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(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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Alpha FX Group PLC - London-based foreign exchange risk management and international payments - Restarts trading relationship with unnamed "key" Norwegian client. Entered settlement agreement with client in March 2020 at onset of Covid pandemic, where the client was required to make weekly repayments until June 2022 in respect of their obligations for unpaid margins. "Since this date, the client's financial standing has continued to strengthen, and they have consistently met all 104 of their weekly repayment obligations on time. As a result, the gross balance outstanding as at April 1, 2022 has been reduced to GBP2.9 million," company says. Notes it will allow clients to pay outstanding amount over rest of 2022, extending deadline past June 2022.
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Marlowe PLC - London-based company focused on business safety and regulatory compliance - Says at Capital Markets Day its trading has been "strong" and expects to meet 2024 strategic and financial targets "materially ahead of schedule". Company says the "significant development" in building its compliance platform - which now encompasses intelligence, consultancy, software and assurance - the reason behind strong trading.
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Aferian PLC - Leeds-based video streaming - Acquires 100% share capital of Exabre Ltd, trading as The Filter, a UK-headquartered AI-powered video recommendation service. Initial consideration of deal will GBP1.5 million in cash, with up to GBP2.5 million subject to achieving certain annual recurring revenue growth at increments of additional ARR of GBP500,000. Company says: "The Filter's technology will significantly accelerate the roadmap of 24i's video streaming platform by adding enhanced analytics, recommendations and personalisation to its existing data analytics services. 24i will also market The Filter's managed service solution to its existing OTT and Pay TV customers and prospects as a standalone service."
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Glantus Holdings PLC - Dublin-based accounts payable automation and analytics - Agrees new partnership with TealBook, a supplier data firm that powers e-procurement technology. "This partnership will enable customers of both parties to access robust supplier information and insights and stronger AP intelligence," company explains. Adds: "The referral party vendor and supplier information through TealBook's comprehensive supplier intelligence capabilities will enable TealBook customers to utilize the Glantus data analytics solution to understand opportunities for efficiency and risk mitigation within their AP operations and payments."
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Redx Pharma PLC - Cheshire-based cancer and fibrosis drug developer - Agrees collaboration with the Garvan Institute of Medical Research, an Australian medical research institute, which expands on company's preclinical work already underway. "The collaboration aims to better understand treatments that could lead to increased patient survival in currently very poorly treated highly fibrotic cancers, such as pancreatic cancer," company says. Adds: "Through this collaboration, Redx and the Garvan will develop an enhanced understanding of cancer-associated fibrosis through detailed scientific studies utilising patient-derived tumour tissue grown in mice, which is thereby able to mimic human disease as closely as possible."
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e-Therapeutics PLC - Oxford, England-based computational drug discovery - Enters research collaboration agreement with iTeos Therapeutics Inc, a clinical-stage biopharmaceutical company focused on discovery and development of a new generation of immuno-oncology therapeutics. "The collaboration will focus on the discovery of novel therapeutic approaches and targets in immuno-oncology. e-therapeutics will remain free to explore additional collaborations in the space," company explains. e-therapeutics will receive upfront and near-term cash payments material to the revenue of the company.
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Atalaya Mining PLC - copper miner in Spain - Sees "significant" increase in mineral resources at Proyecto Masa Valverde. PMV is located in the Iberian Pyrite Belt of southern Spain. PMV consists of two deposits, Masa Valverde and Majadales. Sees increase in tonnage and contained copper, silver and gold from prior estimate of 42%, 33%, 26% and 34%, respectively. Masa Valverde initial indicated mineral resource now 16.9 million tonnes at 0.66% copper, 1.55% zinc, 0.65% lead, and 27 grammes per tonne silver and 0.55 grammes per tonne gold. Chief Executive Alberto Lavandeira says: "We remain excited about the continued exploration potential at PMV, given the many anomalies our exploration team has identified. We hope to make further discoveries, building on our success in discovering the Majadales deposit, which is shallower and higher grade than Masa Valverde and thus may play a key role in optimising future development scenarios."
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By Paul McGowan; paulmcgowan@alliancenews.com
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