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TRADING UPDATES: Yellow Cake And Asiamet Resources Plan Fundraises

Thu, 25th Feb 2021 17:58

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



Yellow Cake PLC - Jersey-based uranium investor - Plans to raise at least USD110 million through the placing of shares at GBP2.23 each by way of an accelerated bookbuild. Adds there is also an offer on the PrimaryBid platform for retail investors. Says it will use new cash to fund the purchase of at least 3.5 mmlb of physical uranium under the company's agreement with JSC National Atomic Company Kazatomprom at a price of USD28.95 per pound.



Asiamet Resources - Indonesia-focused copper and gold miner - Plans to raise GBP10 million through the placing of up to 440.9 million shares at 2.2 pence each and the subscription of 16.5 million shares at the same price. Will use the new cash to progress its proposed copper project in Central Kalimantan and support drilling to test the potential for a high grade extension of the Beutong deposit. Optiva Securities is acting as sole bookrunner in connection with the accelerated bookbuild.



Yew Grove REIT PLC - Irish real estate investment trust - Agrees new lease for the 43,220 square feet Gateway Three building, East Wall Road in Dublin to Electricity Supply Board group, which is majority-owned by the Irish government. Notes the ESB has signed a lease extension from January 1 for a further term of five years, with an option of an additional one year extension at an initial headline rate of EUR29 per square feet. Says since the start of 2021, it has agreed three rent reviews which add EUR80,000 to its annual rent roll and adds the the new Gateway Three lease will add a further EUR390,000 to the existing rent roll



PureTech Health PLC- Boston, Massachusetts-based biotherapeutics company - Notes a research paper published in the Journal of Controlled Release shows its Glyph platform technology has "tremendous potential" for orally administered medicines because it may allow for the bypass of first-pass metabolism in the liver and the direct targeting of the lymphatic system. Says results from the publication demonstrate the ability of a therapeutic modality built from the Glyph platform to target administration of mycophenolic acid - an immunosuppressant - into lymph and directly into gut-draining mesenteric lymph nodes. Separately, also says results from the EMERGENT-1 Phase 2 clinical trial evaluating KarXT for the treatment of schizophrenia demonstrated "statistically significant and clinically meaningful" improvements in primary and key secondary efficacy measures compared with the placebo



Agronomics Ltd - Isle of Man-based investor in cellular agriculture with a focus on non-animal cultivated meat and alternative proteins - Invests further USD500,000 in cellular agriculture company VitroLabs Inc in the form of a convertible loan note which will convert at VitroLabs' next funding round. Following conversion, Agronomics will have a 5.3% stake in VitroLabs.



AFC Energy PLC - provider of hydrogen power generation technologies - Launches Anion Exchange Membrane fuel cell test facility at its headquarters in Surrey. Notes its "S" Series AEM hydrogen fuel cell once complete, will create the option for heavy motive applications to deploy alkaline chemistry fuel cells in marine, rail and other heavy motive applications. Adds the facility will enhance the feedback in performance of the AlkaMem anion exchange membrane in fuel cell applications, enhancing its development of the membrane for use in other markets.



7digital Group PLC - London-headquartered digital music and radio services platform - Signs two-year contract with connected fitness company FORME Life for the client's trainers to use 7digital's music platform to access a catalogue to cache or stream music content that can then be synchronised with a training video and played on-demand and live. Did noyt diclose financial details of deal but says it expects contract to be a major part of the revenue contribution to overall revenues in 2021.



Target Healthcare REIT PLC - UK purpose-built care home investor - As a result of investor demand as well as an "attractive" investment pipeline, decides to increase the size of the initial issue in its fundraise to a maximum of GBP60 million, up from GBP50 million when it was first announced earlier this month.



