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TRADING UPDATES: Smithson assets grow; FireAngel delivers milestone

Wed, 02nd Nov 2022 19:17

(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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TI Fluid Systems PLC - Oxford-based manufacturer and supplier of automotive fluid storage, carrying and delivery systems - Hires Alexander Bock as new chief financial officer. He will succeed Ronald Hundzinski who will be retiring. Bock will join no later than May 1, 2023.

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FireAngel Safety Technology Group PLC - Coventry-based home safety products maker - Delivers the third development milestone for its deal with Techem Energy Services GmbH for the development of a new generation smoke alarm, primarily for the German market. The third milestone saw the delivery of a fully featured product development board, which allows for design verification and testing to be conducted on all product functions prior to committing to the first product representative build. "The transformational partnership with Techem continues to be of long-term value and of significance for FireAngel and its stakeholders. We are pleased to announce the successful delivery of the third milestone following the formal signing of DP2," Executive Chair John Conoley comments.

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Shanta Gold Ltd - Guernsey-based east Africa-focused gold producer, developer and explorer - Identifies "encouraging" drilling intersections at its New Luika gold mine in Tanzania. They are related to drilling conducted in the second half of 2022. "I am pleased to announce that we continue to deliver encouraging drilling results at New Luika, adding to the exploration success that we have had around the wider portfolio this year. These results give us confidence that the reserve-based mine life at New Luika will continue to be extended beyond its current timeline of H1 2027," Chief Executive Eric Zurrin says.

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Sound Energy PLC - Morocco-focused upstream gas company - Confirms that its wholly owned subsidiary Sound Energy Morocco SARL AU has challenged the Moroccan Court about the tax assessments levied against SEMS. Says the filing has been made within the required period of 60 days from the date of notification of the local tax committee decision. Remains of the opinion that the assessments levied against SEMS that certain purported historical intra group transactions between SEMS and Sound Energy Morocco East Ltd have taxable bases, has been wrongly interpreted by the Moroccan tax administration. In totends to engage constructively with the authorities. Plans to continue to defend its rights through the court and will also continue to do so in the event that the Moroccan tax authority does not withdraw the assessments levied against SEMS.

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Capital Ltd - Mauritius-based mining company - Appoints Rick Robson as chief financial officer following the departure of Giles Everist. Robson has been a member of Capital's senior management team since 2019 and is currently head of corporate development & CFO of MSALABS. He will take on the role on January 1, 2023.

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Riverstone Credit Opportunities Income PLC - energy infrastructure and energy-transition credit investor - Declares a dividend of 2.0 US cents per share for its third quarter, in line with its dividend target. "The strong realised dividend for Q3 was supported by exceptional cash generation activity driven by a supportive market environment for the company's 100% floating rate portfolio and a robust list of attractive realisations. This meant actual net revenue profit for the quarter comprised USD1.8 million or 2.0 cents per share," Chair Reuben Jeffery comments.

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ThomasLloyd Energy Impact Trust PLC - London-based Asia-focused renewable energy investment trust - Signs a USD30.0 million investment agreement with Solar Electric Vietnam. As the first transaction in this new partnership, it enter into an agreement to acquire Viet Solar System Company Ltd, a privately-owned company which holds 6.12 MWp of rooftop solar assets. Has deployed more than 86% of its net IPO proceeds.

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Angle PLC - Surrey, England-based medical diagnostics company - Notes that a study from the University of Texas shows that circulating tumour cells isolated by Parsortix can be analysed with downstream techniques. The study provided data to support the De Novo Class II Classification application for its Parsortix system for use in harvesting cancer cells from metastatic breast cancer patient blood for subsequent, user-validated analysis, it says.

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Seed Innovations Ltd - Guernsey based wellness and life sciences company - Says investee LGP gets firm commitments for a AUD4 million, or GBP2.2 million, placement from new and existing institutional and sophisticated investors. Adds that it received commitments for a further AUD200,000 from LGP's board and executive. Business also launches a share purchase plan offer for eligible existing shareholders. "With further funds now in place to support this growth, LGP can focus on its aim to achieve break-even while continuing on expanding its Australian and European sales channels," SEED CEO Ed McDermott comments.

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Smithson Investment Trust PLC - investment trust - Net asset value per share as at October 31 stands at 1,382.78p, up versus 1,339.5p as at June 30.

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By Abby Amoakuh; abbyamoakuh@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
12 Jun 2023 09:05

IN BRIEF: Seed Innovations cannabis investee gains MHRA accreditation

Seed Innovations Ltd - Guernsey-based investment company focused on medical cannabis, health and wellness sector - Says portfolio company Northern Leaf Ltd, a Jersey-based medical cannabis producer, has been awarded Good Manufacturing Practices accreditation from the UK Medicines & Healthcare Products Regulatory Agency. Accreditation is for company's flower product as an active pharmaceutical ingredient. Seed Innovations says this is "a key regulatory milestone for the company to export its products to the European Union". It owns 1.2 million shares in Northern Leaf, or 2.2% of its share capital.

