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Pin to quick picksGstechnologies Share News (GST)

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Share Price: 1.175
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Change: -0.025 (-2.08%)
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TRADING UPDATES: GSTechnologies buys crypto exchange; Altus realigns

Thu, 20th Jan 2022 21:13

(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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Duke Royalty Ltd - royalty finance company - Makes GBP2.5 million follow-on investment into existing royalty partner InTec Business Solutions Ltd to fund its two latest acquisitions. InTec is an investment holding company focused synergistic companies within the IT Managed Services sector in the UK and Ireland. Financing increases company's total investment in InTec to GBP12.4 million. The terms are the same as Duke's previous follow-on investment into InTec including a starting yield of 13.5% and the normal 6% annual adjustment factor. InTec recently buys Provident Technology Ltd, an IT Managed Services business, as well as Firefly Enterprises Ltd, a provider of fixed line data and telecom services.

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Marlowe PLC - London-based safety and regulatory compliance services and software firm - Raises GBP130 million from "significantly oversubscribed" placing. Places 13.1 million shares, priced at 1,000 pence each, which was a 4.3% discount to Wednesday's closing price. As part of the placing, Chief Executive Alex Dacre subscribed for 20,000 shares. Will use proceeds to acquire Optima Health Group Ltd, a provider of technology-enabled Occupational Health services in the UK. Says Optima deal is "consistent with its strategy to become the leader in the Occupational Health sector". Dacre adds: "The acquisition of Optima significantly strengthens our Governance, Risk & Compliance division and builds further confidence in the delivery of our 2024 strategy, which is materially ahead of schedule."

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GSTechnologies Ltd - Milton Keynes, England-based fintech and information technology company - Enters legally binding sale & purchase agreement to buy UAB Glindala, a holder of a crypto currency exchange licence registered in Lithuania, for a total cash of EUR27,500. Plans to launch full-service cryptoasset exchange, hoping to open it in the second quarter. Glindala's crypto licence is supervised by the Lithuanian Financial Crime Investigation Service and it covers two types of crypto activities, cryptoasset exchange services, both crypto-fiat and crypto-crypto, and cryptoasset depository wallet services, including generating and storing encrypted client keys. Notes deal will only complete if the licence is approved by the FCIS.

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Open Orphan PLC - pharmaceutical services provider - Says subsidiary hVIVO inoculates first cohort of volunteers with a GMP-manufactured malaria challenge agent as part of its first controlled human malaria infection challenge study. "This study will assess CHMI using existing standard of care antimalarial drugs against Plasmodium malaria," company says. Study expected to complete in first quarter, with results due in second quarter. Executive Chair Cathal Friel says: "This study also ensures that Open Orphan is both strengthening and further diversifying the company's world leading portfolio of viral challenge models. We look forward to updating the market in due course."

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Zenova Group PLC - Brentwood, England-based fire safety and thermal insulation products provider - Signs "partners in health" contract with the Epsom & St Hellier University Hospitals NHS Trust in Surrey, UK. "The signing of the contract and Zenova achieving NHS trusted partner status followed the evaluation of its fire safety and insulation products by the Trust's EME Technical Support Services division. It paves the way for Zenova's products to be used to improve fire safety and insulation throughout the Trust's estate," company says. Chief Executive Tony Crawley says deal is "considerable development" for company.

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Altus Strategies PLC - Didcot, England-based mining royalty company - Amends joint venture and earn-in agreement with Marvel Gold over the Tabakorole gold project and two contiguous gold licences for a total of 292 square kilometres in southern Mali. Marvel now holds a 70% equity interest in the licences and retains the right to increase their holding to 80% following a definitive feasibility study. Altus retains a 30% equity interest and holds a 2.5% net smelter return royalty on these licences. Exploration activities are being sole funded by Marvel. As part of the deal, Altus now holds a 100% interest in the highly prospective Lakanfla gold project in western Mali.

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Good Energy Group PLC - Chippenham-based renewable energy utility - Sells 47.5 megawatt renewable generation asset portfolio for up to GBP24.5 million to Bluefield Solar Income Fund Ltd. Good Energy notes sale part of its ongoing strategic shift to energy and mobility services. Will receive GBP16.4 million up front, with GBP8.1 million deferred based on operational, technical, real estate and financial position of the projects. "Proceeds from the transaction will be used to accelerate and support further investments across both transport and decentralised energy to deliver Good Energy's strategic plan. These investments will not occur all at once and in the meantime, proceeds have further strengthened the company's balance sheet," company adds. Notes it will take part in subsidiary Zap-Map's current funding round.

