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Pin to quick picksQuantum Block Share News (QBT)

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TRADING UPDATES: Quantum Blockchain loss widens; First Tin rig on site

Wed, 21st Sep 2022 21:43

(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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Quetzal Capital PLC - London-based investor - Notes that its investee, Tap Global Ltd, has surpassed 100,000 registered users on its platform. Says the increase was primarily driven by retail customers. Adds Tap is primed to continue growing its user base. It completed a GBP1.5 million investment in Tap through convertible loans in December.

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Twentyfour Income Fund Ltd - closed-ended fund which targets less-liquid, higher-yielding asset-backed securities - Plans to increase minimum dividend payments above its annual target to 7 pence from 6p. Minimum quarterly dividends will grow to 1.75 pence per share beginning in the of the quarter which ends September 30 from 1.5p.

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Balanced Commercial Property Trust Ltd - UK commercial property investor - Net asset value as at June 30 stands at 148.6 pence, up from 135.1 pence the year before. Records a NAV return of 11.7%. Says its portfolio produced a total return of 9.7%, outperforming the MSCI UK Quarterly Property Index which returned of 7.8%. Attributes this to a good recovery from the pandemic. Notes that this was hampered by inflation. Says its interim dividend totalled 2.3 pence per share.

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Augmentum Fintech PLC - investment company focussing on the fintech sector - Notes HSBC Ventures has invested USD35 million in its portfolio company Monese. Says its portfolio company Habito has raised GBP5 million from existing investors, including Augmentum. The funding will allow the digital home buying services provided to complete its move to focus on core services.

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Quantum Blockchain Technologies PLC - London-based cryptocurrency researcher and investor - Pretax loss for the first half ended June 30 widens to EUR2.9 million from EUR1.1 million a year before, as administrative expenses jump to EUR2.1 million from EUR720,000. Records no revenue in the period, versus EUR6,000 a year before. Continues to remain focused on its research and development programmes.

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Octopus Titan VCT PLC - London-based venture capital trust - NAV per share as at June 30 falls to 91.3 pence from 113.9p a year before. Says the decline reflects "the difficult global macro environment". Cuts its dividend to 2.0p from 8.0p. Warns of negative impact of the conflict in Ukraine, cost of living crisis, high inflation rates and central banks hikes short-term. Believes in good prospects long-term.

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NB Private Equity Partners Ltd - investment company based in Guernsey - NAV per share as at August 31 stands atUSD28.67 per share, reflecting a decrease of 2.5% in the month. Says that the decline in its NAV was driven by quoted holdings and negative foreign exchange changes.

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First Tin PLC - London-based tin development company with projects in Germany and Australia - Says that a reverse circulation drill rig arrived on site at its Taronga tin project in northern New South Wales, Australia last week and started drilling. Expects another DD rig to arrive on site in early October. It will undertake geotechnical drilling designed to enable the effective design of pit wall slopes.

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By Abby Amoakuh; abbyamoakuh@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Quantum Blockchain Technologies raises GBP1 million

Quantum Blockchain Technologies PLC - London-based cryptocurrency researcher and investor - Raises GBP1.0 million via placing 71.4 million shares at 1.4 pence per placing share, a 27% discount to Wednesday's closing price of 1.93p. Company will use proceeds for research and development programmes, especially further development of its proprietary bitcoin mining machine learning algorithms and software product release, as well as its North America business development activities. Chief Executive Officer & Executive Chair Francesco Gardin says: "We are pleased to have performed this placing, which secures the funds to continue implementing the development of the company's cutting edge proprietary technologies."

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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday, Augmentum Fintech and Tap Global on Monday, and not separately reported by Alliance News:

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