George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.

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UK TRADING UPDATE SUMMARY: Creo Makes Up To EUR5 Million Acquisition

Tue, 03rd Nov 2020 15:57

(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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Creo Medical Group PLC - medical device company headquartered in Chepstow, Wales - Acquires Boucart Medical SRL, the biggest independent supplier of gastrointestinal consumables in Luxembourg and Belgium, for an initial EUR4.5 million cash plus up to EUR500,000 of performance-related payments over the next two years also in cash. Creo notes Boucart's 2019 pretax profit of EUR600,000 and its earnings before interest, tax, depreciation, and amortisation figure of EUR700,000. Boucart 2019 end gross assets EUR2 million. Creo notes: "Following the acquisition of Boucart Medical, the company now has a direct sales presence in the key markets of Spain, France, Germany, the UK, the USA, Belgium and Luxembourg."

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Pantheon Resources PLC - oil and gas exploration company focused on the Alaska North Slope - Application to form Alkaid Unit, encompassing 22,804 acres, approved by Alaska's Department of Natural Resources. Company notes it has submitted a first plan of exploration outlining proposed activities relating to the unit, including a commitment to reprocess around 50 square miles of 3D seismic as well as to engage third party specialists to produce an engineering study on a conceptual 'hot-tap- into the trans Alaska pipeline system. No firm drilling commitment but plan does propose drilling two wells from gravel pads near the Dalton highway. "Under the POE, drilling and long-term production testing on the first of these wells, the Alkaid number 2 well, is targeted for Spring/Summer 2021. Dependent upon the results of Alkaid 2, the POE anticipates the drilling and testing of the Alkaid 3 well to commence in 2022."

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Alba Mineral Resources PLC - mineral exploration and development - Completes underground drilling programme at Clogau-St David's gold mine, Wales in which it has 90% ownership. Seven holes drilled under campaign, for 559.5 metres. Underground bulk sampling programme also completes successfully, collecting seven bulk samples for a total of 36 tonnes of material. Executive Chair George Frangeskides says: "We now move straight into our surface drilling campaign. The surface drill rig is on site and our team has started collaring the first hole."

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Dekel Agri-Vision PLC - West Africa-focused agriculture company - Acquires further 14% interest in large scale raw cashew nut processing project at Tiebissou, Ivory coast. Consideration 28.6 million Dekel shares or 6.3% stake. Dekel now has controlling 52% interest in the project. Says buy "represents excellent value for Dekel shareholders" with completion of plant approaching in the second quarter of 2021. Retains option for further 17% interest in Pearlside Holdings Ltd, parent of Capro CI SA, which is developing the plant. The Ivory coast has been the centre of violence and tensions after elections on Saturday, which ushered President Alassane Ouattara into a contested third term. Several thousand people have fled into neighbouring west African countries from the Ivory Coast, fearing more violence following a presidential election there marred by deadly unrest, according to the United Nations.

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Yourgene Health PLC - molecular diagnostics group - Subsidiary Yourgene Health Taipei inks regional marketing and services agreement with Take2 Health Ltd, a company based on Hong Kong. Agreement will see the subsidiary promote Take2's genomic test for nasopharyngeal carcinoma, a major type of head and neck cancer, in Taiwan and establish a clinical network for collecting patient blood samples. This test is known as the Take2 Prophecy Test for NPC. Memorandum of understanding also signed to consider granting Yourgene sole rights to deliver Take2 Prophecy testing services in Taiwan from the Yourgene's Taipei laboratory. Yourgene is, under the agreement, "responsible for driving the clinical demand of the test in the region, working with clinicians and healthcare professionals on the benefits of using Take2 Prophecy, and widely distributing the test to facilitate early cancer screening in Taiwan."

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Plaza Centers NV - Netherlands-based property firm - Enters into addendum to pre-sale agreement with AFI Europe NV. This is in connection with the sale of the Plaza subsidiary which holes a 75% stake in the Casa Radio project, Romania. Long stop date is extended to 2021 end. Parties further agree that if any litigation or arbitration process results in any loss of rights under the agreement with the government of Romania to develop the Casa Radio site, then AFI is no longer bound by its obligations under the agreement and Plaza will reimburse the entire EUR200,000 advance payment made by AFI. Bondholder approval for addendum is required.

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IXICO PLC - London-based data analytics company - Secures new contracts in Alzheimer's disease clinical trials, including phase 1 study with "new biotechnology customer". Other contracts include for a phase 2 trial with an existing biotechnology company plus initiation of an open-label extension phase 3 trial with "existing large pharmaceutical company". IXICO notes: "These contracts were included in management's expectations of performance for the coming year and contribute to the company's strong order book. These contracts relate to trials at different stages of drug development and are with several different customers, strengthening diversification in the company's order book."

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Rurelec PLC- power generator and power plants developer based in London - Notes that Argentine resolution 220 PPA has now expired. The resolution governs capacity and offtake revenue generated by the steam turbine at Energia del Sur SA, a power plant owned by Patagonia Energy Ltd. Rurelec holds a 50% interest in the plant. Energia del Sur management, with support of Rurelex board, in talks to establish new tariff. Negotiations are in final stages but it is not possible to say when they will conclude, having already been extended beyond Energia del Sur's expectations due to political change and Covid-19. Contingency plans in place to cut costs, possibly by shutting down parts of operation, as capacity and offtake revenue generated from the steam turbine is being remunerated at spot prices, which could have "significant adverse implications" in terms of revenue and cash generation. In Chile, Rurelec obtains extension to the Central Illapa project construction period to November 2021.

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Mkango Resources Ltd - mineral exploration and development focused on rare earth elements - Begins extensive hand-auger drilling and soil sampling programme to identify rutile prospects at Mchinji licence, Malawi. Liecne held by wholly owned subsidiary MKA Exploration Ltd. This follows reconnaissance work which resulted in discovery of rutile during September's shallow soil sampling and auger programme. Initial work limited by equipment availability during pandemic but results encouraging. Chief Geologist Paul Armitage: ""This drilling programme and soil sampling will help us to target saprolite-hosted mineralisation. It will test the extent of the rutile and ilmenite mineralisation over a large part of our licence area and aims to confirm the potential for discovering high-grade rutile deposits in the licence. Given that rutile is in high demand and that there is a shortage of supply, confirmation of rutile prospects on the Mchinji licence could prove to be highly significant for the company."

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By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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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:

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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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31 Aug 2022 16:07

TRADING UPDATES: Strong trading from Shoe Zone, Fulham Shore

(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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