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TRADING UPDATES: Heavitree profit soars; Riverstone net assets rise

Thu, 16th Feb 2023 21:35

(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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UniVision Engineering Ltd - Hong Kong-based CCTV supplier - Says that a winding-up petition by Synnex Technology International HK Ltd was dismissed by the High Court in Hong Kong on February 13. In December, the company also said it had received a winding-up petition brought by an equipment supplier Synnex Technology International HK Ltd, for the contract with MTR Corpor Ltd in the High Court in Hong Kong. Synnex alleges that it is owed around GBP1.4 million by Univision.

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Windward Ltd - Liverpool, England-based maritime predictive intelligence company - Launches a new estimated time of arrival Insights AI capability to provide customers and partners with additional insights into supply chain delays. "The new AI-based iteration of visibility is actionable, and Reasons for Delay is Windward's next step to provide stakeholders with the tools to increase efficiency and decrease cost when it comes to their shipping operations," Chief Executive Ami Daniel says.

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San Leon Energy PLC - oil and gas production, development and exploration in Nigeria - Says that its investee company Decklar Petroleum Ltd received payment for crude oil sale from the Oza oil field in Nigeria, under its contract with Edo Refinery & Petrochemicals Co Ltd. Holds an 11% stake in Decklar. Says that trucking of crude oil continued from the Oza Field to the ERPC. Adds that an additional delivery of 5,000 barrels of crude oil to ERPC was completed last week. Adds that Decklar is "at an advanced stage" of executing a new 150,000 barrels of crude oil sale and purchase deal with ERPC.

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JPMorgan Global Growth & Income PLC - Investment firm - Completes the realignment of its C share portfolio. Says that the C shares will be converted to ordinary shares on a NAV-for-NAV basis, following the completion of the portfolio realignment.

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Various Eateries PLC - London-based chain of restaurants, clubhouses and hotels such as Coppa Club - Confirms that its wholly owned subsidiary Various Eateries Trading Ltd entered into an agreement to reissue its second deep discounted bond with Friends Provident International Ltd. Says the new deep-discounted bond has a subscription amount of GBP10.0 million and the nominal value is GBP10.8 million. Adds that the bond is secured over the business and assets of the company.

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Heavitree Brewery PLC - tenanted and leased pub company based in Exeter, Devon - Says that pretax profit in the year to October 31 doubled to GBP2.3 million from GBP1.1 million a year prior. Revenue rises 58% to GBP7.3 million from GBP4.6 million. Attributes this to a "satisfactory performance" in the second half, following a "steady performance" reported at the half-year. Reinstates a final dividend at a rate of 3.5p per share. Says its programme to sell non-core assets to reduce the level of borrowing will continue and other sites will be considered when they become available.

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Riverstone Credit Opportunities Income PLC - energy infrastructure and energy-transition credit investor - Net asset value per share as at December 31 stands at 108.45 US cents, up 6.4% from 101.92 cents on the same date a year prior. Records a NAV total return was 14.5%, versus the AIC Debt - Direct Lending peer group average of 8.2%. Reports that earnings per share amounted to 14.08 cents per share, tripled from 4.86 cents per share. Says this was driven by high levels of income from its fully invested portfolio. Declares a dividend of 2.0 cents per share for its fourth quarter.

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Challenger Energy Group PLC - Caribbean and Atlantic-margin-focused oil and gas company - Plans to rapidly progress its Uruguay asset 2023. Expects to complete its work commitment for the initial 4-year exploration period early in the second quarter of 2023 in Uruguay. Considers its option to expand activities in Trinidad and Tobago, including new licence applications, mergers and acquisitions, and joint programs with neighbouring operators. Secures an extension to the initial exploration term of the Weg Naar Zee production sharing contract in Suriname. Continues its discussions with the government of Bahamas for the extension of its licences into a third, three-year exploration period. Cash balance as at the start of 2023 were roughly USD2.7 million, the company says.

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Live Co Group PLC - Surrey, England-based live events, entertainment and sports events company - Says that its Chief Financial Officer John Millar left the company, due to "personal reasons" and will not now be appointed as a director. Adds that he will continue to assist the group on a part-time basis. "We thank John for all his hard work and wish him all the best in the future," Chair David Ciclitira comments.

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Creo Medical Group PLC - medical device company - Raises GBP28.5 million through a placing and subscription for 142.5 million ordinary shares at an issue price of 20 pence. Says Cenkos and Numis acted as joint bookrunners. Expects admission of the shares to take place on March 9 at GMT0800. Plans to use the proceeds to maintain momentum in the business and provide it with a pathway to a cash flow breakeven.

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Benchmark Holdings PLC - Sheffield, England-based aquaculture genetics, health and nutrition company - Says that 55% of its shareholders at its annual general meeting on Thursday voted against resolution 15 for the disapplication of pre-emption rights. Says that 56% of its shareholders voted against resolution 16 for additional disapplication of pre-emption rights, regarding acquisitions and specified capital investments. Confirms that it will consult and continue to engage with the relevant shareholders to understand and discuss their concerns for these resolutions.

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Maven Income & Growth VCT 3 PLC and Maven Income & Growth VCT 4 - venture capital trusts - Will utilise over-allotment facility as part of fundraise as "approaching" initial target of GBP5 million. Earlier in February, the duo said the over-allotment facility was worth GBP5 million.

