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Pin to quick picksR8 Capital Inv Share News (MODE)

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TRADING UPDATES: FRP Advisory buys Wilson Field for GBP4.8 million

Tue, 12th Sep 2023 14:25

(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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FRP Advisory Group PLC - London-based corporate finance, restructuring and debt adviser - Buys Wilson Field Group for GBP4.8 million. This comprises cash of GBP3.1 million and the issue of new ordinary shares with a value of GBP1.7 million, plus a subsequent payment for the net assets acquired on completion. Wilson Field is based in Sheffield and comprises the operating businesses of Wilson Field Ltd and Wilson Field Financial Services Ltd, providing restructuring advisory and debt advisory services. Two of the firm's Directors, Nick Wilson and Kelly Burton will join FRP as Partners. In year to August 31, 2022, Wilson Field generated revenue of GBP5.3 million and reported earnings before interest, tax, depreciation and amortisation of GBP700,000. "FRP's strategy is to generate sustainable profitable growth by combining a focus on organic growth with acquisitions that meet the Group's selective criteria. This approach enables the Group to increase market share, broaden the service offering to clients and expand the geographical footprint," FRP says. The acquisition is the co'mpanys seventh since its initial public offering in March 2020.

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Aterian PLC - London, England-based mining firm, formerly known as Eastinco Mining & Exploration PLC - Extends support to Morocco in the aftermath of earthquake. Says operations have not been directly impacted. "We are deeply saddened by the devastation caused by the recent earthquake in Morocco. Our thoughts and prayers are with the affected communities. Aterian is committed to providing immediate assistance and longer-term support to help Morocco recover and rebuild," says Chief Executive Simon Rollason.

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Northern Bear PLC - Newcastle, England-based building services firm - Confirms that it has continued to trade in line with management's expectations since publication of its preliminary results on July 17. Says trading in the new financial year, from April 1 to July 31, is ahead of strong prior year results for the same period, and site activity levels remain high despite the ongoing economic challenges and their related impact on the construction industry. Non-Executive Chair Jeff Baryshnik says: "I am delighted that whilst relatively early in the Group's financial year, our forward order book remains robust and is expected to support full year results in line with management's and the market's expectations." Expects to release interim results in November.

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Beeks Financial Cloud Group PLC - Glasgow-based cloud computing and connectivity provider - confirm the successful "go live" of the Johannesburg Stock Exchange's Colo 2.0, making on demand private cloud computing and low latency analytics available to JSE customers. JSE is the largest stock exchange in Africa. The contract was signed in June. "Colo 2.0 is an advanced managed infrastructure as a service based on the Beeks Exchange Cloud offering, in partnership with IPC. Colo 2.0 provides JSE customers with leading edge innovative hosting and connectivity solutions, accessing on-demand private cloud computing and low latency analytics," Beeks says.

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Billington Holdings PLC - Barnsley, England-based company focused on structural steel and engineering - Says subsidiary, Billington Structures Ltd, has been certified as 'carbon neutral' for its operations, by Carbon Neutral Britain, following their audit of Billington Structures emissions and carbon dioxide offsetting programme. Billington says it is undertaking carbon reduction initiatives across the company with a view to all of the company's businesses being certified as carbon neutral "in due course."

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Ondine Biomedical Inc - Vancouver-based life sciences company specialising in photodisinfection therapies - Launches an eight-month evaluation of its Steriwave nasal photodisinfection technology at the University of Alberta's Mazankowski Alberta Heart Institute in Edmonton, Canada. Says the evaluation will include around 1000 cardiac surgery patients treated with Steriwave to further reduce post-surgical infection risk. Surgical site infections are complications in cardiac surgery patients and are strongly associated with poorer prognosis, longer hospitalization, higher medical costs, and high mortality. "Universal pre-operative nasal decolonization has been found to significantly decrease SSIs caused by the infection-causing pathogen S. aureus following cardiac procedures," Ondine says.

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Pires Investments PLC - London-based investment company focusing on next-generation technology - Seeks shareholder approval to change the name of the company to Mindflair PLC. Says it will hold its annual general meeting on October 9.

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R8 Capital Investments PLC - London-based fintech with a bitcoin banking app - Changes name from Mode Global Holdings PLC. The ticker "MODE" will remain unchanged.

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By Sophie Rose, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
15 Mar 2024 19:45

IN BRIEF: R8 Capital targets August to complete Redwood acquisition

R8 Capital Investments PLC - London-based fintech with a bitcoin banking app - Expects the acquisition of Redwood Financial Partners Ltd, announced in November, to be completed by the end of August. Explains that the extended time frame is largely to accommodate an IFRS conversion exercise of Redwood Bank Ltd, RFPL's wholly-owned subsidiary, and to provide sufficient time for the Prudential Regulation Authority to provide consent to change of ownership, required under the transaction. Believes the deal is progressing well, although it remains subject to due diligence and regulatory approval.

