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Pin to quick picksReabold Resources Share News (RBD)

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UK TRADING UPDATE SUMMARY: Novacyt Called Upon To Ramp Up UK Testing

Mon, 27th Apr 2020 13:51

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

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Novacyt SA - clinical diagnostics - Wins deal to supply Covid-19 testing kits to the UK Department of Health. To initially provide tests for six months. Committed to supply 288,000 tests per week for NHS use.

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Byotrol PLC - infection prevention - Continues to see exceptional demand across all markets due to the Covid-19 pandemic. Predicts strong demand to continued to at least the first quarter of year ending March 31, 2021, and likely beyond. Strong order book exceeding GBP2 million and expects record product sales in the first quarter. Estimates revenue of GBP6.0 million for financial 2020 and adjusted earnings before interest, tax, depreciation and amortisation of GBP250,000. Cash of GBP1.7 million at March-end.

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Mind Gym PLC - behavioural science - Expects revenue for year ended March 31 to rise 15% to GBP48.2 million and adjusted pretax profit between GBP5.8 million and GBP7.3 million. Furloughs some employees and 20% salary cuts implemented among workforce and directors. Founding directors forego 100% of salary.

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Omega Diagnostics Group PLC - allergy testing - Says partner Mologic Ltd's Covid-19 antibody test receives regulatory CE-mark. Omega to now work towards manufacturing 46,000 Covid-19 tests per day.

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Venture Life Group PLC - self-care products - Inks 15-year pact worth EUR168 million with partner for distribution of Dentyl mouthwash products in greater China. Says demand was high before and after Covid-19 outbreak in China.

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EKF Diagnostics PLC - healthcare products - Says demand for PrimeStore MTM sample collection device boosted amid pandemic. First quarter trading exceeded expectations and on-track for full-year growth.

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Faron Pharmaceuticals Oy - biopharmaceuticals - Reports Traumakine respiratory drug to be included in World Health Organization's Solidarity trial for potential Covid-19 treatments.

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Hostelworld Group PLC - hostel operator - Reports Covid-19 outbreak has caused significant disruption in travel market. First quarter earnings before interest, tax, depreciation and amortisation down by about USD4.8 million year-on-year and second quarter booking volumes minimal.

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Camellia PLC - agriculture - Says all operations bar India running close to full capacity. Some tea auctions have been cancelled in recent weeks and tea prices poor in first quarter due to overproduction in 2019, but sees some signs of increased demand amid virus crisis. Engineering business running close to full capacity but says all of UK Food Service have been forced to furlough some staff.

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Union Jack Oil PLC and Reabold Resources PLC - hydrocarbon producer and oil & gas investor - Both note operator of West Newton A-2 well receives positive decision from UK regulators. Testing operations at West Newton to commence after Covid-19 movement curbs subside. Reabold has 39% stake in West Newton, Union Jack has 17% interest.

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Serinus Energy PLC - gas producer - Executive directors take 20% pay cut due to virus crisis and commodity price crash. Will receive company shares to top up salary. Non-executive to take 25% cut in fees.

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Petroneft Resources PLC - oil & gas producer - Reports successful re-entry of C-3 well in Cheremshanskoye field, Russia. Well re-entry programmes suspended due to pandemic.

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Anglo Pacific Group PLC - natural resources - Says Covid-19 has had minimal impact on royalties in first quarter. Says total portfolio contribution in first quarter down 1.6% quarter-on-quarter to GBP12.6 million.

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ADM Energy PLC - oil & gas investor - Says social distancing measures adopted in offices. Putting in place measures for immediate 35% cut in general and administrative expenses. Unclear on how Covid-19 and commodity price falls will affect investment level.

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Aminex PLC - oil & gas producer - Names Non-Executive Robert Ambrose as interim chief executive officer. Says focus on fixed-price sales contracts protected it from oil price falls but adds delays in Tanzania operations likely due to movement restrictions. Granted extension on Ruvuma licence, Tanzania. Investor Solo Oil PLC, with 25% stake in Ruvuma, noted licence extension.

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Chaarat Gold Holdings Ltd - gold miner - Closes placing, raising USD13.8 million. Says placing conducted to strengthen finances amid challenging market.

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Yu Group PLC - utilities supplier to businesses - Launches Assist and Agile energy plans for businesses hurt by Covid-19. Both plans allow for reduced energy prices.

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Staffline Group PLC - recruiter - Names Ian Lawson as executive chair effective immediately, replacing Chris Pullen. Says demand in food sector surged, but slumped in manufacturing, retail and automotive. Has furloughed some staff where possible.

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SimplyBiz Group PLC - compliance and business services - Implements cost savings like freezing spend, halting pay rises and cutting director salaries. Confirms final dividend for 2019 but rules out interim 2020 dividend. Withdraws full-year guidance. Non-Executive Director Gary Hughes to become deputy chair with immediate effect.

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Trakm8 Holdings PLC - data insight - Says revenue for year to March 31 in line with guidance, 2% higher at GBP19.6 million. Says Covid-19 delayed hardware shipments, and meant that negotiations with UK-based food retailer were not completed.

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System1 Group PLC - online market research - Expects fourth quarter sales revenue to fall by a quarter and by 2% in year to end of March. Has furloughed some staff and adds that board and other senior executives have agreed to defer 20% of salaries.

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Quartix Holdings PLC - vehicle tracking software - Says initial impact on earnings from pandemic was limited. Unable to provide annual guidance due to uncertainty. Trading in first quarter ended March in line with expectations.

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7digital Group PLC - digital music streaming - Implements cost cuts, saving GBP750,000 per month. Says Covid-19 has meant some first half contract wins pushed to second half.

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Accesso Technology Group PLC - software solutions - Says cost cuts mean monthly expenses reduced by USD2.6 million. Furloughs 50% of staff and cuts 29 additional full-time positions. Says pandemic has hit key markets, including North America, but backs rebound.

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Holders Technology PLC - products for printed circuit boards - Cuts planned final dividend by two-thirds to 0.25 pence per share from 0.75p per share to save costs amid pandemic.

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Windar Photonics PLC - wind sensors developer - Receives order for 30 WindVision systems in China. Says all employees agree to 20% monthly salary cut due to Covid-19.

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Filtronic PLC - antenna manufacturer - Says supply chain a concern but does not predict critical shortages of materials. Search for new CEO delayed due to virus. Does not expect a new CEO to join before its first quarter beginning June.

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Alumasc Group PLC - building products - Water Management to reopen sites in Burton Latimer, Northamptonshire, and Halstead, Essex, from Monday. Says some furloughed staff in Roofing and Levolux units to be brought back if demand allows.

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Springfield Properties PLC - housebuilder - Agrees an additional GBP18 million one-year loan with Royal Bank of Scotland, increasing total credit facility to GBP85 million. Says 90% of workforce furloughed and executive and non-executive directors agree to 50% reduction in salary.

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Macau Property Opportunities Fund Ltd - property investor - Says no new Covid-19 infections in Macau since April 9. Completes USD2.4 million disposal of a unit at One Central Residences skyscraper in Macau.

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SQN Secured Income Fund PLC - investment trust - To hold general meeting on continuation vote in June, unable to hold meeting in first quarter of 2020 due to Covid-19.

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Verditek PLC - green technology investor - Says Lainate in Italy commenced production on April 6, after employees self-isolated in line with government guidance. Signs deal to develop solar panel manufacturing site in Portugal.

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PCF Group PLC - specialist bank - Says virus had limited impact on first half, though future hurt expected. Says Covid-19 outbreak has reduced lending levels.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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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

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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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