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(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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Tern PLC - Investor focused on the internet of things - Reports "significant progress" across its portfolio companies during 2022. Notes year-on-year growth in the number of recurring revenue contracts. "The goal of our model, at the point any of our portfolio companies reach sufficient maturity and the market dynamics are appropriate, continues to be to provide our shareholders with continuous access to returns as we exit investments. We are continually evaluating the future for our companies and will explore and exploit any appropriate exit opportunities as they are presented or can be originated," CEO Al Sisto comments.
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Agronomics Ltd - Isle of Man-based cellular agriculture investment firm - Notes that its investee company Liberation Labs Holdings Inc acquired land for its launch facility. The business believes it will be the first "dedicated, purpose-built, commercial, precision fermentation plant globally for food production." Notes that it invested a total of USD7.6 million since Liberation Lab's inception. "Liberation Labs is Agronomics' key exposure to the infrastructure required to support the global shift towards more secure and sustainable methods of protein production via fermentation, representing a major opportunity for capital deployment in the coming decade. Not only is Liberation Labs building a first-of-a-kind facility, it is also creating an asset class for institutional investors to be able to participate in the food revolution, without having to underwrite significant technology and regulatory risk, yet with highly predictable cashflows," Executive Director Jim Mellon comments.
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Riverstone Credit Opportunities Income PLC - energy infrastructure and energy-transition credit investor - Net asset value per share stands at USD1.08, down from USD1.10 as at September 30. Attributes this reduction to a movement in the valuation of an equity position. Commits an additional USD2.1 million of capital as part of an upsize for Harland & Wolff Group Holdings PLC during the fourth quarter. "Q4 2022 was very encouraging for RCOI given further profitable realisations as well as new commitments in our target sectors. I believe the Company is well-positioned to continue to provide attractive returns from its portfolio as well as through new senior secured investments from the considerable pipeline of opportunities progressing through due diligence," Chair Reuben Jeffery comments.
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Blencowe Resources PLC - London-based miner focused on developing the Orom-Cross graphite project and Akelikongo nickel project in Uganda - Says its strategy remains focused on acquiring, developing and investing in projects primarily targeting commodities and technologies related to the renewable energy sector. Says that it progressed its discussions with international and local off-takers were progressed throughout 2022. Continues to evaluate multiple deals in commodities, particularly associated with renewables and the battery metals space. "Jangada has a highly experienced Brazilian centric legal, financial and operational management team able to source and execute on projects. The board and team have a proven track record of being able to find high value low-cost opportunities, such as the acquisition of the Pedra Branca Platinum Group Metals Project, which was vended to TSX listed, ValOre Metals. Pitombeiras is technically sound and has excellent upside potential, the Board is just waiting for the right pricing environment to push the button on its development," Chair Brian McMaster comments.
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88 Energy Ltd - Alaska-focused oil explorer - Expects the Hickory-1 exploration well for Project Phoenix to spud around March 1. It will target 647 million barrels of oil. Secures Project Leonis as part of the North Slope Areawide 2022W oil and gas lease sale. Completes the two final planned workovers scheduled for 2022 at Project Longhorn.
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RTW Venture Fund Ltd - New York-based investor in life sciences, biopharmaceutical, and medical technology companies - Records a negative net asset value return of 10% for the quarter that ended December 31, outperforming both the Russell 2000 Biotech Index which returned negative 31% and the Nasdaq Biotech Index which returned negative 11%. Records a 5.1% uplift in NAV per share for the quarter.
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By Abby Amoakuh, Alliance News reporter
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