(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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SIG PLC - London-based supplier of insulation, roofing, commercial interiors and specialist construction products - Has made an encouraging start to the year, with January and February sales volumes picking up strongly and March and April trading ahead of management's expectations. For first quarter to April 30, like-for-like sales grew 29%, having declined 4% in the same period in 2019.
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Accsys Technologies PLC - wood building products manufacturer - Proposes placing to raise EUR33 million and open offer to secure EUR4 million. "The net proceeds of the Issue will be used primarily to fund the company's investment in expanding its Accoya business into North America," Accsys says. Plans to build new Accoya plant in US, as part of joint-venture with Eastman Chemical Co.
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TClarke PLC - London-based building services company - Hails "positive" first four months of 2021, in line with expectations, and adds that order book hits new record level of GBP472 milllion, improved from GBP382 million a year earlier. "The board is particularly encouraged by the growth of the forward order book and importantly the number of significant opportunities that TClarke is well-placed to secure across all of our market sectors, as we move forward with our strategy to grow revenues to GBP500 million, whilst maintaining our underlying margins," company adds. Adds Jonathan Hook to board as non-executive, effective July 1. Hook is currently a partner at PricewaterhouseCoopers.
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InfraStrata PLC - London-based strategic infrastructure projects company - Raises GBP10.3 million in placing and adds open offer will secure additional GBP1.4 million. "The company is on the cusp of a transformational change following the award of the Saipem contract. We believe that this contract is the first of many that will flow through our yards over the forthcoming months and years. Key to winning and delivering on these large contracts is the ability to demonstrate a strong balance sheet and liquidity within the company's operations. This placing will achieve both these objectives and we look forward to making further announcements on contracts in due course," Chief Executive Officer John Wood says.
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Coral Products PLC - Manchester, England-based plastic products supplier - Exchanges contracts for sale of freehold premises at North Florida Road Haydock, Merseyside for GBP3.5 million to Glenbrook CP Ltd. Declares 0.5 pence per share interim dividend, having paid no interim payout in prior year.
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Directa Plus PLC - London-based producer of graphene nanoplatelets-based products for consumer and industrial use - Granted EU patent covering production process for G+ graphene nanoplatelets. "Following the grant of the patent, Directa Plus's IP portfolio will comprise 16 patent families with 48 patents granted and 20 patents pending," Directa says.
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Johnson Service Group PLC - Cheshire, England-based textile rentals - Says trading in first four months of 2021 still hit by lockdowns but notes beginnings of increased demand as curbs ease. "Workwear volumes in March were some 96% of normal levels and we have seen a slight continuous improvement during April as more businesses were allowed to open," company says. "We continue to be confident in our ability to be agile and responsive to increasing volumes from our customers as the hospitality market recovers over the coming months."
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Getech Group PLC - Leeds-based geoscience and geospatial products firm - Green hydrogen unit H2 Green Ltd signs non-binding pact with Element Two Ltd to supply supply green hydrogen to their refuelling stations. "Pursuant to the strategic agreement, the parties have committed to a 12-month negotiation framework, with the aim to: agree and progress a joint asset development road map; build an initial demonstration project; and negotiate and conclude a binding long-term co-development and off-take contract," Getech says.
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Inland Homes PLC - Beaconsfield, Buckinghamshire-based house builder and brownfield developer - Receives planning permission, subject to signing of section 106 agreement, for 700 new homes and 25,000 square metres of of commercial space at Gardiners Park Village, Basildon. "Construction is expected to commence this autumn, following the signing of a Section 106 agreement within the current financial year and subsequent release of the planning permission. In total, around 220 of the 700 new homes on the 54-acre site will be designated as affordable housing for both rent and shared ownership," company adds. "The 54-acre site will have a gross development value in the order of GBP200 million and the land will be acquired in phases over a five-year period."
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McBride PLC - Manchester-based domestic household and professional cleaning and hygiene products - Warns fourth-quarter sales are expected to be significantly weaker than first nine months. McBride points to rapid, significant and sustained price escalation for many raw materials. Says revenue volatility continues to be a challenge in most markets. Profit for financial year ending June 30 is now expected to be 15% lower than the previous year.
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Integrated Diagnostics Holdings PLC - consumer healthcare firm with operations in Egypt, Jordan, Sudan and Nigeria - Gets approval from the Egyptian Exchange listing committee for dual listing of shares on the EGX's main market. "With the EGX's approval, IDH has now completed the regulatory requirements necessary for the company's listing on the EGX," IDH adds.
