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(Alliance News) - The following is a round-up of updates by London-listed companies, issued Thursday and not separately reported by Alliance News:
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Schroder BSC Social Impact Trust PLC - investment firm focused on positive social impact as well as long-term capital growth and income - Fully commits proceeds from IPO and placing from last November. Makes GBP4.5 million investment in Debt for Social Enterprises asset class, through the acquisition of a stake in The Community Investment Fund. Also in the Debt for Social Enterprises asset class, increases its allocation to the Charity Bond Portfolio managed by Rathbones by GBP1.6 million. Finally, makes follow-on investment in High Impact Housing asset class, through GBP5 million in the Man GPM RI Community Housing Fund. Jeremy Rogers, chief investment officer of Big Society Capital, portfolio manager of Schroder BSC Social Impact Trust, says: "We are pleased to have fully committed the proceeds of the recent raise ahead of plan across a diverse mix of investments delivering high quality returns alongside high impact for more disadvantaged groups. We continue to see a strong pipeline developing that fits with the Social Impact Trust's strategy of delivering high impact through experienced local enterprises alongside good risk adjusted returns with low correlation to mainstream markets."
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CIP Merchant Capital Ltd - Guernsey-based investment company - Sells 40,000 shares in investee Alkemy SpA for EUR803,169. Notes it still holds 361,415 shares in the Italian digital marketer.
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Gabelli Merger Plus+ Trust PLC - dedicated merger fund that invests globally but has "emphasis" on US-traded securities - Net asset value per share ends 2021 at USD9.83 versus USD9.67 at same point year before but down from USD9.94 six months earlier. Maintains interim payout at USD0.24. Company says: "The evolving US antitrust landscape and aggressive policy reform rhetoric have increased volatility in deal spreads. While there is never a lack of risk, volatility provides us with an opportunity, as it is often indiscriminate. Mispriced risk allows us to add to our highest conviction positions at lower prices-the benefits of which will be apparent as these transactions progress towards closing."
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Riverstone Credit Opportunities Income PLC - aims to generate returns by making loans to companies in energy sector - Ends 2021 with net asset value per share of USD1.02 versus USD1.04 at same point year before. Maintains annual shareholder distribution at 7.0 US cents. Chair Reuben Jeffery says: "I am pleased with the direction in which the portfolio is moving, focused on energy infrastructure and infrastructure services and energy transition assets, while maintaining consistent returns and steady income. As always, the Board and RCOI remain vigilantly focused on managing the portfolio to ensure long-term value creation for our shareholders." He notes company had committed over 78% of its capital to investments and had USD65.9 million net invested, equating to 70% of net capital available, and a cash balance of over USD27 million.
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CATCo Reinsurance Opportunities Fund Ltd - invests in catastrophe reinsurance risks - Markel CATCo Reinsurance Fund Ltd gets Bermuda courts to order meetings of scheme creditors be convened to consider the arrangements proposed by Markel. Meetings are expected on March 4. In early February, Markel ups takeover offer for CATCo, with shareholders now in line to pick up USD0.331 per share, an increase of 1.63% compared to the accelerated return under the previously announced transaction. Notes C shares will receive USD0.579 per share, an increase of 1.2%. Markel is CATCo's manager.
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Oncimmune Holdings PLC - Nottingham-based immunodiagnostics developer - Notes Regional Ministry of Health for Aragon, Spain announces company's Early CDT Lung blood test is to be adopted by the Thoracic Surgery Unit of the University Hospital Miguel Servet, Zaragoza, for use on solitary pulmonary nodules. "This approval follows the issuing of a favourable assessment and report by the Evaluation Committee of the Aragonese Health System having met the necessary criteria with regards to efficacy and safety," company explains. Believes this "positive assessment" is "important development" towards the adoption of the blood test by other regional public health systems in Spain.
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Novacyt SA - Surrey-based biotechnology group focused on clinical diagnostics - Gets approval for PROmate Covid-19 2G real-time PCR test in UK. "The PROmate Covid-19 2G test is the first direct-to-PCR product to be added to the Coronavirus Test Device Approvals register of approved products and is designed to detect two SARS-CoV-2 targets within ORF1ab in response to an increasing shift from single-gene to multi-gene testing solutions," company explains.
