(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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Rainbow Rare Earths Ltd - rare earth metals projects in Burundi and South Africa - Notes suspension order from Burundi government on the export of concentrate produced from trial mining and processing operations at its Gakara project in Burundi, which is focues on bastnaesite and monazite. Says development does not impact on Rainbow's ongoing exploration, trial mining and processing operations. "Whilst we are currently uncertain of the origins of this development in Burundi, I am in Burundi, undertaking ongoing, constructive discussions with the Ministry and other stakeholders to resolve this issue and allow exports to recommence. Whilst we have suspended the shipment of concentrate from Gakara, we plan to continue to conduct exploration, trial mining and processing activities at the project and remain committed to a swift resolution to this issue, in cooperation with the hovernment and other related stakeholders," says Chief Executive George Bennet.
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S&U PLC - Birmingham-based motor finance firm - Says Chair Fiann Coombs will be stepping down at the upcoming AGM on May 20. Appoints Jack Coombs, Fiann Coombs' brother, as an executive director, effective immediately. Jack Coombs owns a 14% stake in the company and currently works for property bridging subsidiary Aspen Bridging Ltd.
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Eleco PLC - London-based construction software developer - Announces appointment of Fredrik Pantze as chief product officer. Pantze has been the head of development at Eleco's Swedish business since 2018.
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Iomart Group PLC - Glasgow-based operator of data centres - Appoints the head of the Infrastructure-as-a-Service arm, Neil Christie, as chief operating officer.
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Renalytix AI PLC - Cardiff, Wales-based clinical diagnostics company - Announces that it has entered into an exclusive option agreement with Joslin Diabetes Center for patent filings on some additional novel biomarkers in kidney disease for development and deployment in the KidneyIntelX in vitro prognostic platform. "These proprietary blood biomarkers have the potential to significantly expand the utility of the KidneyIntelX platform, particularly in understanding how to efficiently enrol and characterize appropriate participants in new drug validation trials," said RenalytixAI Chief Technology Officer Fergus Fleming.
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Tlou Energy Ltd - seeking to use gas and solar to alleviate some of the chronic power shortage in Botswana and southern Africa - Says tenders awarded to Zismo Engineering Pty Ltd for construction of overhead lines and to South African-based OptiPower for construction of substations at Lesedi and Serowe in Botswana. "We are delighted with the response to our tender and look forward to working with our new local contractor Zismo and OptiPower, to connect our Lesedi power project to the grid at Serowe. The proposed transmission line is the key to unlocking our independently certified gas reserves and contingent resources as well as our solar potential," says Managing Director Tony Gilby.
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Hemogenyx Pharmaceuticals PLC - London-based biotechnology company - Gets notice from "a global pharmaceutical company" that it will not exercise option for intellectual property. Gives notice that it intends to exercise its own option to license GlobalCo's intellectual property on an exclusive, worldwide basis. "The company continues to work actively with GlobalCo in relation to development of the antibody, and to negotiate with GlobalCo to determine the exact terms of the licence and GlobalCo's continued involvement in the progression of CDX toward clinical trials," says Hemogenyx. This pertains to the future development of the company's product candidate CDX bispecific antibody for the treatment of acute myeloid leukemia.
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Napster Group PLC - London-based operator of MelodyVR and Napster music streaming platforms - Secures increased funding commitment from Swiss investor Nice & Green SA to a total of GBP8 million to help launch app. "We are excited to have secured this increased support from Nice & Green. This incremental funding allows us to further strengthen our balance sheet, bolster cash reserves and leverage our status as a public company in terms of access to funding," says CEO Anthony Matchett.
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Kistos PLC - London-based energy sector investor - Announces share subscription offer to fund acquisition of Tulip Oil via PrimaryBid. Says the price at which the shares will be placed will be determined at the end of the bookbuild.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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