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(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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Oilex Ltd - Australian oil and gas exploration and production company - Expects to boost production with plans to restart production at two wells - C-73 and C-77H - within the Cambay field area in India. If the required funding is secured, the company anticipates execution of both wells by the second half of 2022. Says this follows its acquisition of Gujarat State Petroleum Co's 55% interest in the Cambay area. Anticipates the Indian government's approval for this acquisition shortly. Aims to achieve full field development of the Cambay site. Relinquishes its P2446 exploration licence located in the UK's East Irish Sea.
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eEnergy Group PLC - London-based energy efficiency-as-a-service provider - Completes its acquisition of UtilityTeam TopCo Ltd. The company says it also now holds a 5% stake UtilityTeam Trading Ltd, which is not currently owned by UtilityTeam Topco. Says company shares total 344.3 million following the addition of 18.0 million consideration shares and 80.0 million placing shares.
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Virgin Wines UK PLC - online wine retailer based in Preston, England - Launches a range of products in partnership with personalised greeting card retailer Moonpig Group PLC. The launch includes 32 wines, some of which are exclusive to Moonpig's website, to offer as a gift or buy alongside any card purchase. Says the partnership is part of Moonpig's expanding gifting proposition.
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Vela Technologies PLC - technology-focused investment firm based in Bingley, England - Notes a collaboration between Aeristech Ltd and Sprintex Ltd focused on hydrogen fuel cell vehicles. Aeristech produces and supplies compressor to maximise the power output and efficiency of hydrogen fuel cells, the company notes. Says the partnership will facilitate Sprintex's presence in the hydrogen energy market using Aeristech's proprietary designs will form a key component of these platforms for use in hydrogen fuel cell vehicles. In late February, the company noted an investment of GBP350,000 in Aeristech, as part of a larger GBP5.1 million pre-IPO funding round.
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Ananda Developments PLC - medicinal cannabis firm - Says development works are on-schedule at its cannabis growing facility in the UK. The development works have been undertaken by its subsidiary UK DJT Plant, the company says. Ananda holds a 50% stake UK DJT Plant, it adds. Notes that the facilities expanded footprint includes dedicated growing room for male and female plants as well as a nursery, a room for mother plants and a laboratory for trimming and analysing the cannabis plants.
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Kavango Resources PLC - mineral exploration company with operations in Botswana - Requests the assistance of Mindea Exploration and Drilling Services Ltd to extend the Hole TA2DD002 at the Kalahari Suture Zone in Botswana. Plans to extend the hole to a depth of 1 kilometre, which is the technical limit of the drill rig currently on site. Says the hole is currently 821 metres deep. Undertakes further exploration drilling to develop and refine its model of the KSZ area. Also announced the renewal of prospecting licences PL082/2018 and PL083/2018 - collectively the LVR project - in the Kalahari Copper Belt.
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Draper Esprit VCT PLC - London-based venture capital fund - Sees portfolio company Form3 complete USD160 million Series C funding round. Form3 is a leading platform payment technology provider, the company adds. Says the funding round included Draper Esprit PLC, Goldman Sachs Group Inc, Lloyds Banking Group PLC, and Barclays PLC among others. The recent funding round values the fund's existing stake in Form3 at GBP8.0 million, indicating a GBP5.6 million uplift in its investment's value. Says the uplift pushes its unaudited net asset value to 53.8 pence per share, up from 50.0p per share on March 31.
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Cizzle Biotechnology Holdings PLC - London-based biotechnology firm - Reaches new research agreement with the University of York to develop and validate molecular tools for possible use in cancer diagnosis and therapy. Says the agreement extends its close relationship with the University of York, given that its subsidiary Cizzle Biotechnology Ltd was a spin-out of the university based on the institutions original research. Executive Chair Allan Syms says: "We are thrilled to be able to cement our long-standing relationship with the University of York...This new agreement will provide valuable additional resource and capability for developing our blood test for the early detection of lung cancer, and potentially other forms of cancer."
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By Scarlett Butler; scarlettbutler@alliancenews.com
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