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Impact Healthcare REIT PLC - London-based real estate investment trust focused on healthcare properties - Raises gross proceeds of GBP40.0 million through issue of 35.1 million shares at 114 pence per share. Says proceeds will be used for a "significant proportion" of its "near-term attractive investment pipeline". Will have 385.7 million shares in issue following the fundraise. Chair Rupert Barclay says: "Our portfolio and sector remain well positioned, with supportive longer-term structural trends including an ageing population and a shortage of the good quality care homes that we invest in, with our tenants continuing to report improved trading conditions. In addition, our tenants and wider sector have an established history of being able to withstand inflationary pressures, whilst our long inflation-linked leases with high calibre tenants provide us with further confidence for the future."
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Resolute Mining Ltd - Perth, Australia-based gold miner with projects in Mali, Senegal and Guinea - Says updated mineral resource estimate from ongoing exploration at Tabakoroni confirms the potential for a new open pit or underground gold mine. Notes global measured and indicated mineral resource estimate updated to 9.2 million tonnes at 4.4 grammes per tonne for 1.3 million ounces of gold - which represents a 40% increase over the previous estimate.
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Nostra Terra Oil & Gas Co PLC - Texas-focused oil and gas explorer - Spuds second well in the Cypress farm-out area at company's Pine Mills oil field. Drilling can reach total depth of 6,000 feet and is expected to take about 10 days. "The primary target is the prolific Woodbine Sand, but the well will also evaluate several other up hole formations prior to reaching total depth," company says. Owns a 32.5% working interest in the well. Drilling will be followed by logging and then completion operations. Chief Executive Matt Lofgran says: "If successful, the Fouke 2 will immediately be put into production, further increasing our reserves, production and most importantly our cashflow."
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Zephyr Energy PLC - London-based oil and gas investment company - Completes USD36 million acquisition of non-operated working interests in currently producing and near-term production wells in the Williston Basin, North Dakota, US. The deal includes working interests in 163 currently producing wells with an average working interest of about 4%, and a further 18 drilled but uncompleted wells - which are scheduled to come online by the end of June 2022, with 47 other locations to be drilled in the future. Acquisition first agreed back in November. Notes proved reserves acquired were estimated, by third party consultant Sproule Inc, to be 2.7 million barrels of oil equivalent, with an estimated post-tax net present value of USD57.1 million.
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Future Metals NL - Australia-focused platinum group metals explorer - Reports shallow, wide PGM assay results from resource drilling at its 100% owned Panton project in northern Western Australia. Results show JORC mineral resource estimate of 14.3 million tonnes at 4.98 grammes per tonne PGM and 0.31 grammes per tonne for 2.4 million ounces. Results from the exploration holes includes 18.3 metres at 1.95 palladium equivalent from 74 metres and 2.6 metres at 2.80 palladium equivalent from 8 metres.
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Panthera Resources PLC - London-based gold exploration and development company with assets in Africa and India - Sees "highly encouraging" assay results from drilling at Bassala project in Mali. Samples includes 25 metres at 0.87 grammes per tonne gold from surface including 5 metres at 2.96 grammes per tonne gold from 10 metres. Also includes 5 metres at 2.45 grammes per tonnes from 5 metres. Managing Director Mark Bolton says: "Almost all of the targets tested are sizeable geochemical targets, many with economic grade intercepts already returned. Many of the intercepts were at the end of drill holes, showing the mineralisation is open at depth and representing excellent targets for deeper drilling. The next step, once the geological interpretation has been completed, will be to test the known mineralisation with deeper and closer spaced drilling, aimed at identifying zones of coherent mineralisation that may represent resource definition targets."
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Cora Gold Ltd - British Virgin Islands-based gold company focused on West Africa - Starts new 2022 drill programme at its flagship Sanankoro gold project in Southern Mali. An initial programme of 7,500 metres of reverse circulation drilling has been planned. Notes 2021 drill programme delivers sharp increase of the pit constrained mineral resource estimate to 21.9 million tonnes at 1.15 grammes per tonne gold for a total of 809,300 ounces gold. Chief Executive Bert Monro says: The project's potential as an open-pittable, free-digging oxide mine has been established and through this drill programme and the definitive feasibility study, which remains on track to be delivered in H1 2022, we are committed to building on existing resources and creating additional value for the company."
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By Paul McGowan; paulmcgowan@alliancenews.com
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