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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and Tuesday and not separately reported by Alliance News:
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Forward Partners Group PLC - venture capital firm - Reports GBP3.7 million increase in portfolio value after online car retailer Cazoo successfully merged with a special purpose acquisition company to list in New York. Value of holding in Cazoo rose to GBP6.7 million from GBP3.0 million at the end of March.
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Sanderson Design Group PLC - Buckinghamshire-based interior furnishings company - Announces online launch of Archive by Sanderson Design brand. Brand's goods will be sold on dedicated website as well as through partnership with high-end retailer Selfridges & Co.
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Drum Income Plus REIT PLC - real estate investor, primarily in the office, retail and industrial sectors - Says real estate investment trust Custodian REIT PLC has until September 20 to decide whether or not to make firm offer for Drum. In August, Drum said it was in talks for possible all-share takeover offer from Custodian. Proposed deal would see ratio of 0.535 of a Custodian share exchanged for each Drum Income share, giving an implied value for Drum Income of GBP21.6 million.
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MobilityOne Ltd - e-commerce infrastructure payments and platform provider - Says UK unit M-One Tech Ltd applies for authorisation as an electronic money institution with Financial Conduct Authority. "This includes the use of e-wallets for payments of purchases or transferring funds to/from other parties within the e-money ecosystem, both of which are areas in which the group already has operational experience in Malaysia," MobilityOne says. "The decision from the FCA in respect of the submitted application is expected to be received in the second quarter of 2022 and, if approved, the group will be able to expand its business activities into the UK."
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Curzon Energy PLC - company which invests in US based natural gas projects - Says Poseidon Enhanced Technologies has secured a further extension of the existing exclusivity period through October 1. Back in February, Curzon entered an initial period of exclusivity with Poseidon - which aims to convert waste virgin polyethylene terephthalate produced from crude oil and plastic into recycled feedstock for the packaging and fibre industries - in which both companies will conduct due diligence on each other.
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San Leon Energy PLC - Dublin-based oil and gas exploration company - Enters into subscription pact with Decklar Petroleum Ltd. San Leon will be entitled to purchase USD7.5 million of 10% unsecured subordinated loan notes and 15% of the enlarged share capital of Decklar Petroleum.
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IGas Energy PLC - oil and gas producer onshore in UK - Albury and Bletchingley hydrogen projects planning applications submitted to Surrey County Council.
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Phoenix Copper Ltd - British Virgin Islands-based base and precious metals production and exploration company - Receives results from hole KXD21-02 at Empire mine in Idaho. Chief Executive Ryan McDermott says: "I am pleased to announce that the drill hole not only intercepted high-grade copper, silver, gold, lead and zinc in the sulphide zone, but also intersected good copper, gold, silver and zinc mineralization in the oxide zone from within the proposed copper oxide pit boundary, as it passed through the oxide zone into the sulphides."
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Trident Royalties PLC - mining royalty and streaming in "resource-friendly jurisdictions" worldwide, including Western Australia - Acquires net smelter return royalty for production at Lincoln gold mine, California. Trident enters into deal with Seduli Sutter Operations Corp. "Seduli intends to utilise the royalty sale proceeds to finalise the restart of Stage 1 production at the Lincoln underground gold mine," Trident adds. Gets initial 1.5% net smelter return royalty, which then decreases to 0.75% once Trident receives USD3 million in royalty payments.
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Critical Metals PLC - Africa-focused natural resources investor - Updates on acquisition of majority stake in Mauritius-based Madini Occidental Ltd. Says competent persons report has been prepared for Molulu project in Democratic Republic of the Congo and the audit and conversion of the Madini Occidental accounts into an IFRS compliant format progressing. Critical Metals adds: "All key advisers have been engaged and workstreams in relation to due diligence and application for readmission to trading on the Standard List, including the preparation of a prospectus, are underway."
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Plant Health Care PLC - agriculture products firm based in North Carolina - Says Harpin Ab approved in Argentina as a seed treatment. Notes corn and soybeans first crops to receive approval for Harpin Ab treatment. Plant Health says: "Argentina has 24 million hectares of corn and soybeans planted in the current season. Growers spent more than USD100 million on soybean seed treatments in Argentina in the most recent season. The size of the biological market in soybeans is growing rapidly and was about USD75 million in 2021."
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Oxford Metrics PLC - software company servicing infrastructure, life sciences, entertainment and engineering markets - Acquires Kempten, Germany-based movement analysis firm Contemplas GmbH for GBP1.1 million. Contemplas boasts a dominant position in swimming, according to Oxford Metrics, opening a new addressable market. Company explains: "The need for markerless measurement for quick use cases such as a swimming race or sprint start analysis is on the rise, providing the group with growth opportunities to explore."
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Futura Medical PLC - Guilford, England-based drug manufacturer - Enters into licensing pact with m8 Pharmaceuticals Inc for commercialisation of Futura's MED3000 erectile dysfunction treatment in Brazil and Mexico. Futura will receive payments for all MED3000 sales from m8. Company adds: "Futura also eligible to receive up to USD8.5 million in milestone payments based on deliverable sales volumes, including a small initial upfront payment."
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Haydale Graphene Industries PLC - Ammanford, Wales-based nanomaterial producer - Agrees USD200,000 loan from US Small Business Administration. Loan carries 3.75% annual interest.
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Lords Group Trading PLC - distributor of building, plumbing, heating and DIY goods - Acquires Nu-line Builders Merchants Ltd site in London for GBP600,000. Nu-line operates sites in Westbourne Park Road and Malton Road, both around Notting Hill, London. "Under the transaction, Lords will be assigned the Malton Road property leases and will take on circa 25 of Nu-Line's current employees. The group intends to relocate a number of product categories to the Malton Branch from the Nu-line Westbourne Park Road, which is ceasing to trade ahead of being sold for redevelopment by the vendor," Lords says.
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Zenova Group PLC - fire safety products firm - Appoints Keswick Enterprises Group Ltd as global distributor. Keswick will offer Zenova logistics support and a "complete supply chain where required". "This is a key milestone in Zenova's growth strategy. Working together with Keswick will ensure that an efficient and cost-effective service will be provided to our developing base of customers around the world," Zenova Chief Executive Tony Crawley says.
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By Eric Cunha; ericcunha@alliancenews.com
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