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(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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Forward Partners Group PLC - London-based early-stage technology-focused investor - Announces that the 'change of control' conditions relating to the takeover of the company by Molten Ventures have been satisfied. Explains the scheme by which the takeover will be facilitated is now subject to court approval at a hearing on March 12. Subject to this approval, the scheme is expected to become effective on March 14.
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Tekcapital PLC - London-based intellectual property investor - Provides an update on Guident Ltd's strategic partnership with AuVe Tech OU. Guident is a Tekcapital portfolio company. Guident plans to integrate its autonomous vehicle remote monitoring, control, assistance, and passenger support services with the autonomous shuttle, MiCa from Auve Tech. Notes Auve Tech is an Estonia-based company that specializes in the development and manufacturing of autonomous transportation systems.
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Sovereign Metals Ltd - Malawi-focused mining exploration and development company - Appoints Marco Da Cunha, as its new lead environmental, social and governance officer. Notes Da Cunha has almost 20 years of experience in the field of environmental and social management.
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Tower Resources PLC - Africa-focused oil and gas company - Reaches agreement for the repayment of the outstanding balance owed to Energy Exploration Capital Partners, LLC in accordance with the terms announced on January 16, 2023. Further, announces subscription for around 3.33 billion shares at 0.018 pence each. Explains this will raise GBP600,000 which will fund working capital, including the repayment to EECP. Funds will also help progress work on the company's licenses; including the Thali PSC, offshore Cameroon, PEL 96 in Namibia, and the Algoa-Gamtoos license in South Africa. Tower Resources says the subscription will be issued in two tranches with a first tranche of 1.05 billion shares and a second tranche of 2.29 billion shares.
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Power Metal Resources PLC - exploration company focused on North America, Africa, and Australia - Issues update concerning its uranium property portfolio focused on the Athabasca Basin area in Saskatchewan, Canada. Says the newly acquired Richards Lake Uranium Property was staked during the most recent mineral administration registry Saskatchewan electronic registry system claim. Power Metals points out the Richards Lake acquisition takes the company's uranium portfolio to eighteen properties.
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Poolbeg Pharma PLC - London-based clinical-stage biopharmaceutical company targeting diseases with a high unmet medical need - Says Cathal Friel, co-founder, substantial shareholder, and currently non-executive chair, will become executive chair effective immediately. Friel says: "I believe Poolbeg is well positioned for success. As part of my ongoing commitment to the company, I also intend to start increasing my shareholding in Poolbeg as and when I am able to do so". Further, company launches employee incentive performance plan. Friel says this will "incentivise and retain key members of the Poolbeg management team."
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Diversified Energy Company PLC - Alabama, US-based oil and gas production company - Intends to offer shareholders two options with regard to payment of the dividend announced in November. Shareholders can either receive the dividend on March 28 as normal. Or, they can waive some or all of the payout in order to have their shares purchased in a tender offer for cash. Explains the tender price will include a premium. Diversified Energy believes that the current share price does not reflect the quality of the assets nor the significant opportunities for its long-term strategy. Therefore, considers the repurchase of shares a prudent use of capital and in the best interests of the shareholders. Plans to fund the tender offer from existing resources.
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By Jeremy Cutler, Alliance News reporter
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