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TRADING UPDATES: Northcoders to expand; Pennant expects revenue growth

Tue, 31st Aug 2021 11:39

(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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Northcoders Group PLC - provider of training programmes for software coding - Delivers strong performance for the first eight months of its financial year ending August 31, with contracted revenue making up 90% of the annual revenue target. Looking ahead, aims to launch new technology products in the first quarter of 2022, which is expected to diversify apprenticeship revenue streams from its core coding and software focused programmes.

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Pennant International Group PLC - London-based provider of aerospace training software - For the first half of 2021, expects to report revenue at GBP7.4 million, up 17% from GBP6.3 million the year before, leading to a narrowed loss before interest, tax and amortisation of GBP1.0 million, compared to GBP2.5 million. Looking ahead, expects a significantly improved performance in the second half of 2021, leading to an Ebita profit for the period. As a result, company expects annual performance to meet market expectations.

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RUA Life Sciences PLC - Glasgow-based medical devices using polymer technology and formerly known as AorTech International - Reports good progress across all business areas despite supply chain disruption de to Brexit related-customs issues and staff shortages at suppliers due to Covid. In RUA Medical, order intake for major customer in US has returned to pre-Covid levels, while there is confidence in securing a manufacturing contract for medical textile components. Will purchase an industrial unit in Irvine, as the current unit will be exhausted upon the ramp up of graft production.

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Home REIT PLC - London-based real estate investment trust - As at July 31, net asset value per share is 104.6 pence, up 6.8% from the figure at its IPO on October 12, 2020, with property portfolio valued at GBP328 million. From June 3 to date, has acquired ten portfolios comprising 108 properties across England for GBP33.2 million in aggregate. Also announces intent to raise GBP262 million through placing, intermediaries offer and subscription for new shares worth 109 pence each, which will go towards further acquisitions.

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Lamprell PLC - Sharjah, United Arab Emirates-based engineer for the energy industry - Remains in discussions with three regional banks on USD90 million of Export Credit Agency-backed facilities for the completion of two IMI rigs. The facilities are expected to be made up of two equal tranches and be agreed on in the third and fourth quarter of 2021 respectively. Company itself also expects to raise at least USD30 million through equity in the fourth quarter.

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Supply@Me Capital PLC - London-based inventory monetisation platform - For the first half of 2021, Investment Advisory revenue up 28% year-on-year at GBP272,000 from GBP212,000 the year before, while the Captive: Inventory Monetisation platform generated revenue of GBP271,000 compared to none the prior year.

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Jersey Oil & Gas PLC - oil & gas company ‎focused on UK - Continues progress on Greater Buchan Area development project, with pre-Front-End Engineering & Design work programme completed, and the FEED entry, along with the previously advised Final Investment Decision and first oil dates to be rephased one near-term studies on electrification have progressed far enough. The farmout process is ongoing.

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Schroder BSC Social Impact Trust PLC - investment firm focused on positive social impact as well as long-term capital growth and income - Reports process of completeing a co-investment secured loan, which when signed will mark the full commitment of net proceeds from the company's IPO. In light of this, Schroder BSC is consulting with investors for a potential equity raise.

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Union Jack Oil PLC - Bath, England-based production, development, exploration and investment firm - and Reabold Resources PLC - London-based investor in natural resources - Report progress on the ongoing testing of the West Newton B-1Z well, located in the Southern Permian Basin, onshore UK. Union Jack Oil holds about 17% economic interest in PEDL183, while Reabold has about 17% direct stake and holds 59% shareholding in Rathlin, which, in turn, has a about 67% interest in PEDL183. The companies say testing of the B-1Z well to date has led to the recovery of gas and liquid hydrocarbons to surface. Despite the positive results the Kirkham Abbey reservoir has appeared sensitive to the drilling and completion fluids, due to signs of damage in near wellbore areas. As a result, B-1Z well will be suspended, and testing to take pplace at the A-2 well.

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Cornish Metals Inc - miner with assets in Cornwall - Drilling in Unitted Downs copper-tin project in Cornwall, UK has intersected high grade copper-tin mineralisation through five of the six drill holes, traced over a 200 metre-strike length and remains open along the strike. Results reported reflects a totla of 3,042 metres of drilling, with a further 5,000 to 6,000 metres planned.

