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(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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Gulf Marine Services PLC - United Arab Emirates-based lift boat company - Awarded two new contracts and one contract extension. "One of the new contracts is for a large class vessel, while the other is for a small class vessel. The contract extension is for a mid-tier vessel. These contract awards, with improved day rates, equate to seventy-eight months of utilisation, significantly increasing the overall fleet backlog and secured revenue," Gulf Marine says.
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Kitwave Group PLC - North Shields, England-based food wholesaler - Says strong first half performance continued in second half of year ended October 31. Expects annual results "in line with the upgraded market expectations". Kitwave adds: "The board remains conscious of the wider, macroeconomic setting in which the group is currently operating. Increases in interest rates and inflationary pressures, particularly labour rates and fuel prices, will continue to impact operating costs. However, as previously explained, the group has taken prudent measures to mitigate these risks and will continue to recover these costs, wherever possible."
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Portmeirion Group PLC - Stoke-on-Trent, England-based pottery company - Company's Spode brand to collaborate with interior designer Kit Kemp for tableware and giftware. "This collaboration, for an initial period of five years, further demonstrates the group's commitment to expand our customer base and grow market share across our portfolio of brands," Portmeirion says. Says trading in September and October is in line with expectations, ahead of key festive period.
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Power Metal Resources PLC - London-based exploration company, with projects in Africa, Australia and North America - Says first two holes of drilling at T1-6 target completed. "The drill site has been prepared at target T1-14 ready for diamond drilling into the electromagnetic superconductor target identified. Drilling at T1-14 is expected to commence shortly," Power Metal says. Targets are located at Molopo Farms project in Botswana. Last week Friday, Power Metal received approval for acquisition of an additional 59% interest in Kalahari Key Mineral Exploration Pty Ltd. Power Metal would hold 88% at conclusion of transaction. Kalahari Key owns 100% of Molopo Farms. Last week Thursday, Power Metal said heritage survey clearance at Wallal, done under supervision of Yamatji Marlpa Aboriginal Corp and the Nyangumarta people, confirmed site establishment works for drilling could begin. The Nyangumarta are a group of Aboriginals in Western Australia.
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Empire Metals Ltd - London-based minerals explorer and developer - Discovers a "large magnetic anomaly" at the Pitfield copper project in Western Australia. "The mapping shows extensive copper, silver and other base metals anomalism over a 40-kilometre strike length, giving further confidence in the potential to discover a "giant" copper mineralised system at Pitfield," Empire explains.
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Future Metals NL - Perth-based platinum exploration company - Says drilling at Panton platinum group metals project in Western Australia detects zones of "primary magmatic sulphides". "[The] presence of primary magmatic sulphides in shallow drilling is a significant technical breakthrough confirming the potential for larger sulphide accumulations at depth which have not previously been tested," Future adds.
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Europa Oil & Gas Holdings PLC - oil and gas exploration, development, and production company in the UK, Ireland and Morocco - Says Ireland's minister for Department of the Environment, Climate & Communications gives backing to extend first phase of work at FEL 4/19 licence to end of January 2024. "The company intends to use the extension to carry out further technical studies and allow more time to secure a partner to advance development of the licence," Europa Oil adds.
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Longboat Energy PLC - North Sea-focused exploration and production company - Drilling results at Oswig "at the lower end of pre-drill expectations". In a preliminary estimate, recoverable resources at Oswig are thought to be between 10 and 42 million barrels of oil equivalent, based on in-place volumes of 100 to 215 million boe. "The Oswig fault block drilled has substantial volume potential and is located close to existing infrastructure. In addition, there is a possible large extension towards the south in the same fault block. Longboat looks forward to working with the partnership to define an appraisal programme and optimal well configuration for maximising flow rates from future potential development wells," Chief Executive Helge Hammer says.
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Hansard Global PLC - Isle of Man-based long-term savings provider - New business for first quarter ended September 30 amounts to GBP24.8 million, unchanged quarter-on-quarter, but down from GBP56.2 million a year prior. Assets under administration total GBP1.1 billion, up by GBP6.1 million quarter-on-quarter. "The overall environment has remained challenging for investment and long-term savings plans. However, we are making good progress developing new distribution opportunities," chief Executive Graham Sheward says. "In order to counteract this challenging environment, we have been expanding our distribution relationships, adding additional regional sales managers to our team and developing new product propositions across our product range. We expect to launch a new proposition in the Middle East on our new administration system in 2023 to assist growing our business in that market."
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Sondrel Holdings PLC - fabless semiconductor business - Names Thomas Flynn as vice president of sales in North America. "Thomas brings significant US industry experience and extensive relationships to the Group, having spent three decades working in the Silicon Valley semiconductor industry, including in senior management positions. Prior to joining Sondrel, Thomas was previously VP of Sales at several leading companies in the Valley, most recently, VP of Sales at Oski Technologies, where he supported significant revenue and profit growth," Sondrel says. Flynn's appointment allows firm to build on "existing success" in US.
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Cap-XX Ltd - Sydney-based maker of ultra-thin prismatic and cylindrical supercapacitors - Remains "optimistic" over firm's prospects, despite noting "industry-wide supply chain bottlenecks, especially in China". Says outlook for revenue and adjusted earnings before interest, tax, depreciation and amortisation for year to June 30 "remains in line with market expectations". In addition, company announces launch of five millimetre cylindrical supercapacitor, designed for internet of things devices.
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IQE PLC - Cardiff, Wales-based semiconductor wafer products - Signs multi-year agreement with Advanced Wireless Semiconductor Co, for supply of epiwafers. "This three-year supply agreement covers epitaxial wafers spanning a range of AWSC's wireless products, including those which enable 4G and 5G mobile handsets and WiFi products. The agreement provides IQE with diversification opportunities into mass-market power amplifier products. IQE and AWSC will also partner in the design and development of solutions for next-generation wireless applications," IQE adds.
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DSW Capital PLC - Warrington, England-based business advisory services provider - Says trades strongly in half-year ended September 30, with revenue up 34% year-on-year to GBP9.8 million, from GBP7.3 million. Says total income from licensees rises 40% to GBP1.6 million, from GBP1.2 million, and more than covers "ongoing cost of being on AIM". Adjusted pretax profit for half-year amounts to GBP900,000 from GBP800,000.
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Eight Capital Partners PLC - London-based fintech-focused company - Updates on transformational growth strategy, which involved transition to "fintech operating company" from investing firm, restructuring of balance sheet and aim to grow market capitalisation "beyond GBP50 million". Next step of growth plan involves share placing. Plans to place shares at price of 0.02 pence each and raise GBP10 million.
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Facilities by ADF PLC - provider of production and support vehicles for the TV and film industry - Opens new office in Glasgow, Scotland, set in Pioneer Film Studios' campus. Pioneer campus is Scotland's newest and largest film studio and stands at 1.2 million square feet. It provides studio space, workshop areas, editing suites and training facilities.
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By Eric Cunha; ericcunha@alliancenews.com
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