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TRADING UPDATES: MaxCyte inks deal with Be Bio; Orcadian firms farmout

Tue, 02nd Apr 2024 15:19

(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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Crystal Amber Fund Ltd - invests in small and mid-cap UK equities - Announces that it will continue its share buyback programme to June 30. Having utilised GBP5 million in the programme since December 8, intends to continue to conduct on-market purchases under the programme, up to an aggregate amount of GBP2.5 million. Additionally, Crystal Amber Fund says it will not rely on safe harbour conditions for trading set out in Article 5 of EU Market Abuse Regulation. Therefore, it may purchase buyback shares on any trading day "materially in excess of 25% of the average daily volume in the 20 trading days preceding the date on which the purchase is carried out".

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MaxCyte Inc - Rockville, Maryland-based provider of cell engineering platform technologies developing "next-generation cell therapeutics" - Signs strategic platform licence with Be Biopharma Inc to support the development of Engineered B Cell Medicines - or BCMs. Be Biopharma is a Cambridge, Massachusetts-based company, which is focused on developing these BCMs to help patients living with genetic diseases and cancer. Under the terms of the deal, Be Bio gets non-exclusive research, clinical, and commercial rights to use MaxCyte's Flow Electroporation technology and ExPERT platform. In return, MaxCyte is entitled to receive annual licensing fees and program-related revenue.

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Kondor AI PLC - London-based developer of artificial intelligence products to offer on software-as-a-service model, focused analysis of visual input - Surpasses 20,000 downloads of its Kondor AI application. The app is currently available on App Store, and has a Google Play beta coming soon in North America. Executive Chair Jonathan Bixby says: "Kondor AI is built from the ground up for mobile devices and provides a layer of accessibility that anyone can easily understand and use for life's everyday questions. As artificial intelligence becomes more ingrained in our lives, we believe Kondor AI is uniquely positioned to assist users with their daily lifestyle and curiosities right through their phone.

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Synergia Energy Ltd - Perth, Australia-based gas producer - Appoints Ashish Khare as executive director, effective from Tuesday, following his work for the company in India. Khare is promoted from his position as head of India assets, which he has held since 2016, but has also worked across different sectors in the industry, including upstream oil and gas exploration. Chief Executive Officer Roland Wessel says: "Since 2015, Ashish has steered the company's Indian business through various challenges with skill and determination. Ashish was instrumental in the resumption of the Cambay field production in 2022 and the recent farm out agreement with Selan Exploration. I am delighted to welcome Ashish to the Synergia Energy board of directors."

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Bluebird Merchant Ventures Ltd - South Korea-focused gold company primarily focused on bringing historic mines back into production - Says that management has just completed a round of meetings with a South Korean firm for a partial farmout of the Gubong gold mine. The agreement for Gubong, which is the larger of Bluebird's gold mining projects in the country, would also include a free carry to production. This joint venture model has already been implemented at Batangas, which is Bluebird's gold project in the Philippines. CEO Colin Patterson says: "Drawing from our successful experience in the Philippines, we are convinced that the discussed JV model, which would secure a free carry for Bluebird to anticipated production, is the optimal structure to unlock value. We remain confident of finalising a comprehensive agreement in the very near future and thereafter delivering hoped for transformative returns to our shareholders."

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Agronomics Ltd - Isle of Man-based venture capital firm, which invests in the cellular agriculture field - Notes that its portfolio company, Onego Bio Ltd, has successfully raised EUR27 million in Series A financing, led by NordicNinja VC. Onego is a company focused on the commercialisation of egg proteins via precision fermentation. It has raised a further EUR9.5 million in non-dilutive funding from Business Finland, a government organisation offering grant funding for Finnish companies that address "significant global needs and challenges". Agronomics participated in the funding round with a GBP1.6 million investment. Subject to audit, its position in Onego Bio will be carried at GBP11.1 million, including an unrealised gain of GBP3.8 million. As a US-Finnish company, Onego plans to first launch in North America, where the regulatory landscape allows a faster market entry.