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Castillo Copper Ltd - metals explorer in Australia and Zambia - Through the completion of eight induced polatisation survery lines at the Luanshya project in Zambia's copper-belt, multiple high chargeability targets have been identified within three lines which indicate the presence of sulphides. As a result, Castillo expects to start work on a drilling campaign in the fourth quarter of 2021, while the IP surveys will finish up at Luanshya then progress to the Mkushi project. In addition second drilling campaign at the Big One deposit has concluded.

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Thor Mining PLC - exploration and development company in Australia and the US - Reports significant copper and gold intercepts from the recently completed initial diamond drilling programms at the Alford East copper-gold project in the US. Results include the drill hole 21AED005, which reported 72.7 metres at 1.0% copper and 0.19 grams per tonne of gold from 6.3 metres. "The newly discovered broad zone of high copper and gold grades from near surface in 21AED005, combined with the significant intercepts in 21AED001 and 21AED002 takes this oxide mineralised system to a new level, reporting values well above the Mineral Resource Estimate grades," said Managing Director Nicole Warland.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
27 Feb 2024 10:20

Reabold "well positioned" after selling Victory project to Shell

(Alliance News) - Reabold Resources PLC on Tuesday announced the GBP32 million sale of the Victory gas project to Shell UK Ltd.

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19 Jan 2024 11:05

Scirocco celebrates final payment from Shell for Corallian sale

(Alliance News) - Scirocco Energy PLC on Friday said it was "pleased" to hear Reabold Resources PLC will receive a final payment from Shell UK Ltd, adding that it expects an injection of cash to its balance sheet as a result.

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18 Jan 2024 13:49

IN BRIEF: Reabold to get final payment from Shell in coming days

Reabold Resources PLC- London-based investor in "low-risk, near-term" oil and gas projects says the final tranche of payment from Shell UK Ltd in relation to the sale of Corallian Energy Ltd will be distributed to former Corallian shareholders over the coming days. This follows the grant of development approval for the Victory gas field. Reabold will receive GBP4.4 million from Shell, having already received GBP8.3 million. It will use proceeds to advance development of assets within its portfolio, and will distribute excess cash to shareholders. "This represents a significant moment in the delivery of the Reabold strategy to identify, fund and monetise underappreciated, but strategically important assets," says Co-Chief Executive Officer Stephen Williams.

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10 Jan 2024 12:51

Reabold shares up as shareholders reject proposed board changes

(Alliance News) - Reabold Resources PLC on Wednesday said that shareholders had rejected all proposals to remove its existing board at a requisitioned general meeting.

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4 Jan 2024 21:10

IN BRIEF: Reabold reiterates share suspension warning if board ousted

Reabold Resources PLC - invests in "low-risk, near-term" oil and gas projects - Says that nominated adviser Strand Hanson Ltd has not received sufficient information regarding the suitability of proposed directors for their potential roles as directors. Reabold reiterates that if resolutions pass at the upcoming requisitioned general meeting, scheduled for next week Wednesday, Strand Hanson would be required to resign from its role as Reabold's nominated adviser immediately. This would mean the cancellation of Reabold's shares on the AIM market, which could be cancelled one month later if Reabold does not find a new nominated adviser by then. The adviser has not been able to complete its required due diligence on the board directors proposed by Pershing Nominees Ltd. The 7.8% shareholder group had requisitioned the general meeting proposing to remove the entire Reabold board and name four new directors.

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3 Jan 2024 14:55

UK shareholder meetings calendar - next 7 days

Thursday 4 January 
Rotala PLCGM re management buyout
Tintra PLCGM re cancellation, re-registering as private company
ValiRx PLCGM re operational review
Friday 5 January 
MTI Wireless Edge LtdEGM re proposed grant of options to the directors
Monday 8 January 
Plus500 LtdEGM re director election
Velocys PLCCourt Meeting and GM re recommended cash acquisition by Madison Bidco Ltd
Tuesday 9 January 
Agriterra LtdAGM
DX Group PLCGM re acquisition by HIG Capital funds
GENinCode PLCGM re fundraise
Leeds Group PLCGM re sale of subsidiary Hemmers-Itex
Smart Metering Systems PLCGM re acquisition by KKR funds
Wednesday 10 January 
Hummingbird Resources PLCGM re share placement
Ironveld PLCAGM
Reabold Resources PLCGM re appointment of new directors
Safestyle UK PLCEGM re approve winding up of company
Scirocco Energy PLCGM re proposed disposal of interests in Energy Acquisitions Group Ltd
Versarien PLCGM re capital reorganisation
  
Copyright 2024 Alliance News Ltd. All Rights Reserved. 