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By Abby Amoakuh, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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11 Apr 2024 11:08

San Leon threatens action against Ocean Pearl in ELI acquisition spat

(Alliance News) - San Leon Energy PLC on Thursday said efforts had been made to thwart its acquisition of a controlling interest in Energy Link Infrastructure (Malta) Ltd, a move which it regarded as "both aggressive and vexatious in nature".

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TRADING UPDATES: Quiz sales fall, names new CEO; Byotrol eyes AIM exit

(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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11 Mar 2024 19:24

IN BRIEF: San Leon Energy closes in on new financing agreement

San Leon Energy PLC - Nigeria-focused oil and gas production, development and exploration company - Confirms receipt of acceptable commercial terms from two prospective funders which are in the final stages of negotiation. Hopes to sign full documentation with one of these funders in the relatively short-term.

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8 Jan 2024 13:51

San Leon Energy says no funds received yet from Tri Ri Asset

(Alliance News) - San Leon Energy PLC said it has not yet received funding from Tri Ri Asset Management Corp.

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1 Dec 2023 14:29

TRADING UPDATES: N4 launches investor hub; Capricorn production falls

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

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27 Nov 2023 14:00

EARNINGS AND TRADING: Celebrus swings to profit; Aquila revenue flat

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

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2 Nov 2023 21:01

TRADING UPDATES: Troy Income suspends buyback of shares

(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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10 Oct 2023 12:39

San Leon Energy receives up to USD187 million investment from Tri Ri

(Alliance News) - San Leon Energy PLC on Tuesday hailed an investment it has received that will enable it to become a majority shareholder in Energy Link Infrastructure Malta Ltd, which San Leon said was part of its long-term strategy.

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9 Oct 2023 17:54

IN BRIEF: San Leon scraps existing Midwestern deal, mulls alternative

San Leon Energy PLC - Nigeria-focused oil and gas production, development and exploration company - Announces the termination of its proposed transactions with Midwestern Oil & Gas Co Ltd and the further conditional investments in Energy Link Infrastructure (Malta) Ltd. Notes these were initially announced on July 8, 2022. Remains in early-stage discussions with Midwestern regarding a revised transaction in relation to Midwestern Leon Petroleum Ltd and Midwestern's indirect shareholding in ELI.

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9 Oct 2023 13:31

IN BRIEF: San Leon Energy notes "very advanced" talks on loan facility

San Leon Energy PLC - Nigeria-focused oil and gas production, development and exploration company - Says it is in a "very advanced stage" relating to securing an alternative loan facility. It says that in order for to enable discussions to conclude, Toscafund Asset Management LLP provided San Leon with a redemption and release letter that includes a standstill provision. Toscafund agrees not to make any demand for repayment of the loan or enforce security before Friday. "The board of San Leon believes that a conclusion on an alternative loan facility will be reached in the very near term and will provide an update to shareholders and creditors at that time," San Leon says.

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2 Oct 2023 14:32

EARNINGS AND TRADING: Alternative Income REIT raises dividend

(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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8 Sep 2023 19:30

IN BRIEF: Beazley Director Robert Stuchbery buys GBP50,357 shares

Beazley PLC - insurance business operating in Europe, North America, Latin America and Asia - Director Robert Stuchbery buys 9,505 shares at 529.79 pence each worth GBP50,356.77.

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8 Sep 2023 19:30

IN BRIEF: San Leon in talks regarding new loan, extends existing loan

San Leon Energy PLC - oil and gas production, development and exploration company focused on Nigeria - Continues discussions with a third party in relation to securing an alternative loan facility of USD50.0 million, which once concluded is anticipated to be used towards, amongst other purposes: the repayment of the USD5 million loan taken out in August. Proceeds of the new loan would also be used to make further investments in ELI and satisfy outstanding obligations to its creditors. Given talks continue, the original loan has been extended to September 30.

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1 Sep 2023 18:29

IN BRIEF: San Leon Energy extends longstop date for two transactions

San Leon Energy PLC - oil and gas production, development and exploration company focused on Nigeria - Announces further extension to the longstop dates for the proposed transactions with Midwestern Oil & Gas Co Ltd and the company's further conditional investments in Energy Link Infrastructure (Malta) Ltd. All longstop dates have now been extended to September 30. In discussions with Midwestern on whether a potential revision to the transaction can be agreed to allow completion to occur whilst the new eroton debt facilities and the Sahara OML 18 acquisition continue to be delayed for reasons outside of the company's control. There can be no guarantee that any such revised terms will be agreed. Further, remains in talks with a third party in relation to securing an alternative loan facility of USD50.0 million. In addition, remains in talks with ELI regarding making further potential investments of up to USD37.0 million, in ELI, which would be conditional, on completing the alternative loan facility of USD50.0 million.

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8 Aug 2023 13:50

IN BRIEF: San Leon Energy invests in Energy Link Infrastructure

San Leon Energy PLC - oil and gas production, development and exploration company focused on Nigeria - Announces a further investment of USD5.0 million in Energy Link Infrastructure (Malta) Ltd, which owns the new pipeline and the floating storage and offloading vessel for the OML 18 oil and gas field in Nigeria. The further investment in ELI is being funded by the company taking a USD5.0 million loan from funds managed by Toscafund Asset Management LLP.

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