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Share Price: 9.125
Bid: 8.75
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Open: 9.25
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CORRECT: Nanoco files suit; Harland & Wolff activates facility

Thu, 27th Oct 2022 21:41

(Correcting name of Bluejay Mining director who resigned.)

(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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Corcel PLC - London-based mining and mineral resource development company - Completes fundraising and confirms that the placing funds have been received.

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Barclays PLC - London-based bank - Notes that Wise Road Alpha Investment Fund I LP and SMART Growth Fund LP plan to sell 31.7 million shares in the share capital of Alphawave IP Group PLC.

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Hawkwing PLC - cash shell - Notes that liquidators have been appointed to IFG SPP Ltd. It currently owes the company GBP13.7 million together with interest, costs and exit premiums. Explains that it is assessing its options and the steps it should be taking to protect its position following IFGS' liquidation.

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Insig AI PLC - London-based data science and machine learning - Says that a second tranche of GBP260,000 has been drawn down on the convertible loan facility agreement by Richard Bernstein. After this tranche, an amount of GBP390,000 remains available.

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Critical Metals PLC - Africa-focused natural resources investor - Says it is in the final stages of appointing a mine manager for its Molulu copper and cobalt project in Congo. Says groundwork at the project has begun shortly after readmission. Employs local workers to clear and clean the mine campground and enhance security. Expects camp equipment, which is currently in transit from South Africa, to be arriving soon after this. Starts preparations for the initial geological mapping surveys. "These are exciting times for Critical Metals as we prepare the ground and await the arrival of key camp equipment, expected in the coming weeks. It is highly encouraging to see the collaboration of our team, including our current DRC-based geologists, as we endeavor to identify further extensions of the copper ore body by further geological mapping, which we hope will be completed in a matter of weeks," CEO Russell Fryer comments.

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DX Group PLC - Slough, England-based parcel freight, secure courier and logistics provider - Confirms that it has received a notice from Gatemore Capital Management LLP seeking to requisition a general meeting of the company. Gatemore proposes to remove Ron Series as executive chair and a director and to appoint Mark Hammond to replace him.

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Nanoco Group PLC - Manchester-based nanomaterial developer and manufacturer - Files a lawsuit against Samsung in China for the willful infringement of its IP. Says this is its third lawsuit against Samsung and that it is based on a sister patent to one of the patents in the US litigation. The litigation process in China is expected to be faster than the US process, where multiple appeals can extend for a number of years. A final outcome in China can be expected between one and two years from filing suit. China is also another territory where an injunction is more commonly available than in the US. We continue to pursue a patent litigation strategy that delivers fair value for Nanoco's global IP portfolio. We are grateful to be well supported in these endeavours by our Litigation Funding Partner and our legal advisers at Mintz," Chief Executive Brian Tenner comments.

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Mosman Oil and Gas Ltd - Sydney-based oil and gas company with projects in Australia and the US - Identifies other near term production opportunities, as result of the work programme to bring the new development well at Cinnabar onto production. Drilles a development well at the Cinnabar project. Completes the drilling of the Arco Fee G-1and Arco Fee G-2 well to 10,000 feet depth and states it is ready for production. Says the flow rates will be announced when received.

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Bezant Resources PLC - copper-gold project developer - Enters into a conditional share purchase agreement to exchange its 27.5% stake in IDM Mankayan Pty Ltd for a 27.5% interest in IDM International Ltd. Enters a convertible loan note agreement with IDM International to invest AUD137,500, or GBP77,000, in IDM International. Adds that IDM International has entered into a convertible loan notes deal with entities associated with two of its directors to raise AUD362,500, or GBP203,000.

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Bidstack Group PLC - London-based in-game advertising platform - Intends to undertake a "comprehensive business review" as part of its "aggressive growth strategy" for 2023. "We are happy to share the new revenue streams the Group is exploring, including licensing our proprietary technology, empowering IP rights holders to control their brand activations in the virtual world and the expansion of our gaming 'SSP', which now houses all ad-formats within the gaming ecosystem. This is an exciting period where we are looking to accelerate our top line growth and look to cement our position as the dominant technology provider for game developers and platform owners for targeted, brand-based communications within gaming environments and applications," Founder & Chief Executive James Draper comments.

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Bluejay Mining PLC - mineral exploration and development in Greenland and Finland - Sayd Non-Executive Director Johannus-Egholm Hansen resigns and ceases to be a director with immediate effect.

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Harland & Wolff Group Holdings PLC - London-based offshore construction company - Says that it has activated the accordion facility provided by Riverstone Credit Partners LLC. Draws down an initial sum of USD15 million before costs. Plans to use the funds for the full settlement of the remaining Appledore deferred consideration and for working capital needs as required. Explains that a total sum of GBP4.5 million remains payable for the deferred consideration to Appledore's vendors. Issues 8.6 million warrants to Riverstone Credit Partners LLC at an exercise price of 5.65 pence per share, as part of the transaction. "I am delighted that we have formally completed the acquisition of all the assets of Appledore. With the M55 and HMS Atherstone in the yard, the completion of this transaction and bringing these assets formally under the Harland & Wolff umbrella is a significant milestone. It also provides additional confidence to our clients to progress and execute new contracts destined for Appledore," CEO John Wood comments.

