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TRADING UPDATES: Amigo heads to vote; UniVision court date pushed back

Tue, 15th Mar 2022 17:18

(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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Amigo Holdings PLC- guarantor loans provider - Says high court grants order that schemes of arrangement can proceed to a creditor vote. "The road ahead is not easy, but we are on the right track and today's court decision is another step forward," says Chief Executive Gary Jennison. Creditors' meeting to be held in May and, if they vote for the scheme, the court sanction hearing is expected to be held later that month. Scheme is being proposed to settle claims following probes from UK regulators into mis-sold loans and the way that Amigo dealt with customer complaints. Jennison says "significant hurdles remain". Adds: "We are pleased that the court has agreed that the schemes can proceed to a creditor vote. The financial offer has been significantly improved and we will be doing everything we can to encourage creditor participation."

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Digital 9 Infrastructure PLC - London-based digital infrastructure investor - Signs new GBP300 million revolving credit facility with an international syndicate of four banks including the Royal Bank of Scotland International Ltd, DNB Ltd, Royal Bank of Canada and Banco Santander. "Triple Point Investment Management LLP, the group's investment manager, continues to identify attractive investment opportunities for the company's portfolio. The new RCF will provide the group with additional committed capital, to help finance the acquisition of further investments from its near-term pipeline. The investment manager remains focused on converting its pipeline of about GBP2 billion of potential assets," company says.

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Aptitude Software Group PLC - London-based finance transformation and automation software - Decides to further increase investment in product strategy in 2022 and 2023, though warns this is expected to "dampen short term profitability". "The board believes this accelerated strategic investment will create longer term sustainable value for the group and our shareholders," it says. Expects improving margins from 2024 and beyond. This comes alongside annual results for 2021, in which total revenue rises 3% to GBP59.3 million but pretax profit falls to GBP6.2 million from GBP8.1 million in 2020.

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Mobile Streams PLC - mobile content provider - Raises GBP1.2 million in placing priced at 0.30p per share. Funds to support company's growth and to create a new joint venture partnership with Gfinity PLC for Mobilegaming.com. "The company is working to agree the terms of the joint venture and expects to announce the conclusion of the agreement shortly," it says. Gfinity shares rise 6.2%.

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Smart Metering Systems PLC - Glasgow-based provider of end-to-end services in utility connections, smart metering and energy management - Pretax profit in 2021 slumps to GBP8.3 million from GBP195.0 million in 2020, which was attributed to a hefty gain from its I&C meter portfolio disposal the year prior. Revenue improves to GBP108.5 million from GBP103.0 million. Annual dividend upped to 27.5 pence from 25.0p. Chief Executive Tim Mortlock says: "Our contracted smart meter order pipeline remains solid and now more favourably weighted to larger, well-financed independent energy suppliers, and supported by the extension to our exclusivity agreement with Shell Energy Retail. We expect our installation rate to progressively increase throughout the coming year."

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UniVision Engineering Ltd - Hong Kong-based firm which installs closed circuit television surveillance systems - Court hearing for winding up petition adjourned until April 19, 2022. Hearing regards GBP565,280 alleged debt owed by company to sub-contractor T&P Solutions Ltd, formerly known as T&P Construction Co. Previously says: "The company intends to defend and oppose the petition. The company has separately been advised that it has a cross claim against T&P, inter alia, for breach of contract and non-performance and it intends to claim damages for the same."

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ValiRx PLC - cancer and women's health treatment developer - Says it is assessing options to acquire capabilities and infrastructure to create a "more efficient and effective" translational drug development service. Says revenue generated from providing pre-clinical development services would enable continued investment in advanced testing and analysis technology and support the progression of ValiRx in-house pipeline projects.

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Tlou Energy Ltd - power company focused on sub-Saharan Africa - Says contract for the construction of the transmission line to connect the Lesedi power project to Botswana's electricity grid has been signed. Botswana-based Zismo Engineering Pty Ltd has been engaged to construct the line, and expects to mobilise plant and equipment on site in the coming weeks.

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By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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