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TRADING UPDATES: Facilities by ADF profit hit by Hollywood strikes

Fri, 26th Apr 2024 20:02

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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Southern Energy Corp - Calgary, Canada-based natural gas exploration and production company - Swings to net loss in the year to December of USD46.8 million from net earnings of USD9.3 million. Basic loss per share is USD0.33 compared to earnings per share of 0.09. Petroleum and natural gas sales fall 57% to USD19.3 million from USD45.2 million largely due to a significant depreciation in the natural gas price.

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Ferro-Alloy Resources Ltd - Kazakhstan vanadium, molybdenum and nickel producer - Reports production in the first quarter was 160% higher than the year prior, but slightly lower than planned, impacted mainly by severe flooding in Kazakhstan during March which caused transport delays in country and infrastructure issues at the plant site. One of the group's four roasting ovens also required re-lining during the quarter. The pre-roaster, which reduces the raw material residence time in the main ovens, was not in operation during the quarter as a result of high winter winds and general extreme weather. Says the impact of the floods has also affected production at the start of April but the improvements in the plant, together with the expected operation of the pre-roaster, should increase production to compensate.

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Henderson Far East Income Ltd - Asia Pacific-focused investor - Says net asset value at February 29 was 227.06 pence, up from 222.12p at August 31. "After a period of difficult relative and absolute performance, it was encouraging to see substantially better investment returns during the first half of our financial year in response to previous restructuring and the planned changes intended to improve capital returns," company says.

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Trinity Exploration & Production - Trinidad & Tobago-focused oil exploration and production company -

Provides an update on operations for the three-month to March 31. Chief Executive Jeremy Bridglalsingh comments: "Trinity's core business remains robust and cash-generative, with no long-term debt." Focus remains on maximising cash flow from existing producing assets; rebuilding cash following the drilling of the Jacobin well in 2023; and maturing detailed engineering for the two principal projects.

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Ilika PLC - Romsey, England-based solid-state battery technology company - Announces that Agratas has joined the 17-month GBP2.7 million grant-supported SiSTEM project, which Ilika announced on October 9 last year. The project is supported by the Automotive Transformation Fund. The SiSTEM project objectives are to build a 1.5 megawatt hour solid-state battery assembly line in collaboration capable of delivering Ilika's Goliath SSB prototype large-format pouch cells and to undertake scale up trials at the UK Battery Industrialisation Centre. Agratas is Tata Group's global battery business, created to design, develop and manufacture high-quality, high-performance, sustainable batteries in the mobility and energy sectors.

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Mpac Group PLC - Tadcaster, England-based packaging and automation company - Receives GBP1.2 million order to deliver a SiSTEM pilot battery assembly line secured by funding from the Automotive Transformation Fund (ATF), partnered with Ilika, Agratas and The UK Battery Industrialisation Centre.

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Tlou Energy Ltd - Botswana and Southern Africa-focused energy company - Says construction of the 66 kilovolt transmission line connecting Tlou's Lesedi project directly to Botswana's power grid and the broader Southern African Power Pool has been completed. Adds substation to connect power generators to transmission line 50% complete. Says gas gathering lines being laid to connect gas wells to generation site. Says preparations are underway for further production pod drilling at Lesedi. Notes continued gas production at the Lesedi 4 and Lesedi 6 production pods.

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NB Distressed Debt Investment Fund Ltd - Guernsey-incorporated closed-ended fund managed by Neuberger Berman - Says net asset value per ordinary share was USD0.81 at December 31, up from USD0.77 the year before. "It is not anticipated that income from the Portfolios will be material and therefore any income distributions by way of dividend will be on an ad-hoc basis," company says.

