(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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Ergomed PLC - Guildford, England-based services to pharmaceutical industry - Has had a strong start to 2021 as it builds on momentum seen last year. Now expects adjusted earnings before interest, taxes, depreciation and amortisation for full-year to be "materially ahead" of market expectations amid strong sales and order book growth. "Reported revenues for the full year are expected to be in line with market expectations, notwithstanding a higher proportion of US dollar denominated revenues leading to some FX headwinds," Executive Chair Miroslav Reljanovic says.
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Dekel Agri-Vision PLC - West Africa-focused agriculture company - Crude palm oil output rises 2.6% annually in May to 3,316 tonnes. Year-to-date figure up 11% to 23,877 tonnes. Says first half results on track to "materially surpass" prior year's EUR15.4 million revenue, EUR1.9 million earnings before interest, tax, depreciation and amortisation and EUR400,000 net profit.
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European Metals Holdings Ltd - mineral exploration and development company focused on Cinovec lithium-tin project in Czech Republic - Says UK-based "globally recognised" sustainability and life cycle assessment consultancy to provide life cycle assessment at Cinovec. Says LCA will be "benchmarked against global lithium peers". Company adds: "Life cycle assessment is a widely accepted and robust numerical method used to quantify climate change and other environmental impacts for industrial processes, while identifying opportunities for impact reduction and process improvement."
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Mast Energy Developments PLC - developer of reserve power generations plants - Says Bordesley project now enters construction phase. Chief Executive Paul Venter says: "We are very pleased with the progress in the development of Bordesley. We are currently ahead of schedule in terms of the set development schedule for Bordesley and we hope to see this carry through in an earlier than planned commissioning date for Bordesley."
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Serica Energy PLC - upstream oil & gas company - Says stabilised flow rate of 58.4 million standard cubic feet per day of gas and 135 barrels per day of condensate has been achieved at Rhum R3 well through a 60/64ths inch choke. "Operations on R3 have proved more challenging than expected but the skill and dedication of our operational team has enabled us to achieve this welcome result. The volumes flowed during the test are equivalent to over 10,000 [barrels of oil equivalent per day] which demonstrates the quality of the Rhum asset," says Chief Executive Mitch Flegg.
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Greatland Gold PLC - exploration and development company with assets in Australia - Notes release from ASX-listed Newcrest Mining Ltd in relation to drilling at Havieron asset, Australia. Says recent drilling results were "excellent". Greatland adds: "Drilling activities since the last report include new results from the ongoing growth drilling programme, which continue to support the potential for resource expansion of the Havieron system."
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Panthera Resources PLC - gold exploration and development company focused on west Africa and India - Says IP survey completed at Bassala project, with "several 'stand-out' targets" outlined that will need further drill testing. Managing Director Mark Bolton adds: "The IP geophysical technique continues to be an effective vectoring tool on our West African gold projects, with the recent results from the survey at Bassala being no exception. We have been highly encouraged by the identification of several well-defined chargeability highs at Bassala, over extensive zones, which are often associated with gold in soil anomalies and/or artisanal mining activity."
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Ariana Resources PLC - exploration and development company operating in Europe - Updates on capital reduction plans. Says first court hearing completed, as expected. Company "now working towards the second hearing later in June".
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Mosman Oil & Gas Ltd - New South Wales, Australia-based oil exploration, development and production company - Says Falcon-1 well, Texas continuing to produce gas and oil condensate. Most recent numbers showed gross flow rate of around 95 barrels of oil equivalent per day. Mosman adds: "Whilst the workover conducted in May did not increase gas production, nor reduce water production, the well has today been recompleted in a new zone to determine if that zone will flow at a higher rate of oil and gas." At Stanley, company says "several workovers have been performed to optimise oil production". Adds: "Stanley-1 has initially produced at 120 bopd. The well will require sand control, which will be installed in the near future. Stanley-2 continues to produce at 20-25 bopd. Stanley-3 is producing at circa 40 bopd, with flow rate temporarily restricted by paraffin wax build up in the flow line that occurred prior to this workover." Mosman has 50% stake in Falcon-1 and 15% to 19% working interest in Stanley.
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Oilex Ltd - Australian oil & gas exploration and production company - Says sale and purchase agreement to acquire Gujarat State Petroleum Corp Ltd's 55% interest in Cambay PSC has now been executed by both. Oilex adds: "The acquisition will provide Oilex with 100% PI in the Cambay PSC."
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Condor Gold PLC - gold exploration and development in Nicaragua - Begins 8,500 metre infill diamond drilling programme at La Mestiza open pit mine at La India project, Nicaragua. Adds: "Two diamond core drill rigs are currently operating on Mestiza and have drilled approximately 600 metres to date. The programme is anticipated to take a further 4 months to complete."