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By Abby Amoakuh; abbyamoakuh@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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Harland & Wolff wins first contract for new Miami location

(Sharecast News) - Harland & Wolff Group announced the successful award of a contract valued at $1.5m for its newly established Miami office on Tuesday.

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Harland & Wolff wins further Cory contract for GBP8.5 million

(Alliance News) - Harland & Wolff Group Holdings PLC on Monday said it won a GBP8.5 million, 10 barge contract from the London-based Cory Group.

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20 Oct 2023 14:14

IN BRIEF: Harland & Wolff notes appeal against Islandmagee judgment

Harland & Wolff Group Holdings PLC - London-based fabrication company, which serves the maritime and offshore industries from yards in England, Northern Ireland and Scotland - Notified of an appeal against a judgement made in late August in the company's favour following the completion of the judicial review of its Islandmagee gas storage project. Islandmagee is a salt cavern gas storage facility in Antrim, Northern Ireland. The company obtained a marine licence for the project from Northern Ireland's Department of Agriculture, Environment & Rural Affairs in November 2021. Says it is due to receive a hearing date in the next few weeks with the hearing likely to be scheduled for early 2024.

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20 Oct 2023 10:15

AIM WINNERS & LOSERS: Harland & Wolff up on vessel contract upgrade

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20 Oct 2023 08:55

Harland & Wolff gets GBP61 million contract upgrade for SeaRose vessel

(Alliance News) - Harland & Wolff Group Holdings PLC on Friday said it has been awarded a mid-life upgrade contract for the SeaRose floating production storage and offloading vessel by Cenovus Energy Inc.

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9 Oct 2023 11:45

IN BRIEF: Harland & Wolff to buy tug; proposes new fast ferry service

Harland & Wolff Group Holdings PLC - London-based fabrication company, which serves the maritime and offshore industries from yards in England, Northern Ireland and Scotland - Provides update on strategy to establish its own marine operations once it has a critical mass of marine activity to service. As part of this push, it has identified a new tug to acquire, which will be added to two announced earlier this year. The new tug will be used internally and also hired out when not needed. Harland & Wolff also continues to pursue its proposal for fast ferry and freight services to and between the Isles of Scilly. The vessels would be built in the UK and therefore could be eligible for levelling up funding from the UK government.

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15 Sep 2023 17:10

Harland & Wolff inks partnership with Swedish energy systems supplier

(Alliance News) - Harland & Wolff Group Holdings PLC on Friday said it has signed a new partnership with Echandia, the Swedish energy systems supplier.

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8 Sep 2023 10:15

AIM WINNERS & LOSERS: Power Metal jumps on Perch River discovery

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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8 Sep 2023 09:39

Harland & Wolff sees revenue surge but half-year loss widens

(Alliance News) - Harland & Wolff Group Holdings PLC on Friday said its loss widened in its latest half year despite a 65% revenue boost, but maintained its confident outlook amid "increasingly exciting times".

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31 Aug 2023 12:20

IN BRIEF: Harland & Wolff shares climb on positive judicial review

Harland & Wolff Group Holdings PLC - London-based fabrication company serving maritime and offshore industries from yards in England, Northern Ireland and Scotland - Announces that the judicial review of its Islandmagee gas storage project had been made in its favour. Says it will now assess the judgement in detail and consider the appropriate next steps factoring in the findings of the judgement and the interests of Harland & Wolff's stakeholders. Adds a further announcement will be made "in due course."

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31 Aug 2023 12:00

LONDON MARKET MIDDAY: FTSE 100 edges lower ahead of US inflation print

(Alliance News) - The FTSE 100 tipped into the red at midday on Thursday as investors nervously awaited the latest print of the US Federal Reserve's preferred inflationary gauge, the personal consumption expenditures index.

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30 Aug 2023 11:04

IN BRIEF: Harland & Wolff seeks UK levelling up funds for Scilly ferry

Harland & Wolff Group Holdings PLC - London-based fabrication company serving maritime and offshore industries from yards in England, Northern Ireland and Scotland - Says in advanced stage of pursuing opportunity to build and operate two ferries between Penzance and the Isles of Scilly in Cornwall, England. After three years of design and costing for the boats, Harland & Wolff now will apply for levelling up funding from the UK government. Levelling up funds encourage economic development outside of London. Will seek to operate the ferry route for an initial five-year period, with options for five-year extensions. Notes the current vessel operating the passenger ferry to Scilly, the Scillonian III, was built at Harland & Wolff's Appledore shipyard, which is in neighbouring Devon. Cautions there is no certainty the ferry opportunity will be brought to financial close.

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21 Aug 2023 11:49

IN BRIEF: Harland & Wolff judicial review to be heard next week

Harland & Wolff Group Holdings PLC - London-based engineering company serving the maritime and offshore industries - Issues update on the judicial review of its Islandmagee gas storage project, says case has been listed for judgement on Thursday, August 31. Islandmagee is a salt cavern gas storage facility in Antrim, Northern Ireland. Company obtained a marine licence for the project from Northern Ireland's Department of Agriculture, Environment & Rural Affairs in November 2021.

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3 Aug 2023 16:35

Harland & Wolff establishes new technology division in Aberdeen

(Alliance News) – Harland & Wolff Group Holdings PLC on Thursday established a new fully-owned subsidiary to be based in the UK's "energy capital", Aberdeen.

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1 Aug 2023 16:25

TRADING UPDATES: Chariot oversubscribed from GBP2.3 million fundraise

(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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