(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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Rotala PLC - bus operations at Heathrow airport and in West Midlands and North West - Acquires entire bus business and 20-strong fleet of Johnsons (Henley) Ltd for GBP936,000 in cash payable on completion. The business being acquired is a well-established operator of commercial and contracted bus services in Warwickshire and the southern West Midlands. The acquisition is expected to be earnings enhancing from completion, it says.
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SmartSpace Software PLC - Suffolk, England-based software company - Launches SwipedOn's software-as-a-service visitor management platform, in South Korea. SwipedOn currently has clients in 8000 locations and over 70 countries.
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Gulf Marine Services PLC - United Arab Emirates-based lift boat company - Wins 2-year contract for one of its K class smaller vessels, with an unnamed national oil company client in the MENA region. The contract will commence in May 2022 and brings total secured utilization for the year to 88%.
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Pembridge Resources PLC - London-based copper-focused mining company - For 2021, swings to a pretax profit USD20.6 million from loss USD11.2 million in 2020.
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MP Evans Group PLC - producer of sustainable Indonesian palm oil - Notes the Indonesian government's temporary ban on the export of palm oil. MP Evans says ban on exporting both crude palm oil and refined products, which came into effect on Thursday, was intended to protect domestic supply. It says local demand for palm oil was expected to increase "significantly" over the Lebaran festival period, celebrated over the next seven to 10 days. "Management continues to monitor the situation closely, and awaits clarity from the Indonesian government regarding the length of the export ban and extent of its impact on the domestic market.
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Prospex Energy PLC - investment company focused on European gas and power projects - Says El Romeral power plant in southern Spain continues to provide healthy income from selling electricity into the spot market in Spain at near record price levels. Company holds a 50% working interest in El Romeral through its interest in Tarba Energía SL. Tarba has now repaid in full its two shareholders, Prospex and Warrego Energy, a total of EUR308,669.97 including interest. Prospex received EUR153,698.64. After the loan repayment, Tarba holds more than EUR600,000 in cash.
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San Leon Energy PLC - independent oil and gas production, development and exploration company focused on Nigeria - Presses ahead with proposed reorganisation and consolidation of the Midwestern Leon Petroleum Ltd vehicle which holds a stake in the OML 18 oil assets in Nigeria. Says that OML 18 is a "world class" oil and gas asset and plans to further enhance involvement in this asset, via the transaction, have the potential to be "very significant". It expects to publish an admission document in relation to transaction in June.
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Gulf Investment Fund PLC - invests in companies in Gulf Cooperation Council countries - Says that all assets in the tender pool have been sold. Final tender offer asset value was USD11.3 million giving a tender price of USD2.1639.
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Aukett Swanke Group PLC - London-based architect - Says it is to sell John R Harris & Partners, which operates out of the Middle East, to its local management team for a maximum consideration for maximum of GBP1.1 million. Says the sale is part of a series of intended actions to restructure the group's operations and to allow the John R Harris business to fulfil its potential without the burden of a central overhead.
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Clean Power Hydrogen PLC - UK-based green hydrogen technology and manufacturing company - Says it is experiencing delays in its MFE220 unit. Says delays caused by supplier issues as a result of the Covid-19 pandemic and the current economic environment, which in turn have impacted the planned commissioning schedule. Further, it says there are a number of processes, including engineering modifications, that have taken longer than expected to finalise. However, says none of these concern the overall viability of the design and expects to overcome these matters in the next few months. "We remain on course to deliver our aims, targeting 4GW production capacity by 2030, and are certain of our ability deliver on the opportunities ahead." says Chief Executive Officer Jon Duffy.
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Baron Oil PLC - oil and gas exploration company with assets in the UK, Peru and Timor-Leste - Says it has conditionally raised GBP1.7 million before expenses through an oversubscribed placing and subscription. Issues 2.8 billion shares at a price of 0.06 pence a share, which was a 14% discount to its closing price of 0.07 pence on Thursday.
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Kavango Resources PLC - mining company focused in Botswana - Confirms the completion of the first diamond drill hole at the Ditau Camp project, Botswana, hole DITDD003 which it holds with Power Metal Resources PLC. The hole was completed to a total depth of 300.14 metres, which the company's technical team believes has tested the geophysical target at this specific location.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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