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(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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Polarean Imaging PLC - medical imaging products developer - Says US Food & Drug Administration approves company's new drug application. "FDA acceptance for the filing of Polarean's NDA represents another important step forward for the Company's platform. If approved, Polarean's drug-device technology could provide a new diagnostic option for patients with pulmonary disease," Chief Executive Officer Richard Hullihen says. Polarean adds that Chief Operating Officer Ken West plans to retire as employee of company but to stay involved as a consultant before transitioning to non-executive role.
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Amryt Pharma PLC - pharmaceutical company - Gets US FDA orphan drug designation for AP103 to treat, a skin condition. "Receiving an orphan drug designation from the FDA for our gene-therapy candidate, AP103, is a significant development for patients suffering from EB and provides additional momentum to our development pipeline," Amryt Chief Executive Officer Joe Wiley says.
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Avacta Group PLC - Wetherby, England-based pre-clinical stage biotechnology company - Submits UK clinical trial application for Phase 1 study of AVA6000 in sufferers of locally advanced or metastatic selected solid tumours. "The planned phase I study is a first-in-human, open-label, multi-centre study to be carried out in the UK in patients with locally advanced or metastatic solid tumours which are known to be FAP positive including pancreatic, colorectal, breast, ovarian, bladder and non-small cell lung cancers, squamous cell carcinoma of the head and neck and soft-tissue sarcoma," Avacta adds.
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Open Orphan PLC - pharmaceutical services contract research organisation - Says 63%-owned investee PrEP Biopharm Ltd completes phase IIb study to assess efficacy of PrEP-001 against respiratory viruses like Covid-19. "It is very encouraging to note PrEP Biopharm's progress towards the ultimate goal of validating the effectiveness of their one dosage nasal spray for key respiratory viruses like COVID-19, flu and the common cold. This safety data allows them to move into Phase 2b field studies and we are very excited that PrEP-001 could play a meaningful role in the current COVID-19 pandemic and future potential pandemics caused by new respiratory viruses," Executive Chair Cathal Friel says.
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Integrated Diagnostics Holdings PLC - consumer healthcare firm with operations in Egypt, Jordan, Sudan, and Nigeria - Says all resolutions at extraordinary general meeting passed, meaning with effect Thursday, share capital subdivision becomes effective. Share capital will now comprise of 600.0 million shares.
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Totally PLC - healthcare services provider in UK and Ireland - Says South West London NHS 111 service, operated by Totally unit Vocare Group, rated 'Good' by UK's Care Quality Commission. "Following the rerating, Totally is pleased to confirm that all its CQC registered services across the group are now rated 'Good' overall," Totally adds.
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Gooch & Housego PLC - Somerset-based optical components and systems maker - Says photonic systems, which uses Gooch's technology, successfully launched into orbit by Japan.
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Gresham Technologies PLC - London-based software and services company that specialises in providing real-time data integrity and control solutions - Wins new deal with Clareti platform. Says "one of the world's largest banking groups" signs subscription software license for Clareti deployment with fees of USD1.9 million over five-year term. Due to new pact, Gresham expects adjusted earnings before interest, tax, depreciation and amortisation for current financial year to be ahead of GBP4.1 million analyst forecasts.
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SEEEN PLC - London-based social media technology firm - Says multichannel network business continuing to bounce from Covid-hit. Says revenue and pretax profit for 2020 to be in-line with expectations. Says Senior Independent Director Akiko Mikumo appointed as executive vice chair.
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Sureserve Group PLC - asset and energy support services firm - Corrects reports that stated subsidiary Aaron Services won energy efficiency contracts worth between GBP100 million and GBP500 million. "The company wishes to clarify that whilst Aaron Services have been successful in being added to a number of framework agreements and although there is no guarantee of any future work, the value of the future work which Aaron Services would expect to be awarded is in the order of hundreds of thousands of pounds and not several millions," Sureserve says.
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MelodyVR Group PLC - London-based virtual reality content - To launch in Singapore in partnership with Singtel Group, a communications technology firm which has more than 700 million users in 21 countries.
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Ideagen PLC - Nottinghamshire-based information management software for regulated industries - Acquires Harmony UK Holdings Ltd, also known as Huddle, for GBP28.1 million. "Harmony is a leading provider of SaaS solutions to a number of highly regulated sectors including UK and US government, healthcare and accountancy. Harmony is known in the marketplace by its product name Huddle," Ideagen says. Huddle to add about GBP3.5 million in Ebitda for Ideagen in first full-year of ownership.
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Immotion Group PLC - entertainment and educational virtual reality firm - Says revenue has "steadily" increased recently, despite Covid-19. "The group launched Let's Explore Oceans in mid-October and total group revenue for October was GBP369,000 and November was GBP573,000, an increase of 21%, and 87% respectively compared to September," Immotion adds.
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Avation PLC - London-based aircraft leasing company - Says results in year ended June 30 were "satisfactory". Lease revenue rose 14% to USD135.3 million and it generated USD14.7 million in pretax profit. "Debtor collection has been challenging during the year due to the severe disruption to airline cashflows and Avation has had to monitor and work closely with airlines to ensure operational cashflow is maintain," company says. "COVID-19 continues dominate the industry and Avation expects there will be some continuing work to do to support airlines as the challenges facing the sector will remain for an extended period even with the successful roll out of vaccines for COVID-19 commencing around the world."
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Kin & Carta PLC - business consultancy firm - Acquires Cascade Data Labs LLC, a transformation consultancy firm based in Portland, Oregon for USD6.9 million with further USD2.2 million on potential performance-based consideration. "Cascade offers end-to-end data transformation expertise across all of the interrelated disciplines required to drive business value, including data integration, data governance, data engineering, data science and data visualisation," company says.
