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Pin to quick picksGCM Resources Share News (GCM)

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Share Price: 7.25
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TRADING UPDATES: Ceres Power eyes move to Main Market by mid-2022

Wed, 17th Mar 2021 18:40

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



Ceres Power Holdings PLC - Horsham, West Sussex-based solid oxide fuel cell developer - Proposes placing and subscription to raise GBP180m million via PrimaryBid. Says the net proceeds will be used to accelerate its investment in the development and potential commercialisation of its solid-oxide electrolysis technology. This will help expand the company's presence in the green hydrogen production market. Intends to explore a move to the London Stock Exchange's Main Market by mid-2022.



Young & Co's Brewery PLC - London-based pub operator - Expects to reopen about 140 of its managed pubs with outdoor spaces on or around April 12, within the government guidelines. Says the rest of its managed estate should open on or around May 17 with restricted indoor trading. Says if this reopening schedule proceeds as planned, the company expects to deliver a positive cash flow in May. Will not be paying any dividend for the current financial year to end March. Says any dividends during the upcoming financial year will not exceed GBP5 million in aggregate.



GCM Resources PLC - mining and energy company focussed on the Phulbari coal and power project in north west Bangladesh - Says its development partners, have reaffirmed their commitment to progressing the project and have acknowledged that the global Covid-19 pandemic had impacted their ability to meet timelines over the past year. These partners include: China Nonferrous Metal Industry's Foreign Engineering and Construction Co Ltd and Power Construction Corp of China Ltd.



Empire Metals Ltd - London-based resource exploration and development company - Says next phase to start at Eclipse gold project, located 55 kilometres north-east of Kalgoorlie, Western Australia. Says this phase will allow the company to map out the path to an initial open pit operation, along with improved definition of possible extensions to resources and the scope for additional future open pits. The phase will see reverse circulation drilling work at Eclipse followed by the diamond drilling in early April.



4D Pharma PLC - Leeds-based live biotherapeutic products developer - Enters private share placement to raise USD24 million at USD1.53 each. Says the fundraising involves a broad range of institutional investors, strengthening our international investor base.



Puma VCT 13 PLC - venture capital trust - Exercises GBP2.5m over-allotment facility on October subscription offer for shares of GBP0.0005 each in the company to raise GBP7.5 million, with an over-allotment facility to raise up to a further GBP2.5 million. Says following strong demand for the offer, the directors of the company have decided to exercise the over-allotment facility. The maximum the company can raise has now increased to GBP10 million.



Serica Energy PLC - upstream oil & gas company - Spuds 23/16f-CDev1 development well at Columbus in UK North Sea. Says it plans to drill 23/16f-CDev1 development well to total depth of 17,600 feet. Expects production from Columbus in early fourth quarter of 2021. "I am delighted that drilling operations have commenced on the development well, which is a significant milestone for the company as Columbus is the first development project that Serica has undertaken as operator in the North Sea," says Chief Executive Mitch Flegg.



Canadian Overseas Petroleum Ltd - oil and gas company focused on Sub-Saharan Africa - Completes Atomic Oil and Gas LLC acquisition.



Altus Strategies PLC - Africa-focused mining royalty company - Announces the completion of a strategic review of high-grade Bikoula iron project in southern Cameroon. "We are pleased to report that independent consulting firm Mining Plus has completed a strategic economic review of the company's high grade Bikoula iron project in southern Cameroon. The project hosts a substantial colluvial iron weathered blanket, which rests above a primary iron deposit. The strategic review examined the processing, product specification and transportation options for Bikoula and will assist the company in advancing the project through next stages of development," Chief Executive Steven Poulton said.



Residential Secure Income PLC - investor in affordable shared ownership, retirement and local authority housing - Acquires 68 income-generating shared ownership homes from Metropolitan Thames Valley Housing, for a total consideration of GBP5.1 million. Says the properties, located in a modern development in Swindon, comprise 53 apartments and 15 houses, in low-rise brick buildings. The acquisition brings the company's total shared ownership portfolio to 358 homes and will be funded through its GBP300 million, 45-year debt facility that was put in place in July last year.



Fox Marble Holdings PLC - focused on marble quarrying and finishing in Kosovo and the Balkans region - Says Simon Nesbitt retained to act on its behalf in support of the ongoing case against. "The company and its advisors continue to strongly believe in the merits of Fox Marble's EUR195 million case against the Republic of Kosovo. We welcome the appointment of Mr Nesbitt QC to the legal team and look forward to the commencement of legal proceedings following the imminent nomination of the company's arbitration panellist," says Chief Executive Chris Gilbert. Fox Marble charges that the Kosovo government failed to protect Fox's rights over the Malesheve quarry, breaching its responsibilities toward foreign investors.



DeepVerge PLC - York, England-based environmental & life science AI company - Announces initial data for ongoing Phase III clinical studies on the detection of SARS-CoV-2 on breath samples and identification of confirmed Covid-19 positive patients. "DeepVerge scientists have transformed its AI based water contamination detection system, developed over five years for e.coli, into the breath condensate Microtox BT unit. Having successfully completed Phase I testing on the Spike Protein and Phase II studies with SARS-CoV-2 virus in the safety of CL3 laboratories, the initial results of Phase III real-world clinical studies in Covid-19 patients have reached a major milestone with the demonstration that our Microtox BT can deliver results in under 60 seconds from breath samples," says Chief Executive Gerard Brandon.



Hunters Property PLC - Yorkshire-based estate agent - Says court sanctions its takeover by Property Franchise. Reached agreement with Property Franchise in late January. Hunters has recommended the acquisition, which will be on the basis of 0.1655 Property Franchise shares plus 43.2 pence in cash for each Hunters share. The terms value each Hunters share at around 72.0p and the entire company at around GBP24.2 million.



By Greg Roxburgh; gregroxburgh@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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