(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Close Brothers Group PLC - London-based merchant bank - To fully redeem all outstanding GBP23.4 million 2027 callable dated subordinated notes.
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Gresham House Strategic PLC - investor in smaller UK public companies - Tenders 1.6 million shares in offer, which covers full scale-back available. As a result, will buy 939,838 shares at GBP15.51 each for GBP14.6 million, which total 27% of current share capital.
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VPC Specialty Lending Investments PLC - invests in asset-backed loans to businesses originated by non-bank lenders - Notes L&F Acquisition Corp enters definitive agreement to combine with ZeroFox. Through VPC Sponsor, company currently owns 130,220 Class B shares and 167,284 private placement warrants in L&F Acquisition, held at an aggregate cost basis of USD168,051. The transaction implies an approximately USD1.4 billion post-merger pro forma equity value at a USD10.00 price per share of common stock. Following the deal, VSL's Class B shares will automatically convert into one share of ZeroFox common stock, with an implied transaction value of USD1.3 million.
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Plaza Centers NV - property investor in India - Extends long stop date for sale of its subsidiary which holds 75% in the Casa Radio project to AFI Europe NV to December 31, 2022.
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Grit Real Estate Income Group Ltd - pan-African property investment and management - Raises total of USD76.1 million from issue of 49.2 million shares in open offer and placing. Shares were priced at USD0.52. Non-Executive Chair Peter Todd says: "We are pleased by the success of the issue, and, on behalf of the board, I would like to thank existing and new shareholders for their support. The success of the issue reflects our confidence in both reducing Grit's overall levels of debt and driving further expansion in our core and expanded business, which we expect will deliver enhanced value to our shareholders. The Grit board expects to resume dividend payments in the current financial year, distributing out of net operating income generated from our existing property assets."
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Silver Bullet Data Services Group PLC - London-based provider of digital transformation services and products - Victim of cyber attack by "sophisticated hackers". Says hackers solicited falsified payments of GBP365,000 from its corporate bank account. Notes theft reported to the police, company's insurers and the Information Commissioner's Office. "This attack in no way affects the group's ability to perform day-to-day operations. The company continues to have a strong cash position and is exploring all avenues for the restitution of the funds and will update the market on this in due course," company explains.
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Trackwise Designs PLC - Tewkesbury, Gloucestershire-based products using printed circuit technology - Confirms receipt of the second quarter 2022 purchase order of GBP2.4 million, as part of its product manufacture & supply agreement, with its UK EV OEM customer. Follows GBP390,000 purchase order for Q1 2022. "The agreement is for the supply of the company's Improved Harness Technology-enabled flexible printed circuit boards for use in high and low voltage circuits in the manufacturer's vehicle battery modules and battery packs. Trackwise's technology reduces part count and assembly time while saving on space and weight," company explains.
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Severfield PLC - Thirsk, North Yorkshire-based structural steel maker - Completes refinancing of its revolving credit facility with its current banking syndicate. New facility adds GBP50 million above GBP25 million currently and extends term of facility to December 2026. "The new facility provides the group with enhanced liquidity and long-term financing to help support its growth strategy," company explains.
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MGC Pharmaceuticals Ltd - Perth, Australia-based bio-pharmaceutical company - Begins clinical study with partners Swiss PharmaCan AG and Glow LifeTech Ltd to determine the influence of MGC Pharma's proprietary supplement ArtemiC Support in patients with Long Covid syndrome. The study will enrol 150 patients suffering from post-acute Covid syndrome with 50 patients already enrolled, and is expected to be completed in February 2022. "This is a pilot study to initially obtain partial results on the effectiveness and safety of ArtemiC Support in improving the functional status and symptomatology in patients suffering from Long Covid Syndrome," company says. Adds: "A further randomised, double-blind, placebo-controlled study, to get full information on efficacy and safety of the food supplement in patients suffering from Long-Covid is expected to follow, dependent on the results of the initial pilot study."
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Chill Brands Group PLC - Grand Junction, Colorado-based cannabidiol products - Partners with the US Major Arena Soccer League, to offer company's CBD products to the league and member teams. "The partners will also create the Chill Athlete's Lab which is designed to explore and implement the use of CBD to help athletes reach their top potential," company explains. The Major Arena Soccer League represents 16 teams across the US and Mexico.
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Futura Medical PLC - Guildford, Surrey-based pharmaceutical products for sexual health and pain - Completes US Food & Drug Administration required additional 6-month confirmatory clinical study, known as FM71, for gel formulation for treatment of erectile dysfunction MED3000 taking a "least burdensome approach". "Overall, there was a very high degree of comprehension of the label and leaflet to increase confidence that the product will be used appropriately in an OTC setting. These results therefore support the regulatory submission for OTC designation and enable Futura to finalise the OTC product label for a US filing," company says. Timelines remain on track to enable planned US regulatory submission by the end of Q3 2022, and for targeting US OTC FDA approval of MED3000 in Q1 2023.
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Ondine Biomedical Inc - Vancouver, Canada-based life sciences company focused on photodisinfection-based therapies - Alongside University of Navarra in Spain, initiates clinical trial deploying nasal photodisinfection for a new variant-agnostic approach to stop SARS-CoV-2 replication in high-risk viral carriers. Study will look into impact of nasal decolonization on asymptomatic SARS-CoV-2 infected individuals. Chief Executive Carolyn Cross says: "The continuing emergence of SARS-CoV-2 variants such as Omicron, demonstrates that this research is more important than ever. Ondine Biomedical's laboratory work, as well as that of researchers at the University of Navarra, have demonstrated that our photodisinfection technology is extremely effective against SARS-CoV-2."
