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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Tiziana Life Sciences PLC - London-headquartered biotechnology company focused on innovative therapeutics for oncology, inflammation and infectious diseases - Signs definitive agreements with investors for the purchase and sale of 11.0 million of its American depositary shares at USD5.20 each as part of a registered direct offering. Gross proceeds to be approximately GBP57.3 million. ThinkEquity, a division of Fordham Financial Management Inc, will be sole placement agent.
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Crossword Cybersecurity PLC - London-headquartered technology commercialisation company with focus on cyber security and risk - Expects total revenue up 18% at GBP647,000. Income from Consulting and production sales up 43% year-on-year for the six months ended June 30. Despite economic uncertainty, "cautiously optimistic" annual results will align with market expectations, "subject to the outcome of a few major product led bids over the coming months". June closing cash position GP1.6 million, reflecting May's GBP1 million equity fund raise.
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Egdon Resources PLC - onshore exploration and production company focused on the UK - Begins site works at the Wressle oil field in North Lincolnshire. Wressle located in licences PEDL 180 and PEDL 182, where Egdon holds a 30% operated interest. Site civils contractor mobilised and works to configure production site commence. Works include installing new high density polyethylene impermeable membrane, approved surface water interceptor, and French drain system. Also planned is construction of a purpose-built area for storage tanks as well as a tanker loading plinth and internal roadway system.
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Union Jack Oil PLC - UK focused onshore hydrocarbon production, development and exploration company - Notes that Wressle is still on track for first oil in the second half of 2020. Acquires another 12.5% of PEDL180 and PEDL182 from Humber Oil & Gas Ltd to give a meaningful 40% interest on completion.
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Velocys PLC - sustainable fuels technology company with headquarters in Oxford - Completes manufacturing and delivery of four reactors to Red Rock Biofuels with further option to buy another two reactors by 2020 end.
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Mattioli Woods PLC - wealth management and employee benefits business headquartered in Leicester - Acquisition of Hurley Partners Ltd completes following UK Financial Conduct Authority approval. Initial consideration satisfied through GBP10.7 million in cash plus 842,866 new shares worth around GBP5.9 million given their Friday closing price. Contingent cash consideration up to GBP8.0 million payable in two years after completion based on performance. Following 842,866 share issue, Mattioli Woods has 27.8 million shares in issue.
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Seeing Machines Ltd - driver monitoring systems maker with headquarters in Canberra, Australia - Ahead of consensus guidance for 2020 financial year ended June 30 in terms of total income and revenue, as well as being "significantly ahead" of guidance for its net cash position. Annual income forecast at AUD42.6 million, about GP25 million, up 30% for financial 2019. Financial 2020 revenue expected at AUD39.7 million, rising 8.5% versus consensus of AUD36.6 million. June 30 cash AUD38.7 million, rising 22% from consensus guidance. Connected Guardian technology units 23,415 as at June 30, connections up over 46% year-on-year.
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Byotrol PLC - Manchester-headquartered specialist infection prevention and control company - Trading for financial year ending March 2021 still strong with first quarter product sales over GP3.4 million and "encouraging" orders for July and August. June end order book around GBP2 million while current net cash position GBp1.8 million. Expects financial 2021 revenue and earnings before interest, tax, depreciation, and amortisation to significantly exceed market expectations. Intends to announce annual results for year ended March 2020 in mid September.
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San Leon Energy PLC - oil and gas production, development and exploration company focused on Nigeria - Invests USD15 million in Energy Link Infrastructure (Malta) Ltd, owner of the Alternative Crude Oil Evacuation System project. This product is being constructed to provide a dedicated oil export route form the MML 18 asset. Investment includes a 10% equity interest in Energy Link Infrastructure plus a USD15 million shareholder loan at a 14% per annum coupon over four years. Funds will be provided in two tranches, the first USD10 million tranche being made by San Leon this week and the second USD5 million tranche to follow in the fourth quarter.
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United Oil & Gas PLC - oil and gas company with a portfolio of assets in Egypt, Italy, Jamaica, and the UK - Gets approval from Jamaican government to take forward Walton Morant licence on 100% operated basis. United assigned Tullow Jamaica Ltd's 80% equity in the licence for nominal fee, leaving it 100% operator and equity holder. The government also extends the initial exploration period for 18 months. A work programme is underway to further de-risk the Colibri prospect along with other targets ahead of a drill decision. A farm-out process for the licence is ongoing. United noted: "The Colibri prospect has been independently estimated to contain gross unrisked mean prospective resources of 229 [million stock tank barrels], and up to 513 [million stock tank barrels] in a high-case scenario," says United.
