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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Ocean Wilsons Holdings Ltd - Bermuda-based investment company operating a maritime services company in Brazil - Posts pretax profit for 2020 of USD74.6 million, slipping 9.6% from USD82.5 million the year prior. Revenue decreases 13% to USD352.8 million from USD406.1 million. Proposed dividend of 70 US cents per share, unchanged from year prior. Says 2021 is looking more optimistic as the vaccine roll-out programme starts in earnest, and the blend of better growth together with still abundant liquidity should serve to underpin risk assets. Says it sees little reason to deviate from its positive stance on equities and more cautious view on bonds.
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Nightcap PLC - bar operator in the UK - Posts pretax loss of GBP318,342 from September 23, 2020 to December 31, 2020. Nightcap was incorporated on September 23 last year and was admitted to trading on the AIM market of the London Stock Exchange in January this year. "Nightcap has been set up to acquire, re-capitalise and develop drinks-led concepts with significant potential across the UK. The impact of the Covid-19 pandemic on the hospitality industry has been immense and we are well-placed to support entrepreneurs and businesses that have suffered during the pandemic," says Nightcap.
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Diaceutics PLC - Belfast-based precision medicine diagnostics firm - Swings to pretax loss in 2020 of GBP682,000 from GBP497,000 profit a year prior. Administrative expenses increase 19% to GBP10.0 million from GBP8.4 million. Revenue falls 5.2% to GBP12.7 million from GBP13.4 million. Does not pay dividend for the year, following suit to the prior year. Says it will not be reviewing its dividend policy given its results for the year.
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Dunedin Enterprise Investment Trust PLC - invests in UK lower mid-market management buyouts - Posts net asset value per share at December 31 of 413.9 pence, down 6.9% from 444.4p a year prior. Says the trading performance of the portfolio was impacted by coronavirus and the resulting disruption to economic activity. Proposes final dividend of 2.0 pence per share, down 60% from 5.0p. Says although the disruption created by the pandemic has continued to be the main focus for portfolio companies during the year, the generally strong financial position of portfolio companies has provided "some" protection.
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Octopus Renewables Infrastructure Trust PLC - London-based investor in mainly onshore wind and solar projects - Posts net asset value per share of 98.3 pence at December 31 following its IPO a year prior. Achieves dividend target of 3.18 pence per share and reconfirms its dividend target for 2021 of 5p per share. "I am delighted to announce our good performance and the publication of ORIT's first annual report. In a period which has been dominated by Covid-19, it is pleasing to reflect on the considerable achievements of the company to date," says Chair Phil Austin.
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Thor Mining PLC - Australia-focused exploration and development company - Posts pretax loss for the half year ended December 31 of GBP397,000, narrowing 17% from GBP479,000 a year prior. Swings to a profit on the sale of investments of GBP222,000 from GBP28,000 loss the year before. Says it has numerous developments planned for the rest of the year including a maiden drilling program for gold at Ragged Range, set for the June quarter, and an initial drill program at Colorado for uranium and vanadium expected in May.
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Maven Income & Growth VCT 5 PLC - investment trust managed by London-based Maven Capital Partners - Posts net asset value per share at November 30 of 36.38 pence per share, down2.6% from 37.37p per share a year prior. NAV total return for 2020 lifted 0.8% to 79.83p from 79.22p a year prior. Says that, under the circumstances, the company's directors consider this to be a "creditable performance", which reflects the "strength and diversity of the underlying portfolio and the ability of most investee companies to adjust to the current market conditions". Proposes final dividend of 1.10 pence per share. Notes the uncertainties posed by Brexit and Covid-19 going forward.
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Allianz Technology Trust PLC - London-based technology trust - Posts net asset value per share at December 31 of 2,913.1 pence, rising 76% from 1,654.1 pence a year prior. Says it saw an excellent year in 2020 thanks to the technology sector soaring in value. Proposes no dividend for 2020, unchanged from the year prior. Says that although technology stocks have become "a much more mainstream choice", the fund still believes that it has advantages "since the portfolio offers risk-diversification by investing in a basket of stocks across a range of tech sub-sectors, carefully balancing risks and opportunities."
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Polarean Imaging PLC - London-based medical‑imaging technology - Proposes placing to raise a minimum of GBP17.54 million shares. Says imaging provider Bracco Imaging Spa, which owns a 7.5% stake in the company, will subscribe to GBP2.5 million worth of shares. Says around GBP220,000 will be subscribed to by company directors. Says up to a further GBP2.0 million will be raised through the issue of up to approximately 3.3 million shares in an open offer. Says the proceeds will go to extending "its cash runway for at least" 18 months.
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Mountfield Group PLC - AIM cash shell - Will be removed from the FTSE AIM All-Share Index on Thursday.
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Horizonte Minerals PLC - nickel company focused on Brazil - Says that, as part of a review from its auditors, adjustments have been made to its results for the three and nine months ended September 30. Says the key adjustment is the result of a new accounting policy adopted regarding the capitalisation of borrowing costs due to the interest charge on the royalty financing arrangement between the company and Orion Mine Finance. Says one of the adjustments have a cash impact and the net result is a GBP2.3 million reduction in losses and subsequent GBP2.3 million increase in net assets. In 2019, the company completed a USD25 million royalty transaction with Orion Mine Finance. Orion provided USD25 million of cash upfront in return for a 2.25% royalty on the Araguaia ferro-nickel project in Brazil.
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Pembroke VCT PLC - early stage investor in leisure and luxury brands - Says it will use the over-allotment facility of GBP20 million in relation to its subscription offer, effectively doubling the amount that can be raised to GBP40 million.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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