(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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4D Pharma PLC - Leeds-based live biotherapeutic products developer - Posts pretax loss of GBP30.3 million in 2020, widening from GBP29.0 million a year prior. Revenue more-than-doubles to GBP534,000 from GBP211,000. Administrative expenses double to GBP9.1 million from GBP4.4 million. "4D has made significant progress leading the field in the development of live biotherapeutics, and made great strides from a corporate perspective. In addition to the data we have generated in the field of oncology, we completed our merger with Longevity and obtained a NASDAQ listing which, together with a concurrent fundraise, provides 4D with approximately USD40 million of additional capital and a solid financial footing moving forward. This puts 4D pharma in a strong position to capitalise on multiple data readouts from our ongoing trials in asthma and oncology as well as facilitating the move into the clinic with our Parkinson's disease programme," says 4D Pharma.
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Sportech PLC - Edinburgh-based gambling technology firm - Posts pretax loss from continuing operations for 2020 of GBP10.6 million, widening 9.3% from GBP9.7 million a year prior. Revenue sinks to GBP20.0 million from GBP33.6 million. "Providing a long-term projection with any degree of certainty in this environment is challenging and unrealistic, however having negotiated several corporate transactions during the last 12 months, when completed, the group will have reduced investors' risk and simplified the structure and the opportunities ahead," says Sportech.
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BSF Enterprise PLC - UK-based company formed to undertake an acquisition - Posts pretax loss of GBP93,845 in the year ended September 30, 2020, narrowed from GBP94,398 a year prior. "In the context of this challenging capital raising environment during this Covid-19 pandemic, I believe that BSF represents an extremely attractive proposition to prospective acquisition counterparties considering listing on the London Stock Exchange and I remain confident that we will be able to execute an acquisition that creates value for our shareholders," says BSF.
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Nippon Active Value Fund PLC - Japan-focused investment firm - Posts net asset value per share at December 30 of 113.58 pence, in its annual report for the period from incorporation on October 22, 2019 to December 30, 2020. NAV per share increases 14% since IPO. Declares inaugural dividend of 0.85p per share. Says it will not target a dividend for future years but will substantially pay out distributable income for any particular period by way of dividend.
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Syncona Ltd - investor in life science companies - Notes results of portfolio company and biotechnology firm Freeline Therapeutics Holdings PLC. Freeline posts pretax loss for 2020 of USD96.2 million, widening from USD53.8 million a year prior. Research & development costs increase to USD76.1 million from USD47.0 million. "We are pleased with our current progress and aim to have three Freeline programs in the clinic by the end of 2021," said Theresa Heggie, Chief Executive Officer of Freeline.
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Horizonte Minerals PLC - nickel company focused on Brazil - Posts pretax loss of GBP2.6 million in 2020, widening 13% from GBP2.3 million a year prior. Administrative expenses increase to GBP2.9 million from GBP2.6 million. Says assets are not generating revenues. Does not declare any dividend in 2020, unchanged from a year prior. "The Covid-19 pandemic was unfortunately not an isolated event in 2020, it has continued in to 2021 and we will continue to feel its effects well into the medium term. However, with the accelerating rollout of a number of vaccines we are hopeful for a more certain, less interrupted year in 2021," says Horizonte.
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Proteome Sciences PLC - drug development services provider - Posts pretax profit of GBP245,000 in 2020, swinging from a loss of GBP36,000 a year before. Revenue increases to GBP4.8 million from GBP4.7 million. Administrative expenses fall 25% to GBP2.0 million from GBP2.7 million. "We have started an internal analysis on growing our business further in addition to our current activities. We believe that with our specialist expertise the market for our niche services has the potential to grow substantially as proteomics plays an increasingly vital role in drug discovery, development and in the response to current and future medical challenges," says Proteome.
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Arbuthnot Banking Group PLC - London-based private and commercial banking - Says subsidiary Arbuthnot Latham completes acquisition of provider of vehicle finance Asset Alliance Group Holdings Ltd. Says the consideration is now anticipated to be approximately GBP10.1 million.
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Stanley Gibbons Group PLC - London-based collectible postage stamp retailer - Says it has seen increased levels of digital activity and remote selling of albums and accessories contrasting with lower levels of high ticket sales and in person activities as a result of the third lockdown throughout the year to March 31. Says second half trading was better than the first. "We are hopeful that a vaccine led relaxing of restrictions is not only permanent but encourages activity levels to return at pace, however, this is hard to predict and we have plans in place if this is not how things develop," says Stanley Gibbons.
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Great Western Mining Corp PLC - mineral exploration and development company with gold, silver and copper assets in the US - Says drilling has start in Nevada to test a prospective copper target and is likely to be followed by a second hole on the same prospect. "This is an exciting moment for the company, being the first time in its history that it has launched a major drilling campaign for precious metals, while a recent fund-raising will enable us to expand the programme where appropriate," says Chair Brian Hall.
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Macfarlane Group PLC - Glasgow-based packaging firm - Announces acquisition of Carters Packaging Ltd in Cornwall. Carters is a distributor of protective packaging in the south-west of England. The acquisition will go for a maximum cash consideration of GBP4.5 million.
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1Spatial PLC - Cambridge-based location data software provider - Announces a multiyear contract with Defra to provide a managed service for Rural Payments Agency's Customer Portal and Land Management System. The total potential contract value over five years for 1Spatial is in excess of GBP900,000. The first three years will net the company GBP600,000, or GBP200,000 a year, while Defra has an option to extend for a further two years for GBP300,000.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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