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10 Nov 2023 15:10

R8 Capital plots July conclusion for Redwood acqusition

(Alliance News) - R8 Capital Investments PLC on Friday said it expects its acquisition of Redwood Financial Partners Ltd to be sealed around the start of July.

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2 Oct 2023 18:13

IN BRIEF: R8 Capital plots reverse takeover of Redwood Financial

R8 Capital Investments PLC - London-based fintech with a bitcoin banking app - Plans to buy Redwood Financial Partners Ltd, the parent company of Redwood Bank Ltd, a specialist business bank. Payment terms have not been finalised, but expects consideration will be in excess of GBP50 million. This will be satisfied entirely by the issue of new R8 shares. Further, intends to carry out a fundraising to be contributed to the bank as tier 1 regulatory capital. Redwood Bank is a specialist business bank and was launched in 2017. R8 explains should the acquisition complete, it would constitute a reverse take over under listing rules and the company would apply for the re-admission of its shares to the Official List and the Main Market of the London Stock Exchange. As a result, requests suspension of the company's listing from today.

Read more
7 Sep 2023 15:46

UK shareholder meetings calendar - next 7 days

Friday 8 September 
Berkeley Group Holdings PLCAGM
Byotrol PLCAGM
Gear4Music PLCAGM
JLEN Environmental Assets Group LtdAGM
Kenmare Resources PLCEGM re proposed tender offer
Mid Wynd International Investment Trust PLCAGM
SVM UK Emerging Fund PLCAGM
Monday 11 September 
SDCL Energy Efficiency Income Trust PLCAGM
Tuesday 12 September 
DWF Group PLCGM re cash acquisition by Aquila Bidco Ltd
Northern Bear PLCAGM
RC365 Holding PLCAGM
Rockwood Strategic PLCAGM
Sure Ventures PLCAGM
Warehouse REIT PLCAGM
Wednesday 13 September 
BH Macro LtdAGM
Castelnau Group LtdAGM
Creightons PLCAGM
Eckoh PLCAGM
Glantus Holdings PLCEGM re takeover by Basware
Hornby PLCAGM
Marlowe PLCAGM
Worsley Investors LtdAGM
Thursday 14 September 
AEW UK REIT PLCAGM
Altitude Group PLCAGM
Auto Trader Group PLCAGM
Baker Steel Resources Trust LtdAGM
Belluscura PLCAGM
IG Design Group PLCAGM
Mode Global Holdings PLCAGM
Ryanair Holdings PLCAGM
Twenty Four Income Fund LtdAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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21 Aug 2023 14:54

Mode Global Holdings to change name to R8 Capital

(Alliance News) - Mode Global Holdings PLC on Monday said it will be renamed to R8 Capital PLC.

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4 Jul 2023 13:44

Mode Global loss narrows and revenue falls; seeking future investment

(Alliance News) - Mode Global Holdings PLC on Tuesday said its annual loss narrowed as costs decreased, while revenue was hurt by a decline in its crypto business.

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17 Mar 2023 21:10

TRADING UPDATES: Literacy Capital nets gain from investment disposal

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

Read more
17 Mar 2023 20:49

TRADING UPDATES: Literacy Capital nets gain from investment disposal

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

Read more
26 Jan 2023 21:52

TRADING UPDATES: Proton wins order; Caerus Mineral sells assets

(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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19 Jan 2023 16:54

TRADING UPDATES: Mode Global considers sale; RPS takeover complete

(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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30 Nov 2022 20:46

TRADING UPDATES: Scholium profit grows; Honye Financial loss narrows

(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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18 Nov 2022 14:43

IN BRIEF: Mode Global assures shareholders after FTX collapse

Mode Global Holdings PLC - London-based fintech with a bitcoin banking app - Assures shareholders that it continues to hold itself to the highest standards of customer protection and transparency following the collapse of the Futures Exchange, which has sent "shock waves through the industry and will undoubtedly have damaged confidence in the short to medium term". Adds that it is confident that its business principles and model can be trusted by all stakeholders and that it operates a different business model from FTX.

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4 Nov 2022 20:38

TRADING UPDATES: SigmaRoc files patent; Griffin restarts operations

(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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27 Oct 2022 16:59

IN BRIEF: Mode adds to platform with new cryptocurrency tokens

Mode Global Holdings PLC - London-based bitcoin banking app - Announces addition of new cryptoassets to platform. Ethereum is now available to buy and sell for all Mode app users, while Solana and Polkadot will follow in the next two weeks.

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