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TRADING UPDATES: Mobile Streams wins deal; East Imperial revenue jumps

Thu, 13th Jan 2022 20:20

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

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Mobile Streams PLC - London-based mobile content provider - Wins "major strategic partnership contract" with International Gaming Systems. Says pact will "deliver significant revenue to the company". Company tips monthly revenue across all services to top USD120,000 in January. "The revenue share contract with IGS will see IGS's gaming and entertainment services launched and made available globally via the MOS website mobilegaming.com and via MOS telco contracts when ready," Mobile Streams says.

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East Imperial PLC - London-based premium mixers maker - To raise GBP3.4 million "to support the company's intentions to accelerate its expansion". Says 32.4 million shares to be placed at 10.5 pence each. In addition, company says 2021 revenue jumped 60% and returned to pre-virus levels. "Importantly, the company also benefited from a more diversified revenue stream in 2021 following strong progress implementing a multi-channel strategy. The board is confident of delivering further progress this year, both on-trade and off-trade, and in particular through further geographic expansion in the US and other key markets," East Imperial adds.

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Bakkavor Group PLC - London-based fresh prepared food company - Says revenue in year to December 25 grew and margins were "ahead of expectations despite persisting industry challenges". Revenue in full year up 4.4%, or 6.2% like-for-like. "Operating margin is expected to be ahead of previous guidance and at the top end of the range of current market expectations of 5.0%-5.2%," Bakkavor adds.

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Infrastructure India PLC - Investor in infrastructure assets in India's energy and transport sectors - Agrees deal with some creditors to withhold demanding payment for invoices due in January until at least March. In December, company warned it did not have enough cash reserves to meet creditors as they fall due beyond January. "The payment extension provides the company with cash runway to the end of February 2022 to source the funding required to ensure the group has adequate funding to continue to meet liabilities as they fall due," company says. Adds: "To realise funds within the short term, management continues its advanced discussions with regard to the sale of IEL. The group has received a Letter of Intent signed by a third party with respect to the sale of IEL and documentation is currently being negotiated."

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Anglo Asian Mining PLC - gold, copper and silver producer focused in Azerbaijan - Says 2021 output within guidance, at 64,610 gold equivalent ounces, down from 67,249 in 2020. Chief Executive Reza Vaziri says: "This was achieved despite the logistical difficulties and other disruption due to the COVID-19 pandemic in the first half of the year." CEO adds: "It has been an exciting year for the Company. We are developing new opportunities to grow both in Azerbaijan and abroad, with the three additional contract areas in Azerbaijan, and our recent strategic investment in Libero Copper & Gold Corporation."

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MJ Hudson Group PLC - asset management consultancy - Wins "multi-year" contract to advise the ACCESS local government pension scheme on illiquid and private markets investments. MJ Hudson adds: "This is expected to be a multi-million pound contract, over the next seven years."

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Johnson Service Group PLC - Cheshire, England-based textile services - Says volumes in November and December in line with pre-Covid levels for Workwear segment. In HORECA, which refers to food service and hotel industries, volumes were at 77% of normal times. "However, the challenges of the new COVID-19 variant on the hospitality sector in the final two weeks of December reduced volumes during that period to approximately 60% of normal. Notwithstanding this, we expect to announce 2021 full year results ahead of the expectations referred to in our Trading Update published on 24 November 2021," Johnson Service adds. "Current COVID case rates have continued to impact demand at the start of 2022 in HORECA but we continue to anticipate further recovery of the hospitality sector as we progress through 2022."

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Allergy Therapeutics PLC - Sussex-based biotechnology firm focused on allergy vaccines - Says revenue in six months to December 31 to fall 10% to GBP48.7 million from GBP54.0 million. "Reported revenue for the year is likely to be down on the 2021 financial year by an upper single digit percentage, but through planned cost reductions in the second half of the year, the board remains confident that market consensus for the operating profit pre R&D this financial year will be achieved," Allergy Therapeutics says. Submits investigational new drug application for VLP Peanut to US Food & Drug Administration.

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Intelligent Ultrasound Group PLC - Cardiff, Wales-based artificial intelligence ultrasound software firm - Expects revenue for 2021 to have risen 47% to GBP7.6 million from GBP5.2 million in 2020. "The group remains confident that the expected increase in face-to-face medical exhibitions and congresses, that are fundamental to the launch process of the group's new products, and the continued roll-out of ScanNav Assist and PNB will accelerate AI revenue growth in 2022," company adds. Expects operating loss between GBP4.2 million and GBP4.4 million, narrowing from GBP4.5 million in 2020.