Zytronic PLC- manufacturer and developer of touch technology products - Says 4.6 million shares were validly tendered under its tender offer. Says it will purchase the shares - which represent 29% of its share capital - at 145 pence each for a total of GBP6.7 million



Remote Monitored Systems PLC - London-based survey and inspection services provider - Confirms it is in discussions with potential customers for its Pharm 2 Farm Ltd mask, but notes no bulk deliveries of the mask have been made and no contracts have yet been signed. Adds it is making preparations for a formal launch of the masks and its branding



Power Metal Resources PLC - metal exploration and development company - Exercises its option to acquire the Magical and Enable properties located on the Schreiber-Hemlo Greenstone Belt in north-western Ontario, Canada, adding these are the final two of four gold exploration properties upon which it signed an exclusive option to acquire. Notes Magical is located 9 kilometres northwest of Barrick Gold Corp's Hemlo mine and Enable is located on the western part of the Schreiber-Hemlo Greenstone Belt, at the contact of metavolcanic and volcano-sedimentary rock packages with the Terrace Bay Batholith which is associated with at least 28 documented gold showings.



Anglo Asian Mining PLC - gold, copper and silver producer in Azerbaijan - Terminates discussions with Conroy Gold & Natural Resources PLC in relation to the joint venture agreement proposed in July. In July, the company said it entered into a proposed joint-venture with Conroy Gold & Natural Resources which could see it take a 55% stake in the Longford Down Massif gold project in Ireland. Under the deal which has now been terminated, Anglo Asian Mining would initially take just shy of an 18% working interest in exchange for committing to spending EUR2 million in a primary expenditure programme.



Energean PLC- oil & gas firm - Completes acquisition of 30% interest in Energean Israel Ltd from Kerogen Investments No.38 Ltd, an affiliate of Kerogen Capital. Notes the acquisition - for between USD380 million to USD405 million - means it now completely own Energean Israel. The acquisition adds 2P reserves of 29.5 billion cubic metres of gas and 30 million barrels of liquids, representing around 219 million barrels of oil equivalent in total to the company. Notes USD175 million of up-front consideration was funded through a drawdown from its USD700 million term loan, USD50 million through the issuance of a convertible note to Kerogen - which matures December 29, 2023 with a strike price of GBP 9.50 and a zero-coupon rate - and the remaining amount will be satisfied through deferred cash amounts of between USD155 million and USD180 million



Vela Technologies PLC - Bingley, England-based company with investments in early-stage disruptive technology businesses - Invests GBP350,000 into Aeristech Ltd, a producer of efficient, power-dense compressors for hydrogen fuel cells, as part of the investee's GBP5.1 million pre-IPO funding round. The subscription for 145,833 shares at GBP2.40 each takes Vela's stake in Aeristech to 0.9%.



Victoria PLC - Worcestershire-headquartered flooring firm - Prices offering of EUR500 million in aggregate principal amount of 3.625% fixed rate senior secured notes due 2026. It will use proceeds for general corporate purposes - in particular acquisitions - and the refinancing of EUR250 million of principal amount of existing 2024 senior secured notes to further improve the maturity profile and cost of the group's debt. Says offering of notes will close March 5. Separately, increases the target acceptance amount of the tender offer of senior secured notes due 2024 announced on Wednesday to EUR200 million from EUR50 million.



Miton UK MicroCap Trust PLC - investment firm focused on companies with market cap of less than GBP150 million - Enters into new three-year term GBP5.0 million revolving credit facility with Royal Bank of Scotland International Ltd. Facility - which replaces the previous RBS facility - has margin of 1.35% above LIBOR and an uncommitted accordion of GBP7.5 million.



Kavango Resources PLC - exploration company targeting mineral deposits in Botswana - Banks GBP19,000 through warrants exercise over 1.9 million shares. Following admission, its total issued share capital will comprise 317.5 million shares.



Hemogenyx Pharmaceuticals PLC - pre-clinical stage biopharmaceutical firm based in London - Receives conversion notice from Mint Capital Advisors Ltd in respect of GBP650,000 of convertible loan notes. Hemogenyx will issue 13.1 million shares at GBP0.0495 each.



By Ife Taiwo; ifetaiwo@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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