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Pin to quick picksPlaza Share News (PLAZ)

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TRADING UPDATES: Altona Rare Earths positive on Monte Maumbe project

Wed, 08th Jun 2022 21:23

(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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Cambridge Cognition Holdings PLC - Cambridge-based assessment software provider - At its annual general meeting, 51% of voters voted against resolution seven, the disapplication of pre-emption rights. 9.8% of voters also vote against resolutions one and six, approving the 2021 reports and accounts and the authority to allot shares.

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Plaza Centers NV - Amsterdam-based property investor in India - Says that negotiations between the parties for a sale of Elbit Imaging Ltd's rights in the Bangalore property have not yet matured into a binding agreement. The dispute is between Elbit Plaza India Real Estate Holdings Ltd - a subsidiary held equally by the company and Elbit Imaging Ltd - and an unnamed local investor. Company says Elbit Imaging is preparing to open an arbitration proceeding in Singapore against the investor.

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Red Rock Resources PLC - London-based natural resource development company with interests in Africa and Australia - Issues 28.3 million shares at a price of 0.38 pence per share, raising gross proceeds of GBP108,280, on Tuesday.

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Gem Diamonds Ltd - London-based diamond miner - At its annual general meeting, 41% of voters voted against resolution 14, the renewal of directors' authority to allot securities. 13% of voters also voted against resolution two to approve the directors' remuneration report. 9% of voters voted against resolution six, seven, and eleven which regarded the reelection of Harry Kenyon-Slaney, Michael Lynch-Bell, and Clifford Elphick.

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MetalNRG PLC - London-based investor in natural resources and energy - Provides an update on the legal proceeding taken against the company by former director Pierpaolo Rocco regarding his now-terminated employment with MetalNRG. Sheriff Philip Mann denied all applications made by Rocco in the Scottish Courts. Company says this ruling "effectively disposes" of Rocco's claims. Rocco has now brought a separate claim in the Scottish Employment Tribunal for wrongful and unfair dismissal. Company says it will vigorously defend this action when it is heard.

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Geiger Counter Ltd - Jersey-based investor in uranium exploration and production stocks - Issues 1.4 million shares for cash at a price of 55 pence per share. Company says the issue was in response to market demand.

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DP Eurasia NV - Amsterdam-based master franchisee of Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia - At its annual general meeting, 34% of voters voted against resolution 14b, "reappointment of Mr P. Williams by the general meeting excluding the controlling shareholder". 9.1% of voters also voted against resolution 14a, the reappointment of Williams by the general meeting.

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Challenger Energy Group PLC - Isle of Man-based oil and gas company focused on the Caribbean and the Atlantic-margin - Notes the intention of Predator Oil & Gas Holdings PLC to initiate a litigation process regarding the Inniss-Trinity Well participation agreement between Predator and FRAM Exploration Trinidad Ltd. FRAM is a wholly-owned subsidiary of Challenger. FRAM denies owing any amount to Predator regarding the agreement. Company says FRAM will defend any legal proceedings.

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Phoenix Copper Ltd - London-based base and precious metals explorer focused on the US state of Idaho - Engages a syndicate of brokers to execute the placement of floating rate corporate bonds. The bonds are to finance the construction and development of the Empire Open Pit Copper Mine in Idaho, US. Company expects minimum gross raise of USD60 million. Chief Financial Officer Richard Wilkins says: "We have previously indicated that we intended to finance construction of the Empire Open Pit Mine with minimal or no dilution to existing shareholders, and we expect the bond placement to achieve this, as the bonds will be non-convertible. Furthermore, with repayment scheduled after 10 years, the bond placement should free up significant additional cash during the initial few years of the mine life, which would otherwise have been used to repay more traditional forms of mine finance."

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EP Global Opportunities Trust PLC - Edinburgh-based investment company investing predominantly in quoted equities - Transitions to a self-managed investment trust following approval from the UK financial conduct authority. Intends to change its name to Global Opportunities Trust PLC. Company also appoints Juniper Partners Ltd as company secretary and administrator. Company terminates a management agreement with AIFM Franklin Templeton Investment Trust Management Ltd and a depositary agreement with Northern Trust Global Services Ltd.

