(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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Pod Point Group Holdings PLC - EDF Energy-backed electric vehicle charging firm - Wins deal with BMW Group AG. "Under the terms of the contract, which will run for three years, Pod Point will become a BMW and MINI preferred supplier of domestic charge points, on a referral basis, to its UK customers at the time of their EV purchase," Pod Point says.
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Lamprell PLC - Hamriyah, United Arab Emirates-based provider of oil field services - Signs memorandum of understanding with New York-listed energy services firm NOV Inc to support its delivery of three 1 gigawatt offshore floating wind farms for Cerulean Winds, the UK-based floating offshore wind farm and green hydrogen infrastructure developer. "Under the terms of the MoU, NOV has stated its intent to use Lamprell as its provider for the fabrication, assembly and outfitting in relation to the construction of NOV designed tri-floaters to be used as floating foundations for the three wind farms," the company explains.
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Coro Energy PLC - low carbon energy in South East Asia - Enters into 25-year power purchase pact for its rooftop solar project in Vietnam. Coro Renewables Vietnam, 85% owned by firm with remainder held by Vietnamese partner Vinh Phuc Energy JSC, enters into pact. Vietnamese high volume manufacturer of textiles Phong Phu will buy three megawatts of electricity. In addition, company announces it completes debt restructuring. In March, it signed heads of terms with Lombard Odier Asset Management Europe Ltd and other loan holders for the discussions of the company's proposals to restructure its EUR22.5 million 5.0% secured notes. Coro wanted noteholder consent to extends the notes' maturity by two years to April 12, 2024, remove all further cash interest payments on the notes before the maturity date and increase the coupon to 10%, and should the company's interest in Duyung PSC be sold, proceeds will be used to first repay the capital and 20% of what is left be distributed to noteholders.
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Vaalco Energy Inc - Houston, Texas-based hydrocarbon exploration company - Successfully drills Avouma 3H-ST development well in offshore Gabon. "Encountered premium Gamba sands with 28% porosity and one Darcy of permeability," Vaalco says. "Confirms extension of Avouma reservoir and is forecasted to increase the overall recovery from the field, potentially allowing for additional wells at Avouma." Initial output expected in "next few weeks".
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Blencowe Resources PLC - miner focused on developing the Orom-Cross graphite project and Akelikongo nickel project in Uganda - Says RAB Capital, a specialist mining investor, invests GBP800,000 to become company's largest shareholder. Blencowe adds: "These proceeds will be used to enhance project development at both of the company's projects, namely Orom-Cross graphite project and Akelikongo nickel project." In addition, company says total resource at project increased by 50% to 24.5 million tonnes.
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Empyrean Energy PLC - oil & gas explorer and producer with assets in China, Indonesia and US - Drilling begins at Jade prospect located in Block 29/11 permit, offshore China.
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Sabien Technology Group PLC - London-based boiler efficiency products - Wins further UK government pact worth GBP264,000 for deployment of M2G Boiler Optimisation Technology. "A minimum of GBP206,000 of the order will be recognised in the FY22 financial year," Sabien says.
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Haydale Graphene Industries PLC- Ammanford, Wales-based graphene technology company - Awarded funding of GBP186,403 by UK innovation agency to develop smart composite tooling for the aerospace industry. Tools will be comprised of functionalised nanomaterials. "The project is due to start in April 2022 and is expected to run for 24 months," Haydale says.
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Goodbody Health Inc - Cannabidiol products company formerly known as Sativa Wellness Group - Unit PhytoVista Laboratories granted controlled drugs licence in UK. Approval allows unit to handle schedule 1 controlled drugs, which include cannabis. "This comes as the UK authorities look to the regulation of the UK consumer cannabinoid product testing infrastructure ahead of wider compliance within the industry," Goodbody says.
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Immotion Group PLC - Manchester, England-based virtual reality entertainment company - Says four new partner location signed, while Sea Life London site expanded to include 16-seater theatre in new three-year pact. Says first quarter revenue more than doubles to GBP2 million from GBP800,000 a year prior.
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Cordel Group PLC - London-based artificial intelligence platform for transport corridor analytics - Says total revenue in first quarter of 2022 more than doubles annually to GBP629,000 from GBP294,000. Loss before interest, tax, depreciation and amortisation narrows to GBP204,000 from GBP451,000.
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Nightcap PLC - London-based bar operator - Announces opening of new Tonight Josephine branded site in Liverpool for later this year. "The latest site for Tonight Josephine is located at 85-89 Hanover Street, Liverpool, L1 3DZ. The site covers approximately 7,893 square feet split across a ground floor entrance, basement and lower basement and has an unrestricted capacity of 350. Its licensed hours are 2:00 am Monday to Thursday and 3:00 am Friday and Saturday," Nightcap says. "This latest opening will be the first for the group in Liverpool and the second new site for the Tonight Josephine brand in recent weeks, following the successful opening in Cardiff last week and is the sixth site for the brand in total. It takes the total number of sites within the Adventure Bar Group to 11."
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React Group PLC - South Derbyshire, England-based cleaning, hygiene and decontamination firm - Awarded three-year pact for facilities maintenance cleaning for new customer in education sector. Pact begins in May and has three-year term of GBP700,000. "The contract includes a price increase mechanism each year to provide for future increases in the cost of labour and materials," React says.
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Marks Electrical Group PLC - Leicester-based electrical products retailer - Says revenue for year ended March 31 rises 44% annually to record GBP80.5 million from GBP56.0 million. In final quarter, sales up 19% to GBP20.7 million and GBP17.4 million.
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Audioboom Group PLC - London-based podcast producer - Revenue for first quarter of 2022 rises to record USD19.7 million from USD9.5 million a year prior. Adjusted earnings before interest, tax, depreciation and amortisation GBP900,000 from GBP30,000. "Average global monthly downloads increased for the ninth successive quarter to 126.2 million, up 45% on Q1 2021," Audioboom says.
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Sareum Holdings PLC - Cambridge, England-based drug developer for cancer and autoimmune diseases - European Patent Office issues formal notification of grant for a patent for invention associated with Sareum's proprietary SDC-1802 TYK2/JAK1 inhibitor programme.
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By Eric Cunha; ericcunha@alliancenews.com
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