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Pin to quick picksIntuitive Inv Share News (IIG)

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TRADING UPDATES: SDX supports takeover by Tenaz; Marlow buys

Wed, 25th May 2022 20:03

(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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Ediston Property Investment Company PLC - Edinburgh-based real estate investment company - In the six months to March 31, property portfolio increases by 11.2% like-for-like. Net asset value per share grows 7.1% to 96.1 pence at March 31, from 89.7p at September 30. NAV total return for the six months is 10%, compared with 0.3% a year before. Monthly dividends will continue to be paid out, at 0.42p a share, with no plans to increase the figure. "The company has made significant progress over the last 12 months. It is close to completing the restructuring of its portfolio in line with its revised investment strategy and is now focused on the retail warehouse sector. This is a part of the market that is now performing strongly," says Chair William Hill.

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Regional REIT Ltd - London-based real estate investment trust - Says rent collection in the first quarter was 97%, up year-on-year from 93%. Declares dividend of 1.65p for the period, an increase of 3% year-on-year from 1.60p. Will be paid as REIT property income distribution, it says. "Regional REIT is strongly positioned as it continues to deliver on its investment strategy of providing a de-risked office portfolio, which in-turn will drive shareholder income and value over the long-term," firm says.

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Hercules Site Services PLC - Cirencester, England-based labour supply company for the infrastructure sector - Expects to see "step-up" in growth driven by High Speed rail contracts, and reaffirms positive outlook at annual general meeting on strong demand and orderbook, but notes rising inflation as a headwind for the market more generally.

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Mortgage Advice Bureau Holdings PLC - Derby, England-based mortgage advice provider - Says trading in the first quarter has been strong, with mortgage completions up 11% year-on-year to GBP5.8 billion, and boasts robust pipeline of incoming new representatives and advisors, as well as written new business. Trading since the period has also been in line with internal expectations.

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Majedie Investments PLC - London-based investment trust - In the half year ended March 31, net asset value total return is minus 8.2%, as NAV per share at period-end drops to 257.0p from 280.2p a year before, and 287.1p at September 30. Declares interim dividend of 4.4p, unchanged YoY. Notes outlook has weakened due to inflation and the war in Ukraine, but the UK markets continue to perform well due to commodities.

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Marlowe PLC - London-based software and services for safety and regulatory compliance - Acquires Cedrec Information Systems Ltd for GBP3.0 million. Cedrec is a digital platform providing data on Environmental, Health & Safety, based in Gateshead. It generated GBP1.3 million in revenue with adjusted earnings before interest, tax, depreciation and amortisation of GBP450,000 in the year to April 30.

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Goodbody Health Inc - Vancouver, Canada-based cannabidiol products company formerly known as Sativa Wellness - Says first quarter comprehensive profit is GBP100,000; its highest to date, with adjusted Ebitda of GBP230,000. Revenue is GBP5.2 million, its second-best quarter to date following the final quarter of 2021. "The strategic direction of the group remains clear. We will continue to grow both our diagnostic and wellness services as well as the network of partners with which we operate. The ongoing COVID testing revenue in Q1 was positive but also delayed our diversification and growth plans, however they are still very much on track," says Executive Chair Geremy Thomas.

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Puma VCT 13 PLC - venture capital trust - Declares interim dividend of 40p. Board recommends voluntary liquidation and to return additional funds to shareholders via capital distribution or distribution by liquidators. Appoints Asher Miller and Stephen Katz of Begbies Traynor (London) LLP as joint liquidators. Will host general meeting to vote on the cancellation of its listing on June 23.

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Accsys Technologies PLC - London-headquartered wood building products manufacturer - Raises EUR20 million in placing of 13.6 million shares at EUR1.45 per share, with new shares representing 7.2% of its existing share capital, and the price at a discount of 10% to the closing price in Amsterdam on Tuesday. Will use funds to fund additional costs at Arnhern, and as working capital. Also says Accoya wood revenue is up 15% year-on-year to EUR105 million, and it expects annual Ebitda to be in line with guidance.

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Tertiary Minerals PLC - Cheshire, England-based precious metals mining company - Revenue in the six months to March 31 rises to GBP89,906 from GBP81,495 year-on-year, as pretax loss widens to GBP604,193 from GBP223,663. Continues to focus on project portfolio development, beginning field operations in Zambia and will begin planned trenching programme in Nevada shortly.

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Conygar Investment Co PLC - property investment and development group - Extends non-binding exclusivity with Wholesale Fruit Centre Ltd in Bristol regarding potential acquisition of 14.7 acres at the Bristol Fruitmarket Site in St Philips Marsh area of Bristol. Extension will last until July 5.