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Beowulf Mining PLC - exploration and development of gold, copper, lead-zinc-silver and graphite with projects in Finland, Sweden and Kosovo - Says Finnish subsidiary Oy Fennoscandian Resources Ab granted EUR791,000 by Business Finland. The grant represents 50% of the three-year EUR1.6 million budget for Fennoscandian's spheronisation and purification of natural graphite for the European lithium-ion battery market project.
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President Energy PLC - energy company with assets focused primarily in South America - Granted time beyond June 30 deadline to publish annual results. Says this is in "light of the continued difficulties faced in Argentina with respect to the pandemic". Expects to post accounts no later than August 31.
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Zenith Energy Ltd - oil & gas production company focused on Africa - Intends to drill ROB-3 well in Robbana concession, Tunisia to total depth of 2,400 metres. Adds: "ROB-3 will target two proven hydrocarbon-bearing reservoirs in the Cretaceous Upper Meloussi sandstone formation, from which successful production has been achieved from ROB-1 for many years. A production of approximately 100-150 barrels of oil per day is expected in the event of a successful drilling operation." Drilling tipped to take 60 days with USD1.5 million budget allocated.
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Longboat Energy PLC - exploration company - Pens third and final farm-in agreement with Idemitsu Petroleum Norge AS. Takes 10% stake in PL293B licence in Norway. Expected drilling date is in fourth quarter of year. Longboat raises GBP35 million through fundraise of 46.7 million shares at 75p each.
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Botswana Diamonds PLC - diamond exploration company with licenses in Botswana and South Africa - Updates model at Thorny River diamond project after recent kimberlite discovery. Explains: "The updated model estimates a range for the two blows of between 300,000 to 600,000 tonnes in aggregate, which is up to a three-fold increase in the volume following the modelling of the first blow." Says results from sampling work conducted in May to be available by end of July.
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Aquila European Renewables Income Fund PLC - renewable energy infrastructure investor - Ups potential commitment to The Rock project, a 400 megawatt wind farm in Norway, by up to EUR35.6 million. This is to "bridge the company's share of expected future draw-downs under the project's existing debt facility required to bring the project to completion".
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FastForward Innovations Ltd - investor in life sciences and technology businesses particularly within the medical cannabis field - Buys further 1.2 million shares in portfolio firm Little Green Pharma Ltd at average price of AUD0.655 each. No holds 2.0% stake.
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NetScientific PLC - Buckinghamshire-based life sciences and technology investment and commercialisation company - Raises GBP7.7 million in placing. Total of 6.0 million shares placed at 130 pence each. Executive Chair John Clarkson says: "We are delighted to have the support of existing shareholders and welcome new investors in this successful placing, which reinforces and further enhances the business prospects. The NetScientific board thanks everyone for their contribution to this ongoing success."
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Feedback PLC - Cambridge-based medical imaging software company - Says Bleepa medical imaging communications platform now available on Apple Inc's App Store and Google's Play. Adds: "For hospitals with a Bleepa contract, clinical users will now be able to simply download the app and easily access Bleepa through a registered login process. Access through the Apple App Store and Google Play will make it easier to roll out Bleepa at customer sites as clinicians will now be able to download the app directly to their own devices."
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Destiny Pharma PLC - Brighton, England-based biotechnology firm - Says XF-73 met its primary end point, reducing nasal burden in staphylococcus aureus patients. Staphylococcus aureus is a type of staph infection. Adds: "These positive results were achieved with just three doses of 0.2% (w/w) XF-73 nasal gel in the 24 hours before incision and the start of surgery." Separately, company says Chief Scientific Officer William Love sells 350,000 shares at 120p each, GBP420,000 in total. Now owns just shy of 11% of company.
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Cellular Goods PLC - UK-based provider of premium consumer products based on lab-made cannabinoids - Signs supply deal with Willow Biosciences. Willow to supply Cellular with cannabigerol to be used in Cellular's cannabinoid-based skin care products, set to launch in Autumn.
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Associated British Engineering PLC - Cambridge-headquartered engineering services firm - For six months to March 31, posts no revenue from GBP165,000 the year before and swings to pretax loss of GBP49,000 from a GBP145,000 profit. "Our company is now in a position to talk to potential acquisitions without having to consider the impact of the pension fund and related historical deficits. The board is now committed to using all its efforts to identifying and acquiring a new business with growth potential and hopefully showing profits for our group and a financial return for our patient shareholders. The board continues to review options for the future development of the group," say co-Chairs Colin Weinberg and Rupert Pearce Gould.
