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(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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Sabien Technology Group PLC - technology company, focused on the heating, cooling and transportation sectors - Completes work with Empiric Student Property PLC to help the student accommodation provider's goals to become net zero by 2033. "Sabien's M2G business, Sabien Technology Ltd, which focuses on CO2 mitigation devices for commercial boilers, has been working with its mutual partner, Amber Energy Solutions Ltd, over the last six months to install equipment across eight properties in Empiric's portfolio to reduce CO2 emissions," Sabien says "Empiric Student Property has also adopted Sabien's M2G cloud connect solution to support the delivery of energy efficiencies and cost savings across these properties, as well as the monitoring of longer-term energy use with the potential for further system optimisation opportunities."
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Coro Energy PLC - South East Asia-focused energy - Signs deal for disposal of Italian assets to Zodiac Energy PLC for up to EUR7.5 million. Initial cash payment of EUR1.5 million to be made to Coro within seven working days. Proposed disposal needs shareholder approval at general meeting scheduled for April 25. Coro says: "The company remains primarily focused on Southeast Asia and the significant growth and investment opportunities the region provides. In expectation of near term and long awaited developments on the Duyung PSC and the company's renewable portfolio in Southeast Asia and with a view to capturing the value inherent in the Italian Portfolio following gas price rises, the [sale purchase agreement] was concluded with Zodiac, with the consideration then being available to deploy in line with the stated strategy.
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Anglo Asian Mining PLC - Azerbaijan-focused gold, copper and silver producer - Lauds data at Garadag deposit. Findings confirm potential of asset to produce over 300,000 tonnes of copper. Anglo Asian adds: "This initial assessment by the company has not been prepared according to the JORC standard. The company intends to prepare a mineral resource estimate using the JORC procedures on completion of the evaluation programme, targeting mid-2024 for the preparation of the mineral resource estimate according to the JORC code."
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Global Petroleum Ltd - oil & gas exploration in Africa and the Mediterranean - Reports updated prospective resources estimate for PEL0094 licence in offshore Namibia. Company has 78% working interest in asset and serves as operator. Reports unrisked gross prospective resources of 3.5 million barrels of oil at asset, up from 3.3 million previously. "As the initial conclusion from our further technical work, we are pleased to report the very significant increase in prospective resources - as well as the improved risking - for our primary prospect, Marula. This, together with the supporting technical detail, will now be communicated to potential farm-in partners," company adds.
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Clean Power Hydrogen PLC - Doncaster, England-based green hydrogen technology and manufacturing company - New Zealand-based partner Fabrum Solutions Ltd receives order an order from construction firm Obayashi Corp for delivery of MFE220 unit. "The order represents Fabrum's first customer under CPH2's manufacturing agreement for which CPH2 will receive a technology fee as well as revenue from the sale of key components including CPH2 stacks," Clean Power says.
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AEW UK REIT PLC - real estate investment trust for UK regional commercial property - Acquires freehold retail warehousing unit in Bamber Bridge, Preston for GBP6.5 million. Asset is single-let to retailer Matalan Retail Ltd with over nine year left on lease. "Matalan is known to trade strongly from the location, with the store being one of its top 10 performers, as well as being the retailer's first ever store in the U.K. The lease benefits from a 2027 rent review to the higher of open market value, or 2.5% per annum compounded, resulting in a minimum reversionary yield of 10.7%," AEW UK REIT says.
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Jade Road Investments Ltd - Hong Kong-based investment firm - Says manager Harmony Capital Investors Ltd will advise firm on orderly disposal of investments it currently owns, a batch of assets it labels as "legacy portfolio". "HCIL shall, subject to the overall supervision and control of the board, also undertake general administrative, investor relations, marketing, portfolio management and risk management functions for the company," Jade Road says. Instead of an annual management fee, HCIL is to now be paid a fixed fee of USD350,000 for services connected to disposals. Jade Road adds: "This represents a substantial reduction in fees as compared to the previous agreement." Executive Chair John Croft says: "In line with the recent change to our investment policy and refocus of the company, we remain committed to the orderly disposal of our legacy portfolio. The revised services agreement with HCIL has been negotiated to provide a better alignment with the company's current objectives. This agreement reflects the importance that the board places on achieving exits from its China and other Asia based investments so that surplus cash can be deployed into its revised investment strategy."
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Allergy Therapeutics PLC - biotechnology company focused on the treatment and diagnosis of allergic disorders - Patients dosed in phase 1 of Protect trial probing novel peanut allergy vaccine candidate VLP Peanut.
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Tristel PLC - Cambridgeshire-based maker of infection prevention, contamination control and hygiene products - Submits additional data requested by the US Food & Drug Administration ahead of decision on Duo ULT high-level disinfectant. Decision is expected before end of second quarter of 2023. Tristel says: "The FDA will now commence its final review of the De Novo submission and the agency's internal rules require it to make its decision by the company's financial year-end. The FDA approval will enable Duo's use for high-level disinfection of intra-cavity ultrasound probes. Duo is already approved by the US Environmental Protection Agency for use on skin-surface ultrasound transducers."
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Nuformix PLC - London-based pharmaceutical development company - Says data finds NXP002, designed to treat lung-scarring condition idiopathic pulmonary fibrosis, is "well tolerated in ex-vivo human lung tissue". Ex-vivo refers to outside of the body. "NXP002 alone delivers a strong, consistent anti-fibrotic effect as demonstrated by modulation of the release of multiple biomarkers of fibrosis," company adds. "Overall, the results provide further support of NXP002's potential to increase efficacy of existing therapies with the benefits of inhaled delivery."
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By Eric Cunha, Alliance News news editor
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