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TRADING UPDATES: Jardine Matheson net assets rise, Oberon loss widens

Fri, 28th Jul 2023 16:34

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

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Jardine Matheson Holdings Ltd - Hong Kong-based holding company with interests in retail, property, hotels and motor dealerships - Net asset value per share at June 30 rises to USD100.01 from USD99.47 a year earlier. First half gross revenue falls to USD54.78 billion from USD55.99 billion a year earlier, while pretax profit falls to USD1.96 billion from USD2.10 billion. Interim dividend rises to 60 US cents from 55 cents. Executive Chair Ben Keswick says: "The group delivered a strong overall performance in the first half of 2023, as the business continued its post-pandemic recovery, with overall results exceeding pre-Covid levels seen in 2019...We are encouraged by the results from most of our businesses in the first half and are optimistic that earnings growth will continue in the remainder of the year. The group has a strong balance sheet and will continue to focus on opportunities in its core, growing markets in Asia, to create sustainable long-term growth."

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Oberon Investments Group PLC - investment management, wealth planning and corporate broking group - In the financial year that ended March 31, pretax loss widens to GBP3.9 million from GBP580,814 a year earlier. Turnover falls to GBP5.0 million from GBP6.7 million, while administrative expenses rise to GBP8.7 million from GBP7.5 million. Says it has been a year of investment for the company. Looking ahead, says: "We remain aware of the challenges of a stressed macro-economic environment and all the challenges the UK faces in a period of high inflation and rising interest rates, but we view the Oberon businesses as extremely well-positioned to grow in any market conditions and has the right team and strategy to deliver for shareholders and employees and other stakeholders in 2023 and beyond."

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DP Poland - London-based operator of Domino's pizza stores and restaurants in Poland and Croatia - Non-Executive Director Andrew Rennie to resign with effect from October 1 after his appointment as chief executive officer at Domino's Pizza Group PLC from August 1. Begins a process to identify a replacement non-executive director. As part of his resignation, says the board have agreed Rennie will no longer subscribe for 3.2 milllion second subscription shares, as planned following the acquisition of All About Pizza DOO in July last year. Says Rennie will "remain a committed and supportive shareholder in respect of his current 2% shareholding in the company".

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UniVision Engineering Ltd - Hong Kong-based company that supplies, designs, installs and maintains closed-circuit television and surveillance systems, and also sells security-related products - Receives petition brought by one of its subcontractors KML Engineering Ltd in the High Court in Hong Kong regarding Univision's outstanding debt of HKD2.1 million, or GBP209,863, to KML. KML wishes for UniVision to be wound up as a result. A hearing has been set for September 27. Univision says it continues to negotiate with KML and will defend and oppose the petition. Also notes previous announcement and says it remains in negotiations with potential investors who are looking to make a substantial investment in the company. If a substantial investment was to occur, UniVision says it is confident it will be able to meet the petition, "should this be necessary". Says further announcements will be made "if and when appropriate".

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Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development, and production company - Assumes operatorship of licence PEDL343, which holds the Cloughton gas discovery, from Egdon Resources PLC. This follows approval from industry regulator the UK North Sea Transition Authority, effective from Thursday. Egdon also notes transfer of operatorship, which is "part of a process of ensuring that Egdon prioritises core projects whilst ensuring other potentially high value opportunities are progressed at pace". Partners in PEDL343 are now Europa at 40%, Egdon at 40% and Petrichor at 20%. Europa Oil & Gas says the Cloughton field was discovered in 1986 and encountered gas throughout the Carboniferous section. Notes the well tested at rates of up to 40,000 standard cubic feet per day on natural flow. Says: "however, with the right completion and production optimisation techniques, the company believes that a well could flow at 6 million standard cubic feet per day." Chief Executive Officer Will Holland says: "The Europa technical team is now working through the subsurface data to calculate a range of probabilistic recoverable gas volumes and will produce a conceptual development plan for the field, which we believe will demonstrate the material potential value of the licence. There is undoubtedly a significant volume of gas within the structure, which could be brought online relatively quickly and would displace imported gas volumes."

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Live Co Group PLC - Says while "good progress" is being made with its 2022 annual results, these accounts will not be published by Monday next week as previously indicated. Says it will update investors in due course. Last month, Live Co appointed MHA MacIntyre Hudson, part of Baker Tilly International, as its new auditors. At the time, it said that whilst the preparation of its 2022 financial statements have been ongoing, the accounts were unlikely to be published by June 30, as required by the AIM listing rules. Accordingly, the company shares were suspended from early July.

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Science in Sport PLC - London-based performance nutrition firm - Says 45% of shareholders reject annual general meeting resolution on receiving 2022 financial accounts. Meanwhile, 33% reject vote on authorisation to allot shares, 40% reject proposal on non-pre-emptive share issues and 41% reject vote on issuing shares for cash for capital investment. Science in Sport says the latter two votes did not pass as special resolutions. Says the board will engage in discussions "with certain of its major shareholders to better understand their views".

