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(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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Henry Boot PLC - Sheffield, England-based construction and property development - Says Phoenix 10 development in West Midlands given approval by planning committee. "Given its industrial past, the Walsall scheme requires extensive remediation works ahead of construction commencing, with the works planned to begin in Q3 2021," Henry Boot adds. Project will add 1,000 jobs to area.
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Beximco Pharmaceuticals Ltd - Bangladesh-based generic pharmaceutical products and active pharmaceutical ingredients maker - Net sales in third quarter ended March 31 rise 11% to BDT7.36 billion, about GBP63.2 million, from BDT6.61 billion. Post-tax profit up 62% to BDT1.47 billion from BDT648.6 million. "We are delighted to announce such strong financial results for the period. Through the resilience of the business and our commitment to delivering an uninterrupted supply of medicines during the pandemic, we have maintained double-digit revenue growth and delivered a significant increase in profit after tax when compared to the same period last year," Managing Director Nazmul Hassan says.
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Omega Diagnostics Group PLC - sells wide range of specialist products, primarily in the immunoassay, in-vitro diagnostics market - Launches Visitect Covid-19 antigen test. Can detect active Covid-19 infections. "The launch of the product is the final stage in the commercial roll-out of the product following successful CE marking announced last month. This lateral flow test is easy to use with throat and nasal swabs, or nasal only, and provides a visual read out in 10 minutes," Omega says.
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Sensyne Health PLC - Oxford, England-based clinical technology using artificial intelligence - Strikes strategic research pact with Royal Devon & Exeter NHS Foundation Trust in UK. "The agreement will enable the ethical application of clinical AI research to improve patient care and accelerate research into new medicines," Sensyne says. Pact is for five years.
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Synairgen PLC - respiratory drug discovery company based in Southampton - Reports data from at-home cohort in SG016 Phase II trial of SNG001 drug in Covid-19. "The vast majority of home cohort patients experienced mild disease - only two patients were hospitalised during the treatment period, both on placebo," Synairgen says. Says data reinforces company's confidence in next phase of trial, with results to be posted in second half of year.
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Impact Healthcare REIT PLC - real estate investment trust focused on healthcare properties - Raises GBP35 million in placing. Says 31.7 million shares issued at 111.5p each. "The net proceeds of the placing will be used to repay amounts drawn under its revolving credit facilities and to fund new investments in line with its investment policy, which are expected to deliver further value for its shareholders," Impact says.
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M&G Credit Income Investment Trust PLC - debt investment firm - Plans to implement "zero discount" to net asset value policy. Has been "concerned" by share price discount to NAV over past eight months. "The company will therefore seek to ensure that the ordinary shares trade close to NAV in normal market conditions through a combination of ordinary share buybacks and the issue of new ordinary shares, or resale of ordinary shares held in treasury, where demand exceeds supply," M&G says. Calls on Winterflood Securities Ltd to implement policy on company's behalf.
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CATCo Reinsurance Opportunities Fund Ltd - investor focused on offering returns from investments linked to catastrophe reinsurance risks - Announces compulsory redemption of 31.3 million C shares, returning USD19.2 million to shareholders.
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Restore PLC - Redhill, England-based document management, commercial relocation and IT recycling business - Buys Rainbow HoldCo Ltd, which trades as EDM Group, for GBP61 million. "The acquisition represents a strategically important transaction for the company, aligned to its stated acquisition criteria which will be additive to its core Records Management business and transformational for its growing Digital business," Restore says. Also plans GBP40 million placing of 11.0 million shares at 365p each.
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Headlam Group PLC - floor covering firm - Enters into deal to dispose of Swiss business Belcolor AG. Headlam to net GBP12.0 million from sale. "While Belcolor is highly established and industry-leading in its country, there are limited avenues for meaningful organic or acquisitive growth," company adds.
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Eleco PLC - London-based construction software developer - Says revenue in three months ended March 31 up 9% year-on-year to GBP7.0 million. Pretax profit surges 21%. "I am pleased to report that Eleco has experienced a strong start to trading in the first quarter which puts the company well on track to deliver in line with market expectations for the year as a whole," Executive Chair Serena Lang says.