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Proteome Sciences PLC - drug development services provider - Continues promising trading at start of 2021 following strong end to 2020. "Having closed 2020 with a strong final quarter and order book carried forward, we are pleased to report that the same pattern has continued during the first quarter of 2021," Chair Christopher Pearce says.
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Tiziana Life Sciences PLC - London-based therapeutics for oncology, inflammation and infectious diseases - Strikes strategic pact with Takanawa Japan KK to identify clinical partner in Asia for development of Milciclib to treat hepatocellular carcinoma sufferers. HCC is a form of liver cancer. "We are pleased and excited to work with Takanawa, a firm with a distinguished history of business development activities in the Japanese pharmaceutical industry, to identify an appropriate partner in Japan for further clinical development of Milciclib. We believe the positive clinical activity in advanced HCC and other cancers warrant immediate further development in Japan and other Asian countries where the prevalence of this cancer is relatively high, and the current available therapies are not entirely satisfactory," Tiziana Chief Executive Officer Kunwar Shailubhai says.
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Omega Diagnostics Group PLC - sells wide range of specialist products, primarily in the immunoassay, in-vitro diagnostics market - Says mologic Covid-19 lateral flow antigen test found to have 100% specificity and 96.4% sensitivity compared with laboratory PCR testing during probe in Germany.
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Oncimmune Holdings PLC - Nottingham-based company which makes cancer diagnostic tests - Acquires intellectual property and distribution rights of EarlyCDT portfolio in China and Hong Kong from Genostics Co Ltd. "Under the agreement announced today, all material, IP, data, and goodwill will be transferred back to the company, and Oncimmune will be paid in full for the royalties due in January 2021 under the existing Technology Licencing Agreement. In consideration, Oncimmune has agreed to pay a fixed amount for the return of the IP and distribution rights, with the majority of the value of the consideration being conditional on fixed future events," Oncimmune says.
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Amryt Pharma PLC - biopharmaceutical company - Says revenue up 8.7% annually in first quarter to USD48.4 million. Says operating loss before finance expense narrows to USD3.4 million from USD17.0 million. "Q1 was extremely busy and we delivered a number of commercial and regulatory successes during the quarter. Our two commercial products, metreleptin and lomitapide, continue to deliver solid growth across a host of metrics including revenue, EBITDA growth, cash generation and market expansion," CEO Joe Wiley says.
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Remote Monitored Systems PLC - investment company - Says main drivers in recent months have been to strengthen manufacturing and supply chain for main subsidiary Pharm 2 Farm Ltd, develop P2F's sales pipeline, and complete a strategic review of the company. Says P2F is "confident that it now has a smooth running, high-quality supply chain" following manufacturing issues. RMS will now start search for permanent chief executive.
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Alternative Income REIT PLC - invests in UK commercial property assets let on long leases - Receives 88% of rent for current quarter, with further 10% due in remainder of quarter. Has collected 97% of rent since start of pandemic. "However, despite the progressive easing of lockdown restrictions, the board recognises that the remainder of 2021 is likely to be particularly challenging for the hotel and leisure sector as capacity restrictions continue," Alternative Income says. Declares 1.25 pence per share payout for quarter ended March 31, up 25% quarter-on-quarter. Net asset value per share up 0.5% quarter-on-quarter to 85.13p from 84.68p.
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UK Commercial Property REIT Ltd - real estate investment trust - Says NAV per share rises 1.5% quarter-on-quarter to 88.0p on March 31, from 86.7p. Says second quarter rent collection stands at 86%, after allowing for agreed rent deferrals. Declares 0.644p quarterly payout, up 40%.
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Baillie Gifford China Growth Trust PLC - aims for long-term capital growth by investing in Chinese companies - Proposes placing of 5.8 million shares. Issue price will be equal to net asset value per share at May 27, plus 3%. "The net proceeds of the placing will be invested in accordance with the company's investment policy that aims to produce long-term capital growth by investing predominantly in shares of, or depository receipts representing shares of, Chinese companies," company adds.
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Atlas Mara Ltd - Sub-Saharan Africa banking investor - Says standstill agreement with lenders extended to May 17, "in order to provide additional time to complete binding legal agreement relating to restructuring discussions". "To date, the company has announced assets sales in Mozambique, Rwanda, Tanzania, and more recently in Botswana. Having secured regulatory approval for the transactions in Mozambique and Botswana, the company is now working towards completion of these previously announced transactions," Atlas Mara says.
