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Pin to quick picksMustang Energy Share News (MUST)

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TRADING UPDATES: Europa eyes fundraise; Eastinco extends long stop

Fri, 25th Mar 2022 18:51

(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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Angle PLC - Surrey, England-based liquid biopsy company - Notes use of its Parsortix system by a Milan-based cancer research institute in a study looking at early stage triple negative breast cancer patients. Researchers used Parsortix to isolate and harvest circulating tumour cells. Angle says the study shows Parsortix has the potential to provide information on tumour evolution and identify actionable therapeutic targets that could help determine future treatment options for patients with chemotherapy-resistant disease.

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Helios Underwriting PLC - London-based limited liability vehicles investment company - Increases retained capacity at March 25 by 84% to GBP171.9 million to GBP93.5 million the same time a year ago. Reinsured capacity at March 25 increases 18% to GBP60.8 million from GBP51.5 million year-on-year. Company says it remains "confident" it will deliver "improved results" when compared to the market as a whole.

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Europa Oil & Gas Holdings PLC- Ireland and Morocco focused oil and gas exploration and production company - Asks shareholders to vote on a conditional raising of GBP7 million and a subsequent issuing of 390 million shares at 1.8 pence each to fund the acquisition of a 25% in Serenity, UKCS Block 13/23c. Serenity is a oil field located in the Central North Sea. Drilling is expected at Serenity in summer.

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Bushveld Minerals Ltd - vanadium producer in South Africa - Extends the notice period for Mustang Energy PLC to issue notice to Bushveld in respect of the backstop announced on January 19 until March 28. The notice relates to Mustang's investment into VRFB Holdings Ltd in which Bushveld's 84% owned subsidiary holds a 51% interest.

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Pembroke VCT PLC - venture capital trust that invests in companies in design, education, food, beverage & hospitality, wellness, digital services and media sectors - Resolves to use GBP10 million of its GBP20 million over-allotment facility in relation to its subscription offer. This increases the amount that can be raised under the offer to GBP50 million.

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HSBC Holdings PLC - London-based banking and financial services company - Non-executive Director Rachel Duan acquires 3,000 American Depositary Shares at USD33.65 each, worth USD100,950, on Wednesday.

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Advanced Oncotherapy PLC - London-based proton therapy system provider - Announces equity fundraise of GBP2 million through a subscription of 8.0 million shares at a price of 25 pence each. The subscription shares have been subscribed for by Odey Asset Management LLP. Company says the issue price represents a premium of 6.4% to the closing middle market price of an ordinary share on Thursday.

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Kingswood Holdings Ltd - London-based wealth manager - Agrees to increase its master services agreement cap with Kingswood LLP to GBP625,000 for 2022. Kingswood Holdings entered a master service agreement with Kingswood LLP in December 2020. It contained a provision which capped the maximum payment due to Kingswood LLP in any calendar year at GBP250,000. In 2021, this increased to GBP400,000.

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Eastinco Mining & Exploration PLC - mining project investment company focused on Africa - Extends long stop agreement in relation to its acquisition of Aterian Resources Ltd from Altus Strategies PLC. Long stop extends to April 29.

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Novacyt SA - Surrey, England-based biotechnology company - Chief Executive Officer David Allmond acquires 43,500 shares at GBP2.31 each, worth GBP100,485, on Friday.

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Stagecoach Group PLC - Perth, Scotland-based transport company - Notes that Inframobility UK Bidco Ltd, a company wholly owned by Pan-European Infrastructure III SCSp, has acquired 93.7 million Stagecoach shares held by Threadneedle Asset Management Ltd. This represents 17% of Stagecoach's share capital.

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By Heather Rydings; heatherrydings@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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15 Mar 2024 17:36

EARNINGS AND TRADING: Cykel and Mustang push back takeover deadline

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

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16 Feb 2024 14:31

IN BRIEF: Mustang and Cykel agree to extend acquisition deadline

Mustang Energy PLC - London-based special purpose acquisition company - Announces with Cykel AI PLC that the pair have extended the deadline for Mustang to make a firm decision or offer for Cykel to March 15 from February 16. In January, Mustang entered into a non-binding heads of terms deal to acquire the entire share capital of Cykel, a London-based software firm specialising in advanced artificial intelligence products, through the issue of 1.844 new Mustang shares for each Cykel share. The deadline may be further extended at the request of Cykel, Mustang says.

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19 Jan 2024 14:19

UPDATE: Mustang Energy inks deal to buy Cykel AI; interim loss widens

(Alliance News) - Mustang Energy PLC on Friday said it had struck a deal to acquire Cykel AI for GBP19.2 million.

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19 Jan 2024 09:40

Mustang Energy inks deal to acquire Cykel AI for GBP19.2 million

(Alliance News) - Mustang Energy PLC and Cykel AI PLC made joint announcements of the proposed acquisition on Friday.