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Genflow Biosciences PLC - London-based biotechnology company - Files international patent application in US related to variants of Sirtuin-6 and the gene variant's therapeutic uses in the regulation of ageing and treating ageing-related disease. Patent is jointly filed with University of Rochester. "The company believes that the invention set out in the Application has the potential to enhance both health-span and, possibly, life expectancy. The SIRT6 gene variant found in centenarians (people aged more than 100 years old) has demonstrated significant capabilities in epigenetic tissue rejuvenation and therefore, constitutes an excellent target to prevent and treat age-related diseases. The ability of SIRT6 to act on the rejuvenation of cells is indicative of the SIRT6 gene mutation's potential to not just halt the aging process, but to reverse it," the firm explains.

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Atlantic Lithium Ltd - developing Ewoyaa lithium mine in Ghana - Confirms it has signed a non-disclosure agreement for discussions regarding a potential investment into the company by Ghana's Mineral Income Investment Fund, following media reports. No discussions have occurred at this stage, it says.

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Seed Innovations Ltd - Guernsey-based wellness and life sciences firm - Notes an announcement from investee Yooma Wellness Inc that it has now been reinstated for trading on the Canadian Securities Exchange following a period of suspension.

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SDX Energy PLC - London-based oil and gas company focused on Egypt and Morocco - To be acquired by Tenaz Energy Corp in a deal valuing SDX at GBP21.4 million. SDX shareholders will receive 0.075 of a Tenaz share for each SDX share. SDX shareholders will hold a 36% stake in Tenaz upon completion. "SDX and its assets across Egypt and Morocco are well suited to Tenaz's stated objectives and corporate M&A strategy. Both countries fall within Tenaz's primary geographic focus and create a production base from which to build a regional presence of significant scale," firm explains. SDX board is in support of the deal, recommending shareholders vote in favour at the general meeting to come.

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M Winkworth PLC - London-based estate agent - Says revenue in the first quarter was in line with its expectations, as sales and rentals perform well. "Applications for sales and lettings in the second quarter are, to-date, above expected levels and business is robust. Our new franchising pipeline is in very good shape and our wholly-owned offices continue to make solid progress," firm says. Says annual outlook depends on how interest rates develop, but expects the year to be "significantly up" on 2019, its last year of normalised trading. "It may, however, be difficult to exceed the record levels achieved in 2021," the company says.

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Intuitive Investments Group PLC - closed-end investment company focused on life sciences sector - Reports NAV per share as at March 31 at 18.73p, down from 19.55p at the same time last year.

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British Honey Co PLC - Buckinghamshire-based spirits and honey producer - Terminates joint venture with Tusmore Park Farms Ltd, which had been focused on operating a new whisky distillery and bonded warehouse in Oxfordshire on land owned by Tusmore. BHC will receive GBP450,000 from Tusmore, as a refund of the GBP750,000 investment made by BHC. Chief Financial Officer Jonathon Morley-Kirk resigns with immediate effect, citing increasing business commitments, but will stay on as head of finance in the short term while BHC finalises results and finds a replacement.

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By Elizabeth Winter; elizabethwinter@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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UK shareholder meetings calendar - next 7 days

Friday 23 February 
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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31 Jan 2024 14:30

EARNINGS: BSF Enterprise "making great strides", Sylvania ups earnings

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

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28 Nov 2023 18:14

TRADING UPDATES: Sopheon extends bid deadline; Fenikso receives funds

(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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TRADING UPDATES: Bezant optimistic after Hope & Gorob estimate

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

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TRADING UPDATES: Limitless Earth loss widens; Black Sea NAV rises

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

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UK shareholder meetings calendar - next 7 days

Monday 24 July 
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Cranswick PLCAGM
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B&M European Value Retail SAAGM
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JZ Capital Partners LtdAGM
MITIE Group PLCAGM
Molecular Energies PLCAGM
Polymetal International PLCAGM
Safestay PLCAGM
Verditek PLCAGM
Vodafone Group PLCAGM
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Blackstone Loan Financing LtdAGM
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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11 Jul 2023 11:19

Intuitive Investments names veteran chair as eyes move to Main Market

(Alliance News) - Intuitive Investments Group PLC on Tuesday said it has named the experienced Nigel Rudd as its next independent non-executive chair, subject to it moving to a London listing on the Main Market, from its current position in the junior market.

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IN BRIEF: Intuitive reorganises businesses, amends deal structure

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IN BRIEF: Intuitive buys 50 million Yourgene Health shares

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