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Facilities by ADF PLC - provider of serviced vehicles, including mobile makeup trailers and offices, for TV and film productions - In 2023, reports pretax profit of GBP0.6 million down from GBP4.6 million the year before. Revenue though rises to GBP34.8 million from GBP31.4 million. Earnings per share slip to 0.99 pence from 6.1p. In the second half of the year, notes several large productions that ADF was working on stopped filming due to the Hollywood writers and actors strike, hitting revenue levels for the remainder of the year. Explains that the group took several mitigating actions in response, including securing shorter duration domestic productions, and cutting the use of more expensive agency drivers. Now the strikes have ended, expects the financial performance of the first half of 2024 to be "significantly ahead" of the second half of 2023.

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Logistics Development Group PLC - London-based investment company - Announces that for the remainder of the share buyback period it will permit Investec Bank PLC, its broker, to acquire shares outside of the volume restrictions. The pricing parameters detailed in February 2023 and in April 2023 will continue to apply.

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Tirupati Graphite PLC - Graphite and mineral producer, which is currently focused on flake graphite mining projects in Madagascar - Confirms that it has received a letter from Walpole St Andrews Nominees Ltd on behalf of a group of underlying shareholders holding, around 5.8% of the company's share capital. Letter asks company to convene a general meeting. Says taking advice as to the validity of the requisition letter and a further announcement will be made in due course. Explains the letter asks that shareholders at the meeting consider resolutions to remove Shishir Poddar, Puruvi Poddar and Alastair Bath from office as directors of the company and to appoint Mark Rollins, Leo Koot, Isabel de Salis and Murat Dogan Erden as directors. Shareholders are advised that no action is required at this time.

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Upland Resources Ltd - Jersey-based oil and gas company - Completes equity placing to raise USD4 million at 3.3 pence each. The placing was arranged and cornerstoned by OAK Securities, who have also been appointed as Joint Broker. The net proceeds will provide the company with sufficient capital to support its business plans, including drilling a well.

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The Gym Group PLC - Croydon, England-based chain of 230 gyms - Appoints real estate advisor Savills to advise on its site selection, as it plans for circa 50 new openings across the UK over the next three years. Notes analysis from PwC shows that the opportunity in the UK extends to potential for between 600-800 additional sites in the low-cost gym segment.

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Cobra Resources PLC - Australia-focused gold and rare earth exploration company - Raises GBP600,000 through a placing at 1 pence per share. Around 30% of the placing was to Australian investors including certain original vendors of the Wudinna Project. Cobra explains funds will help to accelerate the strategy to realise the value of Boland, and progress towards a scoping study. Further, reports significant intersections of rare earth mineralisation from historical drill samples across Boland.

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Jadestone Energy PLC - oil and gas company focused on the Asia-Pacific region - Announces that the scheduled redetermination of its reserve-based lending facility has successfully concluded, setting a borrowing base at the maximum facility size of USD200 million for the six-month period ending September 30.

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Smartspace Software PLC - Bury St Edmunds, England-based developer of smart software solutions - Says High Court sanctions the Scheme by which the bid by Sign In Solutions Inc will be facilitated.

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Sancus Lending Group Ltd - London-based alternative financial services provider - Says it will not publish its audited financial results for the year ended December 31 2023 by April 30 2024 as required by the Financial Conduct Authority. This, requests the suspension of its zero dividend preference shares on the Standard Segment of the Official List from May 1. Results have been delayed as company is changing auditor. Expects to publish its 2023 accounts in June.

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By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
13 Jun 2024 19:40

EARNINGS AND TRADING: Dialight trades in line; Petards swings to loss

(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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6 Jun 2024 14:52

