(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Robinson PLC - Chesterfield-based plastic and paperboard packaging manufacturer - Expects revenue for 2021 at GBP45 million, up 21%. "Excluding the effects of the Schela Plast business acquired in February, underlying sales are in line with 2020 but include significantly higher resin prices passed on," Robinson says. Says sales volumes have suffered, however. Margins have been hurt in short-term but company has "begun to seek substantial price increases from all customers". This should see margins recover in 2022. In addition, company will benefit from GBP300,000 in annual cost savings following restructuring. Due to lower sales volumes, however, Robinson expects full year operating profit before exceptional costs and amortisation of intangible assets in range of GBP1.2 million and GBP1.3 million.
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WANdisco PLC - Sheffield-based data-management software company - Wins internet of things contract with "large European automotive components supplier". "The client has entered into a 'Commit to Consume' contract valued at a minimum of USD6 million over five years, to replicate over an exabyte of automobile sensor data to the Google cloud," WANdisco says.
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Tirupati Graphite PLC - graphite mining and processing company - Says commercial production begins at greenfield Vatomina project in Madagascar. It has capacity to produce 9,000 tonnes of flake graphite per year.
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Firering Strategic Minerals PLC - Cyprus-incorporated operator of Atex lithium-tantalum mine project in Ivory Coast - In deal to buy 51% of Alliance Minerals Corp SARL for EUR230,000. Has option to buy further 29% stake for EUR610,000. "The acquisition will provide Firering with a controlling interest in the licence application adjacent to the company's flagship Atex Lithium-Tantalum Project in Cote d'Ivoire," Firering says.
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Horizonte Minerals PLC - nickel company focused on Brazil - Subsidiary Araguaia Niquel Metais Ltda enters into deal to buy new and unused ferronickel processing equipment from Companhia Brasileira de Aluminio. Notes upfront cost of USD600,000 in cash with total potential consideration of USD7.0 million.
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Serica Energy PLC - gas producer in UK North Sea - Says output in second half of 2021 "benefitting from the investment in the Rhum R3 well reintervention". Output in November amounts to 28,500 barrels of oil equivalent per day, up from 26,200 in October. "Serica has made significant progress during the second half of 2021. The impact of the substantial investment programmes undertaken in 2020 and 2021 has been increased production levels providing responsibly sourced gas to the UK domestic market, protecting security of supply, and reducing reliance on imports as part of the transition to a lower carbon future," Chief Executive Mitch Flegg says.
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Alba Mineral Resources PLC - London-based mineral exploration company - Reports on analysis at Clogau-St David's gold mine. Sampling finds "four distinct geochemical groupings". One has a "compelling gold-silver-bismuth-lead-tellurium association". "This detailed multi-element analysis of the core samples obtained during all our drilling at Clogau to date has provided further validation of the key development targets we have identified from that work," Executive Chair George Frangeskides says.
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Thor Mining PLC - precious, base, energy and strategic metal projects in the US and Australia - Begins copper recovery testing at Kapunda project in Australia. "The purpose of lixiviant trials, or 'push pull tests', is to assess the solubility of copper mineralisation, and therefore copper recovery, using a specially designed solution called a lixiviant under in-situ conditions. The trial is to be undertaken in two stages," company says.
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Diaceutics PLC - testing laboratories company - Launches real-time Test Signal service in US. "Test Signal alerts a pharma customer when a patient tests positive for a biomarker linked to the profile of therapeutic linked to the pharmaceutical company," Diaceutics says.
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TPXimpact Holdings PLC - London-based IT consulting - Buys RedCortex Ltd, a digital and cloud-based transformation consultancy. The Cardiff-based firm supplies to the Welsh public sector, TPX says. Acquisition costs GBP13.4 million, GBP6.4 million in cash and GBP7.0 million in shares.
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Ridgecrest PLC - cash shell - At annual general meeting, Chair Rob Thesiger says company has met with "over 20 businesses across multiple sectors" that are looking to reverse into Ridgecrest. "Whilst many of these discussions ended at a preliminary stage, we were able, during the first half of the year, to progress discussions with a couple of businesses to draft heads of terms stage. However, for a variety of reasons these discussions were then terminated," Thesiger explains. Company says that as a reverse takeover is not likely to be completed within one year of being a cash shell, trading on AIM is expected to be cancelled at the beginning of January. Ridgecrest became a cash shell in early January 2021.
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By Eric Cunha; ericcunha@alliancenews.com
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