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UK TRADING UPDATE SUMMARY: Record In Talks For Bumper Hedging Deal

Mon, 21st Sep 2020 19:29

(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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Record PLC - Berkshire, England-based specialist currency manager - Selected for "dynamic hedging mandate" worth USD8 billion. "Assuming contract negotiations conclude successfully, this mandate will build up over time and will be revenue-generating by the end of this calendar year," Record adds.

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Supply@ME Capital PLC - fintech platform which provides inventory monetisation - Enters into strategic pact with "leading European alternative investment firm" and shareholders 1AF2 Srl and The AvantGarde Group SpA to acquire a bank in Europe. Supply@ME to give bank rights to invest in securitisation note issue and in exchange, provide EUR8 billion of funding over five years. Supply@ME will not be shareholder in bank and will bear no costs related to transaction.

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STM Group PLC - London-based cross-border financial services provider - Updates on Adams versus Carey judgement. Says UK Court of Appeal has, as expected, granted Adams right to appeal in legal dispute against STM's Options UK Personal Pensions. Court is expected to consider the case in early 2021.

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Nakama Group PLC - recruitment consultancy firm in UK and Asia - Revenue for year ended March 31 expected at GBP9.7 million, down 28% from GBP13.4 million. Nakama says business was hurt by Covid-19.

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Kin & Carta PLC - business consultancy firm - Says revenue and profit for year ended July 31, ahead of internal expectations. Says partnerships with Alphabet Inc's Google and Microsoft Corp continuing to expand.

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Knights Group Holdings PLC - legal and professional services firm - Reports "encouraging recovery" from Covid-19 pain. New business currently operating at 10% of pre-virus crisis levels.

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Driver Group PLC - Lancashire-based professional services consultancy - Reports partnership with Johannesburg-based dispute resolution consultancy EVRA Consulting Ltd.

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Picton Property Income Ltd- property investor - Leases whole Swiftbox, Rugby distribution unit to UPS, generating GBP600,000 in annual income. Agrees to sell Bridge Street, Peterborough retail asset for GBP4.0 million. Stanford Building, Long Acre refurbishment "nearing completion".

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Town Centre Securities PLC - property investor and car park operator - Sells four retail properties in Scotland and London for GBP35.2 million in total. "The units sold comprise of two Waitrose stores in Milngavie and Glasgow; an Aldi/Home Bargains store in Milngavie; and a high street retail store in Chiswick, London," Town Centre said. Proceeds to be initially used to reduce debt.

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Urban Logistics REIT PLC - logistics-focused real estate investment trust - Plans GBP100 million placing and GBP30 million retail open offer and institutional offer. "The company intends to use the net proceeds of the Issue to acquire an identified pipeline of high-quality logistics properties," Urban said.

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CATCo Reinsurance Opportunities Fund Ltd - Investor focused on offering returns from investments linked to catastrophe reinsurance risks - Advised of release of side pocket investment worth USD68.9 million which company is due to receive during September. Will go towards USD94.6 million compulsory redemption.

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Tekcapital PLC - UK intellectual property investment company - Portfolio firm Guident files additional US patent for remote monitoring and control of autonomous vehicles and delivery drones and robots. "Guident has developed and acquired a portfolio of seven patents and applications, together which enables advanced teleoperation for AV's and drones to enhance customer safety and security whilst providing a reliable, low latency connection to any advanced mobile network solution," Tekcapital said.

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RTW Venture Fund Ltd - life sciences-focused investment firm - Portfolio company Athira Pharma Inc prices USD204 million initial public offering. "Athira's IPO was significantly upsized and oversubscribed, raising USD204.0 million, offering 12 million shares at USD17.00 per share," RTW said.

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Cambria Africa PLC - Zimbabwe-focused investment company - Says subsidiaries operating near or ahead of break-even levels.

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Trident Royalties PLC - London-based mining royalty firm - Lands agreement with Fe Ltd for early payment second tranche of Koolyanobbing royalty acquisition, in exchange for a AUD350,000 discount. Trident will pay just under AUD2.7 million instead of AUD3.0 million.

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Nostra Terra Oil & Gas Co PLC - oil & gas firm with assets in US and Egypt - Reports farm-in deal at Permian Basin, Texas. Nostra to pay USD25,000 fee at closing of deal and USD100,000 towards initial re-entry of first well. Nostra to earn 50% of net cashflow in whole life of well.

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UK Oil & Gas PLC - London-based oil & gas firm - Says study finds "significant gas resource" at Loxley Portland gas discovery.

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Arc Minerals Ltd - exploring for copper and cobalt in Africa - Says maiden diamond drilling programme at Fwiji target in north western Zambia has found oxide and sulphide mineralisation. "I am very encouraged by the developments at Fwiji," Executive Chair Nick von Schirnding said.

