(Alliance News) - The following is a round-up of updates by London-listed companies, issued Friday and not separately reported by Alliance News:
----------
ACG Acquisition Co Ltd - Special purpose acquisition company looking to benefit from favourable price conditions for new economy metals and other mining materials - Publishes prospectus relating to USD301 million equity offering to fund the balance of the acquisition of the Atlantic Nickel nickel sulphide mine in Santa Rita and the MineraƧao Vale Verde copper mine in Serrote, both in Brazil. Deals were announced on June 12. Calls emergency general meeting for July 20 to approve acquisition.
----------
On The Beach Group PLC - Manchester-based online retailer of beach holidays - Announces changes to the board today as part of the previously announced chief executive succession plan. Says
Jon Wormald joins as chief financial officer, Shaun Morton replaces Simon Cooper as chief executive officer as the latter becomes founder director.
----------
Kanabo Group PLC - London-based patient focused healthcare technology and cannabis company - Announces that at the annual general meeting held today all thirteen resolutions were passed.
----------
Seed Innovations Ltd - Guernsey-based wellness and life sciences company - Notes announcement released on the ASX by its portfolio company, Little Green Pharma Ltd in which company holds 2.45% interest. LGP has published results for the year ended March 31. Company says as a shareholder in LGP it is pleasing to note its stated pathway to profitability included in the chair's letter which addresses shareholder feedback, and reads: "Shareholder feedback has been clear: the company's immediate priorities for financial year 2024 must be to achieve cash flow break-even and subsequently profitability. Moving forward, these priorities will be the primary lens through which the company evaluates its strategic and operational activities and decisions, with the intention of achieving these goals as quickly as possible. We shall continue to report on both until achieved."
----------
PetroNeft Resources PLC - oil and gas exploration company focussed on Russia - Reiterates company will not be able to publish its annual accounts for the year ended December 31 by close of business today as required by AIM rules. Continues to try to source an auditor which remains challenging due to the company owning and managing assets within the Russian Federation in the current environment. Therefore, shares in company will be suspended from Monday.
----------
MobilityOne Ltd - e-commerce platform provider - Reports revenue in 2022 fell to GBP233.8 million from GBP255.7 million the year prior, as a result of lower sales from the group's main products and services, namely the mobile phone prepaid airtime reload and bill payment business through the group's banking channels. Pretax profit fell to GBP278,978 from GBP2.0 million. No dividend was paid.
----------
Pendragon PLC - Nottingham, England-based automotive retailer - Reports all resolutions at annual general meeting were passed other than resolution 2. Resolution 2, to approve the annual report on directors' remuneration for year ended December 31 was rejected by 56% of shareholders. Recognises the significant vote against this resolution. Although the remuneration committee is satisfied its decisions were made in the best interests of all stakeholders, it respects the views expressed by shareholders regarding the resolution in respect of remuneration awarded in 2022, company says.
----------
Black Sea Property PLC - property developer in Bulgaria - Says company will not be able to publish its financial statements for 2022 by today, as required by the AQSE Growth Market Access Rulebook. As a result, shares will be suspended from Monday.
----------
Rurelec PLC - South America-focused power producer and developer of power plants - Reports pretax loss in 2022 narrowed to GBP2.2 million from GBP3.7 million. Basic earnings per share were GBP0.39 compared to GBP0.65 the year prior. As Rurelec has now disposed of all, or substantially all of its business and assets it is now deemed to be an AIM 15 cash shell. The only significant assets left in the company are two Siemens 701DU turbines.
----------
Silverwood Brands PLC - London-based investing company targeting food, organic food, wellness, lifestyle and leisure sectors - Agrees to extend the deferred consideration payable by the company by Andrew Tone to December 15 from July 1.
----------
By Jeremy Cutler, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