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Yew Grove REIT PLC - real estate investment trust focused on Irish commercial property - Agrees EUR53.6 million loan facility with Allied Irish Banks PLC, replacing a EUR49.1 million loan and extends maturity by three years to December 2024.
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Standard Life Investments Property Income Trust PLC - property investor - Completes "several sales", largest being the disposal of four mulit-let industrial assets for GBP37.8 million, broadly in-line with valuation.
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Randall & Quilter Investment Holdings Ltd - Bermuda-based firm focused on non-life legacy insurance and program management - Buys Marillac Insurance Co Ltd, Cayman captive insurer of Verity Health System of California Inc. "R&Q will pay USD2.3 million to acquire 100% of the equity in Marillac, in addition to other non-cash consideration," Randall says.
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Manx Financial Group PLC - Isle of Man-based financial services firm - Announces plans for inaugural dividend. Outlines dividend scheme meaning eligible shareholders can elect to be issued new shares or get a cash payout. Dividend amount to be based on post-tax profit for year ending 2020. "The script option will enable eligible shareholders to increase their holding in the company in a simple, cost-effective way, by receiving new shares instead of cash. This will also allow the company to retain the cash in the business that would otherwise be paid as a dividend, aiding further growth," Manx adds.
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Mercantile Investment Trust PLC - investment trust focused on UK medium and smaller sized firms - Enters into two-year GBP100 million revolving credit facility with London Branch of The Bank of Nova Scotia. "This facility is in addition to the existing GBP178.85 million (at par value) of long dated debt instruments already in issue by the Company and will be used to provide portfolio gearing," Mercantile says.
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Draper Esprit PLC - investor in digital technology firms - Alternative investment fund manager Esprit Capital Partners LLP to give up use of EuVECA designation under the European Venture Capital Funds Regulation. "One of the principal advantages of the EuVECA Regulation is that it offers an EU-wide marketing passport to certain managers of venture capital funds. As a full-scope AIFM, ECP is able to avail itself of the Alternative Investment Fund Managers Directive marketing passport rights and therefore no longer needs to take advantage of the EuVECA marketing regime," Draper Esprit says.
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Blue Star Capital PLC - investment company with a focus on esports, payments, technology and its applications within media and gaming - Updates on esports portfolio. Says based on valuation of newly-listed Guild Esports PLC and higher valuation of Dynasty eSports Pte Ltd means esports Blue Star's portfolio valued at GBP3.7 million, showing unrealised gain of GBP2.0 million. Also notes Fibresources Corp has not acquired investee The Drops and Diemens, another Blue Star investee, did not complete planned merger with Critical Hit Entertainment PTY Ltd.
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Ecofin US Renewables Infrastructure Trust PLC - invests in US renewable energy assets - Acquires two out of four previously outlined seed investments for USD10.9 million. Buys 100% interest in 4.8 megawatt commercial rooftop solar project in California and takes sole ownership of 7.1 megawatt ground-mount solar project in Massachusetts.
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Gunsynd PLC - investment company focused on the natural resources sector - Says Angold Resources Ltd completes acquisition of Federal Gold Corp. Gunsynd invested GBP58,000 in Angold, company said back in September.
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Bluejay Mining PLC - exploration and development resource company with projects in Greenland and Finland - Agrees distribution pact with "Asian conglomerate" to sell 340,000 tonnes of ilmenite from Bluejay's Dundas project.
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Zenith Energy Ltd - independent oil & gas company with production, exploration and development assets in Africa and Italy - Receives confirmation from Ministry of Hydrocarbons of the Republic of the Congo that its unit Zenith Energy Congo SA selected as winning bidder for award of 25-year Tilapia oilfield licence.
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Hummingbird Resources PLC - African gold producer - Extends drilling of Sanioumale East at Yanfolila asset, Mali due to "new zones of mineralisation intersected and the improved grade continuing at depth".
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Kavango Resources PLC - exploration company targeting mineral deposits in Botswana - Says portable XRF analysis completed on 335 soil samples at Ghanzi project, Kalahari copper belt Botswana. Says "encouraging concentrations of zinc identified". Project area includes two prospecting licences held in joint-venture with London-listed Power Metal Resources PLC. Power Metal Chief Executive Paul Johnson said: "I am delighted to report very positive initial exploration findings from the KCB, with the soil sampling results highlighting target areas, in very similar geological settings to other material copper/silver discoveries, made in neighbouring projects in recent years."
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Rambler Metals & Mining PLC - Canada-focused copper and gold producer, explorer, and developer - Signs further non-binding letter of intent with Maritime Resources Corp for sale of Rambler's existing gold circuit at the Nugget Pond facility as well as a number of other Canada exploration properties. "Maritime will pay USD2.0 million in cash and CAD500,000 in common shares of Maritime based on the 30-day volume weighted average price on closing," Rambler adds.
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Arc Minerals Ltd - exploration company focussed on exploring for copper and cobalt in Africa - Says repayment for remaining convertible loan notes extended by 12 months to December 31, 2021. "The remainder of the terms including those governing convertibility and interest remain unchanged. The Company drew down USD1.7 million from the CLN facility and the balance of the CLN outstanding is approximately USD274,000, which is convertible into ordinary shares of the company at 4.5 pence per share," Arc adds.
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Powerhouse Energy Group PLC - Bingley, West Yorkshire-based hydrogen production from waste plastic - Notes recent share price increase but confirms "that there are no new material developments".
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By Eric Cunha; ericcunha@alliancenews.com
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