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1 Jun 2023 11:09

Seed Innovations investee company Little Green Pharma sees growth

(Alliance News) - Seed Innovations Ltd on Thursday said its portfolio company Little Green Pharma Ltd posted a surge in revenue as its loss narrowed.

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17 May 2023 15:31

IN BRIEF: Seed Innovations investee company expands in Italy

Seed Innovations Ltd - AIM-listed investor in the medical cannabis, health, and wellness space - Notes announcement from investee company Avextra AG. Avextra says it has successfully exported EU-GMP standardised cannabis extracts manufactured at its German facility to its distribution partner in Italy. Avextra is a German-based, vertically integrated medical cannabis company. Seed holds a 6.6% stake in Avextra, valued at GBP4.4 million as at September 30.

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9 May 2023 16:49

IN BRIEF: Seed Innovations notes portfolio firm's shares suspension

Seed Innovations Ltd - AIM-listed investor in the medical cannabis, health, and wellness space - Notes the suspension of trading of its portfolio company Yooma Wellness Inc's common shares on the Canadian Securities Exchange and on Aquis. Says Yooma anticipates completing annual filings on or before July 15 and for share suspension to be lifted shortly after. Says Seed currently carries its investment in Yooma at GBP43,000 and expects to write this down to nothing on publication of the annual accounts for the financial year that ended March 31. Also notes portfolio firm Little Green Pharma wins extended French government tender, being appointed a primary CBD oil manufacturer for third year of an extended national French medicinal cannabis trial.

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27 Apr 2023 17:02

TRADING UPDATES: Ceiba net asset value down, up for Asia Dragon Trust

(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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24 Apr 2023 19:21

TRADING UPDATES: acccesso buys firm, Card Factory ups outlook

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

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20 Apr 2023 12:15

Seed Innovations sells South West Brands to OTO for GBP2.6 million

(Alliance News) - Seed Innovations Ltd said on Thursdsay its portfolio company South West Brands Ltd has entered into a sale and purchase agreement with OTO International Ltd.

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17 Apr 2023 17:43

TRADING UPDATES: Eqtec enters deal; Fulcrum buys 42 mining claims

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

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11 Apr 2023 12:23

Seed Innovations completes sale of Leap Gaming

(Sharecast News) - Seed Innovations announced the completion of the sale of its portfolio company Fralis, also known as Leap Gaming, to IMG Arena US on Tuesday.

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11 Apr 2023 12:23

Seed Innovations completes sale of Leap Gaming

(Sharecast News) - Seed Innovations announced the completion of the sale of its portfolio company Fralis, also known as Leap Gaming, to IMG Arena US on Tuesday.

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11 Apr 2023 10:47

IN BRIEF: Seed Innovations completes sale of Leap Gaming

Seed Innovations Ltd - AIM-listed investor in the medical cannabis, health, and wellness space - Confirms completion of the sale of portfolio company Fralis LLC, which trades as Leap Gaming. Expects the second tranche of sale proceeds of EUR2.8 million to be received in April next year. Intends to use the proceeds received for making further investments.

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24 Mar 2023 14:16

IN BRIEF: Seed Innovations says portfolio firm completes placement

Seed Innovations Ltd - AIM-listed investor in the medical cannabis, health, and wellness space - Says its portfolio firm Little Green Pharma Ltd has completed a placement worth USD5 million from from new and existing investors. Says the funds will be used to repay balance of loan note with Canopy Growth Corp and for working capital and costs of offer. Little Green Pharma says, under the placement, it will issue new shared at USD0.18 per share, representing a 5.3% discount to the last price of USD0.19 per share on Tuesday.

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15 Mar 2023 16:41

TRADING UPDATES: Foresight Solar Fund NAV up in 2022, raises dividend

(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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21 Feb 2023 15:54

IN BRIEF: Seed Innovations discusses convertible loan note repayment

Seed Innovations Ltd - AIM-listed investor in the medical cannabis, health, and wellness space - Says it is in discussions with its portfolio company South West Brands, with Seed requesting full repayment as the convertible loan note it provided South West Brands in October 2021 has matured. At this time, Seed made a GBP150,000 investment in South West Brands via a 12-month, 8% CLN maturing in October last year. This was extended until mid-January, as announced in mid-November. In total, Seed says it has GBP500,000 invested via several CLNs valued at GBP543,000 as at September 30.

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15 Feb 2023 19:27

Seed Innovations highlights ethics approval at Little Green Pharma

(Alliance News) - Seed Innovations Ltd highlighted on Monday progress for an anti-depressant therapy by a firm in which it holds a significant stake.

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