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4 Dec 2023 16:09

IN BRIEF: Mustang Energy opts against buying Acacia interest in VFRB-H

Mustang Energy PLC - London-based special purpose acquisition company focused on energy storage and stationary battery assets - Opts against acquiring Acacia Resources Ltd's minority interest in VFRB Holdings Ltd. Says this follows announcements in August and September, when it said it was in negotiations with the shareholders of VRFB-H, being Bushveld Minerals Ltd and Acacia, over renegotiating the terms in which Mustang would acquire their interests in VRFB. As announced two weeks ago, Bushveld was to begin a formal sale process for its interest in VRFB-H, which Mustang decided against participating in. As a result, Acacia and Mustang have now concluded that it is not in either parties' best interest to pursue the acquisition of Acacia's minority interest in VRFB-H. Says it continues to "actively consider" acquisition opportunities and that further announcements will be made in "due course".

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12 Sep 2023 17:39

IN BRIEF: Mustang Energy agrees backstop fee payment to Bushveld

Mustang Energy PLC - London-based special purpose acquisition company focused on energy storage and stationary battery assets - Agrees with Bushveld Minerals Ltd on the sum of backstop fees owed as a result of redemption of the company's convertible loan notes, previously announced. The sum of GBP121,278.75 will be satisfied by the issue of 606,394 shares at GBP0.20 each. Also agrees to pay the USD420,000 working capital facility provided by Bushveld in January 2022 and January 2023. The facility matures on December 31 2023 or if the company completes an equity or debt raising of no less than GBP1 million. Further, continues to negotiate the terms of the acquisition of 100% of the shares in VRFB Holdings Ltd.

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9 Aug 2023 14:36

Bushveld Minerals to receive 22% stake in VRFB after note redemption

(Alliance News) - Bushveld Minerals Ltd on Wednesday said holders of convertible loan notes in Mustang Energy PLC have elected to redeem their notes.

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28 Jul 2023 13:04

Bushveld Minerals notes Garnet to take 60% stake in Enerox from VRFB-H

(Alliance News) - Bushveld Minerals Ltd on Friday noted that VRFB Holdings Ltd has received notice from Garnet Commerce Ltd regarding its option in Enerox Holdings Ltd, which wholly owns Enerox GmbH, the owner of the CellCube brand and energy storage system.

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9 May 2023 17:59

IN BRIEF: Mustang receives Austrian approval for Enerox stake purchase

Mustang Energy PLC - London-based special purpose acquisition company focused on energy storage and stationary battery assets - Receives approval of the Federal Ministry of Labour & Economic Affairs of the Austrian government regarding the proposed change of control of Enerox Holdings Ltd, the owner of the CellCube brand, an energy storage system. In mid-April, it entered into a conditional agreement with Garnet Commerce Ltd and VRFB Holdings Ltd under which VRFB Holdings has agreed to acquire Garnet's 50% interest in Enerox. The total consideration to Garnet for its shareholding in Enerox is USD33.2 million.

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12 Apr 2023 18:02

IN BRIEF: Mustang Energy set to acquire interest in Enerox

Mustang Energy PLC - London-based special purpose acquisition company focused on energy storage and stationary battery assets - Enters into conditional agreement with Garnet Commerce Ltd and VRFB Holdings Ltd under which VRFB Holdings has agreed to acquire Garnet's 50% interest in Enerox Holdings Ltd, the owner of the CellCube brand, an energy storage system.

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28 Nov 2022 14:54

Mustang Energy to acquire Bushveld Energy's 51% stake in VRFB Holdings

(Alliance News) - Mustang Energy PLC on Monday said it entered into a deal with Bushveld Energy Ltd to acquire its 51% stake in VRFB Holdings.

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10 Oct 2022 14:45

IN BRIEF: Mustang Energy to increase stake in VRFB-H to nearly 50%

Mustang Energy PLC - London-based special purpose acquisition company - Says finalisation and review of prospectus by Financial Conduct Authority has commenced. Prospectus concerns Mustang's share exchange agreement with Acacia Resources Ltd. Mustang intends to increase its stake in VRFB Holdings Ltd to 49.5% through the purchase of Acacia Resource's 27% stake, as announced in August. VRFB-H is a 50% shareholder in Enerox Holding Ltd, a special purpose vehicle which holds the entire issued share capital of Enerox GmbH, an Austrian-based vanadium redox flow battery manufacturer.

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7 Sep 2022 11:21

EARNINGS UPDATES: Maiden Union Jack Oil profit; Kistos revenue jumps

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

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2 Sep 2022 10:55

IN BRIEF: Mustang Energy gets extension for VRFB-H purchase

Mustang Energy PLC - London-based special purpose acquisition company - Receives extension to buy 27% stake in VRFB Holdings Ltd.

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5 Aug 2022 19:38

IN BRIEF: Mustang Energy increases stake in VRFB Holdings to 50%

Mustang Energy PLC - London-based special purpose acquisition company - Increased holdings in VRFB Holdings Ltd to 49.5% through acquisition of 27% stake from Acacia Resources Ltd.

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