(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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CT UK High Income Trust PLC - invests for dividend income plus prospects for capital growth, formerly known as BMO UK High Income Trust - Enters 3-year unsecured revolving credit facility with Royal Bank of Scotland International Ltd for GBP15 million. This replaces its existing RCF with Scotiabank. Says facility will help it pursue its investment objective.
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First Property Group PLC - London-based property fund manager and investor - Says total funds under management end August at GBP547.5 million versus GBP558.7 million at the end of March, with the drop pinned on the sale of three properties in the UK for GBP21.1 million.
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Knights Group Holdings PLC - Newcastle, England-based legal and professional services provider - Delivers "robust" financial performance in last financial year, noting "strong" cash generation and "good" revenue growth of 22%. "This demonstrates the continued resilience of our business model and our people, despite the trading headwinds faced in the last few weeks of the financial year," it says. Also "pleased" with positive start to the new financial year. Adds: "It continued to execute its growth strategy with the successful acquisition and integration of Coffin Mew in the first quarter, and conversations with a number of attractive acquisition targets are ongoing. We expect our organic growth to be underpinned by our ability to attract high calibre professionals."
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Pendragon PLC - Nottinghamshire-based car dealership chain - Says it is conducting "comprehensive review" of all "potential strategic options". New strategy review follows day after it received a takeover approach from vehicle showrooms operator Hedin Mobility Group AB. Hedin has offered 29p per Pendragon share, giving it an equity valuation of around GBP405 million. On Tuesday, says its review "will be accelerated" following the offer. Adds that it remains "excited about its future prospects". "However, in light of the possible cash offer from Hedin Group which the board is currently considering together with its financial and legal advisers, the board will consider all options in order to maximise shareholder value," it continues.
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Grafenia PLC - Manchester-based printing and software company - Issues further bonds from its perpetual bond facility, which opened in July 2020. Issues GBP5.0 million of bonds, raising GBP4.3 million before expenses. Says procceds will be used to support its acquisition strategy.
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eEnergy Group PLC - London-based energy efficiency-as-a-service provider - Launches eSolar, its in-house solar photovoltaic system business, which it hopes will help organisations to "rapidly deploy on-site energy generation, on a capital-free basis." It says: "eEnergy initially developed its solar capabilities as a result of the increasing demand from both existing and new customers for onsite solar generation driven largely as a result of the surge in grid energy costs, which have increased by over 300% in the last year; where the implied cost of onsite solar energy now trades at more than 50% discount."
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Arkle Resources PLC - Ireland-based gold and zinc explorer - Agrees to drill extra hole at Stonepark project, once initial six-hole drill programme is completed. Own 23% interest in project, with Group Eleven Resources Corp owning the rest. It says: "The hole, with a target depth between 700 metres and 1,100 metres depending on the depth of the target horizon, will be a step out hole 300 metres to 500 metres north of hole G11-2531-01 drilled earlier this year and announced on June 16. This hole pierced a large and prospective fault structure."
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By Paul McGowan; paulmcgowan@alliancenews.com
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