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Pin to quick picksReabold Resources Share News (RBD)

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UK TRADING UPDATE SUMMARY: NHS Uses Induction Healthcare's Mobile App

Thu, 16th Apr 2020 14:57

(Alliance News) - The following is a round-up of updates by London-listed companies on the impact of the Covid-19 pandemic, issued on Thursday and late Wednesday and not separately reported by Alliance News:

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Induction Healthcare Group PLC - healthcare technology - Says majority of doctors in UK National Health Service using Induction healthcare information mobile application. Says demand for company's tools have increased as a result of Covid-19 outbreak.

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N4 Pharma PLC - pharmaceuticals - Receives Covid-19 plasmid DNA from National Institute for Health in US. Researching whether Nuvec medication can produce Covid-19 antibodies.

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Target Healthcare REIT PLC - healthcare property investor - Received rent collection for March quarter in line with usual collection patterns. Says confirmed Covid-19 cases affecting fewer than 5% of beds in its portfolio.

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Two Shields Investments PLC - investor - Portfolio company BrandShield warns of increase in phishing scams during the pandemic. Warns that illicit scams target users of streaming services, 639 new domain names with the word Netflix were registered since beginning of 2020.

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Morses Club PLC - lender - Launches remote lending product. Says 33% of collections transferred from face-to-face to remote over past three weeks.

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Charles Stanley Group PLC - wealth manager - Funds under management down 20% to GBP20.2 billion in three months to March from GBP25.3 billion in December amid market volatility.

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Management Consulting Group PLC - consultants - Says 2020 started promisingly but trading began to suffer in Asia in February due to pandemic. Disruption spread to other regions in March. Targeting, unconnected to Covid-19, GBP4 million in annual cost savings.

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Dillistone Group PLC - recruitment software - Had "strong" start to 2020 prior to Covid-19 impact. Says demand suffered due to pandemic. Says no full-year guidance and delays annual results, initially penned to be reported on April 27.

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Gaming Realms PLC - mobile games - Delays full-year results that were initially planned for this week. Audit yet to be completed due to Covid-19 disruption.

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Sportech PLC - gambling software - Delays annual general meeting due to Covid-19. AGM to be held before end of June, but not on May 20 as initially planned. Chair and chief executive officer take 50% pay cuts, salary freeze implemented, and "significant" number of staff furloughed.

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Escape Hunt PLC - escape room experiences - Has furloughed 124 staff and expects VAT and other tax deferrals. Says some landlords have allowed for rent payments to be deferred and senior staff have taken 25% pay cut. Company's monthly cash costs slashed by 70%.

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Revolution Bars Group PLC - bar operator - Increases Natwest revolving credit facility to GBP30.0 million until August 31.

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Hornby PLC - toys and hobby products - Benefiting from government support schemes in markets where it operates. Says full-year revenue and gross margin ahead of year prior but no financial guidance of Covid-19 impact due to uncertainty.

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Walker Greenbank PLC - interior furnishings - Closed factories in UK as well as showrooms elsewhere in New York and Paris. Accessing government support schemes "wherever possible". Vast majority of employees furloughed and management team take 20% salary reduction.

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Haydale Graphene Industries PLC - advanced materials - Still assessing full impact of virus but notes falling demand for silicon carbide blanks. Taking advantage of US and UK government support schemes.

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Woodbois Ltd - forestry and timber - Says first quarter revenue up 10% year-on-year amid no Covid-19 demand hit until end of quarter. Factories in Gabon closed due to lockdown.

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DX Group PLC - freight and delivery - Says delivery activity down by 33% immediately after UK government lockdown. Furloughs some employees and has cut spending.

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Volex PLC - power products - Sales for the year ended April 5 up 5.4% to USD392 million from USD372 million. Expects future trading to be hit by government containment measures due to Covid-19.

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Proton Motor Power Systems PLC - fuel cell technology - No case of Covid-19 at factories. Protective measures in place at Puchheim, Munich unit.

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Amedeo Air Four Plus Ltd - aircraft leasing - Customer Emirates seeking financial accommodation. Amedeo asks asset manager to continue talks with the airline and its lending banks.

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TP Group PLC - engineering services - To build gas production equipment in response to Covid-19. Says equipment will be able to produce medical gases.

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Kodal Minerals PLC - exploration and development - Granted renewal of exploration permits at Dabakala and Korhogo gold projects in Cote d'Ivoire. Notes planned activity at joint-venture projects with Resolute Mining Ltd postponed due to virus.

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SolGold PLC - gold and copper miner - Receives expressions of interest for potential concentrate offtake at Alapala project, Ecuador. Says 10 received and more expected when Covid-19 restrcitions lifted.

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Hummingbird Resources PLC - gold miner - No material production hit from Covid-19 but risk mitigation measures in place. First quarter production down 11% quarter-on-quarter to 30,282 ounces of gold poured.

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Capital Drilling Ltd - mining services - Says mining operations continue uninterrupted despite Covid-19 uncertainty. Supply chain movement mainly land and sea based so largely unaffected by travel curbs. First-quarter revenue rises 20% to USD32.5 million.

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Base Resources Ltd - mineral explorers - Says operations at Kwale, Kenya continued uninterrupted so full-year guidance maintained. In quarter-ended March, ilmenite production up 20% year-on-year, rutile up 17% and zircon rises 32%.

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Reabold Resources PLC - oil project investor - Drilling at IMIC-2 well in 50%-owned Danube project, Romania delayed due to Covid-19 border closures. Reports commencement of activity at West Newton B site onshore UK.

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Tlou Energy Ltd - gas and solar projects - Says cost reductions in place to counter Covid-19 impact. Notes state of national emergency declared in Botswana.

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Great Western Mining Corp PLC - explorer - Application for surface disturbance works at Nevada acreage accepted in "timely manner" despite Covid-19 outbreak.

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Anglo Asian Mining PLC - gold, silver and copper producer - Reports 10% first quarter fall in gold equivalent production to 18,219 ounces. Says first quarter in line with guidance despite Covid-19 outbreak.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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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:

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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.

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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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