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Upland Resources Ltd - South-East Asia and North African-focused oil and gas firm - Says work programme at Saouaf, Tunisia, completed. Analysis of seismic data finds "a promising new sub-salt play".

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Pensana Rare Earths PLC - operator of rare earths project in Angola - Says responsibilities at Miyabi gold project in Tanzania to be assumed by Drillcraft Ltd. "The transaction will comprise the receipt of net cash proceeds by Pensana of approximately USD400,000 payable alongside a five-year, 2% royalty participation agreement over the existing mineral resource estimate of approximately 500,000 ounces of gold, with operations forecast to commence in mid-2021," Pensana said.

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Petroneft Resources PLC - Russia-focused oil and gas explorer - Secures USD1 million financing deal with Alexandrovskoye Oil Refinery to fund development of Licence 67, Russia.

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Blencowe Resources PLC - developing Orom-Cross jumbo flake graphite project in Uganda - Says core samples from diamond drilling programme at Orom-Cross graphite project sent for analysis at laboratory in Tanzania as Blencowe eyes maiden JORC resource estimate in fourth quarter.

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Kavango Resources PLC - London-headquartered metals exploration firm - Forms joint venture with Power Metal Resources PLC focused on mineral exploration projects in Botswana. Power Metal to pay Kavango GBP75,000 in cash and issue 6.0 million shares, as well as 5.0 million warrants.

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IXICO PLC - neuroscience data analytics firm - Selected by Global Alzheimer's Platform Foundation to support Bio-Hermes trial. "Bio-Hermes' core purpose is development of a bio-sample database to investigate biomarkers on a head-to-head basis in conjunction with medical history elements," IXICO said. "This contract does not have significant impact on management's expectations of performance for the year, but will contribute to the company's already strong year end order book."

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Yourgene Health PLC - molecular diagnostics firm - Appoints Immuno-Biological Laboratories Inc as distributor of polymerase chain reaction in US. "The appointment of IBL-America is an important pillar within our plans to penetrate the largest diagnostics market in the world with our full portfolio across the whole genomic testing lifecycle," Chief Executive Officer Lyn Rees said.

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Beximco Pharmaceuticals Ltd - Bangladesh-based medicine manufacturer - Secures US Food & Drug Administration approval for Flecainide Acetate medication used to treat irregular heartbeat disorders. Beximco says this is the eighth US FDA approval.

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Billington Holdings PLC - steel and engineering firm - Structural steel division awarded GBP21 million worth of contracts. Pacts scheduled for delivery in fourth quarter and throughout 2021.

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John Lewis Of Hungerford PLC - manufacturer and retailer of furniture - Expects pretax loss n year ended June 30 to widen to range of GBP850,000 to GBP900,000 from GBP229,000. Sales down 33% to GBP5.6 million from GBP8.3 million.

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Escape Hunt PLC - escape rooms operator - Says 10th site operating under Escape Hunt brand to open in Norwich this week. Adds 11th site, in Basingstoke, penned for October opening. "Escape Hunt is also pleased to announce that it has completed contracts for a twelfth site at the Brewery Quarter in Cheltenham," firm adds.

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Spinnaker Opportunities PLC - London-based cash shell - Restarted all project work streams in view of completing Kanabo Research Ltd acquisition.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
17 May 2022 06:36

IN BRIEF: Picton Property acquires London property for GBP14 million

Picton Property Income Ltd - London-based real estate investment trust - Completes the freehold acquisition of mixed-use property in London for GBP13.7 million. This reflects a net initial yield of 3.3%. Acquisition funded from existing cash resources.

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5 May 2022 16:06

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Copyright 2022 Alliance News Limited. All Rights Reserved.

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30 Mar 2022 05:57

IN BRIEF: Picton Property Income refinances and extends debt facility

Picton Property Income Ltd - London-based real estate investment trust - Increases and extends one of its long-term debt facilities. The company secures an extra GBP49 million of new borrowings, increasing the facility to GBP129 million. The new borrowings are fixed at a rate of 3.25% and the existing GBP80 million tranche has had the interest rate reduced to the same level. The maturity date of the existing loan has been extended from July 2027 to July 2031. Picton says the proceeds will be used to repay its revolving credit facility, which was recently drawn to fund property acquisitions. The remaining proceeds will be used to fund identified acquisitions and capital projects within its portfolio, it adds.

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24 Mar 2022 21:01

TRADING UPDATES: Getech wins mining contracts; Bluejay starts drilling

(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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21 Feb 2022 15:55

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Tuesday 22 February 
Schroder Oriental Income Fund Ltddividend payment date
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Copyright 2022 Alliance News Limited. All Rights Reserved.

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4 Feb 2022 09:39

Picton Property acquires GBP10.4 million trading estate in Gloucester

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