(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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Zephyr Energy PLC - oil & gas exploration and development in US Rocky Mountains - Says first quarter hydrocarbon sales from Williston Basin in North Dakota, US more than double quarter-on-quarter. Sales in first quarter of 2022 average 1,600 barrels of oil equivalent per day net to Zephyr, up from 548 boepd in fourth quarter of 2021.
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TransGlobe Energy Corp - Calgary, Canada-based oil exploration and production company - Says first quarter petroleum and natural gas sales soar 93% to USD81.5 million from USD42.3 million a year prior. Net of royalties, sales climb to USD53.0 million from USD18.1 million. Swings to net profit of USD48.8 million from USD11.0 million loss.
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DeepMatter Group PLC - Glasgow, Scotland-based digital chemistry data company - Wins second multi-year licensing and collaboration agreement with workflow artificial intelligence drug discovery company Standigm Inc. Second pact to generate GBP280,000 in revenue. Agreement includes licensing for DeepMatter's proprietary chemical structure and reaction data and machine-learning software.
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Polarean Imaging PLC - London-based medical‑imaging technology - Enters collaboration with Oxford University Hospitals NHS Foundation Trust to research long Covid, former sufferers of Covid-19 who still experience difficulty breathing months after contracting the infection. Company adds: "Under the terms of the collaboration, Polarean will provide its investigational xenon polariser system to OUH for their research. In turn, OUH will work with Polarean to optimise the imaging workflow and analyse the datasets coming from the newly enrolling EXPLAIN study. Through novel analyses of gas-exchange images, Polarean and OUH hope to better characterise long Covid and improve patient care."
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Windward Ltd - Tel Aviv-based maritime AI company - Says makes "exceptional" start to 2022, widening customer base. Annual contract value growing "in line with the board's expectations for this point in the year".
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Downing Renewables & Infrastructure Trust PLC - investor in solar parks, wind farms and hydroelectric plants - Says net asset value per share rises 6.4% to 110.1 pence at first quarter end, from 103.5p at end of final quarter of 2021. "The increase in NAV during the period was attributable to several factors including accretive acquisitions, increasing power prices, inflation and financial performance," company says.
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Conduit Holdings Ltd - Bermuda-based reinsurer - Says estimated ultimate premiums written in first quarter of 2022 rise 49% year-on-year to USD296.9 million from USD199.1 million a year prior. Gross premiums written more than double to USD177.5 million from USD82.6 million. "Our position as a pure-play reinsurer, with a strong balance sheet and no legacy, allows the team to take advantage of the best market conditions for a decade," Executive Chair Neil Eckert says. Company estimates USD15 million to USD30 million loss, after anticipated reinsurance recoveries and reinstatement premiums, stemming from Russian invasion of Ukraine. Says minimal exposure to weather-related insured losses.
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Silverwood Brands PLC - investing company targeting food, organic food, wellness, lifestyle and leisure sectors - Invests in e-mobility company Ginger Teleporter Ltd, which operates e-scooters and e-bikes in locations across England. "This transaction is a minor investment by the company while it is reviewing other opportunities to build a portfolio of consumer brands. Further information on the company's progress and other opportunities will be provided in due course," Silverwood says. Silverwood subscribes for unsecured convertible loan note worth GBP200,000. Note has 15% annual interest and two-year term. It is convertible to Ginger shares at GBP28.94 per share.
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Horizonte Minerals PLC - nickel company focused on Brazil - Awards earthworks contract for construction of Araguaia ferronickel project in Brazil to Copa Construcao SA. "Copa is a leading Brazilian company with extensive experience in mining projects and civil infrastructure, ranging from roads, viaducts, hydroelectric power plants, ports, airports and transmission lines. Copa has a portfolio of more than 2.5 billion cubic meters of concrete installed throughout the country and has quality management certification," Horizonte adds. "Awarding the earthworks contract is an important step in the construction of Araguaia. The scope of the contract incorporates the 'process plant and supporting infrastructure' components of the bulk earthworks for the ferro nickel plant."
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By Eric Cunha; ericcunha@alliancenews.com
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