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(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Quartix Technologies PLC - Newtown, Wales-based vehicle tracking system provider - Reports results for the year ending December. Says revenue increased by 8.6% to GBP29.9 million from GBP27.5 million the year prior. Adjusted pretax profit fell by 12% to GBP5.1 million from GBP5.8 million. Statutory pretax loss was GBP0.9 million, swinging from profit of GBP5.0 million. Notes loss reflected recognition of a GBP2.7 million impairment charge against the acquisition of Konetik in the year. Adjusted diluted earnings per share fell by 20% to 8.74p from 10.88p, total dividend more than halves to 3.00p per share, down from 7.80p. Reports a positive start to the new financial year, with new installations in January approximately 10% ahead of the same period in 2023.
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Molecular Energies PLC - North, Central and South America-focused oil and gas company - Provides an update on Green House Capital Group PLC, in which it is a 75% shareholder. Reports GHC has received advance assurance from HM Revenue & Customs for prospective investment under the Enterprise Investment Scheme. Explains the scheme enables a qualifying investor with a UK tax liability to claim income tax relief in the UK of up to 30% of their investment, subject to a maximum investment of GBP1 million per tax year. States this is a positive development for GHC and its future funding plans, whether through IPO or other new share issue to enable the expansion and growth of the business.
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Amur Minerals Corp - cash shell and former Russia-focused nickel copper sulphide exploration company - Amur says it entered into a heads of terms agreement to acquire a UK based candidate in the healthcare sector on January 25. Explains the proposed deal will constitute a reverse takeover. Amur expects to be in the position to publish an AIM admission document before the end of April. Pending publication of this documents, says shares will remain suspended.
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Bridgepoint Group PLC - London-based private equity investor - Updates on agreement to buy Energy Capital Partners Holdings LP for GBP835 million, announced in September. Confirms all relevant regulatory clearances have now been received, apart from one from the Federal Energy Regulatory Commission. Explains FERC has not authorised the deal on the basis that insufficient information had been provided with respect to proposed voting restrictions agreed to by one of Bridgepoint's minority shareholders to limit their indirect control over certain FERC regulated entities. Bridgepoint says it is working with the relevant shareholder to address the points raised in the FERC order. As a result, expects completion of the deal to be delayed until the second quarter of 2024.
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Hargreaves Services PLC - Durham-based provider of industrial and environmental services - Completes the buy-in of the group's two defined benefit pensions schemes. Notes the shortfall in the schemes assets which required funding was GBP3.7 million. Says after taking into account fees and other adjustments this could rise to a maximum GBP6.6 million. But, notes this is lower than the previously estimated maximum cost of GBP9 million. States the group has made an initial cash payment of GBP7.7 million out of existing cash reserves in order to secure this position. Points out the buy-in has removed the need for any further deficit reduction contributions from the group, was paying GBP1.8 million annually. Expects buy-in to be completed within 12-24 months.
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Saietta Group PLC - Towcester, England-based manufacturer of drivetrain systems for electric vehicles - Ends strategic review and appoints administrators. Follows failure to confirm a buyer for the business or to secure additional funding. Requests suspension of trading in shares, effective Monday. Confirms some expressions of interest were received but no proposal provided the necessary liquidity. Notes talks with interested parties will continue in administration.
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Digital 9 Infrastructure PLC - London-based investor in internet infrastructure, such as data centres and subsea fibre - Provides progress update to shareholders on closing conditions required for the sale of Verne Global. Notes the revolving credit facility lenders grant approval for the deal, as do lenders under the debt facility. As a result, says closing of the deal is now conditional on approval in Iceland and on Foreign Direct Investment approval in Finland.
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Cloudbreak Discovery PLC - Vancouver, Canada-based natural resource project generator - Amends agreement for its secured convertible debenture with G2 Energy Corp, from May 2022. Extends maturity date by one year to May 31 2025 from May 31 2024, with the option to extend for a further year.
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By Jeremy Cutler, Alliance News reporter
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