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Share Price: 31.40
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TRADING UPDATES: IQE, IQGeo win deals; MPOF assets fall on Covid-19

Fri, 07th Oct 2022 21:48

(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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IQE PLC - Cardiff, Wales-based semiconductor wafer products - Enters into a partnership with MICLEDI Microdisplays focused on the large-scale commercialisation of microLED technology. Under the agreement, IQE will provide MICLEDI with a 200mm platform to scale and commercialise its augmented reality products to achieve high-volume production for red micro-LEDs. "MicroLEDs are the future of immersive display technologies and this agreement expands IQE's position in a market which is poised for multi-billion dollar growth across a range of end-market applications, including everyday consumer electronics," Chief Executive Americo Lemos comments.

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IQGeo Group PLC - Cambridge-based geospatial productivity and collaboration software company focused on the telecoms and utility industries - Wins a contract with a "major Dutch utility" firm that has selected its geospatial software to provide office and field access to its gas and electric network information. The overall software contract is worth EUR2.6 million as a subscription over six years plus an initial order of EUR500,000 for services. In addition, it wins a contract with a US-based fibre network operator worth USD2.8 million over 3 years for the use of the Comsof automated fibre planning software.

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Kape Technologies PLC - Isle of Man-based digital privacy and security business - Appoints Mike Truong as chief product officer of its Digital Privacy division with immediate effect. He was group head of product & analytics at Grab, one of Asia's largest and most successful technology companies.

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Kropz PLC - African phosphate developer - Makes first draw down from its bridge loan facility of ZAR126 million for an amount of ZAR60.5 million.

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Tritax EuroBox PLC - London-based investor in logistics property across continental Europe - Proposes to amend its investment management agreement with Tritax Management LLP to support its long-term strategic objectives. Includes a reduction in the base management fee to 1.00% on net asset value up to EUR1 billion and 0.75% on NAV above EUR1 billion for property management services procured by the manager to now be contracted directly with the company and, hence, fees relating to why such services will be paid by the company.

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Technology Minerals PLC - London-based company focused on creating a circular economy for battery metals - Says Global Battery Metals Ltd exercised its Leinster property option. The deal provides GBML with three staged options to acquire up to 90% of the property. It exercised the first option to to earn an 18% equity by spending up to EUR85,000 in expenditures on the property, separate from the license fees and up to EUR6,500 in connection with all such license charges by October 12, which it already did. The Leinster Property is located in Wicklow and Dublin and is focused on the exploration for lithium mineralisation within spodumene-bearing granite pegmatites.

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Parkmead Group PLC - Netherlands and UK-focused gas explorer - Says the completed acquisition of the Kempstone Hill Wind Farm has now been fully integrated into the company. The acquisition was immediately revenue and cash flow enhancing.

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Eckoh PLC - London-based secure payment and customer contact products - Expects order levels for the first half of 2022 to be over GBP17 million, more than 50% higher, year-on-year. Attributes this to renewed energy activity in the US. Says the performance is in line with its expectations for the first half and previous guidance. Plans to focus on "attractive sectors" which are suited to its model, technology, and product suite. Eckoh's order book strength supports its expectations of significant revenue and profit growth in 2023.

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Macau Property Opportunities Fund Ltd - Guernsey-based investment firm - Net asset value per share stands at USD1.25, a 21% decrease from USD1.58 a year before. Says return on its investments was hurt by changes in Macau's and China's political, economic and social conditions including the short and medium-term effects of Covid-19, as well as changes in policies of the government or changes in laws and regulations. Declares no dividend in the year, unchanged from a year before. As at June 30, gross borrowing stood at USD131 million, which translates to a loan-to-value ratio of 53%. Notes that outlook in the near term remains "challenging" with Covid-19 policies continuing to hurt the economy in Macau and investors' sentiment.

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By Abby Amoakuh; abbyamoakuh@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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