UK shareholder meetings calendar - next 7 days

Friday 7 June 
Property Franchise Group PLCAGM
Trident Royalties PLCAGM
TruSpine Technologies PLCAGM
Monday 10 June 
Aterian PLCAGM
Griffin Mining LtdAGM
Lok'n Store Group PLCGM re takeover by Shurgard
Onward Opportunities LtdAGM
Oxford Nanopore Technologies PLCAGM
Pan African Resources PLCGM re capital reduction
Tuesday 11 June 
Ebiquity PLCAGM
Flowtech Fluidpower PLCAGM
MaxCyte IncAGM
Mobico Group PLCAGM
Newbury Racecourse PLCAGM
Nightcap PLCGM re fundraise
Phoenix Digital Assets PLCGM re up to GBP33.7 million fundraise
Tirupati Graphite PLCGM requisitioned by Walpole St Andrews Nominees
Tortilla Mexican Grill PLCAGM
Tufton Oceanic Assets LtdEGM
Wednesday 12 June 
Advanced Medical Solutions Group PLCAGM
Alina Holdings PLCAGM
Aquila Energy Efficiency Trust PLCAGM
Aurora Investment Trust PLCAGM
BioPharma Credit PLCAGM
Brighton Pier Group PLCAGM
Digital 9 Infrastructure PLCAGM
EPE Special Opportunities LtdAGM
Foresight Solar Fund LtdAGM
Star Energy Group PLCAGM
Thursday 13 June 
Beacon Rise Holdings PLCAGM
Christie Group PLCAGM
Everyman Media Group PLCAGM
Hochschild Mining PLCAGM
Iofina PLCAGM
Jadestone Energy PLCAGM
Panther Metals PLCAGM
Pollen Street Group LtdAGM
Poolbeg Pharma PLCAGM
Serabi Gold PLCAGM
Smurfit Kappa Group PLCGM re WestRock deal
Sound Energy PLCAGM
Starwood European Real Estate Finance LtdAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
6 Jun 2024 11:22

Jadestone Energy to commence operations at Akatara in coming weeks

(Alliance News) - Jadestone Energy PLC shares rose on Thursday as the firm said it is ready to begin production at the Akatara development.

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16 May 2024 09:57

LONDON BROKER RATINGS: Barclays raises Travis Perkins to 'overweight'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and on Wednesday:

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29 Apr 2024 11:18

Jadestone Energy swings to loss as revenue hurt by lower oil prices

(Alliance News) - Jadestone Energy PLC on Monday said it swung to an annual loss as lower prices hurt revenue, and it also lowered its production guidance for 2024.

Read more
22 Apr 2024 14:45

UK earnings, trading statements calendar - next 7 days

Tuesday 23 April 
Alphawave IP Group PLCFull Year Results
Anglo American PLCTrading Statement
ASA International Group PLCFull Year Results
Associated British Foods PLCHalf Year Results
Eleco PLCFull Year Results
GB Group PLCTrading Statement
Jupiter Fund Management PLCTrading Statement
Property Franchise Group PLCFull Year Results
Taylor Wimpey PLCTrading Statement
tinyBuild IncFull Year Results
Trellus Health PLCFull Year Results
Wednesday 24 April 
1Spatial PLCFull Year Results
abrdn PLCTrading Statement
Ecora Resources PLCTrading Statement
Fresnillo PLCTrading Statement
Lloyds Banking Group PLCQ1 Results
Nichols PLCTrading Statement
PensionBee Group PLCFirst Quarter Results
PZ Cussons PLCTrading Statement
Quilter PLCQ1 Results
Reckitt Benckiser Group PLCTrading Statement
Sanderson Design Group PLCFull Year Results
Serica Energy PLCFull Year Results
Star Energy Group PLCFull Year Results
Tortilla Mexican Grill PLCFull Year Results
Tracsis PLCHalf Year Results
Warpaint London PLCFull Year Results
Thursday 25 April 
Aquila European Renewables PLCFull Year Results
Argo Blockchain PLCFull Year Results
AstraZeneca PLCQ1 Results
Barclays PLCQ1 Results
Checkit PLCFull Year Results
Coca-Cola Europacific Partners PLCTrading Statement
Destiny Pharma PLCFull Year Results
Dillistone Group PLCFull Year Results
Focusrite PLCHalf Year Results
Gem Diamonds LtdTrading Statement
Hikma Pharmaceuticals PLCTrading Statement
Hummingbird Resources PLCTrading Statement
Ibstock PLCTrading Statement
Inchcape PLCTrading Statement
J Sainsbury PLCFull Year Results
London Stock Exchange Group PLCQ1 Results
Persimmon PLCTrading Statement
Pinewood Technologies Group PLCFull Year Results
PPHE Hotel Group LtdTrading Statement
PureTech Health PLCFull Year Results
Relx PLCTrading Statement
Renewi PLCTrading Statement
Schroders PLCQ1 Results
Skillcast Group PLCFull Year Results
Travis Perkins PLCTrading Statement
Trifast PLCTrading Statement
Unilever PLCQ1 Results
WAG Payment Solutions PLCTrading Statement
Weir Group PLCTrading Statement
WH Smith PLCHalf Year Results
WPP PLCTrading Statement
Zinc Media Group PLCFull Year Results
Friday 26 April 
Facilities by ADF PLCFull Year Results
Kingspan Group PLCTrading Statement
NatWest Group PLC Q1 Results
Pearson PLCTrading Statement
Record PLCTrading Statement
Smurfit Kappa Group PLCTrading Statement
Taylor Maritime Investments LtdTrading Statement
Monday 29 April 
Beazley PLCTrading Statement
Biome Technologies PLCFull Year Results
Christie Group PLCFull Year Results
Gresham Technologies PLCFull Year Results
Jadestone Energy PLCFull Year Results
Oxford BioMedica PLCFull Year Results
SpaceandPeople PLCFull Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
11 Apr 2024 16:00

