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TRADING UPDATES: Mothercare sales down; Revolution Bars seeks to raise

Tue, 25th May 2021 17:11

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



Webis Holdings PLC - Isle of Man-based gaming firm - Receives West Virginia wagering license which allows company to accept online wagers from state residents. "We are delighted to receive this license from the West Virginia Racing Commission for WatchandWager. We believe that this license will be mutually beneficial to both the company and the state in the forms of revenue and taxes generated from wagering," says Webis.



Revolution Bars Group PLC - bars operator based in Ashton-under-Lyne, England - Intends to raise GBP21.0 million via a firm placing, placing and an open offer at 20 pence per share. Says proceeds will go towards indebtedness, accelerate its existing site refurbishment programme and to take advantage of favourable market conditions for estate expansion.



JPMorgan Global Core Real Assets Ltd - real estate, transportation and infrastructure investor - Says further USD13.8 million of committed capital called, with a funding date no later than June 7. "This capital is being called by the Asia-Pacific Real Estate Strategy and materially increases the exposure to industrial/ logistics assets within the property allocation," says JPMorgan Global Core. Says it has now invested 96% of the total capital raised from proceeds of both the IPO and all subsequent share issuance.



Tiziana Life Sciences PLC - London-based therapeutics for oncology, inflammation and infectious diseases - Says the first patient with secondary progressive multiple sclerosis was dosed with nasally administered Foralumab, a fully human anti-CD3 monoclonal antibody. Says this is the first-ever clinical study in SPMS patients, under an individual patient expanded access IND, and will continue for six months to evaluate routine safety, tolerability, and neurological behaviors. "Effective and targeted treatments for progressive MS are urgently needed. Nasal Foralumab could revolutionize treatment for this disabling form of disease," says Tanuja Chitnis, professor of neurology at Harvard Medical School.



Mothercare PLC - Hemel Hempstead, England-based retailer to parents and young children - Reports unaudited net worldwide sales of GBP326 million for the year to March 27, down 40% to a year prior, impacted by varied approaches to Covid-19 in franchisee markets. "As a global brand the impact of Covid-19 has varied enormously by market as the countries in which our franchise partners operate have addressed the Covid-19 pandemic in many different ways including, but not limited to, restrictions on travel, movement and operating hours of retailers. These issues have been compounded by similar restrictions for our manufacturing partners, which coupled with the disruption to the global movement of freight, have caused additional challenges with availability of product for franchise partners further impacting sales for the year," says Mothercare. Expects to report a "small" earnings before interest, depreciation and amortisation profit for the year. Sees annual operating profit of GBP15 million "in future years" .



Custodian REIT PLC - Leicester, England-based commercial real estate investor - Sells retail unit in Nottingham at auction for GBP700,000, in line with the most recent valuation. Says the disposal has reduced the Company's high street retail sector weighting by income from 10% to 9%. "This asset was not aligned with the strategy of the Company as we did not anticipate future rental recovery," says Custodian.



Baillie Gifford UK Growth Fund PLC - investment firm focused on capital growth over the long-term from investment primarily in shares of listed UK companies - Announces name change to Baillie Gifford UK Growth Trust, effective Wednesday. The trading symbol and ISIN are to stay the same.



Octopus Titan VCT PLC - venture capital trust - Announces that terms have been agreed for Snap Inc to acquire WaveOptics Ltd "at a value not materially different from its holding value". WaveOptics is a business that designs and sells a set of components for use in augmented reality glasses that allow for the creation of AR displays. Titan gas invested around GBP16.0 million in WaveOptics.



IronRidge Resources Ltd - Australia-based minerals exploration company - Reports additional broad and high-grade lithium pegmatite drill intersections at new targets adjacent to the Ewoyaa lithium project in Ghana. "We are highly encouraged with the ongoing results received, which continue to confirm additional high grades in new exploration targets tested within the ELP area," says IronRidge.



Sareum Holdings PLC - Cambridge-based drug development firm - Says Covid-19 continues to impact the contract research organisations with which Sareum is working to complete the preclinical development of SDC-1801 for autoimmune disease. "While initially the impact on development timelines was minimal, it has increased and is causing further delays to the conduct of the final preclinical studies the company needs to complete on SDC-1801 prior to filing an exploratory Clinical Trial Application," says Sareum. Says it now expects final toxicity and safety studies to complete in the third quarter of the year.



Epwin Group PLC - Solihull, England-based building products manufacturer - Says demand from the group's key markets continues to be high, with indicators of consumer confidence strengthening. Revenue for the first four months of the year are 56% ahead of 2020, which included the first lockdown period, and 9% ahead of 2019. "The outlook for the current year continues to be favourable, notwithstanding the raw material cost inflation and supply chain issues, which we are managing proactively. The medium and long-term drivers for the Group's markets also remain positive, with a shortage of housing, an ageing and underinvested housing stock, as well as environmental and safety concerns driving legislation and initiatives that will require improvements to homes on a larger scale than just essential maintenance," says Epwin.



By Greg Roxburgh; gregroxburgh@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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