(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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Scirocco Energy PLC - Leeds, England-based oil & gas investment company - Says Greenan Generation Ltd, which is owned by Energy Acquisitions Group Ltd in which Scirocco holds a 50% interest, receives GBP300,352 in revenue for the last quarter of 2021, up from GBP232,968 a year prior. Increases expected annual earnings before interest, tax, depreciation and amortisation to GBP600,000 from GBP470,000 - at current energy prices. "We are delighted to see excellent operational performance supported by the current high wholesale power prices. Energy Acquisitions Group experienced team have begun investing to automate and future proof the asset and are making clear headway with an attractive pipeline of opportunities to support further investment. Scirocco's 50% interest in EAG represents a robust, scalable platform primed for growth and we look forward to working with the team going forward," says Chief Executive Tom Reynolds.
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Tekcapital PLC - intellectual property investor focused on university technology - Says portfolio company Lucyd's, an Innovative Eyewear Inc subsidiary, has been approved by Dick's Sporting Goods to provide its Lucyd Lyte smart eyewear on dickssportinggoods.com and by BestBuy.ca. Dick's Sporting Goods is a sporting goods retailer in the US and Best Buy is an electronics retailer in North America.
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MetalNRG PLC - London-based investor in natural resources and energy - Updates on Eqtec Italia MDC SRL investment. Says, once operational, Italia MDC is expected to generate annual plant revenue of around EUR2.0 million with plant Ebitda of about EUR750,000. Company currently owns 26.6% of Italia MDC.
Says separately, it will issue up to GBP200,000 of convertible loan notes to Global Investment Strategy UK Ltd. The notes are fixed rate, unsecured loan notes carrying a simple, non-compounding interest rate of 10% per annum.
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Griffin Mining Ltd - operator of the Caijiaying zinc-gold mine in China - Appoints John Steel, the current mine manager of Caiijiaying mine, as chief operating officer of the company, effected Wednesday. "John has extensive global mining experience including over a decade of in site operational expertise with tier one companies in Australia, Canada and the Middle East. John also has extensive supplier side experience holding country Managing Director positions in Norway as well as general manger positions with several explosive and technology service providers within Australia," company says.
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Open Orphan PLC - London-based pharmaceutical services company - Announces results from Covid-19 characterisation study. Results show that a SARS-CoV-2 human challenge is safe in healthy young adults and provide detailed insights into the course of COVID-19 infection with potential positive public health implications. Study aimed to identify a dose of COVID-19 that caused a safe and reliable infection in unvaccinated volunteers with no prior SARS-CoV-2 infection. Study involved 36 healthy male and female volunteers aged 18-29 years which were infected with the original SARS-CoV-2 strain challenge virus. No serious adverse events occurred and "the SARS-CoV-2 human challenge study model was shown to be safe and well tolerated in healthy young adults".
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Alpha Growth PLC - London-based financial advisory specialising in 'longevity assets' such as life insurance - Announces 2021 results for its BlackOak Alpha Growth Fund investing in senior life settlements. Says the fund sees significant positive inflows of investment, doubling its assets under management to USD45 million from USD22 million a year prior. Fund produced a total return of 18.9%. "We continue to go from strength to strength and have received a very positive reception by investors that look for consistent and uncorrelated returns and yield over multi-year periods. We continue to build our portfolio of SLS into a well-diversified pool of policies and remain focused on investing in quality SLS to meet our investment objectives on behalf of our investors," says Chief Operating Officer Danny Swick.
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UK SPAC PLC - cash shell formerly known as Mountfield Group - Says acquisition of medical cannabis producer Hellenic Dynamics SA is progressing "satisfactorily". Adds, however, "there can be no certainty that the acquisition will complete".
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abrdn European Logistics Income PLC - European-focused logistics real estate investor - Raises GBP38 million via placing and retail offer. "Despite the recent market volatility, we are pleased to welcome a number of new shareholders to the register, in addition to support from our existing shareholders. The company has made significant progress since September 2021, raising EUR192 million across two equity issues and acquiring the last-mile logistics portfolio in Madrid for EUR227 million. The investment manager's near-term pipeline remains strong and we look forward to updating investors on these new acquisitions in the coming months," Chair Tony Roper says.
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Cadence Minerals PLC - London-based investor in mineral resources - Announces placing to raise GBP3.5 million via share placing to new and existing investors at an issue price of 20.5 pence per share. Placing price is a 17% discount to the closing price of 24.75 pence per share on Monday. Intends to use the net proceeds to invest further in the Amapa iron ore project, increasing its stake to 27%, as announced early December.
Notes separately that Hastings Technology Metals, the company's joint venture partner at the Yangibana rare earth project in Australia, has announced that it has received approvals for a significant portion of the debt package required to fund construction of the Yangibana.
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NetScientific PLC - London-based life sciences and sustainability, technology investment and commercialisation firm - Updates on portfolio company PDS Biotechnology Corp. Says PDS's Versatile-002 Phase 2 study for the treatment of advanced human papillomavirus-associated head and neck cancer achieved its preliminary objective response benchmarks. The trial, which studies PDS0101 in combination with Merck & Co Inc's anti-PD-1 therapy Keytruda, or pembrolizumab, will now progress to full enrolment of 54 patients in this group of checkpoint inhibitor naïve patients.
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Chesnara PLC - Preston, England-based pensions and life insurance firm - Prices its GBP200 million tier 2 subordinated notes. Notes will have a 10.5 year maturity and a coupon of 4.75%. Proceeds will be used for general corporate purposes, including investments and acquisitions.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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