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TRADING UPDATES: Jardine Matheson net assets rise, Oberon loss widens

Fri, 28th Jul 2023 16:34

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

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Jardine Matheson Holdings Ltd - Hong Kong-based holding company with interests in retail, property, hotels and motor dealerships - Net asset value per share at June 30 rises to USD100.01 from USD99.47 a year earlier. First half gross revenue falls to USD54.78 billion from USD55.99 billion a year earlier, while pretax profit falls to USD1.96 billion from USD2.10 billion. Interim dividend rises to 60 US cents from 55 cents. Executive Chair Ben Keswick says: "The group delivered a strong overall performance in the first half of 2023, as the business continued its post-pandemic recovery, with overall results exceeding pre-Covid levels seen in 2019...We are encouraged by the results from most of our businesses in the first half and are optimistic that earnings growth will continue in the remainder of the year. The group has a strong balance sheet and will continue to focus on opportunities in its core, growing markets in Asia, to create sustainable long-term growth."

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Oberon Investments Group PLC - investment management, wealth planning and corporate broking group - In the financial year that ended March 31, pretax loss widens to GBP3.9 million from GBP580,814 a year earlier. Turnover falls to GBP5.0 million from GBP6.7 million, while administrative expenses rise to GBP8.7 million from GBP7.5 million. Says it has been a year of investment for the company. Looking ahead, says: "We remain aware of the challenges of a stressed macro-economic environment and all the challenges the UK faces in a period of high inflation and rising interest rates, but we view the Oberon businesses as extremely well-positioned to grow in any market conditions and has the right team and strategy to deliver for shareholders and employees and other stakeholders in 2023 and beyond."

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DP Poland - London-based operator of Domino's pizza stores and restaurants in Poland and Croatia - Non-Executive Director Andrew Rennie to resign with effect from October 1 after his appointment as chief executive officer at Domino's Pizza Group PLC from August 1. Begins a process to identify a replacement non-executive director. As part of his resignation, says the board have agreed Rennie will no longer subscribe for 3.2 milllion second subscription shares, as planned following the acquisition of All About Pizza DOO in July last year. Says Rennie will "remain a committed and supportive shareholder in respect of his current 2% shareholding in the company".

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UniVision Engineering Ltd - Hong Kong-based company that supplies, designs, installs and maintains closed-circuit television and surveillance systems, and also sells security-related products - Receives petition brought by one of its subcontractors KML Engineering Ltd in the High Court in Hong Kong regarding Univision's outstanding debt of HKD2.1 million, or GBP209,863, to KML. KML wishes for UniVision to be wound up as a result. A hearing has been set for September 27. Univision says it continues to negotiate with KML and will defend and oppose the petition. Also notes previous announcement and says it remains in negotiations with potential investors who are looking to make a substantial investment in the company. If a substantial investment was to occur, UniVision says it is confident it will be able to meet the petition, "should this be necessary". Says further announcements will be made "if and when appropriate".

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Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development, and production company - Assumes operatorship of licence PEDL343, which holds the Cloughton gas discovery, from Egdon Resources PLC. This follows approval from industry regulator the UK North Sea Transition Authority, effective from Thursday. Egdon also notes transfer of operatorship, which is "part of a process of ensuring that Egdon prioritises core projects whilst ensuring other potentially high value opportunities are progressed at pace". Partners in PEDL343 are now Europa at 40%, Egdon at 40% and Petrichor at 20%. Europa Oil & Gas says the Cloughton field was discovered in 1986 and encountered gas throughout the Carboniferous section. Notes the well tested at rates of up to 40,000 standard cubic feet per day on natural flow. Says: "however, with the right completion and production optimisation techniques, the company believes that a well could flow at 6 million standard cubic feet per day." Chief Executive Officer Will Holland says: "The Europa technical team is now working through the subsurface data to calculate a range of probabilistic recoverable gas volumes and will produce a conceptual development plan for the field, which we believe will demonstrate the material potential value of the licence. There is undoubtedly a significant volume of gas within the structure, which could be brought online relatively quickly and would displace imported gas volumes."

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Live Co Group PLC - Says while "good progress" is being made with its 2022 annual results, these accounts will not be published by Monday next week as previously indicated. Says it will update investors in due course. Last month, Live Co appointed MHA MacIntyre Hudson, part of Baker Tilly International, as its new auditors. At the time, it said that whilst the preparation of its 2022 financial statements have been ongoing, the accounts were unlikely to be published by June 30, as required by the AIM listing rules. Accordingly, the company shares were suspended from early July.

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Science in Sport PLC - London-based performance nutrition firm - Says 45% of shareholders reject annual general meeting resolution on receiving 2022 financial accounts. Meanwhile, 33% reject vote on authorisation to allot shares, 40% reject proposal on non-pre-emptive share issues and 41% reject vote on issuing shares for cash for capital investment. Science in Sport says the latter two votes did not pass as special resolutions. Says the board will engage in discussions "with certain of its major shareholders to better understand their views".

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nanosynth group PLC - London-based company specialising in the synthesis and application of nanoparticles to create new and improve existing products - Says Chief Executive Officer Mark Duffin resigns with immediate effect. Says Gareth Cave will succeed Duffin as CEO while the company continues to consider potential funding options for the business. Trading of its shares on AIM remain suspended. Says furtehr announcements will be made "in due course as appropriate". Last month, nanosynth said it would be unable to publish its 2022 results by June 30, the deadline under AIM rules. As a result, shares remained suspended.