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Driver Group PLC - Lancashire-based professional services consultancy firm - Says performed "creditably" during interim period to March 31, with profit only slightly below prior year. "A fast-moving picture in terms of lockdown restrictions in key territories and the loss of senior staff and associated team members to a competitor in the APAC region together combined to present significant challenges," Driver says. "However, meaningful progress has already been made in implementing the five-year strategic plan announced to the market in December with last year's results.
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PCI-PAL PLC - Ipswich, Suffolk-based cloud provider of secure payment solutions - Raises GBP5.5 million in placing of 5.1 million shares and subscription of 650,000 more, all at 95 pence. Placing allows for "opportunity to accelerate growth, capitalising on the solid foundations built in the UK and US by expanding the company's addressable market into Mainland Europe, Canada, and Australia".
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Ascent Resources PLC - onshore Caribbean, Hispanic American and European focused energy and natural resources company - Posts no revenue in 2020, versus GBP298,000 in 2019. Pretax loss narrows to GBP2.8 million from GBP3.7 million. Also reports six-month extension to memorandum of understanding with Cuban national oil firm CUBET that gives Ascent exclusive right to negotiate production sharing pacts at four blocks. "The MOU extension follows delays in country as a result of Covid-19 protection and isolation measures that were successfully implemented in Cuba," Ascent adds.
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Enteq Upstream PLC - oil & gas drilling technology company based in Buckinghamshire - Receives USD1.1 million 18-month contract from existing North American customer. "The order relates to the rental of Enteq's core Measurement While Drilling technology for a minimum of 8 months," Enteq adds.
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President Energy PLC - oil and gas company focused on Latin America - Says well LB-1002 at Rio Negro, Argentina completed with initial output levels 30% better-than-expected. New well EV-1002 has been spudded and EV-1001 to be completed within 14 days.
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Sylvania Platinum Ltd - Platinum group metals producer - Sylvania Dump operation delivers 17,420 4E PGM ounces in third quarter ended March 31, down from 18,363 ounces in second quarter. SDO revenue climbs 70% quarter-on-quarter to USD74.2 million from USD43.7 million.
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Trident Royalties PLC - growth-focused mining royalty and streaming company - Says first quarter royalty payments totalled USD451,314, up 55% from fourth quarter. "With a portfolio inclusive of copper, iron ore, gold, and now lithium, Trident is increasingly reflective of the broader global mining sector, providing investors with an inflation hedge in the face of loose global monetary policy and direct exposure to a once-in-a-generation energy revolution," Trident says.
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Zenith Energy Ltd - oil & gas production company - Enters into share purchase agreement with Candax Energy Ltd to acquire Ecumed Petroleum Tunisia Ltd. Ecumed holds 100% of El Bibane and Robbana concessions in Tunisia. Zenith unit Compagnie Du Desert to acquire Ecumed for nominal USD100 plus additional USD200,000 in the form of assumption of debt.
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Victoria Oil & Gas PLC - gas producer and distributor with operations in Cameroon - Says first quarter average daily natural gas sales rate was 5.2 million standard cubic feet per day, up from 5.1 million quarter-on-quarter. "We are very pleased with the recent progress made on a number of fronts, both from an operational and corporate perspective, with some of these having been reported on separately in the last few weeks," Chief Executive Roy Kelly says.
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Salt Lake Potash Ltd - Western Australia focused organic sulphate of potash miner - Reports on first quarter activities. Notes Lake Way, Australia process plant commissioning commenced in March. Post-quarter end, five two megawatt units in power plant commissioned.
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Jadestone Energy PLC - Asia Pacific-focused oil & gas company - Seals sale and purchase agreement with SapuraOMV Upstream Sdn Bhd to acquire its Malaysian assets. Jadestone to pay an initial USD9 million. Jadestone will acquire four Malaysian assets. Assets add "immediate cash flow from around 6,000 barrels oil equivalent per day of low operating cost production, on a net working interest basis".
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Coral Products PLC - Manchester, England-based plastic products supplier - Repays GBP402,381 Coronavirus Business Interruption Loan. "This repayment allows the company to return to normal commercial operations," Coral says.
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By Eric Cunha; ericcunha@alliancenews.com
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