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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Premier Miton Group PLC - London-based asset manager - Total assets under administration closed third quarter at GBP11.31 billion, sliding from GBP12.8 billion three months earlier. Records GBP300 million in net outflows during the quarter. Blames "uncertainty" caused by geopolitical events led to reduction in assets. "Investors remain cautious about committing to new investments, as highlighted by ongoing outflows across UK public equities, and we saw net outflows of GBP300 million in the period. These were primarily from European and UK equity funds, reflecting softer client sentiment. The outflows were partially offset by inflows into our fixed income funds and the Diversified multi-asset funds," Chief Executive Mike O'Shea adds.
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Henderson Diversified Income Trust PLC - Janus Henderson managed fixed income-focused fund - Net asset value per share ends April 30 at 79.55 pence each, sliding from 91.87p at the same point a year prior. It recorded an annual dividend of 4.40p, unchanged on the year before. NAV total return in year to April 30 negative 9.0%, underperforming benchmark which returned negative 7.0%.
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Infrastructure India PLC - Isle of Man-based closed-ended investment company focused on assets in India - Grants extension to long stop date for Indian Energy Ltd asset sale. Notes IEL holds two wind farm assets within separate special purpose vehicles, Theni and Gadag, which are its only assets. The GBP5.8 million sale to AVSR Constructions is expected in the coming weeks. It adds: "The company's creditors continue to be supportive, however, should the outstanding conditions not be met by IEL and consequently the sale not proceed, the company will not have adequate funding to meet its liabilities when they fall due and will need to identify other sources of financing."
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Warehouse REIT PLC - real estate investment trust focused on warehouses - Draws GBP63.0 million from revolving credit facility with existing lenders to help fund acquisition of Bradwell Abbey Industrial Estate in Milton Keynes. Now has total debt facilities of GBP345.0 million, and facility runs through to January 2025, with an option to extend for a further two years.
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Roquefort Therapeutics PLC - London-based biotechnology company - Shares start trading on the OTCQB Venture Market in the US. Notes it will continue to trade on its primary listing, on the Main Market in London. "Cross trading on the OTCQB market allows the company to access one of the world's largest investment markets to expand its reach into a broader pool of investors. Roquefort Therapeutics shares will be available to US investors during US working hours and priced in US dollars and thus has the potential to enable greater liquidity in the company's shares on the London Stock Exchange by easing cross-border trading for potential US investors," it adds.
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HealthBeacon PLC - Dublin-based digital therapeutics company developing project for managing injectable medications - Launches new Smart Scale product, which it says is an integrated solution that forms part of its Injection Care Management System. Adds: "The HealthBeacon Smart Scale enables patients to add weight monitoring to its ICMS, as the connected weight scale tracks weight progression, providing clinical teams with insights on specific medication outcomes." Expects Smart Scale will become available to patients this autumn.
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N4 Pharma PLC - Derbyshire, England-based pharmaceutical company - In a pre-clinical study of delivery system Nuvec with TNF-alpha, known as Medicines Discovery Catapult, there is clear tumour suppression with 10 micrograms of TNF-alpha loaded into Nuvec, a lower dose than used in earlier studies. Biochemical analysis of blood and tissue samples show that treatment led to an increase in circulating plasma TNF-alpha levels. "We continue to make good progress in understanding how Nuvec can be used in the oncology space," says CEO Nigel Theobald.
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Global Invacom Group Ltd - Whitstable, Kent and Singapore-based satellite communications equipment and electronics firm - Says wholly-owned subsidiary Global Invacom Manufacturing (Shanghai) Co Ltd is now dissolved. "The dissolution does not have any material impact on the consolidated net tangible assets per share or earnings per share of the group for the financial year ending December 31, 2022," it adds.
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Crossword Cybersecurity PLC - Richmond, England-based cybersecurity solutions company - Issues GBP550,000 of convertible loan notes, with expiry date of July 2025, at a price of 26.1 pence. Notes outstanding loan notes now valued at GBP1.9 million, with GBP225,000 to be repaid in December 2022 and January 2023. Chief Executive Tom Ilube says: "It is pleasing that Crossword is being supported in strengthening its working capital with the extension of current convertible loan notes and issue of additional convertible loan notes with new investors in Crossword."
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Doric Nimrod Air One Ltd - Guernsey-based investment company that leases aircraft - Reaches agreement to sell aircraft to Emirates airlines at end of lease, expected to be December 16, for GBP25.3 million. Will distribute sale proceeds to shareholders. "It is currently anticipated that the process for liquidation of the company will commence as soon as practicably possible thereafter, following payment of monies to shareholders," it adds. Liquidation expected in early in the first calendar quarter of 2023. Shareholder return to be about 66 pence.
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Mineral & Financial Investments Ltd - Cayman Islands-based investment company - Grants extension to the terms of the earn-in and call option agreements with Ascendant Resources Inc for a 50% interest in Redcorp Empreendimentos Mineros. Ascendant has the option to earn an additional 30% interest in Redcorp, for a total 80% interest. Ascendant now has to complete feasibility study on Lagoa Salgada by June 2023, as well as make a final payment to firm of USD2.5 million. Ascendant expects to complete the study by 1Q 2023.
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TomCo Energy PLC - London-based oil explorer in the US state of Utah - Wholly-owned subsidiary, Greenfield Energy LLC, awarded 10-year marginal tax reduction for planned Tar Sands site located in the Uinta Basin, Utah. Says tax reduction could results in savings of up to USD76.3 million. Company can buy up to 90% of Tar Sands site before end of 2022. "We believe our proposed development project in Uintah County is based on an exceptional deposit with tremendous potential. We continue to make good progress with our plans for the TSHII site and continue to advance the previously announced due diligence exercise being undertaken by a potential financing party currently interested in backing our plans for Greenfield," Chief Executive John Potter says.
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Challenger Energy Group PLC - Isle of Man-based oil and gas company focused on the Caribbean and the Atlantic-margin - Timothy Eastmond resigns as chief financial officer, effective immediately, for personal reasons. Current Chief Commercial Officer Gagan Khurana to take over CFO role on interim basis, until a suitable permanent replacement is found. Notes Eastmond's 160 million share options under executive option plan to cancel as he has not met performance criteria for the vesting.
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Curzon Energy PLC - investor and developer in US based natural gas projects - Continues discussions with Poseidon Enhanced Technologies over potential reverse takeover. Wants to extend exclusivity rights to September 30. "While there can be no certainty at present that these rights will be formally extended, the Company believes that productive discourse continues and will update the markets with any outcome of these discussions in due course," company adds.
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Ironveld PLC - South Africa-focused exploration and development company - Raises GBP500,000 from broker option in recent equity raise. Granted Turner Pope Investments ability to buy up to GBP1.0 million in shares in broker option alongside placing. Gross proceeds from placing, as a result, now GBP4.5 million. Says net proceeds will be used to complete the acquisition of FCF and the refurbishment of its existing smelter located in Rustenburg, South Africa.
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By Paul McGowan; paulmcgowan@alliancenews.com
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