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Rockfire Resources PLC - gold and base metal exploration company - Reports highest-grade hole drilled so far at diamond drilling programme at 100%-owned Copperhead porphyry project in North Queensland, Australia. Says hole BCH003 returns 370 metres at 0.20% copper equivalent from 57 metres, with copper veins observed throughout the entire 429 metres long drill hole. The drill hole finished in copper-bearing veins. Notes higher-grade interval of 50 metres at 0.35% copper equivalent occurs from 259 metres downhole depth, and a more intensely veined interval of 22 metres at 0.41% copper equivalent has been intersected from 271 metres downhole depth. Chief Executive David Price says results are "encouraging," as it "significantly expands the volume, and therefore tonnage, of the deposit."

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GreenX Metals Ltd - Arctic Rift copper project in Greenland - Finds new "walk-up" native copper and copper sulphide targets for the upcoming field program at Arctic Rift copper project. Notes two additional exposures of native copper mineralisation identified from recently unearthed historical documentation at Neergaard Dal, as well as new priority, walk-up, at-surface target identified along the Knuth Fault which is a discovery zone "lookalike" feature. Company says results are "very exciting". Adding: "This true first-mover opportunity has tremendous potential for multiple major new copper discoveries."

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Bradda Head Lithium Ltd - North America-focused lithium development - Starts trading on the US OTCQB Market, and notes it will have no impact on its existing shares trading on AIM. No new shares will be issued. Chief Executive Charles FitzRoy says: "Bradda finished 2021 in a great position with USD9.9 million in the treasury from the royalty transaction with LRC as well as our 2021 IPO funds and has started 2022 strongly. Cross-listing on the OTCQB will enable North American investors to trade our AIM listed shares gaining exposure to this North American lithium opportunity."

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Tirupati Graphite PLC - graphite mining and processing company - Hits technological milestone for its column flotation system which it believes will "significantly improve" its performance of its primary graphite and downstream specialty graphite production processes. "After concluding successful trials, Tirupati will be shipping the first commercial scale CFS with a 1.5 million tonnes per hour capacity, for installation and operation at its 9,000 tonnes per annum Vatomina graphite production plant in Madagascar," company says. Also says this "increases its confidence" of its strategy of "rapidly increasing production capacity."

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African Pioneer PLC - Isle of Man-based natural resources company - Enters option agreement with Toronto-listed First Quantum Minerals Ltd for 4 of the 5 Zambian exploration licences held by by its 80%-owned subsidiary in Zambia. "The four exploration licences the subject of the option agreement are in the highly prospective Central Africa Copperbelt in northwest Zambia which is the largest and most prolific mineralized sediment- hosted copper province in the world and are located less than 100 kilometres from First Quantum's giant Sentinel copper mine," company says. As part of deal, First Quantum has the right to be issued shares equal to a 51% shareholding in African Pioneer Zambia during first earn-in period in first 2 years of deal. After which, in the second earn-in period, Quantum will have right to up its 51% shareholding in African Pioneer Zambia to 75%.

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Aura Energy Ltd - Tiris uranium project in Mauritania - Seeking to expand the current uranium resource through further exploration and commence production at Tiris. A 2022 resource upgrade program will include further drilling, seeking to upgrade more of its 56 million pounds resource from inferred to measured & indicated. "The program is designed to expand what is already one of the lowest capex and lowest operating cost uranium projects in the world, and we aspire to expand the resource so that it supports expansion of Tiris to ultimately operate at 3 to 5 Mlbs U3O8 production per year," company adds.

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By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
21 Dec 2023 15:32

IN BRIEF: GSTechnologies interim loss narrows as eyes Semnet buy

GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Loss narrows 36% to USD737,000 in the six months to September 30, from USD1.2 million a year ago. Posts no revenue in either half-year. Looking ahead, expects completion of cybersecurity business Semnet Pte Ltd by early February. Two weeks ago, GSTechnologies agreed to acquire around 67% of the Singapore-based firm, Semnet Pte Ltd for USD1.8 million.

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6 Dec 2023 11:41

IN BRIEF: GSTechnologies buys majority stake in Singapore-based Semnet

GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Agrees to acquire around 67% of Singapore-based cybersecurity firm, Semnet Pte Ltd for USD1.8 million. Says remaining 33.33% shares in Semnet are held by Ong Siew Phek and Lam Pek San, which own 23.33% and 20% respectively. Chair Tone Goh says: "This strategic acquisition represents a further important step in the company's journey. Our commitment to innovation and excellence remains unwavering, and having in-house cybersecurity expertise and capability is important as we continue to build a B2B Neobank providing next-generation digital money solutions. We look forward to providing updates in due course on the progress of this acquisition and the subsequent enhancements it brings to our fintech offerings."