IN BRIEF: Jadestone resumes trading as Woodside cancels sale of assets

Jadestone Energy PLC - oil and gas company focused on the Asia-Pacific region - Shares readmitted to trading on the AIM market of the London Stock Exchange at 10:30 GMT on Thursday. Jadestone shares were suspended in February, after the company announced its intention to acquire interests in certain offshore Australian oil and gas fields from Woodside Energy Group Ltd. If successful, the deal would be large enough to constitute a reverse takeover under AIM listing rules, resulting in the suspension.

Read more
28 Mar 2024 13:46

EXECUTIVE CHANGES: Spectris adds former Spirax CEO Anderson to board

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Thursday and not separately reported by Alliance News:

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23 Feb 2024 12:39

Jadestone Energy flags board changes at next AGM

(Sharecast News) - Asia-Pacific-focussed upstream company Jadestone Energy announced changes to its corporate governance structure on Friday.

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23 Feb 2024 11:23

Jadestone Energy says Dennis McShane to step down as chair before AGM

(Alliance News) - Jadestone Energy PLC on Friday said that it will choose a new chair for the board, as its current non-executive chair has indicated that he will not seek re-election.

Read more
14 Feb 2024 12:24

Jadestone Energy acquires additional 17% stake in CWLH oil fields

(Alliance News) - Jadestone Energy PLC on Wednesday said that it had increased its stake in a western Australian oil fields development, one which is "fast becoming a key asset" for the company.

Read more
13 Feb 2024 09:31

Jadestone Energy eyes reverse takeover deal

(Sharecast News) - Upstream company Jadestone Energy said on Tuesday that it was working on a reverse takeover deal that would see it acquire assets owned by Woodside Energy in Australia.

Read more
13 Feb 2024 08:16

Jadestone Energy bids for Woodside fields offshore Western Australia

(Alliance News) - Jadestone Energy PLC on Tuesday confirmed it is bidding to buy interests in gas and oil fields from Australia's Woodside Energy Group Ltd.

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2 Feb 2024 11:43

Jadestone Energy celebrates record annual oil production

(Alliance News) - Jadestone Energy PLC on Wednesday said it expected the acquisition of a further CWLH 2 stake to complete in mid-February as oil production jumped last year.

Read more

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