(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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Mitie Group PLC - Glasgow-based facilities management - GLAS Trust Corp Ltd intends to sell up to 149.0 million share, or 10.5% stake in company in secondary placing. Jefferies International Ltd is acting as sole global coordinator and bookrunner. The sale represents all of GLAS's holding in Mitie. Shares in company closed at 56.80 pence in London on Wednesday.
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Permanent TSB Group Holdings PLC - Dublin-based personal and small business bank - Records pretax loss of EUR166 million in 2020, as net interest income reduced by 4% year-on-year. Says performing loan book income was broadly stable in 2020 supported by the active management of the bank's cost of funds. NIM worsens to 1.73% from 1.80%. Total new lending of about EUR1.4 billion in 2020, which is 15% lower from 2019. A strong lending performance, it says, particularly in the second half of the year, led to a 43% increase in new mortgage drawdowns compared to the first half of 2020. Mortgage applications also increased significantly in the second half of the year, with full year market share ending at 14.5%. Chief Executive Eamonn Crowley says: "While 2020 was a loss making year for the bank, the second half of the year saw the bank increase its new lending volumes and transactional activity as the economy began to reopen. Our active mortgage offer pipeline is at a strong level and positions us well to continue our strong performance into 2021."
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STV Group PLC - Scottish media company - Pledges to become net zero carbon by 2030 and launches GBP1 million Green Fund for environmentally friendly Scottish businesses. Company will initially become carbon-neutral by the end of this year by investing to offset its carbon emissions.
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British Smaller Cos VCT2 PLC - venture capital trust - Says offer for subscription to raise up to GBP7.1 million now fully subscribed and closed to further applications.
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Genedrive PLC - Manchester-based molecular diagnostics firm - Believes new clinical guidance in the UK on the importance of the management of specific genetic mutations and their role in hearing loss as a result of antibiotics will lead to increased demand for the genedrive antibiotic induced hearing loss test in the UK. "This new government guidance reminds healthcare professionals about the impact of antibiotic related ototoxicity and to consider the need for genetic testing prior to initiation of treatment. Genedrive's assay is the only commercial point of care test available for the testing of MT-RNR1, the most important mutation contributing to AIHL in infants," company adds.
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Avation PLC - London-based aircraft leasing company - Receives consents from all of noteholders for remaining outstanding 2021 notes. Says the aggregate outstanding principal amount of its 6.5% senior notes due May 2021 is USD350.0 million, of which USD7.4 million are held in treasury. Says only USD342.6 million are deemed to be outstanding.
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Landore Resources Ltd - Canada-focused minerals explorer - Says drilling programme at its Junior Lake property, in Ontario, Canada is proceeding as scheduled with results received to-date confirming the depth and length extensions of the BAM west pit. "In addition drilling to the east and west of the BAM gold deposit has successfully intersected the favourable lithology and mineralized structures associated with the BAM gold deposit. Assay results will be reported once received and collated," company adds.
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Jersey Oil & Gas PLC - North Sea-focused upstream oil and gas company - Says Greater Buchan area development project has potential for 172 million boe 2C contingent resource estimates to be developed from a fully electrified platform. Development costs based on values are estimated to be approximately USD30 per barrel of oil equivalent. Capex estimate for Phase 1 of about GBP1 billion, with opex estimate during plateau production of USD8 per boe to USD9. "Significant upside potential from 4 drill ready exploration prospects within the GBA that have combined prospective resource estimates totalling an additional 219 million boe," company adds. Chief Executive Andrew Benitz says: "We now plan to launch a farm-out process, which we expect to be highly attractive to a wide range of oil companies in light of the project's scale, economics and low carbon potential through platform electrification, characteristic of certain fully electrified fields offshore Norway."
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Hemogenyx Pharmaceuticals PLC - pre-clinical stage biopharmaceutical firm based in London - Starts process of engaging contract manufacturing organisations for product development and manufacturing of DNA plasmids, viral vectors and HEMO-CAR-T cells to support Phase I clinical trials and has contracted Randall Tlachac of Quality Systems LLC to provide oversight and direct product development, manufacturing and quality control operations. Vladislav Sandler, chief executive & co-founder of Hemogenyx Pharmaceuticals, says: "This is the next incredibly important step on a direct path to clinical proof of concept for one of our leading product candidates."
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Myanmar Investments International Ltd - developer and operator of consumer businesses in Myanmar - Extends warrant exercise window to March 31. Warrant holders are able to exercise their warrants for a cash payment of USD0.90 per share during the first calendar month of each quarter.
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Maestrano Group PLC - London-based artificial intelligence platform for transport corridor analytics - Raises gross proceeds of GBP2.0 million by placing 15.3 million shares at 13 pence per share with new institutional, other and existing investors. Chair Ian Buddery says: "We are very pleased to have completed this raise, which will fund our growth, particularly in the US markets. We appreciate the support of our shareholders and our new investors, and look forward to reporting our progress."
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Jangada Mines PLC - London-based natural resources company - Says 12% investee ValOre Metals expands rhodium assay program at Pedra Branca based on encouraging results, with 60% of samples anomalous in follow-up programme, with a high value of 0.25 grammes per tonne rhodium.
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Team PLC - owns Theta Enhanced Asset Management Ltd, trading as Team Asset Management - Prices initial public offering at 88 pence per share, hoping to raise GBP7.5 million. Expects market cap on admission of GBP14.6 million. Says it expects the IPO to occur on March 8. Canaccord Genuity Ltd is acting as the company's nominated adviser and broker and Hannam & Partners as financial advisor. Company is a Jersey-based active fund manager providing discretionary and advisory portfolio management services to private clients, trusts and charities. Assets under management were GBP291 million in November, up from GBP140 million in December 2019.
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Nostra Terra Oil & Gas Co PLC - Texas-focused oil and gas explorer - Says Cypress farmout acreage doubled in size at Pine Mills asset in East Texas, US as potential additional locations and reserves identified. Notes second Cypress well planned in 2021. Chief Executive Matt Lofgran says: "Nostra Terra continues to execute on our plans to grow production and cashflow, primarily from existing assets, while still seeking additional opportunities that could be transformational for the company, both in the US and in other developed oil and gas provinces."
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Mineral & Financial Investments Ltd - Cayman Islands-based investment company specialising in junior mining companies - Says 75%-owned Redcorp Empreedimentos Mineiros Lda gets updated mineral resource estimate for the copper rich South Zone at its Lagoa Salgada project located on the Iberian pyrite belt in Portugal. The new estimate results in a significant upgrade and expansion of the resources at the South Zone, with measured and indicated resource estimate increased by 44% to 4.4 million tonnes at 1.51% copper equivalent. Inferred Resource increased 21% to 7.7 million tonnes at 1.41% copper equivalent.
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By Paul McGowan; paulmcgowan@alliancenews.com
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