(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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Bango PLC - Cambridge-based mobile commerce company - To offer bundled Microsoft 365 subscriptions, launching with an undisclosed global telecoms provider in the UK. Microsoft 365 combines the full Office suite of Microsoft Office 365 apps with Microsoft Teams collaboration software.
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Petrofac Ltd - Jersey-based provider of oilfield services - Reports pricing of its offering of USD600.0 million of 9.75% senior secured notes due 2026 by a newly-formed financing entity, Pyrenees Bondco Ltd. The offering of the temporary notes is subject to customary closing conditions, and settlement is expected to occur on or around Tuesday next week. The issue of the notes is part of a wider refinancing plan comprising the capital raise, a new USD180 million revolving credit facility, a new AED185 million - about USD50 million - bilateral facility and amendment of an existing USD50 million bilateral term loan facility.
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Powerhouse Energy Group PLC - Bingley, England-based company which transforms plastics and waste into clean energy - Says its priority remains to ensure its first hydrogen facility becomes fully operational during 2023. Thus, the company and its partner Peel NRE agree extensions to the date of termination rights within the collaboration agreement and exclusivity option end date, both until August 31, 2022. Peel is developing the Protos plant, the first proposed commercial application of Powerhouse's DMG waste plastic to hydrogen technology.
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Rockfire Resources PLC - London-based exploration company - Makes progress on its diamond drilling programme currently underway at Copperhead porphyry project in North Queensland, Australia. The company says more than 1,200 veins containing chalcopyrite have been recorded in core from the first three holes. "With each hole drilled, our knowledge of the Copperhead porphyry system is increasing. Structural recordings of copper and molybdenum-bearing veins are providing information and vectors for planned future holes. We will continue to keep the market informed of our ongoing drilling," says CEO David Price.
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Helium One Global Ltd - London-based exploration & development company - Starts 2D seismic campaign as part of its phase 2 exploration programme with mobilisation of survey and line clearing crews to its Rukwa project in Tanzania. The campaign is targeting northern extensions of known structural highs that act as a focus for helium charge. "We are excited about our phase 2 programme as we look to build our geological knowledge within the de-risked Rukwa Basin and continue the process of advancing the Rukwa project towards discovery," says CEO David Minchin.
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Vaalco Energy Inc - Texas-based hydrocarbon exploration company - Completes two workovers at the Etame field offshore Gabon which adds a total of 1,050 gross barrels of crude oil per day. "We will continue to efficiently operate at Etame which generates strong cash flow to fund our accretive strategic initiatives," says CEO George Maxwell.
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Active Energy Group PLC - London-based biomass products producer - Awarded Canadian Patent in respect of the process for beneficiating and cleaning biomass. The Canadian Patent ensures that Active Energy holds the proprietary rights for the CoalSwitch manufacturing process throughout Canada for 20 years from the date of filing, being March 2018.
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Downing Strategic Micro-Cap Investment Trust PLC - investment company - Reports net asset value as at August 31 of 93.74 pence, up from 81.16p posted on February 28. Reports share price of 76.00p as at the end of the first half of its current financial year, representing a 19% discount to NAV. "As we look ahead we note that we have some Covid laggards, where share prices have not yet caught up with the improved earnings and operational efficiencies of the underlying businesses. We expect this will ultimately be reflected in valuations – perhaps as we go through the next set of earnings results," says Lead Manager Judith MacKenzie.
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Brandshield Systems PLC - Israel-based digital brand protection and online threat hunting services provider - Secures a new business mandate to support an undisclosed international e-commerce platform. The new contract will see the company provide its anti-phishing and impersonation prevention solutions to detect, prevent and shut down fraudulent websites duplicating the client's site.
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LoopUp Group PLC - London-based audio & web conferencing product provider - Signs strategic sales & distribution alliance for its Cloud Telephony solution with an undisclosed international telecommunications provider. Under the terms of the deal, the strategic alliance partner will resell LoopUp's Cloud Telephony solution on a white-labelled basis to its business customer base, which spans over 20 country markets. "Both we and the partner see clear customer demand for Microsoft Teams telephony in their markets, and we look forward to working alongside their team to help fulfil that demand," says co-Chief Executive Steve Flavell.
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Omega Diagnostics Group PLC - Alva, Scotland-based diagnostic tests company - Agrees with DAM Health Ltd, an in-clinic and mobile test provider, to exclusively supply its Visitech professional use Covid-19 antigen tests to DAM Health's clinics throughout the UK and Europe. Omega has already received an initial purchase order in excess of GBP750,000, it says.
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Arecor Therapeutics PLC - Cambridge-based biotechnology company - Signs an exclusive formulation study collaboration with an undisclosed global medical products company. Under the terms of the agreement, Arecor will use its proprietary formulation technology platform, Arestat, to develop a differentiated, stable, liquid drug product, for intravenous administration in two concentrations, that is ready-to-administer. The new liquid formulation of the product supports safe medication practices and operational efficiency by eliminating the need for reconstitution. The partner will fund the development work, the company notes.
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Verici Dx PLC - Cardiff, Wales-based clinical diagnostics company - Signs an agreement with the American Society of Transplantation to establish a career development research grant. The grant will be awarded annually to a talented researcher in the fields of transplant science and immunology, enabling them to expand on preliminary research findings that have the potential to further the knowledge base in these areas.
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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