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Hemogenyx Pharmaceuticals PLC - London-based developer of drugs for blood diseases - Partners with WuXi Advanced Therapies to manufacture lentiviral vectors for phase I trial of HEMO-CAR-T programme, which will look into acute myeloid leukaemia. "HEMO-CAR-T cells are made using the Company's proprietary humanised monoclonal antibody against a target on the surface of AML cells. This cutting-edge application of cell-based immune therapy offers a potentially more benign and effective form of therapy that, if successful, could have a major impact on treatment and survival rates for AML. HEMO-CAR-T is planned to be the company's first therapeutic candidate to enter clinical trials," company says.
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Abingdon Health PLC - York-based lateral flow test maker - Raises GBP1 million from oversubscribed open offer following shareholder approval. Gets 7.3 million valid acceptances in open offer. As a result, raises total of GBP6.5 million from placing, subscription and PrimaryBid offer. Abingdon says the cash will be used for working capital ahead of anticipated order inflow for its Covid-19 tests.
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Savannah Energy PLC - African‑focused energy company - Hopes to have shares readmitted to AIM on or around December 22. Reaches agreement in principle with the Niger Ministry of Petroleum to formally renounce the R1/R2 PSC and the R3/R4 PSC and to combine the R1/R2 PSC Area with the R3/R4 PSC Area into one amalgamated R1234 PSC. Expects R1234 PSC will become effective in first quarter of 2022 and will reset licence validity to up to 10 years for the exploration phase, comprising an initial term of four years, with the option to extend this term by two further terms of two years each.
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Power Metal Resources PLC - London-based exploration and development company - Completes Phase I exploration at three of its seven uranium properties in Canada, namely Tait Hill, Thibault Lake and Cleawater. Notes projects in Athabasca Basin in northern Saskatchewan, Canada. Says 20 rock samples were collected for assay testing and the results demonstrate high grade uranium with the highest grade of 38,600 parts per million or 3.86% uranium oxide. Chief Executive Paul Johnson says: "The confirmation of high grade uranium through assay testing of rock samples samples from the recent exploration programme is extremely positive and demonstrates the value of the diligent review work undertaken when the footprint was selected for staking earlier in the year."
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Empire Metals Ltd - Gold and copper miner with assets in Australia, Georgia and Austria - Will start new series of drilling programmes in first quarter of 2022 at Eclipse gold project in Eastern Goldfields of Western Australia. Shaun Bunn, managing director, says: "A thorough and rigorous assessment of the data collected to date has been completed, leading to a much better understanding of the geological and structural controls of the gold mineralisation, which is vital for designing and implementing the next phase of exploration. The analysis by our technical team has confirmed that gold mineralisation at Eclipse is associated with a NW-striking and steeply SW-dipping shear zone with significant gold mineralisation known to extend over a strike length of more than 200 metres."
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Oriole Resources PLC - exploration company operating in west Africa - Recently completes Phase 2 diamond drilling programme at its 90%-owned Bibemi gold project in Cameroon. The programme focussed on the Bakassi Zone 1 prospect and has delivered best mineralised intervals of 6.50 metres grading 3.92 grammes per tonne gold including 1.00 metres grading 16.79 grammes per tonne gold, 5.20 metres grading 1.97 grammes per tonne gold and 2.25 metres grading 8.82 grammes per tonne gold including 1.00 metres grading 19.33 grammes per tonne gold. A follow-up programme of infill and extension drilling is nearing completion and results are anticipated in the first quarter of 2022.
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African Pioneer PLC - Isle of Man-based natural resources company - Increases measured indicated resources at 85%-owned Ongombo copper mine project in Namibia. Resources upped to 10.5 million tonnes at 1.4% copper, 7 grammes per tonne gold. Executive Chair Colin Bird says: "The company intends to progress all pertinent matters in order to bring the proposed mine into operation as soon as possible and will provide further updates as appropriate. As an order of magnitude, we are targeting a mine to process some 400,000 to 500,000 tonnes per annum with a copper production in the region of some 7,000 to 8,000 tonnes per annum. This mining plan is coincident with our stated ambition to join the small copper mining sector which internationally has largely been eliminated and, in our opinion, will be an important component of tomorrow's copper production. The deposit limits are not yet fully defined and we will be carrying out further investigations to either increase mine production or extend mine life."
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Zoltav Resources Inc - Russia-focused oil and gas explorer and producer - Plans to delist shares from London's AIM following share purchase agreement with ARA Capital. Notes ARA Capital to buy 62.6 million Zoltav shares from Bandbear for RUB1.8 billion or around USD24.3 million. "Zoltav has no significant UK based institutional investors among its Shareholders and its focus on oil and gas assets solely in Russia, together with the composition of its share register, mean that it is unlikely the business will be able to raise finance through the issue of new shares on AIM, which is one of the primary reasons for being listed," company says. Also says listing does not generally provide an opportunity to trade in meaningful volumes and will look to clear USD500,000 of costs with delisting. Plans expansion of its activities through a phased commissioning of five new fields: Pavlovskoye in February 2022; Lipovskoye in July 2022; Nepryakhinskoye in March 2023; Mokrousovskoye in 2028; and West Lipovskoye in 2030.
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By Paul McGowan; paulmcgowan@alliancenews.com
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