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Permanent TSB Group Holdings PLC - Dublin-based personal and small business bank - Says new lending rises 22% annually in first quarter to EUR400 million. Mortgage market share improves to 17.9% from 14.7% in year prior. "Net interest income decreased by 10% in the first quarter of 2021, when compared to the same period in 2020. This reflects lower income post the performing loan sale transaction (Glenbeigh II) in quarter four 2020, together with lower treasury income as a result of the low interest rate environment," company adds.
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Nucleus Financial Group PLC - Edinburgh-based financial services provider - Suitor James Hay Holdings Ltd says takeover offer unconditional as to acceptances. Level of acceptances as of May 8 was just under 92%.
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Arricano Real Estate PLC - developer and shopping mall operator in Ukraine - Made aware of dispute between former Estonian significant shareholders of company and government of Ukraine. "The dispute relates primarily to an alleged loss of value in excess of USD750 million as a result of the disputed ownership of the Sky Mall shopping centre," company says. "Arricano wishes to clarify that it is not a party to the notice of dispute."
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AEW UK REIT PLC - commercial real estate investment trust - Acquires Arrow Point Retail Park in Shrewsbury for GBP8.4 million. "We are pleased to have acquired the Arrow Point Retail Park. This is an excellent fit for our portfolio and an excellent new contributor to AEWU's income stream, putting to use the profit from the sale of the Solihull office asset in February this year," Portfolio Manager Alex Short says.
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Mosman Oil & Gas Ltd - New South Wales-based oil exploration, development and production company - Says survey at EP 145, located in Northern Territory of Australia, allowed to proceed as no Covid-19 curbs in place in region. "This survey is able to proceed in the near future once a contractor is selected and equipment is available," Mosman adds.
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Galileo Resources PLC - miner with projects in Botswana, Zambia and South Africa - Says drilling of licences at Kalahari copper belt, Botswana, to begin this week. Galileo says: "A contract has been signed with an experienced Botswana drill operator for a minimum of 2,500 metres of diamond drilling in up to ten first priority holes, with drilling planned to commence in the current week."
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Kavango Resources PLC - exploration company focused on Botswana - Says Spectral completes third time domain electromagnetic survey at Target Area A at Kalahari Suture Zone project in Botswana. "As the results come in from Kavango's extensive TDEM surveying programme and are processed and interpreted, the Company expects to start planning a drilling programme. The exact timing and extent of such a programme remains to be determined, but it is currently considered likely that it will include drilling inclined holes of up to 450 metres through the conductive target at A2 that will aim to intercept the conductor at roughly 400 metres," Kavango says.
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Arc Minerals Ltd - exploration company focussed on Africa - Notified by Golden Square Equity Partners Ltd that Golden Square has received approach by a potential buyer of Casa interests. A deal requires consent of Arc Minerals. "Arc Minerals has reviewed the transaction, which it believes is more attractive than the previous transaction that was agreed with Golden Square and has given its conditional approval of the transaction," Arc adds. Stands to receive USD750,000 in cash from Golden Mining, the potential buyer, should deal go ahead.
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Zanaga Iron Ore Co Ltd - iron ore miner focused on Republic of Congo - Says plan to update cost estimates of 12 million tonnes per annum stage one project at Zanaga iron ore project completed. Says operating cost estimates stays in line with 2014 feasibility study guidance. Says second and third tranche of shares from Shard Merchant Capital Ltd subscription issued.
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i3 Energy PLC - oil & gas company with assets and operations in the UK and Canada - Says first quarter average output was 8,856 barrels of oil equivalent per day, topping expectations. Says 2021 full-year net operating income expectations increased to CAD38 million, about USD31 million. "We are very pleased with the performance of our portfolio in the first quarter of 2021, with production levels continuing to be above expectation. We continue to evaluate opportunities to extract incremental value from our portfolio and look forward to completing the first of these initiatives with the tie-in of the Noel well in the middle of the year," Chief Executive Officer Majid Shafiq says.
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Xtract Resources PLC - copper-gold projects in Australia, Mozambique and Zambia - Says phase two drilling of Eureka copper-gold deposit, Zambia confirms extension of mineralised zone to north-west area. "Three holes assayed so far from the pit development reconnaissance programme return the best copper grades to date beneath the current open pit," Xtract says. Executive Chair Colin Bird says there is potential for open pit extension to over 300 metres.
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Edenville Energy PLC - operating of the Rukwa coal project in southwest Tanzania - Gets proposal for GBP1.0 million strategic investment from Anthony Buckingham, as part of GBP2.5 million placing. Deal would give Buckingham just shy of 19% stake in company. Edenville notes Buckingham was former CEO of Heritage Oil Ltd, before its acquisition by Qatari investment fund. "His wealth of experience and broad network of relationships is expected to prove highly beneficial as Edenville looks to add additional assets into the company as previously announced," Edenville adds. Company notes it raises GBP2.5 million from placing of 9.9 million shares at 25p each.