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By Greg Rosenvinge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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1 Mar 2024 12:07

IN BRIEF: Live Co finalising GBP200,000 injection, further financing

Live Co Group PLC - Surrey-based live events and entertainment group - Says it is finalising its capital arrangements, including a GBP200,000 injection from Chair David Ciclitira via an additional convertible loan at a 3 pence conversion price. Says it has also been with two separate unnamed strategic investors. Says: "Whilst both negotiations are ongoing, one of these has already resulted in a signed agreement. Any investments from these new strategic partners will be for further business development." Live Co says it aims to complete its initial financing arrangements by March 8 and will remain suspended until that date.

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6 Feb 2024 11:02

Live Co still in need of financing despite cost-focused 2023

(Alliance News) - Live Co Group PLC on Tuesday said that it remains uncertain whether it can continue as a going concern, despite undertaking significant cost-cutting measures between 2022 and 2023.

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2 Feb 2024 18:18

IN BRIEF: Live Co completes all matters bar placing for AIM re-trading

Live Co Group PLC - Surrey, England-based live events and entertainment company - Confirms that it has completed all matters, except for a placing which it expects to complete on Monday next week to enable re-trading of its shares on AIM in London. Says failure to do so will result in cancellation of trading on AIM with effect from Tuesday next week. On Thursday, it said it remained hopeful of completing all matters relating to its overdue 2022 results and interim first half accounts by the end of the week to enable to re-trading of it shares on AIM in London. Earlier this month, it reiterated it was in the process of finalising its accounts, envisaging completion by the end of January.

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1 Feb 2024 18:47

TRADING UPDATES: Live Co stalls results; GCM requests suspension lift

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

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9 Jan 2024 12:22

IN BRIEF: Live Co reiterates it is finalising overdue results releases

Live Co Group PLC - Surrey, England-based live events and entertainment company - Reiterates it is in the process of finalising its overdue 2022 results and interim first half accounts, envisaging completion by the end of January. At the end of December, it said it agreed with AIM that the cancellation of trading shares on AIM would take place on February 1.

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27 Nov 2023 20:02

TRADING UPDATES: Live Co to cut jobs; SDX Energy in strategy shift

(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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14 Nov 2023 13:56

IN BRIEF: Echo Energy hires new CEO as director promoted to chair

Echo Energy PLC - Latin America-focused exploration company - Hires "highly experienced geoscientist" Stephen Birrell as new chief executive officer, effective immediately. Birrell is currently a non-executive director at Coro Energy PLC and Live Co Group PLC, and managing director at Ossian Energy Ltd. He served as a non-executive director at Ascent Resources PLC from 2020 to October this year. Echo's current CEO Martin Hull steps down to become a non-executive director, as does Non-Executive Chair James Parsons. Company promotes Christian Yates, another non-executive director, to chair with immediate effect. Yates says Birrell "brings a wealth of technical and commercial experience...we look forward to leveraging his experience as we look to deliver our strategy."

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13 Sep 2023 11:51

IN BRIEF: Live Co postpones London K-Pop concert amid low ticket sales

Live Co Group PLC - Surrey-based live events and entertainment company - Postpones K-Pop Lux SBS Super Concert in London, which was due to be held next weekend at the O2 Arena. Does not provide a future date. Cites insufficient ticket sales, which it attributes to another event occurring on the same weekend in Europe. It also blames the ongoing cost of living crisis, and the scheduling of the concert falling between two other K-Pop events. Says all ticket holders will be able to receive a full refund through Ticketmaster of AXS. At the end of August, the firm had shortened the festival to two days from the three first envisaged. This was to "avoid repeating too many artists", it said at the time.

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30 Aug 2023 12:12

IN BRIEF: Live Co shortens K-Pop concert to avoid repeating performers

Live Co Group PLC - Surrey-based live events and entertainment company - Cuts next month's K-Pop concert to two days from three, saying this follows engagement with fans. The KPop-Lux concert in London will now take place on Friday, September 22 and Saturday, September 23, instead extending until Sunday, September 24. Live Co says it condensed the concert into two days "to avoid repeating too many artists". It is offering partial refunds or VIP up-sells for ticketholders that have bought all three days, and full refunds or date swaps for those that purchased single-day tickets for Sunday.

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8 Aug 2023 15:38

IN BRIEF: Live Co secures short-term loan to fund London KPOP concert

Live Co Group PLC - Surrey-based live events and entertainment company - Announces that tickets for the KPOPLUX SBS Super Concert London - which will take place from September 22 to September 24 - will be going on sale through AXS on the O2 website and through the ticketmaster.co.uk website. Pre-sale tickets will be available from Wednesday and Thursday, with the general sale starting on Friday.

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24 Jul 2023 15:48

UK shareholder meetings calendar - next 7 days

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Atome Energy PLCAGM
B&M European Value Retail SAAGM
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JZ Capital Partners LtdAGM
MITIE Group PLCAGM
Molecular Energies PLCAGM
Polymetal International PLCAGM
Safestay PLCAGM
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Vodafone Group PLCAGM
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
14 Jul 2023 12:37

IN BRIEF: Live Co signs USD70,000 sponsorship agreement with Samsung

Live Co Group PLC - Surrey-based live events and entertainment company - Signs a title sponsorship agreement with Samsung Electronics Co. Samsung Electronics is a South Korea-based maker of consumer electronics and mobile communications products. The deal is worth EUR70,000 with an additional commitment to purchase tickets for the event. Adds that Samsung have chosen to use the Madrid K-pop event to promote its Galaxy Flip 4.

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