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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Bank of Cyprus Holdings PLC - Strovolos, Cyprus-headquartered financial services firm - Receives valid tenders of EUR207 million, or 83%, of the existing notes, from Fixed Rate Reset Tier 2 Capital Notes due January 2027 tender offer. "The successful uptake of the offer, in conjunction with the issue of EUR300 million unsecured and subordinated Tier 2 capital notes demonstrate the group's proactive management of its capital base by refinancing the existing notes at a significantly lower coupon rate and managing the associated carry cost of the existing notes. The issuance of the new notes further enhances the group's capital base and is expected to increase the group's total capital ratio by about 100 basis points to 19.7% pro forma for Helix 2," company adds.
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Jardine Matheson Holdings Ltd - Hong Kong-headquartered holding company with interests in retail, property, hotels and motor dealerships - Notes announcement from PT Astra International Tbk, in which 75%-owned subsidiary, Jardine Cycle & Carriage Ltd, which holds 50.1%. PT Astra's net earnings in three months of March 31 down 22% and net revenue falls 4%. "The revenue and net income of Astra group for the first quarter of 2021 were lower compared to that of the same period last year, as the pandemic started to materially affect the Indonesian economy and the performance of the business only from March 2020. Although the group's trading performance has gradually improved in recent months, the outlook for the full year remains uncertain due to the ongoing impact of the pandemic," PT Astra President Director Djony Bunarto Tjondro says.
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Attraqt Group PLC - online shopping technology provider based in London - Says strong finish to second half of 2020 continues into new year. "Pleasingly, despite the ongoing pandemic related uncertainty, which has delayed some customer decisions, the company has achieved its bookings and revenue target for Q1 2021 and is tracking in line with its expectations for the full year," company says.
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Riverstone Credit Opportunities Income PLC - firm which invests in mid-market energy company credit - Originates new investment in lithium-ion battery company Imperium3 New York Inc. Participates in USD63.0 million first lien delayed-draw term loan. "In addition to having a first lien on the manufacturing assets, the credit facility is supported by two parent guarantors: Charge CCCV, which is a research and development company based in Binghamton, New York with patented discoveries in battery composition, and Magnis Energy Technologies Ltd," company adds.
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Nexus Infrastructure PLC - Braintree, Essex-based gas, electricity, water, fibre networks and electrical vehicle charging infrastructure - Says trading in six months ended March 31 in line with internal expectations, with all three businesses "active on site and winning new business". Company expects to report interim revenue of GBP63.9 million, versus GBP84.2 million year before, in line with the "base case", company says. Total order book stood at GBP301.6 million on March 31, GBP2.1 million ahead of the prior year and an increase of 6.9% since September 30.
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GSTechnologies Ltd - Milton Keynes, England-based wireless, electronic cabling and security solutions for infrastructure development customers - Signs memorandum of understanding with Wise MPay Pte Ltd with a view to enhancing its blockchain and new technology development capabilities. "As a first step in formalising the relationship between GST and Wise MPay, the parties have entered into an MOU setting out the proposed relationship between them and the proposed deliverables, which include the setup of four consensus nodes that come with 25 million stake tokens each, for transaction validation purposes on the Coalculus network, and the technology integration of remittance gateways to 18 countries. Completion of the arrangements is subject to the Parties entering into definitive agreements. Further announcements will be made as appropriate," company explains.
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Zenith Energy Ltd - oil & gas production company focused on Africa - Makes binding offer to wholly acquire a company holding a 100% interest in two hydrocarbons production and development concessions in Tunisia, which has now been accepted. The offer is mix of cash and assumption of debt by Zenith for USD200,000 total consideration. The potential acquisitions currently produce about 80 to 100 barrels of condensate per day with 5.5 to 6 MMSCF of natural gas.
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RTC Group PLC - London-based recruitment company - Chair Dye, speaking at annual general meeting, says: "Throughout the first quarter we continued to provide contract workers to the infrastructure and railway transportation sectors and internationally at similar levels seen in fourth quarter of 2020. General UK recruitment and smart-meter installation activities which were significantly impacted by the lockdowns in 2020 have picked up somewhat in the current financial year. Our hotel and conference centre provided bedroom and meeting room facilities to key workers in line with Government guidelines." Company believes that it is too early to quantify revenue and operational profit for the full calendar year 2021.
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Nostra Terra Oil & Gas Co PLC - Texas-focused oil and gas explorer - Planned strategic expansion of its portfolio into Tunisia progresses. "Exclusive negotiations and preparations have taken place for a large block with existing discoveries, offering both exploration and appraisal activity and new entities have been organised in anticipation of such expansion," company explains. It continues: "Completion of the initial transaction is not certain, however Nostra Terra has exclusivity, has negotiated terms and is waiting final approval."
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Nu-Oil & Gas PLC - cash shell - Shares currently suspended, with cancellation expected on May 5. Records pretax loss in six months to December 31, 2020 of GBP401,000 compared to GBP631,000 year before. Company says: "The company's performance shown in these accounts for the six months to December 2020 has been defined by several factors: the disciplined management of the company's cash position; a conservative approach to managing ongoing overhead commitments; and the proactive engagement of the company's creditor relationships. For these reasons, the board continues to be satisfied it will meet its spending commitments as they fall due until it can complete the proposed transaction and admit to the standard segment."
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By Paul McGowan; paulmcgowan@alliancenews.com
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