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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Cambria Africa PLC - Zimbabwe-focused investment company - Announces it will sell its 78% shareholding in AF Philips Pvt Ltd for USD1.7 million. Notes Ministry of Finance of Zimbabwe releases USD75,642 in part settlement of USD957,642 legacy debt/blocked funds. The firm expects at least USD100,000 with respect to USD416,396 of legacy debt registered by Harare-based Gardoserve. Further, notes that the dollar value of the firm's 204,047 shares in Old Mutual Ltd has fallen 31% to a closing value of USD113,000 on October 21 from USD163,342 on the Johannesburg Stock Exchange on May 27, when Cambria Africa released its half-year results. Back then, Cambria Africa reported its interim net asset value for the half-year ended February 28 had fallen 2.5% to 1.16 US cents per share from 1.19 US cents a year ago. Cambria notes that it can not transfer its Zimbabwe Stock Exchange-held Old Mutual shares to JSE as Old Mutual shares on ZSE remain suspended.
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De La Rue PLC - Basingstoke, England-based designer and manufacturer of security and authentication features on physical currencies - Receives a request from activist fund manager Crystal Amber Fund Ltd, which owns a 10% stake, asking for De La Rue Chair Kevin Loosemore to resign immediately. The company notes that Loosemore was re-elected with 98% in July. Announces general meeting for December 2, asking shareholders whether Loosemore should stay as chair. In late September, Sky News reported that Crystal Amber demanded boardroom representation at De La Rue.
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Frontier IP Group PLC - London-based intellectual property commercialisation company - Net asset value per share at June 30 grows 27% to 88.5 pence from 69.8p a year prior. Pretax profit in the year to June 30 grows slightly to GBP10.9 million from GBP10.2 million. Does not mention dividends. Says that outlook is difficult to predict, citing looming domestic and global issues. Touts confidence in coming year and beyond, saying that it is well-capitalised, with a portfolio that addresses "fundamental" global challenges.
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Henderson International Income Trust PLC - seeks income from non-UK investments - Declares 7.25p per share dividend for the year ended August 31, an increase of 15% from 6.30p a year prior. NAV at August 31 per share at fair value grows 2.2% to 183.4p from 179.4p a year ago. NAV total return at fair value falls to 6.3% from 24% a year ago. Underperforms against benchmark MSCI ACWI ex UK High Dividend Yield Index sterling adjusted, which returned 6.6%, but outperforms against MSCI World ex UK Index sterling adjusted, which returned 0.6% and against AIC Global Equity Income sector NAV, which returned 3.6%.
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Riverstone Energy Ltd - Guernsey-based energy and power-focused private investment firm - Appoints Richard Horlick as chair elect & non-executive independent director on Wednesday. Horlick will replace Chair Richard Hayden in February 2023. Meanwhile, net asset value per share at September 30 grows 6.9% to USD14.58 from USD13.64 at June 30. "Geopolitical tensions in western Europe continue to strain the continent's energy supply chain, keeping the cost of electricity at historically high levels as the UK and the EU brace themselves for winter. Fluid government regulations relating to the closure of coal-fired power generation and, proposals for windfall profit taxes for energy producers and price caps on electricity are exacerbating precarious power markets," says outgoing Chair Hayden. He adds: "Adding to this current predicament, the recently announced supply cuts from Organisation of Petroleum Exporting Countries will ensure that volatility and uncertainty remain elevated for months to come." Further, he expects Riverstone Energy to profit from multi-year tailwinds for its decarbonisation portfolio investments from policies related to energy security and climate change.
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By Tom Budszus; tombudszus@alliancenews.com
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