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Pin to quick picksKibo Energy Share News (KIBO)

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EARNINGS AND TRADING: Smoove says acquisition by Digcom approved

Fri, 15th Dec 2023 21:26

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

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Kropz PLC - South Africa-focused phosphate producer and developer - Says subsidiary Kropz Elandsfontein Ltd and ARC Fund have agreed to a ZAR115 million loan facility due to the delay in arranging re-financing of its BNP loan facility. Notes that it is in the process of refinancing its BNP loan, but say its replacement loan is expected to occur in the first quarter of 2024, later than December 31 as previously expected. Says it has made its first drawdown of its ARC Fund loan on Friday, taking ZAR62.5 million.

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Tullow Oil PLC - oil and gas explorer and producer - Says USD140.9 million of notes were tendered in its 2025 loan note offer. Chief Financial Officer Richard Miller says: "2023 has been a transformative year for our balance sheet. Following the start-up of the Jubilee South East project earlier this year, we are now in a period of material free cash flow, with approximately USD800 million expected to be generated between 2023 to 2025."

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TI Fluid Systems PLC - Oxford, England-based company that designs and manufactures thermal management and fluid handling systems - Says it has completed the first EUR5 million tranche of its EUR40 million share buyback. Says it will begin its second tranche of its buyback, with a maximum consideration of GBP20 million, will begin on Friday.

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Entain PLC - London-based sports betting and gambling operator, via Coral, Ladbrokes, PartyPoker and various other brands - Says it has appointed Stella David as its new interim chief executive. Appoints Pierre Bouchut as senior independent director. Chair Barry Gibson says: "On behalf of the Board, I am delighted that Pierre has agreed to take on the role of Senior Independent Director to replace Stella. His extensive board experience and knowledge of the company makes him ideally placed for the role of senior independent director."

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Wentworth Resources PLC - Tanzania-focused natural gas production company - Says 57% of shareholders vote against its director remuneration resolution.

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Smoove PLC - Oxon, England-based software solutions provider for the housing market - Says the UK court has issued an order sanctioning its acquisition by Digcom UK Holdings Ltd. Notes that the conditions of the acquisition have been satisfied, with delivery of the court order expected to take place on December 19.

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Yooma Wellness Inc - Toronto, Canada-based CBD and cannabis-related wellness products maker - Says its shares have been withdrawn from business effective Friday. Says shares were halted from trading as it did not meet its July 15 deadline of publishing its audited accounts. Says it has decided to seek voluntary liquidation.

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Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Says it has received a director loan of GBP81,329 from Paulus Fillippus Venter, its non-executive director. Says the proceeds of the loan will be used for working capital purposes. Says the loan has no fixed repayment term, and an interest rate of 7%.

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Dial Square Investments PLC - Manchester-based investment vehicle - Says it has agreed to acquire EnergyPathways Ltd via a reverse takeover. Says the acquisition was conditional on its admission to London's AIM market, and thus says it will request the cancellation of its shares. Notes that it raises GBP2.0 million via a placing of 50.0 million shares at 4p per share as part of the reverse takeover. Notes that it has applied for the admission of its issued shares, which is expected on December 20. On admission it expects a market capitalisation of GBP6.3 million. EnergyPathways is an integrated energy transition company.

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By Harvey Dorset, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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