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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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Beximco Pharmaceuticals Ltd - Bangladesh-based generic pharmaceutical products and active pharmaceutical ingredients maker - Says agreement with Bangladeshi government and Serum Institute of India Pvt Ltd to deliver 30 million vaccine doses to Bangladesh is hit by India jabs export ban. Does not expect SII to be able to deliver remaining 23 million doses by end of June as India places ban on vaccine exports as cases there surge. "The company will collaborate with SII to provide a revised supply schedule once the temporary export controls are relaxed. The expected positive impact on the current financial year, as outlined in the announcement on 5 November 2020, may therefore be mitigated," Beximco says. "In addition, Beximco Pharma confirms that the previously announced plans to distribute one million doses for the private pay market in Bangladesh are on hold. The company will review whether to resume these plans once vaccine supplies stabilise.
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Lamprell PLC - United Arab Emirates-based provider of oil field services - Awarded engineering, procurement, construction and installation pact by Saudi Arabian Oil Co as part of long-term agreement with Lamprell. "This is the organisation's second award under the LTA framework," Lamprell says. Contract includes supply and installation of three drilling jackets and two new single well observation jackets and is set for completion in 2022.
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JKX Oil & Gas PLC - UK-based hydrocarbon exploration and production company - Says unit Poltava Petroleum Co receives final verdict on tax case appeal with Poltava Tax Authorities. JKX notes case, which relates to USD14.1 million claim for royalty payments and interest penalties, goes in favour of tax authority. "PPC is under no immediate obligation to pay the judgement as the Ukrainian tax authorities have to obtain approval of the Supreme Court of Ukraine before the payment can be collected from PPC. This hearing is expected to be heard in late 2022,"
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Curzon Energy PLC - investor in US based natural gas projects - Announces a further extension to its exclusivity period with Poseidon Enhanced Technologies to June 1, as the two companies work towards a definitive purchase agreement, contemplating a reverse takeover of Curzon by PET. Poseidon aims to provide the lowest-cost solution for the food and beverage industry to achieve its goal of reducing the use of single-use plastics.
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Rainbow Rare Earths Ltd - rare earth metals projects in Burundi and South Africa - Says assays from Phalaborwa project in South Africa are "positive". Average grade confirms 0.5% total rare earths oxide. Says results "broadly supportive of previous indications from the Sasol sample and test work programme".
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NetScientific PLC - life sciences and technology investment and commercialisation company - Says corporate finance and venture capital division EMV Capital advises portfolio firm Sofant Technologies in its GBP740,000 fundraise. "This transaction increases assets under advisory by EMVC by a further GBP420,000 to GBP2.7 million," NetScientific says.
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River & Mercantile UK Micro Cap Investment Co Ltd - investment company - Announces plan to undertake fifth compulsory redemption of redeemable ordinary shares. Company says it performs redemptions to keep net asset value around GBP100 million. "At this level of NAV the board believes the company is best able to exploit fully the underlying investment opportunity available in AIM listed stocks," firm adds.
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Gunsynd PLC - London-based investment firm - Invests GBP200,000 in investment firm DiscovOre PLC. Investment forms part of DiscovOre's GBP3.5 million funding round. "DiscovOre intends to call a general meeting to approve a new investment strategy, in the medical psychedelic industry.," Gunsynd says.
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Gresham House Energy Storage Fund PLC - London-based utility-scale battery storage fund - First quarter net asset value per share rises 3.6% quarter-on-quarter to 106.66 pence from 102.96p. "The investment manager has had an active quarter, completing the acquisition of 80MW across four projects Glassenbury Extension (10MW), Port of Tyne (35MW), Tynemouth (25MW) and Nevendon (10MW)) and a further 30MW since the quarter end in the form of Byers Brae near Livingston in Scotland," company says. Quarterly payout unchanged annually at 1.75p per share.
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Frontier IP Group PLC - London-based intellectual property commercialisation firm - Says first half progress continued in so far in second half of year ending June 30. "A growing number of the Group's portfolio companies are approaching inflection points, reflected by the increased flow of equity fundraisings across the portfolio," Frontier IP adds. Notes portfolio firm Exscientia Ltd raises up to USD525 million in fundraise led by SoftBank Group Corp's Vision Fund. Exscientia raises USD225 million in Series D funding round and SoftBank can inject further USD300 million "at its discretion".
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Schroder British Opportunities Trust PLC - established to invest in a portfolio of public and private equity investments consisting predominantly of UK companies - Says an investee completed a further funding round. Says fundraise boosts value of its investment. "This funding round implies an uplift in the value of the investment of approximately GBP2.5 million compared to the carrying value of the company's investment, which is currently held at cost," investor adds.
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Seeing Machines Ltd - Canberra-based driver-monitoring technology company - Takes heart from "momentum" in mandatory driver monitoring system technologies industry in US. "These developments in the US, one of the world's largest car markets, further strengthens the company's view that DMS is fundamental to the automotive transport sector and that the fitment rate will accelerate substantially over the coming years, globally. Seeing Machines' view remains that DMS installations will increase from 1% in 2019 to more than 70% of all new vehicles by 2026," Seeing Machines adds.
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Brandshield Systems PLC - London-based cybersecurity solutions provider - Launches external threat protection test designed to help clients detect cybersecurity vulnerabilities. "Combining decades of cybersecurity expertise along with proprietary artificial intelligence and machine learning capabilities, the risk assessment platform is designed to help chief information security officers and any online company understand their risk exposure in seconds," Brandshield adds.
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MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - Canada-based Glow LifeTech, MGC's distribution partner for ArtemiC, has submitted application to get the oral spray approved by Health Canada. MGC previously posted data which showed ArtemiC "significantly improved" clinical recovery of Covid-19 patients compared to placebo group.
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IXICO PLC - London-based data analytics company - Secures contract to provide neuroimaging services for clinical trial on acute ischemic stroke with company's "largest pharma client". Pact is worth in excess of USD500,000. "The contract win reflects a further broadening of IXICO's neurological footprint into a new therapeutic area with this client and demonstrates that the company continues to build momentum in its growth strategy of further diversification into new therapeutic areas," IXICO says.
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ADES International Holding PLC - MENA-focused drilling oil and gas wells company - Secures contract renewals for seven rigs in Saudi Arabia. "Four of the rigs have a 10-year firm tenor, two rigs have a five-year firm tenor and one rig with a three-year firm tenor. The total backlog is estimated atUSD950 million with daily rates being broadly similar to current contracts," ADES adds.
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By Eric Cunha; ericcunha@alliancenews.com
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