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(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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Litigation Capital Management Ltd - asset manager specialising in dispute financing solutions - Notes successful award in investment in arbitration, following partial award reported in February. Welcomes the news as positive after its first half was hurt by timing of resolutions. The matter was heard by a tribunal appointed under the International Chamber of Commerce arbitration rules. Chief Executive Officer Patrick Moloney says: "We are pleased with the positive resolution of this investment and more generally the momentum in the progress of our portfolio in the second half of our financial year. This is of particular significance, given our first half results which were impacted by the timing, and consequently recognition of resolutions. We believe these recent resolutions demonstrate our expertise and skill in selecting and underwriting investments. Additionally, they reinforce the value and scale our funds management business adds to the group, creating significant value for our shareholders and investors."
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Galantas Gold Corp - owner of Omagh open pit gold mine in County Tyrone, Northern Ireland - Says it will begin new surface drilling program at Omagh gold project in July. Says: "Following a meeting of the Fermanagh and Omagh District Council planning committee on [Wednesday], the company has permitted development rights to commence drilling of eight exploration holes at the Omagh project site. The holes will target gaps and areas of the inferred resource at the main Joshua vein, including an additional predicted dilation zone, which has potential for higher widths of mineralisation." Chief Executive Officer Mario Stifano adds: "We are excited to mobilize the drill to embark on this new phase of exploration, as we transition from underground drilling to surface drilling. Information gathered during this drill program will be critical in helping us optimize the mine plan and potentially add high-grade ounces to production."
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Firering Strategic Minerals PLC - operator of Atex dual lithium-tantalum project in the Ivory Coast - Identifies six high-profile soil anomalies from phase 2 sampling in Atex, in conjunction with Ricca Resources Ltd, and plans approximately 11,000 metres of drilling for its phase 1 auger programme. Pending results of this programme, says further auger infill drilling on a nominal 80 metres by 20 metres grid along the defined pegmatite trends planned to define targets ahead of deeper drilling below the depth of weathering for mineralisation potential. Chief Executive Officer Yuval Cohen says: "It brings me great satisfaction to share with the market the progress resulting from our collaboration with Ricca, as we witness the realisation of an accelerated exploration pathway. By harnessing our collective expertise, we will propel the exploration process forward at an accelerated pace. While we are still awaiting the remaining results from the soil sampling programme, we are confident that we have identified the most crucial soil anomalies, allowing us to proceed with auger drilling. We eagerly anticipate commencing the comprehensive auger drilling programme and sharing further updates on our progress soon."
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eEnergy Group PLC - London-based energy efficiency-as-a-service provider - Changes financial year-end date to December 31 from June 30. Says this is due to business being weighted to the middle of the calendar year, therefore the change is "in the best interest of the group".
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Longboat Energy PLC - North Sea-focused exploration and production - Says Norwegian Ministry of Petroleum & Energy approves the formation of joint venture Longboat Japex Norge AS. Says this was the key regulatory approval sought, while completion of the transaction is now expected to occur in the first half of July.
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ECSC Group PLC - Bradford, England-based cybersecurity company - Says scheme of arrangement for acquisition by Daisy Corporate Services Trading Ltd took effect on Thursday, following delivery of the court order to the registrar of companies. ECSC is now wholly owned by Daisy. Trading of ESCS shares was suspended on AIM on Thursday, with cancellation expected on Friday. ECSC agreed to the takeover back in March. Daisy offered 54.02 pence per share in cash, valuing ECSC at GBP5.4 million in total. Daisy provides secure communications, cloud services and cybersecurity to companies and public sector organisations.
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Directa Plus PLC - London-based graphene product maker - Launches pilot for water treatment using Grafysorber with subsidiary Setcar. Says Grafysorber is a graphene-based solution for water sludge treatment. Says the new decontamination solution was demonstrated on a pilot scale to Romanian local authorities and "key players" across the oil and gas and steel industries at Setcar's Braila location, resulting in processed water with less than 5 parts per million of total petroleum hydrocarbon content. Says the aim is to achieve a continuous flow of around 50 cubic metres per hour with concentrations of up to 300 parts per million of hydrocarbons. Directa Plus Founder & Chief Executive Officer Giulio Cesareo says: "Working with Setcar to test a new concept for produced water treatment using Grafysorber is another exciting step forward for Directa Plus as it offers the potential to open us to new market opportunities and is in line with our environmental strategy that aims to help our customers achieve their sustainability targets more easily, cheaply and at a faster rate. It is also a reflection of our continued investment to improve our performance and to broaden the range of potential applications for our Grafysorber technology, to limit the waste of precious commodities, in this case, water."
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By Greg Rosenvinge, Alliance News reporter
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