(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Charles Stanley Group PLC - London-based wealth manager - Says its GBP278.9 million acquisition by St Petersburg, Florida-based investment bank Raymond James Financial Inc approved by UK regulators. Shares expected to delist from London on January 24, but deal still waiting on greenlight from UK courts. The date for the court hearing in January 21.
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Caledonia Investments PLC - FTSE 250-listed investment trust - Completes USD183 million divestment of molecule bioanalytical testing provider BioAgilytix, as part of an investment into the company by private equity firm Cinven. Caledonia has agreed to re-invest USD42 million from the proceeds, alongside Cinven and a consortium of investors including Cobepa, for a minority investment in BioAgilytix. Caledonia co-invested in BioAgilytix in February 2019 alongside Belgium based investment company Cobepa and UK based specialist healthcare fund GHO Capital. Net fees for USD141 million following re-investment.
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ASA International Group PLC - Weybridge, Surrey-based microfinance lender - Says, at end of November, liquidity remains high with approximately USD104 million of unrestricted cash and cash equivalents. Notes pipeline of funding deals under negotiation totalled about USD202 million. Says, excluding India and Myanmar, all other operating companies achieved collection efficiency of more than 90%. India collections broadly flat at 69%. Clients remained around 2.5 million, while gross outstanding loan portfolio increased to USD450 million, up 2% from the previous month and up 2% year on year.
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Aberdeen Japan Investment Trust PLC - listed Japanese companies-focused investment trust - Renews its JPY1.0 billion revolving credit facility with ING Bank NV for a three year period to December 21, 2024. Notes JPY400 million has been drawn down on a revolving basis, at an all-in interest rate of 1.50% per annum, with first maturity on March 17, and the proceeds have been used to repay the company's previous drawings under the old facility, which has been repaid and cancelled in full.
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Agronomics Ltd - Isle of Man-based investor in cellular agriculture - Raises total of GBP3.2 million from open offer of 14.1 million shares subscribed for at 23 pence each. One share was offered to shareholders for ever 28 shares held. Subscription proceeds added to GBP27.8 million raised at start of December.
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Crossword Cybersecurity PLC - Richmond, England-based cyber security and risk-focused technology commercialisation company - Signs heads of terms to acquire an unnamed cyber threat company. Will bring its portfolio to five cyber security offerings alongside its cyber security consulting business. To pay GBP1.5 million for unnamed firm in a mixture of cash and shares, some upfront and some deferred. "Crossword will now focus its full attention on marketing and selling its product portfolio and consulting services to scale up the business," company says.
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Go-Ahead Group PLC - Newcastle upon Tyne-based bus and train operator - Over 46% of shareholders vote against re-election of Adrian Ewer as senior independent director at its annual general meeting. Ewer is reaching the end of a nine-year term and will be replaced by David Blackwood in April.
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Greatland Gold PLC - gold explorer in Australia - Newcrest Mining Ltd, Greatland's joint venture partner in the Havieron copper-gold project, to acquire an additional 5% interest in the Havieron joint venture from Greatland in mid-February. Two firms still to agree on price for stake buy. Proceeds from the exercise will first be used to repay the outstanding balance under the existing Newcrest loan facility. After option exercised, Newcrest stake in JV will be 75%.
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Ironveld PLC - exploration and development company - Remains in close regular contact with Grosvenor Resources Pty Ltd over closing of agreed GBP5.6 million subscription, which is still expected to complete shortly. Deal will also see Grosvenor take 51% of the equity of one of Ironveld's subsidiary companies, Luge Prospecting & Mining Company Pty Ltd for ZAR50 million, about GBP2.4 million, taking total agreed investment to about GBP8.0 million. Chief Executive Martin Eales says: "With Luge being an early-stage property and not included in any published calculations of Ironveld's mineral resources, we will generate substantial value for shareholders from this deal and will utilise all of the investment from Grosvenor to commence project development."
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Southern Energy Corp - North American gas-weighted producer focused on growth - Share consolidation approved by the TSX Venture Exchange, with trading in the post-consolidation shares to start at market open Thursday on both AIM and the TSX-V. Says 616.9 million existing shares will be reduced on the basis of one post-consolidation share for every eight pre-consolidation shares to 77.1 million.
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Atalaya Mining PLC - Cyprus-based copper ore company - Establishes "significant" presence in southwest Spain, in the Ossa Morena Metallogenic Belt. Acquires a 51% interest in Rio Narcea Nickel SL, which owns 17 investigation permits and a 100% interest in three investigation permits that are also located along the Ossa-Morena Metallogenic Belt. Will pay total of EUR2.5 million cash for 2 deals. Chief Executive Alberto Lavandeira says: "With this acquisition, Atalaya has secured a prominent land position in one of the most prospective and underexplored metallogenic belts in Western Europe. Its location, close to the Iberian Pyrite belt where our Riotinto copper mine and other exploration projects are currently advancing, will allow us to carry out aggressive exploration programmes in a cost and time efficient manner."
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Rockhopper Exploration PLC - Salisbury, England-based oil & gas exploration and production company - Updates on arbitration process at Ombrina Mare field. Says tribunal had rejected Italy's request. Rockhopper is seeking damages from Italy. Adds: "Rockhopper continues to believe it has strong prospects of recovering very significant monetary damages - on the basis of lost profits - as a result of Italy's breaches of the Energy Charter Treaty. All of Rockhopper's costs associated with the arbitration to date have been funded on a non-recourse basis from a specialist arbitration funder."
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Xtract Resources PLC - London-based metals and minerals producer - Notes independent laboratory assays have been received for drill hole BRDD-021-015 on the Phase 2 diamond drilling programme at the Bushranger copper-gold exploration project. BRDD-21-015 returns intervals of copper and gold mineralisation on the main western zone of the Racecourse porphyry, which is inclusive of two main zones of copper mineralisation. Assay results graded up to intervals of 10 metres at 0.63% copper from 616 metres depth and 8 metres at 0.34 grammes per tonne gold from 462 metres depth. Executive Chair Colin Bird says results "satisfactory" and consistent with firm's expectations.
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Jangada Mines PLC - London-based resource company with assets in South America - Continues preparation of feasibility study for Pitombeiras Ferrovanadium Project located in the state of Ceara, Brazil. Executive Chair Brian McMaster says: "As the feasibility study reaches finalisation, it is very encouraging to confirm we have no technical or geological impediments to proceeding. The economics of the project are, as expected, dependant on the commodity process and the extraction of the right commodity basket. On the advice of GE21, we are assessing the potential of the titanium component of the project to positively impact its economics. This, together with the pricing variabilities in the iron ore and vanadium prices, has pushed back the completion date of the FS to Q1 2022."
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By Paul McGowan; paulmcgowan@alliancenews.com
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