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Napster Group PLC - London-based operator of MelodyVR and Napster music streaming platforms - Expands deal with Sonos Radio HD. Napster explains: "The agreement, announced today, will see Sonos Radio HD stations also made available in Germany, The Netherlands, Canada, Austria and France. As part of the agreement the Group will receive an upfront payment together with a monthly fee from Sonos Radio HD and additional payments on a per subscriber basis." Separately, says receives notice from investor Nice & Green SA of exercise of convertible loan notes. Says GBP2.3 million of notes converted into 130.2 million shares at a conversion price of 1.767p each.
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Amino Technologies PLC - Cambridge-based broadcasting technology provider - Says unit 24i expands deployment deal with Dutch pay television provider Kablenoord. Will launch streaming applications for smart TVs. Amino says: "This partnership has rapidly delivered high demand digital services to Kablenoord's customers including live TV, pause, restart and catch up functionality. Adding to this partnership by implementing 24i's pre-integrated white label and backend software Kabelnoord means that customers will now be able to watch over-the-top internet content on Smart TVs without needing any additional hardware."
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Wilmington PLC - London-based information services provider - Will structure business in two divisions: Information & Data, and Training & Education. "The group's management and operating model will be structured around these two areas from the beginning of the new financial year in July," Wilmington says.
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TruFin PLC - financial technology firm - Says Satago Financial Solutions Ltd extends commercial pilot with Lloyds Bank PLC. TruFin says: "It is anticipated that the trial will conclude during the six-month extension period and, if successful, will lead to a five-year commercial agreement with Lloyds Bank."
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Sopheon PLC - enterprise software provider - Says 27 software transactions sealed so far in 2021. "So far these have been mainly customer extension deals and smaller in size - metrics we expect to balance out through the year as normal with some new and larger deals in the pipeline. Customer retention has been strong; and coupled with new orders," Sopheon says. Annual recurring revenue "has risen above USD19 million compared to USD18 million at the end of 2020." Says visibility for 2021 stands at USD28 million, compared to USD23.2 million a year earlier.
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Staffline Group PLC - Nottingham, England-based recruitment and training - Receives cash from fundraise and closes debt refinancing. "The new GBP90 million receivables finance facility, plus GBP15 million accordion option is being provided by RBS Invoice Finance Ltd, ABN AMRO Asset Based Finance NV, UK Branch and Leumi ABL Ltd," Staffline says.
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Octopus Renewables Infrastructure Trust PLC - investment firm - Proposes GBP100 million fundraise. Plans to issue 96.6 million shares at 103.5 pence each. Octopus says: "The investment manager has identified a number of Renewable Energy Assets with an aggregate value of approximately GBP1.3 billion which the investment manager considers would meet the company's investment policy and therefore would potentially be suitable for acquisition by the company."
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Pacific Horizon Investment Trust PLC - invests in Asia-Pacific region excluding Japan and Indian sub-continent - Says Roderick Snell become portfolio manager, having previously been deputy portfolio manager. Adds: "The board wishes to extend its thanks to Ewan Markson-Brown, the former portfolio manager, for his contribution to the company during his tenure."
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Chrysalis Investments Ltd - investment company - Notes announcement from Klarna Holding AB on USD639 million SoftBank Group Corp-led funding round. Values fintech firm Klarna, which provides online financial services, at USD45.6 billion. Chrysalis adds: "This new investment in Klarna has been undertaken at a valuation that represents a material mark up in the company's current carrying value of the asset. Given investment restrictions, the company did not participate in the round." "It is estimated that the revised valuation of the company's investment in Klarna due to this latest funding round would result in a gross increase in the NAV per ordinary share of approximately 20 pence."
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SigmaRoc PLC - London-based building materials company - Says from January, its Precast Products Group platform will offer ultra-low carbin cement-free products across whole of range. SigmaRoc adds: "The Greenbloc range, which also extends to bespoke solutions, will be manufactured at all of our PPG manufacturing sites located across the country, to provide the broadest geographical reach of any precast concrete product supplier in the UK, while also minimising carbon emissions throughout the supply chain."
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Walls & Futures REIT PLC - London-based designer and developer of specialist social housing - Virgata Services Ltd extends takeover offer to June 21. Says as of Thursday afternoon, Virgata has received support from 9.3% of Walls shareholders. Earlier in June, Walls reiterated shareholders should take no action concerning Virgata Services Ltd's "opportunistic" 50p per share offer.
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By Eric Cunha; ericcunha@alliancenews.com
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