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(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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Norcros PLC - Wilmslow, England-based bathroom and kitchen product supplier - Proposes acquisition of Granfit Holdings Ltd with subsidiary Grant Westfield for GBP80 million, with potential earnout out of up to GBP12 million upon milestones. Grant Westfield is a UK designer, manufacturer and supplier of waterproof bathroom wall panels. Acquisition would be double-digit earnings enhancing in first financial year post completion, Norcros says. Proposes placing to raise GBP18 million, which is around 9.9% of its existing issued share capital. Placing is not condition upon shareholder approval, nor completion of the acquisition, the company notes.
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Eco Atlantic Oil & Gas Ltd - Toronto-based oil and gas exploration company - Says acquisition of Azinam Group Ltd has been cleared by TSX Venture Exchange. Issues remaining 17.9 million shares in Eco capital to Azinam Group Holdings Ltd.
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Trainline PLC - London-based rail and coach tickets app - Repurchases GBP13.0 million of GBP150 million of senior unsecured convertible bonds due 2026. Post-purchase, GBP88.1 million of the bonds remains outstanding. May make further repurchases from time to time, subject to market conditions, Trainline says.
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NetScientific PLC - London-based life sciences and sustainability technology investment firm - Notes first-quarter earnings from portfolio company PDS Biotechnology Corp. PDS' net loss year-on-year to USD8.5 million, or USD0.32 per share, from USD3.0 million, or USD0.14 per share, as research & development costs increased to USD5.2 million from USD1.3 million. PDS also announces two abstracts are accepted for presentation at the 2022 annual meeting of the American Society of Oncology. CEO Ilian Iliev comments: "Following strong progress in 2021, PDS is now approaching significant potential value inflection points, with the upcoming results of its Phase 2 trials."
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Marshall Motor Holdings PLC - Cambridge-based vehicle retailer - Constellation Automotive Holdings Ltd subsidiary CAG Vega 2 Ltd says the condition of the Financial Conduct Authority has now been satisfied regarding the acquisition of Marshall Motor. Holds acceptances for 90% of Marshall shares, and will shortly begin compulsory acquisition procedure.
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UniVision Engineering Ltd - Hong Kong-based firm which installs closed-circuit television surveillance systems - Says court hearing in respect to winding-up petition is scheduled to be heard on October 18, having been postponed in April.
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Nostrum Oil & Gas PLC - Amsterdam-headquartered oil and gas company with operations in Kazakhstan - Launches scheme of arrangement via issuing of practice statement letter to scheme creditors to implement proposed financial restructuring, as contemplated in the lock-up agreement with regards to the 8.0% senior notes due July 2022 and 7.0% senior notes due February 2025, issued by Nostrum Oil & Finance BV.
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Uniphar PLC - Dublin-based healthcare services - Says trading in line with board expectations for the first four months of 2022, and is confident of delivering organic gross profit growth in the full year, in line with its medium-term guidance. At its annual general meeting, 21% of its shareholders voted against the re-election of Jeff Berkowitz as independent non-executive director. "The board confirms that it will engage with shareholders to understand and discuss the reasons behind the proxies received against this resolution. An update on the views received from shareholders and actions taken will be provided within six months of the AGM," the company says.
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By Elizabeth Winter; elizabethwinter@alliancenews.com
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