Read more
28 Dec 2023 10:37

IN BRIEF: Reabold Resources warns of share suspension if board ousted

Reabold Resources PLC - invests in "low-risk, near-term" oil and gas projects - Strand Hanson Ltd would be forced to resign as Reabold's nominated adviser were the resolutions at the upcoming requisitioned general meeting to be passed. Reabold says Strand Hanson informed it of this, as the adviser has not been able to complete its required due diligence on the board directors proposed by Pershing Nominees Ltd. The 7.8% shareholder group requisitioned the general meeting, scheduled for January 10, proposing to remove the entire Reabold board and name four new directors. Were Reabold to be left without a nomad, its shares would be suspended from trading on AIM following the general meeting. If no replacement were to be named within a month, the shares would be cancelled from trading.

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20 Dec 2023 20:00

TRADING UPDATES: K3 Business says cash balances ahead of forecast

(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
20 Dec 2023 14:02

Reabold reports further progress at LNEnergy

(Sharecast News) - Reabold Resources updated the market on its subsidiary LNEnergy on Wednesday, in which it holds a 26.1% stake.

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13 Dec 2023 11:06

IN BRIEF: Reabold Resources resumes buyback as dissenters oppose board

Reabold Resources PLC - invests in "low-risk, near-term" oil and gas projects - Resumes GBP750,000 share buyback programme started in April, after receiving payment from Shell PLC for the oil major's purchase of Reabold's Victory asset. Reabold has returned GBP156,154 of the total so far, and now will complete the programme with up to a further GBP593,846 in purchases. Reabold has received from Shell GBP5.2 million out of a total GBP9.5 million in deferred net proceeds from the sale of Victory, a project offshore the UK. Reabold eventually plans to return GBP4 million of this to shareholders. "Reabold's board evaluates many investment opportunities consistent with its investing policy and believes that the current market value of the company's ordinary shares makes the buyback an appropriate use of capital," the company says on Wednesday.

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11 Dec 2023 22:02

IN BRIEF: Reabold Resources invests further GBP1.7 million in LNEnergy

Reabold Resources PLC - oil and gas investing company with a diversified portfolio of exploration, appraisal and development projects - Says it has exercised an option to subscribe for 116 new shares in LNEnergy Ltd, investing GBP1.7 million in the firm. Says GBP750,000 of the investment will come from its existing resources, with the remainder satisfied by the issue of 486.5 million new shares at 0.185 pence each to LNEnergy. Says it now holds a 26.1% stake in LNEnergy. Notes that LNEnergy's Santo gas field has the potential to generate between EUR11 and EUR12 million in cash flow per year.

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11 Dec 2023 14:10

Reabold exercises second option to invest in LNEnergy

(Sharecast News) - Oil and gas investor Reabold Resources has exercised its second option to acquire 116 new shares in LNEnergy, it announced on Monday, by investing £1.65m.

Read more
6 Dec 2023 10:56

Scirocco Energy to receive next payment for sale of Corallian shares

(Alliance News) - Scirocco Energy PLC on Wednesday said it will receive further payment from Shell UK Ltd for Reabold Resources PLC's sale of Corallian Energy Ltd.

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5 Dec 2023 15:02

Reabold gets £5.2m second payment for Corallian sale

(Sharecast News) - Oil and gas investor Reabold Resources announced the next tranche of payment from Shell UK for the sale of Corallian Energy in November last year.

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5 Dec 2023 12:19

Reabold Resources secures GBP5.2 million tranche for sale of Corallian

(Alliance News) - Reabold Resources PLC on Tuesday said that it has received the next tranche of payment from Shell UK Ltd for the sale of the Corallian Energy Ltd.

Read more

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