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TRADING UPDATES: Vela, Standard Life Investments up portfolio value

Tue, 03rd May 2022 21:55

(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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Vela Technologies PLC - Bradford, England-based investment company focused on early-stage technology companies - At March 31, portfolio comprises of 12 active investments, up from 10 at December 31. The fair value of the portfolio was GBP5.6 million, up from GBP4.9 million in the same comparative periods. Cash balance at March 31 totals GBP949,000.

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Standard Life Investments Property Income Trust Ltd - Essex, England-based commercial property investor - At March 31, net asset value per share stands at 106.6 pence, up 5.5% from 101.0p at December 31. This resuts in a total NAV return of 6.6% for the first quarter of 2022. Loan to value of 18.6% at March 31. Portfolio value increases by 4.4% quarter-on-quarter. Adds it has a "strong" balance sheet with "significant" financial resources available for investment.

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Zenith Energy Ltd - Calgary, Canada-based oil & gas company - Fully settles its liability resulting from loan agreements with Winance on May 26 and December 6. Company repays EUR650,000 in cash with the balance being paid through reserve shares. Company also settles its USD2.5 million convertible loan facility having made repayments of USD600,000.

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San Leon Energy PLC - Dublin-based oil and gas production, development and exploration company focused on Nigeria - Extends the timing of its follow-on investment in the Oza oil field in Nigeria. The time period for providing the loan is extended to June 30 on the basis San Leon will increase the size of the loan to USD2.5 million from USD2.0 million. This increased loan will continue to be made via 10% per year unsecured subordinated loan notes of Decklar Resources Ltd on the same repayment terms as originally announced on September 1, 2020.

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Love Hemp Group PLC - London-based cannabidiol products company - Sees shares temporarily suspended from trading on the Aquis Exchange. Says the reason for the suspension is because Peterhouse Capital has resigned as its advisor. Company adds that one of the investors in its subscription announced on February 8 has failed to make a payment for the subscription of shares of 0.1 pence each. Love Hemp says these shares will be cancelled. Says shortfall in the fundraise has not impacted its operations.

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Minoan Group PLC - Surrey, England-based company focused on developing a tourism project in Crete - Chair Christopher Egleton buys 5 million shares at 1 pence each, worth GBP50,000, on Tuesday. Executive Director Georgios Mergos also buys 5 million shares at 1 pence each, worth GBP50,000, on Tuesday.

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Central Asia Metals PLC - London-based copper, zinc and lead explorer operating in Kazakhstan and North Macedonia - Says its Kounrad dump leach, solvent extraction and electro-wining copper recovery plant in Kazakhstan has reached its 10-year production milestone. Expects to produce copper at Kounrad until 2034.

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Online Blockchain PLC - Ongar, England-based blockchain research and development company - Reports "excellent" progress for its cross-chain asset bridge, Narni. Says platform's average transactions per day now totals 600 with transaction values ranging between USD3.0 and USD50,000.

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VSA Capital Group PLC - London-based Investment banking and broking firm - Signs fee settlement with Anglo African Agriculture PLC. Anglo African will allot 3.8 million shares to VSA to settle outstanding GBP152,945 in fees. VSA now holds 15% of Anglo African. VSA says Chief Executive Andrew Monk and Director Andrew Raca have signed a relationship agreement with Anglo African to ensure that the company is capable of carrying out business independently of VSA. Monk holds 4.3% of Anglo African.

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Tekcapital PLC - London-based intellectual property investor - Says portfolio company Guident is working with Airspan Networks Holdings Inc to provide customers with connectivity and software solutions for autonomous vehicles. Companies have deployed a 5G private network testbed at Guident's facility in Florida.

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Benchmark Holdings PLC - Sheffield, England-based aquaculture genetics, health and nutrition company - Wins marketing authorisation for Ectosan Vet from the Norwegian Medicines Agency. Ectosan Vet is the company's sea lice solution. The authorisation allows for the re-use of the treatment water for a second batch of fish. This, the company explains, increases the efficiency of treatments.

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Reabold Resources PLC - London-based oil and gas company with projects in the UK, the US and Romania - Says Daybreak Oil & Gas will hold a special shareholder meeting to vote on the equity exchange agreement announced first on October 21. Company says though this date falls after the long stop date for the transaction, the equity agreement will remain in place with completion at the same time. Upon completion, Reabold California will become a wholly-owned subsidiary of Daybreak. In exchange, Daybreak will issue 161 million shares to Gaelic Resources Ltd, a wholly-owned company of Reabold. As a result, Reabold will hold 47% of Daybreak.

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Sovereign Metals Ltd - Perth, Scotland-based rutile exploration and development company focused in Malawi - Secures AUD15 million, around from USD10.7 million, from UK, European and North American investors to subscribe for 22.2 million shares at an issue price of AUD0.67 plus one-for-two unlisted option with an exercise price of AUD0.80. Funds will be used to to further the development of the Kasiya Project.

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JPEL Private Equity Ltd - Guernsey-based investment company - Says, following its latest mandatory redemption, its portfolio has an estimated net asset value of USD56 million. Portfolio consists of 7 direct investments and 41 limited partnership interests.

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Woodbois Ltd - Guernsey-based timber producer - A person closely associated with Non-Executive Director Henry Tucan sells 10.7 million shares at GBP0.06 each, worth GBP639,189, on Friday. Now holds 19% of the voting ordinary shares.

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Destiny Pharma PLC - Brighton-based clinical phase biotechnology company - Appoints Yuri Martina as chief medical officer. Company says Martina has more than 20 years' experience and an "extensive record of excellence" in clinical development.

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CEPS PLC - Bath, England-based investment company focussed on the industrial sector - Extends the repayment date of the loan from Chelverton Asset Management Ltd to a rolling eighteen-month basis from April 29. All other terms remain the same. The loan stands at GBP3 million.

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Canadian Overseas Petroleum Ltd - Calgary, Canada-based oil and gas company - Says its affiliate Canadian Overseas Petroleum America Inc's purchase of the Wyoming assets of Cuda Energy LLC was approved in Canada by the Court of Queens Bench of Alberta on Friday. Final approval of the sale is subject to approval of the US Bankruptcy Court for the District of Wyoming.

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Ariana Resources PLC - London-based gold exploration company focused on Turkey - Announces the third USD100,000 investment of the Asgard Metals Fund which is being developed as part of the company's project catalyst strategy. The fund will take an interest in Singapore-based company Annamite Resources Holdings Pty Ltd with copper and gold licences in Laos. 2.5 million shares in Annamite will be issued following the USD100,000 investment and additional shares are to be earned within a consultancy agreement equalling up to USD200,000. Under the consultancy agreement, Ariana will provide technical consulting services for Annamite's exploration efforts for up to two years. Asgard will own 3.8% of Annamite following the investment.

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Harmony Energy Income Trust PLC - London-based investment company focused on energy projects - Expects an increase in projected revenue assumptions of 17% on a net present value basis, leading to a net asset value increase. Says it is making good progress on its Seed Portfolio projects. Company's next NAV update is expected to increase by 9 pence per share.

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By Heather Rydings; heatherrydings@alliancenews.com

Copyright 2022 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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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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