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Cizzle Biotechnology Holdings PLC - UK-based diagnostics developer - Signs non-binding memorandum of understanding for a strategic and exclusive licensing agreement to develop and offer its CIZ1B biomarker test in the US and Canada. Explains that this partnership should incorporate its existing relationship with Corepath Laboratories, a full-service cancer reference laboratory, through Cizzle Bio Inc. According to the memorandum, Cizzle will give Bio an exclusive licence to develop and market clinical diagnostic assays based on the biomarker, in order to facilitate the early detection of lung cancer. Cizzle will receive an upfront payment of USD100,000 as a non-refundable fee to grant Bio an exclusive negotiating period of 120 days. It will also receive minimum advance royalty payments of USD2.3 million over a period of 30 months. Cizzle will also participate in the ownership of Bio through a grant of a 10% equity stake for no cash consideration.

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Orcadian Energy PLC - oil and gas development company - Completes farm-out of 81% interest in Licence P2244, which contains the Pilot field, to Ping Petroleum UK PLC. Ping is focused on shallow water offshore production, and has a significant acreage holding to the East of Pilot. This means that Orcadian retains just shy of a 19% interest in the Pilot field development, fully carried to the first offload of oil produced from the field. It has no requirement to fund the pre-production development project work programme. Orcadian will now receive a USD100,000 cash payment and reimbursement of certain past costs capped at GBP250,000. It will also receive a USD3 million payment on FDP approval.

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By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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12 Jun 2024 19:06

IN BRIEF: Synergia Energy secures more funding from Indian government

Synergia Energy Ltd - West Perth, Australia-based oil and gas company - Agrees to a further short-term loan with Indian Government while it awaits the sale of 50% of its Cambay production sharing contract to Selan Exploration Technology Ltd. Synergia will receive USD2.5 million from Selan pending expected government approval. Also obtains further funding of GBP400,000 from investors in order to minimise equity dilution. Loan funding to be repaid following Cambay sale.

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28 May 2024 20:20

IN BRIEF: Synergia starts farm out process of UK carbon storage centre

Synergia Energy Ltd - Oil and Gas exploration company headquartered in West Perth - Announces on Tuesday that it has begun a farm out process of its interest at the UK Medway Hub Camelot CCS project. Synergia and partner Wintershall Dea AG each own 50% of the Camelot carbon storage centre in the Southern North Sea. The centre is projected to store between 70 and 100 million tonnes of CO2. Synergia is offering up to 50% of its stake to interested parties.

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8 May 2024 21:42

TRADING UPDATES: Home REIT cuts borrowings, Genflow shares restored

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and Wednesday, and not separately reported by Alliance News:

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14 Mar 2024 17:25

EARNINGS AND TRADING: Versarien inks agreement for Brazilian JV

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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11 Mar 2024 14:15

IN BRIEF: Synergia converts loan notes; confirms no equity finance

Synergia Energy Ltd - India and UK-focused gas production and carbon capture and storage project development company - Provides an update on March 9 maturity date of 6,500 convertible loan notes issued a year ago. The company says that this week it will repay in cash GBP386,451 including interest in respect of 5,430 notes and has agreed to repay GBP188,688 in cash including interest on or around September 30 in respect of 1,750 notes. It says that in total it will issue 140.5 million new shares for the conversion of the CLN. As announced in February, Synergia has a farm-out agreement with Selan Exploration Technology Ltd to transfer 50% of the Cambay PSC to Selan and awaits Government of India approval for the transfer, which will trigger the payment of USD2.5 million to the company.

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14 Feb 2024 19:56

IN BRIEF: Synergia Energy agrees farm-out deal for Cambay Field

Synergia Energy Ltd - India and UK-focused gas production and carbon capture and storage project development company - Announces the successful conclusion of negotiations with Selan Exploration Technology Ltd and execution of a farm-out agreement regarding the Cambay Field production sharing contract. Agrees to farm out 50% of the 100% interest held by Synergia in the Cambay PSC to Selan. In exchange for the 50% interest, Synergia will be carried by Selan through an agreed USD20 million work programme comprising three new wells focussed on the Eocene reservoir and three well work-overs. Synergia receives a cash payment of USD2.5 million immediately, proposes to apply the proceeds towards working capital purposes. Synergia retains a 50% interest in the Cambay PSC and a 50% share of the future production and revenues. This includes bonuses of up to USD9 million, linked to future cumulative gas sales thresholds.

