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Pin to quick picksSupply@me Cap Share News (SYME)

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TRADING UPDATES: RTW investee IPOs in US; Greatland tests Scallywag

Mon, 19th Apr 2021 19:25

(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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Evraz PLC - blue-chip Russian steelmaker - Issues consent solicitations for USD500.0 million 6.75% 2022 notes, USD750.0 million 5.375% 2023 notes and USD700.0 million 5.250% 2024 notes.

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Greatland Gold PLC - precious and base metals exploration and development in Western Australia and Tasmania - Says further results from Scallywag drill programme show license is "prospective for intrusion-related mineralised systems." Chief Executive Shaun Day adds: "In particular, it is very pleasing that initial targets have once more intersected pathfinder elements associated with systems seen nearby at Havieron and Telfer, and regionally at Winu." Company completed a total of seven holes for 3,761 metres at Scallywag during the 2020 field season, testing targets at the Kraken, London and Blackbeard prospects. Exploration work at Scallywag is focussed on the discovery of intrusion related gold-copper deposits such as Havieron, Telfer and Winu.

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RTW Venture Fund Ltd - investment company focused on the life sciences sector - Portfolio company Biomea Fusion Inc prices USD153 million US initial public offer. Biomea's IPO raised USD153 million by offering 9 million shares at USD17.00 per share. On the first day of trading, Biomea's share price increased by 9.41% to close at USD18.11 per share. "Biomea is a preclinical-stage biopharmaceutical company focused on the discovery, development and commercialization of irreversible small molecules to treat patients with genetically defined cancers. Biomea is advancing its lead preclinical program BF-219, an irreversible menin inhibitor, for the treatment of menin-dependent cancers," company explains. Prior to IPO, the company together with other funds managed by RTW Investments, participated in a USD56 million Series A financing round in Biomea in December 2020.

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Supply@Me Capital PLC - London-headquartered fintech platform - Says due diligence for TradeFlow Capital Management Pte Ltd deal continues and, it notes, does the integration plan for the Supply@ME and TradeFlow inventory funding business models. "The terms of the transaction and its financing are being structured so as to maximise existing shareholders' value," company says. It adds: "SYME and TradeFlow are keen to complete the acquisition as soon as practicable. A further announcement will be made in due course."

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Bushveld Minerals Ltd - South Africa focused-vanadium producer - Notes unprotected industrial action at its Vametco operation has temporarily stopped production with effect from April 16. "It is understood that the unprotected industrial action is in relation to expectations of payments under the Employee Participation Plan at Vametco, however, the company is yet to receive a formal notice from organised labour," company says. It adds: "The company recently concluded an EPP with the recognised labour union. The plan is designed to provide a framework whereby employees, excluding senior management, can share in the favourable performance of the company. This is in addition to production related bonuses employees receive during the ordinary course of the year. The expectations for payments are not in keeping with the EPP recently signed." Says senior management team has held a series of meetings with representatives of the recognised trade union.

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Cambria Automobiles PLC - franchised motor retailer - Says talks with management team, Mark Lavery, James Mullins and Tim Duckers, over possible acquisition deal ongoing. Management team sizing up deal to buy entire issued share capital of the company, not already owned by them, at of 80 pence in cash per share. Deadline for management team to make firm offer extended to May 17.

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Tavistock Investments PLC - Berkshire-based investment manager - Receives further letters from Paul Simpson and Denise Simpson, who own 1.0% of Tavistock, stating their intention to reject the possible all share offer by TEAM PLC. Notes now has letters of intent to reject deal from 35.1% of shareholders, on top of 16% owned my management who will turn down deal. Company believes offer undervalues Tavistock and feels there is no commercial logic to justify a combination of the two businesses. On March 23, Jersey-based investment manager Team announced a possible all-share offer for Tavistock worth GBP15.2 million, or 2.5 pence per share.

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By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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