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Altona Rare Earths PLC - London-based mining exploration company focused on projects in Africa - Announces preliminary results from its phase two drilling programme at its Monte Muambe project in Mozambique. Says the programme is progressing with schedule, with a maiden resource statement by the first quarter of 2023 and a preliminary economic assessment by the second quarter of 2023. Results from the phase two exploration shows continuing improvement in grades and orebody dimensions. Company says Monte Muambe has the potential to become one of the highest-grade carbonatite rare earth elements projects in Africa.

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By Heather Rydings; heatherrydings@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
2 Apr 2024 17:39

Plaza Centers focused on Casa Radio as attributable loss widens

(Alliance News) - Plaza Centers NV on Tuesday sad it remained focused on unblocking the current status of the Casa Radio project in Romania.

Read more
25 Mar 2024 13:28

IN BRIEF: Plaza Centers notes positive outcome on India probe in EPIM

Plaza Centers NV - Amsterdam-headquartered property investor with interests in Europe and India - Following announcement in March last year on the Indian tax authorities conducting search and seizure operation at the offices of Elbit Plaza India Management Services Private Ltd, says EPIM receives a "favourable order". Says the probe for one of the three years under investigation is completed without imposing any liability on EPIM. "Inquiry into the remaining periods of the investigation is continuing and the company will update on any development," Plaza Centers says. EPIM is a private company wholly owned by Elbit Plaza India Real Estate Holdings Ltd.

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4 Dec 2023 19:51

IN BRIEF: Plaza Centers extends long-stop date for proposed disposal

Plaza Centers NV - Amsterdam-headquartered property investor with interests in Europe and India - Further to previous announcements regarding the pre-sale agreement with AFI Europe NV for the sale of its subsidiary which holds 75% in the Casa Radio Project both parties have agreed to extend to the long stop date to December 31, 2024.

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30 Oct 2023 15:45

UK shareholder meetings calendar - next 7 days

Tuesday 31 October 
Bowen Fintech PLCAGM
City of London Investment Trust PLCAGM
Crimson Tide PLCGM re share consolidation
Indus Gas LtdAGM
New Energy One Acquisition Corp PLCAGM
Newmark Security PLCAGM
Tlou Energy LtdAGM
Walls & Futures REIT PLCAGM
Wednesday 1 November 
BHP Group LtdAGM
Ferro-Alloy Resources LtdAGM
Frontier Developments PLCAGM
JP Morgan Mid Cap Investment Trust PLCAGM
Stranger Holdings PLCGM re reverse takeover of Mayflower Energy
Tavistock Investments PLCAGM
Thursday 2 November 
Instem PLCGM re takeover by Archimed
JPMorgan Global Growth & Income PLCAGM
Tintra PLCAGM
Tintra PLCGM to approve new auditors
Friday 3 November 
Cap-XX LtdAGM
Finsbury Food Group PLCGM re takeover by Frisbee Bidco
Jubilee Metals Group PLCAGM
Monday 6 November 
Plaza Centers NVAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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31 Aug 2023 20:29

IN BRIEF: Plaza Centers loss narrows strongly on finance income surge

Plaza Centers NV - Amsterdam-headquartered property investor with interests in Europe and India - Pretax loss in the six months to June 30 narrows significantly to EUR601,000 from EUR6.3 million a year prior. Revenue grows 23% to EUR180,000 from EUR146,000. Notably, finance income surges to EUR6.3 million from EUR884,000. Finance costs increase 2.9% to EUR6.0 million from EUR5.8 million. Looking ahead, company says: "The company's priorities are focused on efforts to sign definitive sale agreement of Casa Radio project. The company also intends to seek for bondholders' approval for postponement of the repayment of the bonds. In addition, the company intends to continue the cost-cutting of its operational cost."

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13 Jul 2023 17:16

IN BRIEF: Elbit Imaging reduces Plaza Centers holding to 20%

Plaza Centers NV - Amsterdam-headquartered property investor with interests in Europe and India - Says since announcement on March 31, Elbit Imaging Ltd has sold about 14,600 shares for an average price of ILS1.578 each for a total ILS23,000 (around GBP4,857). This reduces Elbit Imaging Holdings's interest to around 20%.

