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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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CyanConnode Holdings PLC - Cambridge, England-based developer of narrowband radio frequency mesh networks - enters into a USD7.5 million unsecured convertible loan note agreement with a Middle Eastern climate company, Smart Sustainability Solutions Ltd, a wholly-owned subsidiary of a publicly owned, Abu Dhabi based global investment company. The funds will be used to fund working capital and capital expenditure requirements and to repay the short-term loan announced on in March. The loan note's coupon is 7% per annum, payable on redemption or at the time of conversion, and the term 60 months from the date of issuance.
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Cizzle Biotechnology Holdings PLC - London-based life sciences company engaged in developing a blood test for the early detection of the different forms of lung cancer - raises GBP150,000 through the issue of a convertible loan note to provide additional funding to support the company's growth strategy, in particular to roll out its CIZ1B early cancer test in the UK and elsewhere in Europe following the successful licensing agreement with Cizzle Bio Inc in North America. The note, which has been subscribed for by Frazer Lang, an existing investor, is convertible at any time, at the election of the note holder, during its 24 month term into new shares at a price of 1.4 pence per share. No interest is payable on the note.
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OptiBiotix Health PLC - York, England-based life sciences firm - launches products containing SlimBiome with the Nasdaq-listed Natural Health Trends Corp. NHT is an international direct selling and ecommerce company operating through its subsidiaries throughout Asia, the Americas, and Europe. The product, which was produced and shipped in final product format by OptiBiotix is a tomato soup formulation, TwinSlim Tomato Soup, developed specifically for NHT and its global markets. The product has been launched in Hong Kong for the Chinese market with the product shipped for launch in the US in the upcoming weeks. This is the second US partner launching SlimBiome products in the last few months, with a third, one of the US's leading weight management brands, expected to launch in the near future. This is part of the company's strategy to develop and market clinically proven and patented products and grow its business in the high growth markets of Asia, particularly India, and the US.
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Atome PLC - Leeds, England-based developer of international green fertiliser projects - establishes Atome Power, a new renewable power generation and infrastructure division which is intended to be developed as a separate but complementary business within the group, and also provides a business update on its Villeta project in Paraguay. Atome Power's initial focus will be to deliver power as a service in Latin America. The first project under consideration is an up to 400 megawatt capacity, utility scale solar plant with battery storage infrastructure located near Atome's green fertiliser facility in Villeta. This is expected to be funded separately from internal resources and/or at project level. Also reports progress at Villeta with the signing of a definitive offtake agreement and formation of equity club expected at or around end June.
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GetBusy PLC - Cambridge, England-based document management and productivity software provider - issues trading update ahead of Tuesday's annual general meeting. Reports that annualised recurring revenue is GBP21.3 million at April 30, up 6% year-on-year at constant currency and reflecting a GBP0.6 million currency headwind since the beginning of the year. Remains very encouraged about the long-term value creation and realisation prospects for the group and confirms revenue expectations for 2025, noting the marked uncertainty from currency volatility.
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Oracle Power PLC - Western Australia and Pakistan-focused minerals and power projects developer - announces further positive metallurgical results above 90% gold recovery, along with the final drilling results from recent drill programmes at the Northern Zone Intrusive Hosted gold project, in Kalgoorlie, Western Australia. This work is aimed at progressing the project towards a maiden mineral resource estimate. All assay results are now returned, providing a clear direction for future drilling to connect the west and east mineralised zones. Chief Executive Naheed Memon says: "Metallurgical testwork using cyanide bottle roll has closely replicated the original 2022 work previously reported, with all results between 90.6% and 94.7% for five samples, resulting in an average 92.6% gold recovery. This is an excellent result and bodes well for future plans to scope out potential starter pits for toll treatment."
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Zinc Media Group PLC - London-based television production group - announces the commission of a new multi-million-pound cultural documentary for a large multi-national client in Saudi Arabia. Production and associated revenue of the feature length film will span 2025 and 2026. Combined with other recent commissions, this takes total revenue booked and expected to be recognised in financial 2025 to GBP30 million, up GBP3 million since the company's last trading update on April 30. This is the earliest Zinc Media has achieved GBP30 million of revenue booked in any financial year and puts the group "materially ahead" of the same time in the prior year, it says.
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Lexington Gold Ltd - gold exploration and development in South Africa and US - receives its final section 11 ministerial consent from the South African Department of Mineral Resources and Energy in connection with its acquisition of its 74% owned subsidiary White Rivers Exploration Proprietary Ltd. This triggers the issue of 20.6 million shares to settle GBP1.3 million deferred consideration, calculated at an issue price of 6.20 pence per share.
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By Jeremy Cutler, Alliance News reporter
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