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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.

More News
12 Jul 2023 10:31

Live Company inks streaming deal for K-pop concert

(Sharecast News) - Live Company announced a collaboration with Veeps on Wednesday, to facilitate the live streaming of its Madrid KPOP LUX concert.

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12 Jul 2023 09:20

IN BRIEF: Live Co signs streaming deal with Veeps for Madrid concert

Live Co Group PLC - Surrey-based live events and entertainment company - Signs live stream agreement with Veeps Inc for the right to transmit the Madrid KPOP LUX concert on July 22. Live Co has granted Veeps streaming rights, both live and pre-recorded, for all markets except South Korea and Japan. The price of streaming will be USD14.99 per stream if pre purchased, and USD19.99 per stream on the day. LiveCo will earn a revenue of 90% of all net proceeds.

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30 Jun 2023 15:55

Live Company secures junior sponsorship deal with KIA

(Sharecast News) - Live Company has secured a junior sponsorship agreement with South Korean carmaker KIA, it announced on Friday, for the Madrid K-POP event scheduled to take place in July.

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30 Jun 2023 11:00

TRADING UPDATES: Pod Point wins deal; Kia sponsors Live Co K-pop event

(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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26 Jun 2023 12:39

IN BRIEF: Live Co ticket sales now over 50% for Madrid K-pop events

Live Co Group PLC - Surrey, England-based live events, entertainment and sports events company - Says ticket sales are now 50% and increasing daily for K-pop events in Madrid occurring in 2023. Also expects to announce a merchandising agreement with a UK company later this week. Expects London ticket sales to begin in early July and says it will update the market "as soon as this is confirmed". On streaming, Live Co says conversation are ongoing will be announced "in due course in line with the company's strategy to open up their K-pop offering to other overseas markets", noting conversations are ongoing with potential partners. Says a key sponsorship is "in the process of being agreed" with three partners and full details will be announced in due course together with the individual sponsors.

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21 Jun 2023 12:09

LONDON MARKET MIDDAY: Shock inflation reading puts pressure on BoE

(Alliance News) - Stock prices in London were mixed at midday Wednesday, as investors digest a hotter-than-expected UK inflation reading and what that means for the Bank of England.

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21 Jun 2023 10:32

AIM WINNERS & LOSERS: Live Co shares to be suspended amid audit delay

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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21 Jun 2023 09:12

Live Co shares down over delayed audit of 2022 accounts

(Alliance News) - Live Co Group PLC shares plummeted on Wednesday, over its delayed audit and the appointment of its new auditors.

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17 May 2023 11:58

IN BRIEF: Live Co reveals final four acts for Madrid K-pop concert

Live Co Group PLC - Surrey, England-based live events, entertainment and sports events company - Says Shinee, Stayc, Cravity and Xikers are the remaining four acts for KPop Lux SBS Super Concert. The concert is set to take place in Madrid on July 22 at the 52,000 seat Civitas Metropolitano stadium. Acts Enhypen, Ateez and Ive also will perform.

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10 May 2023 13:27

TRADING UPDATES: Datalex renews partnership; Live Co sells tours

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

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10 May 2023 10:56

AIM WINNERS & LOSERS: Unbound plummets after Marwyn pulls investment

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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2 May 2023 17:29

TRADING UPDATES: Tlou receives loan to help fund Botswana operations

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

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26 Apr 2023 14:32

TRADING UPDATES: Narf Industries audit delay; Arecor wins patent

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

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4 Apr 2023 21:19

IN BRIEF: Live Co says Jason Lee's GBP750,000 investment delayed

Live Co Group PLC - Surrey, England-based live events, entertainment and sports events company - Says that the GBP750,000 investment from Jason Lee has been delayed. The payments, originally agreed to be paid by March, will now be paid in full by the end of September, Live Co says. The first GBP250,000 will be at the original 3 pence level, while the remaining GBP500,000 will be "no lower than the prevailing 10 day volume weighted average price of the closing price per share.

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27 Mar 2023 12:19

Live Co to repay debt facility early to investor RiverFort Global

(Alliance News) - Live Co Group PLC said on Monday it has arranged to fully repay a debt facility early in cash via a new equity subscription following last month's announcement.

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