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12 Jul 2023 17:20

IN BRIEF: Plaza Centers receives default notice regarding Casa Radio

Plaza Centers NV - Amsterdam-headquartered property investor with interests in Europe and India - Receives a notice of default from the Ministry of Finance in Romania under the public-private partnership contract governing the Casa Radio Project. Denies all claims formulated by the Ministry of Finance, including any made in the ongoing International Centre for the Settlement of Investment Disputes arbitration with Romania.

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19 Jun 2023 16:00

IN BRIEF: Plaza Centers settles with two lawsuit respondents

Plaza Centers NV - Amsterdam-headquartered property investor with interests in Europe and India - Announces that Plaza and Elbit Imaging Ltd have reached settlement with two respondents in ongoing lawsuit in Israel. Lawsuit was filed with the District Court in Tel-Aviv by Plaza and Elbit in October 2020 against certain officers of both companies, certain heirs of former controlling shareholder Motti Zisser, who is now dead, and other parties involved in a 2011 sale of US shopping centres. Brokerage fees for this transaction were allegedly illegally transferred to private companies controlled by Zisser. District Court approves the settlement agreement and imposes a publication ban on its details. Provisions indicate that Plaza's portion, after deducting expenses, is "a few hundred thousand euros" and should be received over a period of several months. Plaza and Elbit will continue to handle legal proceeding in District Court; each party shall maintain all claims in main proceeding.

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12 Jun 2023 10:29

Plaza Centers further updates on EUR367.7 million claim over Romania

(Alliance News) - Plaza Centers NV on Monday said that Romania's application has been rejected in a litigation update regarding its Casa Radio project dating back to May 2022.

Read more
1 Jun 2023 14:33

IN BRIEF: Plaza Centers lawsuit appeal granted by Supreme Court

Plaza Centers NV - Amsterdam-headquartered property investor with interests in Europe and India - Says its appeal against dismissal of lawsuit against various entities was accepted yesterday by the Supreme Court of Israel. Lawsuit was filed with the District Court in Tel-Aviv by Plaza and Elbit Imaging Ltd in October 2020 against certain officers of both companies, certain heirs of their former controlling shareholder Motti Zisser, deceased, and other parties involved in a 2011 sale of US real estate properties. Brokerage fees for this transaction were allegedly illegally transferred to private companies controlled by Zisser. District Court approved defendant Philip Meyer's application for dismissal of the lawsuit against him. Plaza and Elbit appealed in November 2021. Both companies will continue handling legal proceedings in the District Court while each party maintains all claims in the main proceeding.

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11 Apr 2023 14:35

IN BRIEF: Plaza Centers updates on EUR367.7 million claim over Romania

Plaza Centers NV - Property investor in India - Provides update on claim against Romania regarding the Casa Radio project, filing its memorial and supporting evidence at the International Centre for the Settlement of Investment Disputes. Says it seeks full compensation for its losses with respect to the project, currently estimated to be up to EUR367.7 million as at March 31. Follows last announcement in May 2022, when it issued a request for arbitration against Romania.

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29 Mar 2023 17:35

TRADING UPDATES: Plaza Centers loss narrows; 450 eyes investments

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News.

Read more
27 Mar 2023 13:28

IN BRIEF: Plaza Centers notes India tax investigators conduct search

Plaza Centers NV - property investor in India - Notes investigators on behalf of the India state tax authority arrived at the offices of Elbit Plaza India Management Services Private Ltd on Monday, which is a private company wholly owned by Elbit Plaza India Real Estate Holdings Ltd.

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13 Dec 2022 20:38

TRADING UPDATES: Savannah Energy ends deal; Plaza signs addendum

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

Read more
2 Sep 2022 10:56

IN BRIEF: Plaza Centers completes sale of Bangalore site

Plaza Centers NV - property investor in India - Completes the sale of India Real Estate Holdings Ltd rights in a site in Bangalore, India. Sells for a total of EUR14.3 million. The company expects to receive EUR5.2 million from the disposal. The sale follows a lengthy dispute between Elbit and an unnamed local investor. India Real Estate is a subsidiary of the company which is held equally with Elbit Imaging Ltd.

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