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29 Nov 2023 11:31

GSTechnologies to buy 60% of payments business EasySend

(Alliance News) - GSTechnologies Ltd on Wednesday said it signed an option to purchase agreement to acquire a majority stake in Belfast-based cross-border payments business EasySend Ltd.

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14 Nov 2023 14:19

TRADING UPDATES: Billington on track to beat 2023 expectations

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

Read more
13 Oct 2023 15:49

UK shareholder meetings calendar - next 7 days

Monday 16 October 
Let's Explore Group PLCGM re name change to Huddled Group PLC
Tuesday 17 October 
Diverse Income Trust PLCAGM
Gateley Holdings PLCAGM
Wednesday 18 October 
Ashmore Group PLCAGM
Barratt Developments PLCAGM
Round Hill Music Royalty Fund LtdCourt Meeting and GM re cash offer
Thursday 19 October 
Argo Group LtdAGM
Bridgepoint Group PLCGM re adding Energy Capital to platform
Direct Line Insurance Group PLCGM re sale of brokered commercial insurance business lines to RSA Insurance Ltd
Instem PLCGM re takeover by Archimed
Medtronic PLCAGM
Pantheon International PLCAGM
Rank Group PLCAGM
Friday 20 October 
GSTechnologies LtdAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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15 Aug 2023 12:18

GSTechnologies shares up as completes PAYPT Finance acquisition

(Alliance News) - GSTechnologies Ltd on Tuesday said it has completed the acquisition of PAYPT Finance Ltd, a Canadian company holding a Canadian money services business licence.

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31 Jul 2023 13:50

IN BRIEF: GSTechnologies full-year revenue down; loss widens

GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Reports revenue of USD2.3 million for the year ended March 31, down 45%from USD4.2 million in financial 2022. Says net operating income of USD443,000, multiplying from USD47,000 the year prior. Says pretax loss was USD1.6 million, widening from USD1.4 million the previous year. Chair Tone Kay Kim says "there is a very bright future for GST", adding that the firm is exploring further acquisition opportunities following its recently proposed purchase of PAYPT Finance Ltd.

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20 Jul 2023 17:19

TRADING UPDATES: RC365 inks agreement; GSTechnologies buys PAYPT

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
30 Jun 2023 14:07

TRADING UPDATES: Aquila European says no hit from Siemens Energy woe

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

Read more
16 Jun 2023 09:53

IN BRIEF: GSTechnologies stablecoin application to FCA faces delays

GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Says UK Financial Conduct Authority stablecoin application continues to be processed, after having been extended beyond anticipated timeframe. Adds, its subsidiary, Angra, continues to perform in line with its expectations.

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17 May 2023 12:40

GSTechnologies raises GBP750,000 for GS Money strategy

(Alliance News) - GSTechnologies Ltd on Wednesday said it has raised GBP750,000 through a placing of 75.0 million shares at a price of 1.0 pence each.

Read more
12 May 2023 14:30

IN BRIEF: GSTechnologies stablecoin application review delayed

GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Says the expected final panel review meeting regarding the stablecoin application for admission to the UK Financial Conduct Authority regulatory sandbox will not take place. This is due to "unprecedented" levels of sickness within the FCA team. As a result, the FCA will provide a decision on the application by the end of this month, instead of mid-May as previously announced.

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11 Apr 2023 11:11

IN BRIEF: GSTechnologies notes share rise, FCA application progressing

GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Notes recent share price rise and confirms its stablecoin application for admission to the UK Financial Conduct Authority regulatory sandbox continues to progress as expected. Says the sandbox application has been assessed by the FCA, who have verbally indicated that it is eligible for, and undergoing, FCA panel review and further assessment. Expects to receive the decision on the application in mid-May 2023. Says it continues to assist the FCA with their panel review of the sandbox application in the meantime. The application was first announced in late February, while GSTechnologies says it will make further announcements "in due course" and as appropriate.

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11 Apr 2023 10:05

SMALL-CAP WINNERS & LOSERS: GSTechnologies progresses FCA application

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.

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4 Apr 2023 12:02

IN BRIEF: GSTechnologies receives notice to convert loan into stock

GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Receives conversion notice from its loan facility provider to convert remaining USD285,000 principal amount of loan and associated interest of USD28,500 into new shares. The conversion price will be 0.31 pence per new share, resulting in 81.2 million shares being issued to the provider. Following this, no principal amount or associated interest will remain outstanding under the loan facility.

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