(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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Compass Group PLC - FTSE 100-listed Surrey-based contract caterer - Says over 32% of shareholders vote against director remuneration policy at annual general meeting. Believes policy is "balanced and is fully aligned to the interests of Compass and our shareholders." Adds: "The board acknowledges that some shareholders did not vote in favour of this resolution, ie, to align the quantum of LTIP awards for executive directors to bring our remuneration to market levels, to increase the level of shareholding requirement for executive directors and to introduce the mandatory deferral of a proportion of annual bonus earned by executive directors in future."
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ThinkSmart Ltd - Perth, Australia-based digital payments platform for 'Buy Now Pay Later' sector - Agrees to purchase portfolio of leases from Secure Trust Bank PLC for GBP1.2 million and STB returns company's GBP2.0 million deposit that was part of financial guarantee contract between the pair.
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GCP Asset Backed Income Fund Ltd - Jersey-based investment firm - Notes no material developments in Co-living Group loan arrangements, with discussions still progressing for acquisition of three assets that are transferring out of the Co-living Group.
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Virgin Wines UK PLC - direct-to-consumer online wine retailer - Total revenue in six months to December 31 guided at GBP45.0 million, in line with year before. Notes repeat sales from core channels up 6.2% year on year to GBP29.6 million and up 58% from two years ago. WineBank membership grows 11% on year before, with the business performing ahead of expectations, delivering a 28% increase in revenue. Chief Executive Jay Wright says: "As expected, the trading environment has evolved considerably over recent months, and given strong prior year comparatives, we have worked hard to maintain encouraging growth from our core sales channels, whilst maintaining strict discipline around our customer acquisition and our cost control. This performance continues to reflect the strength of our award-winning consumer propositions, the ongoing loyalty of our existing customers, the quality of our wines and our growing reputation for outstanding customer service. We are also pleased to report that the customers acquired during the Covid lockdown period continue to perform strongly."
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ScS Group PLC - Sunderland-based retailer of furniture and flooring - Trades "well" through the important winter sale period of 26 weeks to January 29, with order intake for the first half in line with board's expectations, and one year like-for-like order intake growth of 17%. Two year like-for-like order intake is in line with that achieved in the pre-pandemic 26 week period to January 25, 2020. "The board is pleased with the group's bookings performance to date and it remains on track to meet full year expectations," company adds. Notes order book has grown significantly against previous comparative periods, driven by the ongoing demand and supply chain challenges which have extended product lead times. At January 29, order book double the GBP148.0 million seen at January 25, 2020.
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Dillistone Group PLC - Basingstoke, England-based software and services provider that enables recruitment firms to manage their selection process - Expects 2021 results in line with market expectations. "The strong end to 2021 has been followed by encouraging signs in the first weeks of the new year across a number of group products, including both our established and next generation applications," company adds.
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Crimson Tide PLC - Tunbridge Wells, Kent-based mobile software firm - Says revenue for 2021 was "slightly" ahead of expectations of GBP4.0 million. Also noted April's fund raise will lead to "slightly" smaller losses of the GBP700,000 forecast. "Results were boosted by increased mpro5 subscribers, for new and existing clients alike, with our activities in rail and food safety standing out in terms of additions to base subscriptions," company explains. Adds: "Our goal remains to reach Ebitda breakeven during 2022, however, we believe that top-line growth is open to us across our sectors and internationally and we will invest capital further where we see opportunity. The Directors remain confident in future growth and believe that our ability to scale the business has never been greater."
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Verditek PLC - London-based company producing solar panels - Sells 10.6% stake in Industrial Climate Solutions Inc to Baker Hughes Energy Services Canada Inc for initial payment of about GBP308,000. Will receive further GBP1.8 million dependent upon certain milestones being met. "The sale will enable the company to realise value from its investment for use in its core operations. Cash received will be used to provide working capital for Verditek's solar power business," company says.
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Cadence Minerals PLC - London-based investor in mineral resources - Raises gross proceeds of GBP4.1 million from oversubscribed placing of 19.5 million shares at 20.5 pence each. Notes further GBP100,000 netted from subscription of 487,805 shares. Intends to use the net proceeds to invest further in the Amapa iron ore project, increasing its stake to 27%, as announced early December.
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Rambler Metals & Mining PLC - Canada-focused copper and gold producer, explorer and developer - Raises gross proceeds of GBP3.8 million from placing of 14.5 million shares at 26.5 pence each. The funds raised will be used to underwrite ongoing underground development and for working capital, company says. London-listed Primorus Investments PLC subscribes for 1.0 million shares at 26.5p, for total of GBP276,610 in fundraising. Rambler notes placing is in support of mining production expansion, with full mill production expected by the end of the first quarter of 2022. "The company will provide market guidance in Q1 2022 following completion of the plan and expects capital expenditures in 2022 to be in the range of USD10 million to USD15 million, including capital development in the underground mine," it says.
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Caracal Gold PLC - gold producer in East Africa - Decides to accelerate implementation of final phase of its' initial three-phase operational plan to further increase gold production and improve efficiencies at its flagship Kilimapesa gold mining and processing operations in Kenya. "The decision to accelerate the third phase development activities at the Kilimapesa Gold Mining and Processing Operations and increase production to approx. 24,000 ounces per annum follows the successful completion of the first two phases of operational improvements and developments since listing in August 2021, and the Board's decision to implement further operational improvements to the mining, processing and administrative aspects of its gold producing operations," company says.
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Xtract Resources PLC - London-based metals and minerals producer - Sees "very satisfactory" drilling results from hole BRDD-021-019 on the Phase 2 diamond drilling programme at the Bushranger copper-gold exploration project. Says it returned wide intervals of copper mineralisation in the northern-central area of the Racecourse inferred mineral resource. Results include 202 metres at 0.27% copper equivalent from 276 metres downhole, including 76 metres at 0.41% copper equivalent from 276 metres.
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Angus Energy PLC - oil & gas development company - Proposes placing to raise up to GBP1.4 million from issue of 175.0 million new shares to "certain institutional investors" at 0.8 pence each. Notes price is 20% discount to Wednesday's closing price. Proceeds to be used for an increased contingency at Saltfleetby, geothermal subsurface and site acquisition work and for general working capital purposes.
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East Star Resources PLC - Kazakhstan-focused gold and copper explorer - Says historical drill results acquired over Southern Shabdar target on the Apmintas Licence in central Kazakhstan "further demonstrates the quality" of the exploration potential. Notes Southwest dipping borehole C-375 intersected 24.9 metres at 2.86 grammes per tonne gold. Chief Executive Alex Walker says: "The shallow, high-grade intersections at Southern Shabdar, repeated over a number of structures, and with demonstrated continuation of the gold mineralisation at depth, provides another high priority target on the Apmintas licence with the potential to form an economic orebody. We are therefore very excited to add the target to our 2022 exploration programme."
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Atalaya Mining PLC - Cyprus-based copper and silver mining and development company - Finds best copper intercept to date from its ongoing resource definition drilling programme at Proyecto Masa Valverde, located in southern Spain. New drill results include 125 metres at 1.19% copper, including high grade intervals of 12 metres at 2.29% copper, 19 metres at 2.56% copper and 15 metres at 2.27% copper. Alberto Lavandeira, chief executive, says: "These new drill results have exceeded our expectations in many ways, most notably in terms of the copper and gold grades, confirming our belief that Proyecto Masa Valverde is one of the best undeveloped polymetallic projects in the Iberian Pyrite Belt and also in Europe."
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By Paul McGowan; paulmcgowan@alliancenews.com
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