decrease overall royalties under the revised fiscal structure. We have budgeted to drill four wells on the blocks prior to the end of the year at an average cost of USD1 million per well and expect to utilize the new drilling equipment that we have contracted onto the island to perform the drilling operations," says President & CEO Paul Baay.



Oakley Capital Investments Ltd - investment company - Says Oakley Capital Private Equity III2 has agreed to invest in Primavera Business Software Solutions, the Portuguese management software provider. Oakley says its indirect contribution via its fund will be GBP11 million.



eEnergy Group PLC - energy efficiency as a service provider - Enters into various agreements with the other existing shareholders of eEnergy Insights Ltd and the company itself. The agreements follow the original investment made on April 19 and will increase eEnergy's equity interest in eEnergy Insights to 38% from 33% and the company will become the exclusive distribution partner, with the potential to increase its interest to 100% over time.



Mineral & Financial Investments Ltd - investment company - Receives a USD1.0 million payment as part of the earn-in agreement it has with Ascendant Resources Ltd - Toronto-based mining company. "Ascendant Resources have been an outstanding partner meeting every payment and significantly expanding the projects size and scope during a challenging time globally. We continue to believe that this project will grow from its current size," says MIneral & Financial CEO & President Jacques Vaillancourt. The payment is part of earn-in agreement in Redcorp Empreedimentos Mineiros Lda and its 25 million tonnes volcanic massive sulphide polymetallic zinc-lead-copper-silver-gold Lagoa Salgada deposit located in south central Portugal.



Avation PLC - Singapore-based passenger aircraft leasing company - Agrees with Avions de Transport Regional to amend and reschedule its long term orderbook for ATR 72 series aircraft. Avation previously had eight ATR 72-600 aircraft on firm order from Avions. Both companies agreed to modify the orderbook. Following this amendment Avation holds firm orders for two ATR 72-600 aircraft and purchase rights for 28 additional aircraft. Delivery dates for the two remaining ordered aircraft have been rescheduled to the fourth quarter of 2022. All purchase rights have been extended and are available for aircraft with delivery dates on or prior to the end of June 2027.



FastForward Innovations Ltd - Guernsey-based investment company - Says its portfolio company Little Green Pharma Ltd buys a fully operational GACP cultivation and GMP licensed medicinal cannabis asset in Denmark with the capacity to produce in excess of 20 tonnes of biomass per annum including 12 tonnes per annum of dried cannabis flower. Little Green Pharma acquired the facility for CAD20 million, about GBP11.6 million, with 50% to be paid on completion and 50% payable in 12 months' time.



By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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