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Polar Capital Holdings PLC - asset manager - Says assets under management in nine months to December 31 rise 16% to GBP24.31 billion from GBP20.86 million at end of March. Net subscriptions amount to GBP806 million, while market movements add GBP2.64 billion.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Infrastructure India notes recall notice for project debt

Infrastructure India PLC - infrastructure fund investing directly into assets in India - Notes loan recall notice received by Distribution Logistics Infrastructure India Ltd from the lenders to DLI's project debt. Notes that in late March, DLI was granted a period of grace for debt servicing by its Indian lenders until February and DLI management had been in discussion with its lenders regarding settlement of its dues. Says a loan recall notice in India is a precursor for the lenders to DLI to invoke the insolvency and bankruptcy code if DLI presents no satisfactory response to the notice within two weeks from the date of issue. Infrastructure India says it is in discussions with a third party and has received preliminary terms for the sale of DLI. Says these discussions are ongoing, although there can be no guarantee that these will lead to an agreement to sell DLI. Says it is liaising with DLI on this matter and will provide shareholders with further updates "as appropriate in due course".

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IN BRIEF: Infrastructure India to extend maturity of debt facilities

Infrastructure India PLC - infrastructure fund investing directly into assets in India - Announces that the documentation to extend the maturity of its debt facilities has been finalised. Explains the debt facilities include the term loan provided by IIP Bridge Facility LLC, the working capital loan provided by GGIC Ltd and the bridging loan provided by Cedar Valley Financial. Notes the term loan is a USD119 million principal secured facility, the unsecured working capital loan is for USD17 million and the unsecured bridging loan was USD64.1 million in March 2019.

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Infrastructure India no longer selling Distribution Logistics

(Alliance News) - Infrastructure India PLC on Thursday said it will no longer be selling Distribution Logistics Infrastructure Private Ltd.

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15 Jan 2024 18:39

IN BRIEF: Infrastructure India extends debt facility maturity dates

Infrastructure India PLC - infrastructure fund investing directly into assets in India - Agrees extension to the maturity dates of all its debt facilities, being the term loan provided by IIP Bridge Facility LLC, the working capital loan provided by GGIC Ltd and the bridging loan provided by Cedar Valley Financial. All three have been extended to February 29.

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IN BRIEF: Infrastructure India says disposals nearing completion

Infrastructure India PLC - infrastructure fund investing directly into assets in India - Says it expects to release 2023 results in the first quarter of 2024. Will be able to publish interim results immediately afterwards. Also expects to convene an annual general meeting in the first quarter. Says results delay is due to delays in the disposal of Distribution Logistics Infrastructure Private Ltd. Says this transaction allows it to remain invested in the Indian logistics sector and is expected to realise enhanced value for shareholders at the time of exit, most likely within 24 to 36 months from closing. Says both Distribution Logistics and buyer Pristine Malwa Logistics Park Private Ltd are "working diligently towards completion", with "certain complex issues" now "nearing resolution". Currently expects to complete sale by January 15. Adds that planned sale of Indian Energy Ltd to FA Power Renewables Private Ltd, closing of which was delayed due to "regulatory matters", is now close to finalisation.

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15 Dec 2023 22:03

IN BRIEF: Infrastructure India agrees loan maturity extensions

Infrastructure India PLC - infrastructure fund investing directly into assets in India - Says it has agreed to an extension of the maturity dates for all of its debt facilities, which are currently provided by GGIC Ltd, IIP Bridge Facility LLC and Cedar Valley Financial. Notes its term loan provided by IIP, worth USD119 million, will be extended to January 15. Says it unsecured working capital loan and unsecured bridging loan have also been extended to January 15.

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IN BRIEF: Infrastructure India's annual report release to be delayed

Infrastructure India PLC - infrastructure fund investing directly into assets in India - Says it will not be in a position to publish the 2023 annual report by September 30, as required by AIM. Explains this relates to the sale, announced on September 6, of its interest in Distribution Logistics Infrastructure Private Ltd. Points out certain disclosures in the annual report in relation to the valuation of its interest in DLI are unable to be published due to Securities and Exchange Board of India restrictions. Therefore, trading in shares will be suspended from October 2. Expects to be in a position to complete the audit and to report its 2023 annual report prior to the end of 2023.

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