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8 Feb 2024 16:04

UK shareholder meetings calendar - next 7 days

Friday 9 February 
Kibo Energy PLCEGM re pre-emption rights for share issues
Victrex PLCAGM
Monday 12 February 
Arix Bioscience PLCGM re takeover by RTW Biotech Opportunities Ltd
JPMorgan UK Smaller Companies Investment Trust PLCGM re merger with JPMorgan UK Smaller Companies
Mears Group PLCGM re authority to buy back up to 10% of shares
Tuesday 13 February 
Cellular Goods PLCAGM
Iconic Labs PLCAGM
JPMorgan Indian Investment Trust PLCAGM
Tui AGAGM including London Stock Exchange delisting vote
Xtract Resources PLCGM re sale of Manica gold project to MMP
Wednesday 14 February 
GCP Infrastructure Investments LtdAGM
Gfinity PLCGM re annual report
Tertiary Minerals PLCAGM
Tritax EuroBox PLCAGM
Thursday 15 February 
JPMorgan Asia Growth & Income PLCAGM
Synergia Energy LtdGM re share placing
VVV Resources LtdAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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31 Jan 2024 18:15

TRADING UPDATES: Creo unveils product in APAC; Unilever hires director

(Alliance News) - The following is a round-up of trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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31 Jan 2024 16:13

Synergia reports progress on Cambay farm-out process

(Sharecast News) - Synergia Energy updated the market on the progress of the Cambay PSC farm-out process on Wednesday, reporting that it was currently engaged in meetings in India with a prospective partner.

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22 Jan 2024 10:38

Synergia Energy shares up on "ambitious" work programme with partner

(Alliance News) - Synergia Energy Ltd shares rose on Monday, after it said it has agreed an "ambitious" work programme connected to the Cambay PSC farm-out.

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18 Dec 2023 10:35

Synergia pens head of terms deal for Cambay field farm-out project

(Alliance News) - Synergia Energy Ltd Monday said it had agreed a head-of-terms deal for its farm-out agreement in the Cambay Field.

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5 Dec 2023 13:01

Synergia raises GBP1 million as sizes up Cambay farm-out agreement

(Alliance News) - Synergia Energy Ltd on Tuesday said it has arranged a GBP1.1 million equity raise and added that it reached a deal "in principle" for a farm-out at the Cambay field.

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8 Nov 2023 15:46

UK shareholder meetings calendar - next 7 days

Thursday 9 November 
D4t4 Solutions PLCGM re name change to Celebrus Technologies PLC
Libertine Holdings PLCAGM
SIMEC Atlantis Energy LtdEGM re appointment of Nexia Singapore PAC as auditors
Friday 10 November 
DFS Furniture PLCAGM
Galliford Try Holdings PLCAGM
Minoan Group PLCAGM
Minoan Group PLCGM re issuing shares
Quartix Technologies PLCAGM
Redrow PLCAGM
Monday 13 November 
Ironveld PLCGM re fundraising
Victoria PLCGM re annual accounts and Grant Thornton UK LLP re-appointment as auditors
Tuesday 14 November 
Celsius Resources LtdAGM
Essentra PLCGM re movement of merger relief reserve
Financials Acquisition CorpEGM re LIU business combination
Fonix Mobile PLCAGM
Petra Diamonds LtdAGM
Smoove PLCGM re takeover by Pexa Group
t42 IoT Tracking Solutions PLCAGM
Wednesday 15 November 
Alternative Income REIT PLCAGM
Ascent Resources PLCGM re approval to issue 45 million shares
CQS Natural Resources Growth & Income PLCAGM
European Opportunities Trust PLCAGM
Hays PLCAGM
Henderson Eurotrust PLCAGM
Northern Bear PLCGM re tender offer
Reach PLCGM re proposed capital reduction
Synergia Energy LtdAGM
Zegona Communications PLCGM re acquisition agreement
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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3 Nov 2023 14:04

Synergia reports progress on Cambay well lift operations

(Sharecast News) - Synergia Energy updated the market on the progress of its artificial lift operations at the Cambay C-77H well on Friday.

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