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Empyrean Energy PLC - oil & gas development company with interests in China, Indonesia and US - Says comprehensive analysis completed of drilling data from wekks at Jade prospect, Block 29/11, offshore China. Also includes data from wells owned by China National Offshore Oil Corp. "A robust well design for the Jade prospect has been finalised after considering two casing design options," Empyrean says.
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Cora Gold Ltd - West Africa-focused gold explorer - Reports further "strong results" from drilling at Sanankoro gold project, Mali. "We have now completed over 11,000 metres of drilling in this programme and during May we are mobilising two further rigs and additionally a booster compressor has just arrived on site. We plan to start drilling deeper holes within a week as we aim to push the shallow inferred resource pit deeper," CEO Bert Monro says.
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Corcel PLC - natural resources explorer and developer focused on battery metals - Says progressing Burwell energy storage project, with grid connection obligations extended to December. Says talks underway with Resource Mining Corp for settlement of Corcel's AUD4.8 million debt position. Also notes mining lease application at Mambare nickel and cobalt project continuing.
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Power Metal Resources PLC - metal exploration and development company - Receives notice that exploration licence at Kisinka, copper and cobalt project in Congo converted to 25-year production licence. "Our exploration work at Kisinka since 2019 has been carried out in a systematic and disciplined manner with increasingly promising copper and cobalt results, and we look forward to the upcoming drill programme," Chief Executive Officer Paul Johnson says.
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Botswana Diamonds PLC - diamond exploration company with licenses in Botswana and South Africa - Diamond miner reports discovery of new, second kimberlite blow at the Thorny River project in South Africa.
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Scirocco Energy PLC - AIM-listed investment firm seeking production and development opportunities within the European energy market - Receives USD500,000 settlement from subscription agreement. This takes total settlement to USD925,000 of USD1 million subscription.
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Mirada PLC - London-based broadcasting technology firm - Expects revenue and pretax profit to be in line with market expectations for year ended March 31. "After the global impact of the Covid-19 pandemic during much of 2020, trading improved during the second half of the financial year as customers re-commenced their investment plans, driven by end-user demand for OTT platforms and online content," Mirada says. "Between launch in September 2020 and the end of the fiscal year on 31 March 2021, more than 450,000 Android TV hybrid set-top boxes were deployed amongst the subscriber base of Mirada's customers."
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Personal Group Holdings PLC - Milton Keynes-based employee benefits firm - Chair Mark Winlow says number of "strategic initiatives" give company confidence. Winlow praises company's ability to sell insurance benefits over phone and video conferencing, so in line with social distancing restrictions. "This will help us to acquire, retain and recapture policyholders in the longer term," Winlow adds.
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Amedeo Air Four Plus Ltd - investment company that buys, leases and sells aircraft - Says quarterly payouts suspended until rehabilitation of Thai Airways and new pact with lenders agreed. Says this is expected to occur in June or July, and will aim to reinstate a "sustainable" payout policy following this. "Shareholders will be aware that we have maintained interest payments to our Thai lenders, having entered into forbearance agreements with these banks, as we believe that the eventual resumption of payments from Thai Airways and an agreement on long term debt restructuring will result in the company being in a far stronger position than allowing the debt to default and resulting in the repossession of the Thai aircraft," Amedeo says.
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Eckoh PLC - Hertfordshire-based payments technology firm - Says performance in year ended March 31 in line with expectations, and notes operation profit came in at GBP4.7 million, "slightly" topping prior year. "Following record total order levels last year of GBP35.9 million, we secured total orders in FY21 of GBP30.7 million, with GBP16.7 million in the second half. This is an excellent outcome given the continued disruption and uncertainty in market conditions, which were particularly acute in the first half of the financial year," Eckoh adds.
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Global Ports Holding PLC - London-based cruise port operator - Signs 20-year concession agreement in Italy and begins management of cruise terminal and cruise services in the Port of Taranto, Italy.
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Nu-Oil & Gas PLC - cash shell - Says draft prospectus of Guardian Maritime Ltd and Guardian Barriers IP Ltd buy to be sent to Financial Conduct Authority soon as acquisition progresses. Says cancellation of trading takes effect on Wednesdat and trading will resume once Guardian deals sealed. Proposes Max Williams be appointed to board as non-executive director.
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By Eric Cunha; ericcunha@alliancenews.com
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