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(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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Genel Energy PLC - London-based oil company focused on the Kurdistan region - Says on track to generate USD250 million of free cash flow this year. Says net production in first nine months of 2022 amounts to 30,350 barrels of oil per day. For third quarter alone, output totals 30,200 bopd, in line with guidance. Output guidance range of 30,000-31,000 bopd reiterated for 2022.
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abrdn Property Income Trust Ltd - commercial property investor - Says net asset value per share amounts to 106.1 pence at September 30 third-quarter end, down from 110.7p on June 30. Says portfolio valuation decreases by 4.2% on a like-for-like basis during quarter.
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Triple Point Social Housing REIT PLC - London-based real estate investment trust - Notes regulatory notice in relation to Highstone Housing Association. Supported housing sector provided Highstone has been under review and has been deemed "non-compliant with regards to elements of the governance and financial viability standard". Highstone represents 4.2% of firm's portfolio. "The group's investment manager, Triple Point Investment Management LLP has an established relationship with Highstone and is in regular dialogue with the housing association, particularly with regard to the regulatory review. The company notes that Highstone has committed to work with the regulator to address the issues outlined in this regulatory notice and had already implemented certain changes, prior to regulatory engagement," company adds.
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Semper Fortis Esports PLC - London-based professional e-sports team operator - Reaches deal to acquire new Rocket League roster for 2022/23 season. New acquisition enables company to expand into Middle East & North Africa region, on back of news that "Saudi Arabia would be making large investments into becoming a world hub for esports and was focused on growing its own booming gaming industry". Semper says on deal: "This is part of the company's strategy to operate up-and-coming esports teams on a lower cost base and to work with the players and teams in order to maximise their potential. The company has a track record of doing this with its previous Rocket League roster, who were developed into an established team, which led to the sale of one of the players for USD35,000."
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Neometals Ltd - London-based battery materials from upstream extraction and downstream processing - Reports "successful" commercial-scale smelting trials for Barrambie mineral concentrate. Barrambie is a titanium and vanadium project in Western Australia. "The ability to produce chloride-grade titanium slag from simple gravity concentrate from Barrambie is the key technical milestone for the next stage of project development. The results establish the potential value-in-use of MGC for negotiations with potential customers who seek quality feedstocks from low-risk jurisdictions that are amenable to simple and conventional processing pathways," Managing Director Chris Reed says.
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Amaroq Minerals Ltd - Greenland-focused gold mining company - Raises CAD17.4 million, about GBP11.4 million, from placing of 18.5 million shares in UK and 13.5 million in Canada.
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Mast Energy Developments PLC - London-based developer of reserve power generations plants - Enters into deals for provision of loan facility of up to GBP2.3 million, with total committed advance of GBP475,000. Loan has three-year length and is led by an institutional investor. "The loan and cash injection will assist MED to fast-track the development of its current portfolio of projects under development in order to get each project into production as soon as possible, and to increase MED's participation in and benefit of the current and ongoing unprecedent energy market prices," Chief Executive Pieter Krugel says.
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Wildcat Petroleum PLC - Company targeting investment opportunities in the upstream sector of the petroleum industry, namely the exploration, appraisal, development and production of oil and gas - Completes desktop study of deep-water blocks in offshore Sierra Leone with "petroleum potential". "The work confirmed our initial ideas regarding the good hydrocarbon potential of the deep offshore. The current situation is that much of the offshore has now been opened up to competitive bidding in a license round announced by the authorities on 18/5/22 - with a closing date which is now on 27 January 2023," company adds. "Since the licensing round is competitive, Wildcat won't be making any public announcements concerning specific findings from its study but will use the knowledge gained to try and secure a qualified oil company with which to partner in an application."
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By Eric Cunha; ericcunha@alliancenews.com
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