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nanosynth group PLC - London-based company specialising in the synthesis and application of nanoparticles to create new and improve existing products - Says Chief Executive Officer Mark Duffin resigns with immediate effect. Says Gareth Cave will succeed Duffin as CEO while the company continues to consider potential funding options for the business. Trading of its shares on AIM remain suspended. Says furtehr announcements will be made "in due course as appropriate". Last month, nanosynth said it would be unable to publish its 2022 results by June 30, the deadline under AIM rules. As a result, shares remained suspended.

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By Greg Rosenvinge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
6 Mar 2024 13:44

Science in Sport shifts operating model to focus of profitability

(Sharecast News) - Performance nutrition company Science in Sport updated the market on a significant shift in its operating model on Wednesday, following a comprehensive business review.

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6 Mar 2024 13:21

Science in Sport annual revenue dips on lower trading

(Alliance News) - Science in Sport PLC on Wednesday said it delivered earnings in 2023 despite a slight decrease in annual revenue.

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5 Jan 2024 09:07

IN BRIEF: Science in Sport executive chair buys first million shares

Science in Sport PLC - London-based performance nutrition product - Executive Chair Dan Wright buys 1.0 million shares via family investment firm Gomrath Ltd at 11 pence each, worth GBP110,000, on Tuesday. The shares are Wright's only holding. He became non-executive chair in mid-October and then moved to executive chair upon the departure of Stephen Moon as chief executive officer a few days later. Additionally, Lombard Odier Asset Management (Europe) Ltd buys 9.7 million Science in Sport shares, also at 11p, worth GBP1.1 million, on Tuesday and Wednesday. Lombard Odier now has 46.9 million shares, a 25.8% stake. The asset manager is represented on the Science in Sport board by Non-Executive Director Henry Turcan.

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19 Oct 2023 11:48

IN BRIEF: Science in Sport CEO steps down with immediate effect

Science in Sport PLC - London-based performance nutrition firm - Chief Executive Officer Stephen Moon steps down with immediate effect, remaining employed and on garden leave during his notice period. Chair Dan Wright has been appointed executive chair. Wright says: "We would like to thank Stephen for the role he has played with the company for over a decade. He has been instrumental in Science in Sport and PhD becoming leading sports nutrition brands, culminating in the completion of the world-class supply chain facility in Blackburn that is pivotal for the next phase of profitable growth."

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16 Oct 2023 15:01

IN BRIEF: Science in Sport confirms Dan Wright as new chair

Science in Sport PLC - London-based performance nutrition firm - Confirms appointment of Dan Wright as non-executive chair, with immediate effect. Wright replaces John Clarke, who has now stepped down from the company's board. Science in Sport named Wright as its new chair at the end of September. Wright has been executive chair of Accrol Group Holdings PLC since 2018.

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28 Sep 2023 11:55

EARNINGS: Dekel hails palm oil operation; Science in Sport revenue up

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

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10 Jul 2023 13:12

Director dealings: Science in Sport non-exec linked to buy, Victorian Plumbing chair sells

(Sharecast News) - Science in Sport was on the list of director buys on Monday after a sizeable purchase was linked to a non-executive director.

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10 Jul 2023 11:21

IN BRIEF: Lombard Odier buys 900,000 Science in Sport shares

Science in Sport PLC - London-based performance nutrition - Lombard Odier Asset Management (Europe) Ltd buys 900,000 shares at GBP0.12, worth GBP108,000, on Tuesday last week. Science in Sport Non-Executive Director Henry Turcan joined Lombard Odier as an investment manager in 2017 and the Science in Sport board this past February. Lombard Odier has a 21% stake in Science in Sport, according to Morningstar.

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3 Jul 2023 15:23

IN BRIEF: Science in Sport suspended due to audited results delay

Science in Sport PLC - London-based sports nutrition company - Says it is unable to publish 2022 results in time for deadline. As a result, its shares were suspended for trading on AIM as of Monday, which will remain in place until it publishes its audited financial statements, which it expects "imminently".

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29 Jun 2023 14:30

EARNINGS UPDATES: Science in Sport, Ascent Resources losses widen

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

Read more
13 Apr 2023 11:56

Science in Sport concludes strategic review; quarterly revenue rises

(Alliance News) - Science in Sport PLC on Thursday announced the conclusion of its strategic review, while noting that revenue rose in the first quarter.

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22 Feb 2023 13:06

Science in Sport ends year in line with expectations

(Sharecast News) - Athletic nutrition company Science in Sport said in a trading update on Wednesday that despite a tough economic and supply chain environment, it performed broadly in line with expectations in 2022, achieving a 1.5% rise in revenue to £63.5m.

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22 Feb 2023 12:11

IN BRIEF: Science in Sport eyes results to be in line with guidance

Science in Sport PLC - London-based sports nutrition company - Expects revenue of GBP63.5 million for 2022, up 1.5% from GBP62.7 million a year ago. Says it performed broadly in line with expectations.

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3 Oct 2022 06:48

IN BRIEF: Science in Sport raises GBP5.0 million in placing

Science in Sport PLC - London-based sports nutrition company - Raises GBP5.0 million through placing of 33.3 million new shares at a price of 15 pence per share. The new shares represent just under 24% of the company's issued share capital prior to the placing.

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