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(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Asia Strategic Holdings Ltd - Singapore-based developer and operator of consumer businesses located in emerging Asian economies - In the financial year that ended September 30, pretax loss narrows to USD5.3 million from USD5.9 million a year earlier. This is because revenue rises to USD24.1 million from USD17.9 million a year earlier, offsetting administrative expenses rising to USD18.2 million from USD13.1 million. Says 2023 marks sixth consecutive year of double-digit revenue growth. Declares no dividend as "needs to conserve cash for working capital and future expansion". Looking ahead, says it remains positive "on the long-term growth prospects of [Association of Southeast Asian Nations] as well as the markets in which its businesses operate", despite "difficult macroeconomic conditions faced" in financial 2023.
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Verici Dx PLC - Cardiff, Wales-based developer of advanced clinical diagnostics for organ transplants - Announces collaboration with the Westmead Institute for Medical Research based in Sydney, Australia on a four-year federal research grant. Says this forms part of the Australian government's Medical Research Future Fund 'Genomics Health Futures Mission', in which the Australian government is investing AUD500 million, or GBP259.0 million, in genomic medicine research with the objective to save or transform the lives of more than 200,000 Australians through genomic research to deliver better testing, diagnosis, and treatment, including in the field of organ transplants. Says the collaboration aims to improve the understanding of factors contributing to graft loss in organ transplants, focusing on "genetic differences between donor and recipient beyond the well-known human leukocyte antigens mismatches".
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Valereum PLC - Gibraltar-based company linking mainstream currency products into cryptocurrencies - Completes acquisition of Gibraltar-based fintech company GSX Group. In December, the deal was announced for 100% ownership in exchange for 5.0 million shares in Valereum and 10.0 million warrants, exercisable at 1 pence per share by December 2026.
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Phoenix Copper Ltd - Raises GBP66,257 via retail offer of 576,152 new shares priced at 11.5 pence each, alongside a subscription of 434,783 shares worth GBP50,000, further to the close of the placing and subscription raising GBP2.7 million on Friday last week. New shares will be admitted for trading on AIM in London on or around Tuesday next week.
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Gama Aviation PLC - Farnborough, England-based aviation services company - Agrees to buy the trade and assets of Specialist Aviation Services Ltd, a UK-based provider of helicopter emergency medical services and aircraft repairs and maintenance services, from its appointed administrator FRP for GBP280,000. Considering the initial working capital requirements of the business at completion, provisions for restructuring costs and transaction costs, Gama Aviation anticipates the total cost of the acquisition will amount to around GBP3.0 million. Gama Aviation Chief Executive Officer Marwan Khalek says: "This acquisition accelerates our growth in our special mission strategic business unit, adding scale in the UK, building on our recent contract wins with amongst other the Welsh Air Ambulance and opening new international operations in the Middle East to complement our established fixed wing aircraft management and maintenance, repair and overhaul capability in the region. We believe that there is considerable potential within the trade and assets of this business, that over the medium term will enhance the prospects of the special mission strategic business unit. However, given the nature of the acquisition, our immediate priority is to ensure continuity of service for the UK air ambulance charities such that they are able to maintain their life-saving operations."
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By Greg Rosenvinge, Alliance News senior reporter
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