(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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FireAngel Safety Technology Group PLC - Coventry, England-based fire safety firm - Confirms it remains on target to meet market expectations for adjusted loss before tax for 2021, representing a "significant improvement" on 2020. However, it expects revenue to be at the lower end of market expectations. Additionally, debt at year end is expected to be ahead of earlier forecasts. Highlights supply chain issues have continued to intensify during the second half of 2021, with rising costs and component shortages affecting the group's ability to build products and increase stock inventory to meet growing demand. FireAngel Executive Chair John Conoley comments: "The board is pleased that despite severe headwinds, the company is on track to deliver an improved financial performance in 2021 and to have sufficient working capital for its forecasted needs."
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ValiRx PLC - Nuneaton, England-based drug development company - Amends license deal with Cancer Research Technology to enable a range of sub-licensing options. The updated VAL201 license restates the terms of the agreement, including the payment schedule and terms for milestones, the expected development plan and provides additional flexibility to a sub-licensee. Additionally, under the new terms CRT is required to formally approve any sub-license which ValiRx enters into relating to VAL201. CRT has also now approved the terms of the sub-license between pharmaceutical consultant TheoremRx and ValiRx and consented for the transaction to proceed in due course. ValiRx Chief Executive Suzy Dilly comments: "This amendment updates the VAL201 license terms in a manner that aligns the license with of the proposed terms of the sub-license between ValiRx and TheoremRx."
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InnovaDerma PLC - London-based developer of beauty, personal care and life science products - Posts narrowed operating pretax loss and expects a return to profitability in financial 2022. For the financial year that ended June 30, revenue is GBP10.2 million, down 23% from GBP13.2 million the year before, and operating loss narrows to GBP1.9 million from GBP5.0 million. Highlights a change in strategy, shifting focus away from revenue generation at the expense of profits to an "e-commerce led business to generate sustainable profitable growth". "The board is optimistic that the transformation plan enacted this year, as well as underlying improved consumer consumption versus last year, will enable the business to return to profitability this year. The group has been trading in line with expectations, with retail momentum steadily returning in the UK beauty category to pre-pandemic levels," Innovaderma says.
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Capital Metals PLC - London-based mineral sands explorer - Suffers a USD1.2 million pretax loss for the first half ended September 30, widened from a USD354,000 loss a year before. The company is not yet revenue generating. States it is focused on securing first industrial mining license at the Eastern Minerals Project in Sri Lanka, expects to receive this in the first quarter of 2022. Chair Greg Martyr comments: "This has been a transformational period for Capital Metals culminating in the award of our environmental impact assessment permit on 22 November 2021, despite the significant difficulties experienced in Sri Lanka during the Covid-19 pandemic. The obtaining of the EIA demonstrates the Sri Lankan authorities' support for the project and should enable us to meet our target of commencing commercial production in less than 12 months' time."
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Sportech PLC - London-based betting technology company - Extends period of exclusivity for discussions on the sale of its terrestrial lottery supply contract until December 1. Emphasises that there is no certainty that the sale will proceed.
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Voyager Life PLC - Perth, Scotland-based hemp seed oil products supplier - Buys CBD skincare firms Cannafull and Ascend Skincare for a total of GBP9,000. The parent company of Cannafull and Ascend Skincare, Cannafull Ltd, has recently gone into liquidation and consequently Voyager's acquisition of the two brands has been made from the liquidator. The GBP9,000 price tag will be for the brands, their websites and social media platforms, all fixtures and fittings and remaining inventory. Voyager is not however buying the parent company or taking on any liabilities as part of the deal. Cannafull manufactures CBD skincare products while Ascend Skincare supplies three CBD-based face serums.
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Directa Plus PLC - graphene nanoplatelets supplier - Granted EU patent for company's G+ pristine graphene nanoplatelets, aimed at boosting the performance of rubber-based shoe outsoles. Following the grant of the patent, Directa Plus's intellectual property portfolio will comprise 18 patent families with 72 patents granted and 25 patents pending. Chief Executive and Founder Giulio Cesareo says: "This EU patent will reinforce our position in the fast-growing market for technical footwear, attracting the attention of the major consumer product players."
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WANdisco PLC - Sheffield-based data-management software company - Secures a USD3.3 million three-year license contract with an unnamed "large North American multinational investment bank" for the use of LiveData Migrator. WANdisco's revenue share will be 50% of the license under its long-standing original equipment manufacturer agreement with IBM. Following the contract win, management now expects financial year 2021 revenue to be "meaningfully ahead" of current market estimates.
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Marlowe PLC - London-based safety and regulatory compliance services and software - Buys e-learning provider Skill Boosters for an initial payment of GBP5.5 million with a growth-based contingent consideration expected to be around GBP2.5 million. Skill Boosters is described as an equality, diversity and inclusion e-learning course provider. Marlowe notes Skill Boosters will offer "attractive cross-sell and technology synergies with Marlowe's compliance software activities, of which eLearning forms a key part".
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Kistos PLC - investor in low-carbon energy assets, including in Dutch North Sea - Confirms interest in buying some of TotalEnergies SE's West Shetland gas assets. Following press speculation, Kistos says the potential purchase is in keeping with its stated strategy of growth through acquisition and that it would be funded using the company's existing cash reserves.
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By Will Paige; willpaige@alliancenews.com
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