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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Global Ports Holding PLC - London-headquartered cruise port operator - Says revenue in third quarter down 19% year-on-year to USD29.9 million. For first nine months of 2020, revenue down 8% to USD84.1 million. Passengers numbers down 99% in third quarter alone. "As 2020, a year the global cruise industry and many of us will want to forget, comes to an end, the global cruise industry remains in near shutdown and the outlook for 2021 remains uncertain for the sector," Chief Executive Officer Emre Sayin says.
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Braemar Shipping Services PLC - provides technical expertise and professional marine and energy services - Unit Braemar Naves Corporate Finance to partner with cruise ship manager V.Ships Leisure "to support cruise and ferry operators, their investors and financiers" amid challenges to passenger ship industry. "With complementary skills and capabilities, the joint team will provide an integrated solution for a range of stakeholders in the industry, including consultancy and advisory services spanning operational & technical topics, HSEQ future-proofing, financial and business plan due diligence and assessments, as well as stakeholder advisory and capital raising," Braemar says.
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MTI Wireless Edge Ltd - antenna manufacturer based in Israel - Secures order from northern European customer worth USD650,000 for development of military antennas.
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Ceres Power Holdings PLC - Horsham, West Sussex-based solid oxide fuel cell developer - Notes fuel cell company Doosan Fuel Cell Co Ltd signs deal with Navig8 for the joint development of a solid oxide fuel cell to provide cleaner fuel for ships, reducing carbon emissions.
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Crossword Cybersecurity PLC - London-based technology commercialisation company - Working with Verifiable Credentials Ltd and East Kent Hospitals University NHS Foundation Trust on proof of concept trial using Verifiable's credentials application independent middleware. "InnovateUK have awarded funding to support the trial to create a local system that allows NHS testing laboratories in East Kent to issue Covid-19 immunity certificates to individuals to hold securely on their smartphones, and for selected organisations to check the validity of those certificates when presented to them wherever they are, without compromising any unnecessary personal information," Crossword adds.
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Solid State PLC - Worcestershire-based computing products manufacturer - Manufacturing division Steatite secures funding from Innovate UK to develop battery powertrain solution. "The aim of the research and development projects under the fund is to help all sectors of the UK economy build back better over the next two years after the effects of Covid-19," Solid State says.
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IMImobile PLC - cloud communications software firm - Offers Alphabet Inc's Google business messages as extra communications channel for businesses.
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Gresham House Energy Storage Fund PLC - UK utility-scale battery storage fund - Announces new share issue programme to be conducted over next 12 months. Company may issue up to 250 million new shares with initial tranche launching on Tuesday. "The net proceeds from the Initial tranche are expected to be used to finance near term opportunities in the company's new pipeline," Gresham House says.
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Tern PLC - internet of things-focused investor with headquarters in London - boosts portfolio with GBP860,000 investment in Talking Medicines Ltd, for 23% stake.
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Braveheart Investment Group PLC - Barnsley, England-based strategic investor - Says news of Pfizer Inc vaccine does not lessen need for rapid testing for Covid-19 being developed by investee Paraytec Ltd. "The directors' expectation is that any vaccine that becomes available to protect against Covid-19 will be, initially at least, used for the protection of front line health workers and the very vulnerable. The directors therefore believe that the best way to protect the rest of the population will be to allow mass testing," Braveheart explained. Notes Paraytec focusing efforts on meeting regulatory requirement in major markets such as UK, EU and US.
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Frontier IP Group PLC - intellectual property commercialisation firm - Says investee Alusid gets GBP250,000 investment. Alusid inks GBP125,000 backing from UK government's Future Fund, GBP100,000 from Frontier and GBP25,000 from private investor.
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AEW UK REIT PLC - real estate investment trust - Acquires multi-let Westlands Distribution Park in Weston Super Mare for GBP5.4 million. "The estate provides a net initial yield of 6.4% which is expected to increase to at least 7.4% within the medium term. The average passing rent of GBP1.50 per square foot also provides strong potential for rental growth," AEW UK REIT says.
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Ormonde Mining PLC - Spain-focused natural resources firm - Says remains in exclusivity agreement for acquisition of mineral resource project. Adds due diligence ongoing.
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SolGold PLC - exploration company focused on Ecuador - Forms Alpala project committee, including three board members. "The key objectives of this committee are to actively participate in setting the development strategy, provide advice, support effective decision making and monitor the staged development to achieve agreed outcomes relating to the Alpala copper-gold-silver project," SolGold says.
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88 Energy Ltd - Australian exploration & production company - Says total prospective resources of 1.77 billion barrels of oil equivalent at project Icewine, Alaska. Says farm-out process for 2022 drilling to begin "immediately".
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Zenith Energy Ltd - oil & gas production company with operations in Italy, Tunisia and the Republic of the Congo - Agrees with Azerbaijan's SOCAR to terminate Zenith's exploration in the country. "The company is pleased to confirm that its Azerbaijan subsidiary has recently received payments for a total of approximately USD85,000 from SOCAR for past oil production." Terminates letter of intent from consortium of Arab investors for a USD2 million investment announced in March.
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Mosman Oil & Gas Ltd - Australia and US-focused oil and gas explorer - Says preparation for well testing at 50% owned Falcon-1 well in Champion project, Texas completed. "Following the successful drilling of Falcon-1, planning for the drilling of the next well, Galaxie-1 well has commenced," Mosman says. Says at Greater Stanley project, first workover to begin thus week. At Stanley project, workover recently undertaken at Sanley-2 well. "The zone was completed and flowed oil, following which the well was shut-in pending installation of artificial lift equipment," Mosman Oil.
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Star Phoenix Group Ltd - exploration and production company with operations in Trinidad and Indonesia - Enters into consultancy pact with Fire Phoenix Ltd. Fire Phoenix to provide "business development and M&A advisory services". "The consultant will identify, review, evaluate and inform the board of opportunities in businesses which the company would reasonably consider being of interest for investment or acquisition purposes. In return for its services, the consultant shall receive a monthly fee of USD13,000," Star Phoenix says.
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Jangada Mines PLC - natural resources company - Notes announcement from 18% owned investee ValOre Metals Corp. ValOre updates on testwork at Pedra Branca platinum group element project in Brazil and notes "high palladium recoveries".
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DCD Media PLC - a TV distribution and production group - Reports revenue of GBP5.8 million for six months ended September. "The group also announces the completion of a revolving funding facility from its principal bankers, Coutts & Co. This will allow the business to control more content as it acquires new programming going forwards. This facility complements existing long-term funding arrangements," DCD says.
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Agronomics Ltd - Isle of Man-based investment company focused on environmentally friendly food production - Raises GBP64,149 in broker option part of fundraise, bringing total amount to GBP10.1 million.
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By Eric Cunha; ericcunha@alliancenews.com
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