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(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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abrdn UK Smaller Companies Growth Trust PLC - investment trust - agrees changes to the terms of the management fee payable to Aberdeen Investments. With effect from April 1, the management fee will continue to be charged on a tiered basis, but at reduced rates of 0.60% per annum on the first GBP200 million of the net asset value and 0.55% on NAV above this figure. This compares with a prior level of 0.75% per annum of the NAV up to GBP175 million, 0.65% above GBP175 million and below GBP550 million, and 0.55% above GBP550 million.
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Strategic Minerals PLC - London-based miner with projects in New Mexico, South Australia and the UK - reports first-quarter sales revenue of USD1.2 million, up 41% on-year from USD840,000 as sales volumes rise 38% to 17,162 tonnes from 12,393 tonnes. Also reports a cash balance of USD530,000 at March 31 against USD250,000 a year before, due to "strong" quarterly sales volumes at the Cobre magnetite operation in the US state of New Mexico. "The company continued to post strong operational and financial results in the first quarter of 2025 which will support the renewed focus on critical minerals exploration and development at the Redmoor tungsten-tin-copper project in Cornwall," says Executive Director Mark Burnett.
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4Global PLC - London-based data, services and software company specialising in major sporting events - secures a contract renewal and expansion with Sport England worth up to GBP4 million over four years. Explains the new Insight Solutions contract marks a "significant expansion" of the Sport England Moving Communities programme, underpinned by the company's recently launched Insight.OS platform. Chief Executive Eloy Mazon says the new agreement is a "strong endorsement of our ability to deepen and expand client relationships, which continues to lower our customer acquisition costs and drive [earnings before interest, tax, depreciation and amortisation] margin improvement." Adds: "Wins like this contribute to a growing base of forward-looking revenue and position us well for long-term growth."
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Big Technologies PLC - Hertfordshire, England-based remote people monitoring technology firm - notifies the Panel on Takeovers and Mergers in relation to the matters previously announced relating to the exit of chief executive Sara Murray. Says the events potentially engage Rule 9 of the City Code on Takeovers and Mergers which requires a mandatory offer to be made by any person who is interested in shares which in aggregate carry between 30% and 50% of the voting rights of a company.
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Cambridge Cognition Holdings PLC - Cambridge, England-based brain health software - wins a new contract worth around GBP1.2 million with an unnamed "major" pharmaceutical firm for the provision of digital cognitive and voice assessments for two phase 3 clinical trials in adolescents with major depressive disorder. Both trials are set to begin this year, with the first to run until 2027 and the second through to 2029. "This strategically important contract win highlights the value of our integrated speech and cognitive platform that not only delivers robust and reliable results for the pharmaceutical company but also reduces trial costs and patient burden. As a result, we see significant future demand for our unique platform, and we remain confident in our ambitions to significantly grow sales in the high-impact, late-stage CNS trials market over the coming years," says Chief Operating Officer & Joint Managing Director Rob Baker.
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Cordiant Digital Infrastructure Ltd - UK-based investor in specialist digital infrastructure - Announces that its Polish portfolio company, Emitel, has signed a long-term agreement with Orange Polska SA, a mobile network operator in Poland, to expand mobile network coverage in the country. Emitel is to construct hundreds of new telecommunications towers for Orange over the next few years, funded from free cash flow. Orange, as the anchor tenant, will commit to paying a recurring fee under a long-term contract for each site built based on industry-standard terms. Steven Marshall, co-founder of Cordiant Digital Infrastructure, says: "Wins such as this validate our Buy, Build & Grow model and create real value for our shareholders."
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Metals One PLC - UK-based company advancing strategic minerals projects in Finland and Norway - Agrees terms to to buy FinnAust Mining Finland Oy from 80 Mile PLC. The deal was first announced in March. On completion, Metals One will have 100% ownership of the Hammaslahti copper-zinc project and Outokumpu copper project in Finland, which are both associated with former operating copper mines. Metals One plans to drill test Hammaslahti later this year, following the identification of significant sulphide mineralisation, and to advance geophysical surveys of targets at Outokumpu in preparation to drill.
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ValiRx PLC - Essex-based life sciences company focusing on early-stage cancer therapeutics and women's health - Terminates letter of intent with TheoremRx Inc with immediate effect by mutual agreement. This follows notification by TheoremRx of a decision not to proceed with an amendment to the LOI to return the territory of Taiwan and maintain exclusivity in exchange for a non-refundable payment of USD200,000 by March 31, 2025. VAL201 will be moved to a prostate cancer focussed special purpose vehicle within ValiRx and plans to file intellectual property to extend the patent life. Notes interest from a new consortium regarding the asset and is in early stage discussions with charities regarding possible support for clinical development. Mark Eccleston, chief executive comments: "Whilst the decision to terminate the LOI is obviously disappointing, we have contingencies for this eventuality."
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By Jeremy Cutler, Alliance News reporter
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