(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Power Metal Resources PLC - exploration company seeking metal discoveries in the US, Australia and Africa - Completes uranium exploration project at Athabasca Basin in northern Saskatchewan, Canada. A total of 20 rock samples were collected, with all samples now submitted for rush-assay analysis. An additional 1,129-hectare land claim was staked to provide further coverage over several uranium-rich lakes surrounding the company's Tait Hill uranium property.
Chief Executive Paul Johnson comments: "We started this campaign several months ago with the initial staking of our land package surrounding the prolific Athabasca Basin located in Northern Saskatchewan, and continue to build our uranium exploration project portfolio there, as you will see with the new ground secured today. Field observations from Phase I exploration are encouraging and we look forward to the receipt of assay results."
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Ten Lifestyle Group PLC - London-based concierge platform - Wins second contract with DNB Bank ASA, the largest financial services group in Norway. The contract will see the group taking over the provision of concierge services to selected private banking customers from the incumbent supplier and launch its digital services in the spring. This is expected to double the size of its existing contract, Ten Lifestyle explains.
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East Imperial PLC - premium mixers maker - Names SUTL Group as company's exclusive distribution partner in Singapore. SUTL will supply East Imperial's entire range, including bottles and its newly launched can format, throughout Singapore. East Imperial claims to already be an established brand within Singapore with its mixers available across hotels and restaurants. "The appointment of SUTL is in line with East's Imperial's strategy to accelerate its growth in the off-trade market where distribution partners play an important role", the company says.
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Pennon Group PLC - Exeter-based water utility - Competition & Markets Authority will not refer merger inquiry into Pennon's acquisition of Bristol Water to a Phase 2 investigation under the provisions of the Enterprise Act 2002. Regulator is looking into whether the merger of the two firms is "likely to prejudice Ofwat's ability, in carrying out its functions, to make comparisons between water enterprises". The CMA says it is still considering whether to refer the merger for a Phase 2 investigation under the separate provisions of the Water Industry Act 1991.
Back in June, the UK CMA slapped Pennon with an initial enforcement order over the potential deal and vowed to examine whether the takeover would result in a "substantial lessening of competition". Pennon bought neighbour Bristol Water earlier in June for an equity value of GBP425 million and enterprise value, including debt, of GBP814 million.
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Taseko Mines Ltd - British Columbia, Canada-based copper producer - On Thursday reports third quarter revenue of CAD132.6 million or around USD106.7 million, 66% higher annually from CAD87.8 million. Adjusted earnings before interest, tax, depreciation and amortisation are CAD76.3 million, more than double CAD31.5 million a year prior. Notes it expects strong fourth quarter, with annual copper production forecast to be in line with the previous guidance at around 120 million pounds of copper. Taseko says Gibraltar pit in British Columbia started producing ore in third quarter, supplementing existing output. Says the copper price outlook into 2022 remains quite favourable with many governments now focusing on "increased infrastructure investment to stimulate economic recovery after the pandemic".
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Berkeley Energia Ltd - Hatfield, England-based investor in gas production and electricity generation projects - Served with a writ for proceedings in the Supreme Court of Victoria at the Melbourne Commercial Court. The move follows announcement on Tuesday that Berkeley had received a claim from Singapore Mining Acquisition Co Pte Ltd in relation to the investment agreement and convertible note entered into in 2017. The claim alleges that the principle amount of USD65 million of the convertible note is immediately payable by Berkeley due to allegations that the investment agreement and convertible note have been frustrated, repudiated and or an event of default has occurred. Berkeley disputes the allegations and claim made by Singapore Mining Acquisition and says it is currently seeking legal advice in relation to the matter. On Tuesday, trading in Berkeley's shares was halted on the Australian Securities Exchange after the company received the claim. Trading in the company's shares continue as normal on the London and Spanish exchanges.
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eve Sleep PLC - London-headquartered sleep wellness brand - Says a collection of six eve branded CBD drops in different flavours have gone live on its website. eve says it is also currently in discussions with a number of store based retailers which are interested in stocking the eve CBD oil range. Also extends its range of sleep gifting and wellness products in recent weeks, including its non-alcoholic plant based three spirit nightcap drink and a selection of rescue remedy products designed to aid sleep.
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Equiniti Group PLC - London-based financial administration outsourcer - Says New York State Department of Financial Services backs proposed takeover by technology-focused private equity firm Siris Capital. In May, Equiniti had agreed to be taken over by Siris in a deal worth GBP673 million. New-York based Siris has since been reviewing the state of the Equiniti business. Approval from the UK's Financial Conduct Authority for the takeover was received on Thursday.
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Nanoco Group PLC - Manchester-based quantum dots developer - Awarded third work package as part of contract with unnamed European electronics customer to upgrade its existing technology. Highlights that the contract upgrade will support its revenue expectations for financial year 2022, which are consistent with the GBP2.0 million of revenue generated the previous year. The revenue from the third work package will contribute to the group's performance in the first half of financial year 2022, Nanoco notes.
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SimiGon Ltd - Florida-based training and simulation technologies developer - Notes DD Goldstein Real Estates and Investment filed a claim against SimiGon in connection with its ongoing appeal. The appeal forms part of legal claims made by an investor at the Tel Aviv District Court. In January, DD Goldstein Real Estates filed two claims in the court, the first regarding salaries at SimiGon and the second related to the appointment of directors at the London-listed firm's annual general meeting in December. The real estate group purchased 1.5 million shares in SimiGon during 2019. SimiGon says it is studying the claim and will respond to court. The company maintains that it does not expect to take a financial hit from the claims.
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By Will Paige; willpaige@alliancenews.com
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