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M Winkworth PLC - residential real estate agencies franchiser headquartered in London - Experiences sales interest recovery thanks to easing of stamp duty threshold to GBP500,000 from GBP125,000. Sees 64% rise in sales applicants registering on the day after the announcement with increase in instructions and viewings since July 8, up 14% and 14% respecitvely year-on-year. Up 13% and 22% respectively from early June 2020. "Although the significant rise in activity is welcomed, it is too early to predict to what extent this will translate into completed sales and how sustained this increased activity level will be across the network. Accordingly, and although encouraging, it is not yet possible to predict the extent of any impact on Winkworth's financial performance," says company.
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Renalytix AI PLC - artificial intelligence-enabled in vitro diagnostics company with headquarters in Cardiff, Wales - Notes commencement of multi-centre study conducting in-depth investigations into kidney-related complications and long-term outcomes linked to Covid-19. Renalytix's KidneyIntelX platform will be used to asses kidney disease progression and kidney failure risk along with kidney complications in Covid-19 survivors form multiple US centres in the Multi-center Assessment of Survivors for Kidney Disease after Covid-19 study.
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Alternative Income REIT PLC - real estate investment trust focused on UK commercial property assets - Disposes of Wet 'n' Wild Water Park in North Shields for GBP3.2 million to Serco Leisure Operating Ltd, a Serco Group PLC subsidiary. Sales price represents 9.7% uplift on purchase price and 12% premium to June 30 book value with net exit yield 6.0%.
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Bluejay Mining PLC - miner with projects in Greenland and Finland - Final face-to-face public consultation meeting for Dundas ilmenite project in Greenland takes place. Meeting due at Monday last week postponed by fog to be rescheduled as a teleconference meeting in August. Public consultation period ends September 2.
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Applied Graphene Materials PLC - bespoke graphene dispersions and formats provider with headquarters in Redcar, Cleveland - Signs distribution agreement with Maroon Group LLC, adding to its commercial distribution network and providing a direct route into the coatings and polymers sectors across the US and Canada. Applied Graphene and Maroon Group's exclusive agreement involves collaborating on customer opportunities and introducing Applied Graphene's Genable graphene dispersions technology into the US and Canadian coatings and polymers markets.
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Barkby Group PLC - Abingdon-headquartered company with businesses in real estate, consumer & hospitality and life sciences - Invests another GBP500,000 into digital health company VivoPlex Group Ltd via a convertible loan agreement. The agreement has a 36 month term and 8% per annum interest rate. Vivoplex focuses fertility and women's health and its first product is a wireless, battery free medical device that is being developed to continuously measure the pH, temperature and dissolved oxygen level in the uterus for up to seven days. Barkby has now invested GBP2.5 million in VivoPlex.
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Blue Star Capital PLC - investing company with headquarters in West Sussex and a focus on esports, payments, technology - Raises GBP550,000 via 366.7 million share placing at 0.15 pence per share and grant of equal number of warrants to subscribe for shares at 0.25p each. Settles GBP16,000 of liabilities due through issue of 10.7 million shares at placing price. Intends to use placing proceeds for working capital and to fund investment. Notes investee Dynasty eSports Pte Ltd's plan to raise around USD2.0 million, with plans to exercise its anti-dilution rights and maintain its 13% holding.
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Alba Mineral Resources PLC - London-headquartered mineral exploration and development firm - Raises GBP450,000 through 692.3 million share placing at 0.065 pence per share. Warrants to be issued to subscribers with one warrant per two shares subscribed for, a total of 346.2 million warrants. Warrant exercise price 0.13p each. Alba's near-term focus is on its Clogau gold project, with proceeds to help accelerate work activities at Clogau along with other projects and general working capital.
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K3 Capital Group PLC - professional services firm with headquarters in Bolton - Acquires Quantuma Advisory Ltd for GBP27.0 million initial consideration in combination of cash and shares. Maximum combined earn-outs of GBP15 million plus further 645,513 growth shares. Quantuma is the holding company for Quantuma LLP, described by K3 as "a UK-focused business providing advisory services including restructuring and insolvency, corporate finance and forensics". Appoints Carl Jackson as executive director and Charlotte Stranner as independent non-executive Director. Martin Robinson made senior independent director and Stuart Lees made non-executive director.
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By Anna Farley; annafarley@alliancenews.com
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