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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Totally PLC - Derby, England based provider of healthcare, corporate fitness and wellbeing services - Appoints John McMullan as medical director, an executive board position, with effect from January 1. He is currently joint managing director of Pioneer Health Care, an established provider of specialist NHS secondary care services acquired by Totally in March 2022. Further, he has been a "key member" of the Pioneer Health Care leadership team since he was appointed managing director in 2014.
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Rockhopper Exploration PLC - Salisbury, England-based oil & gas exploration and production company - Agrees to extend each of the company's South Falkland Basin production licences until December 3, 2024, following discussions with the Falkland Islands government. The licences were previously due to expire on December 3. " Whilst our primary focus is on working with Navitas to bring the Sea Lion development in the North Falkland Basin to fruition, this extension will enable us to progress our understanding of these highly prospective licences in the south - in particular, the PL011 licence which adjoins the Borders & Southern Darwin discovery - which offer the opportunity for future regional development in the Falklands," Chief Executive Samuel Moody comments.
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Bango PLC - Cambridge-based mobile commerce company - Launches its e-distribution business in Europe through the Bango Platform, initially partnering with independent broadband, mobile and wi-fi solutions provider Onestream. Onestream will offer McAfee's security products as part of its broadband packages, to acquire and retain more customers. The Bango Platform enables merchants to standardize e-distribution, it explains.
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Metal Tiger PLC - Winchester, England-based investment company focused on natural resources sector - Completes its share purchase deed with Cobre Ltd to dispose of its remaining 49% interest in Kalahari Metals Ltd. "We are pleased to have completed the disposal of our interest in KML, which completes an important transition phase for Metal Tiger PLC as we move away from our project investment division to focus our strategy on substantially growing the company's net assets. We retain our exposure to KML's highly prospective exploration opportunities in Botswana through our 20.58% shareholding in Cobre," CEO Michael McNeilly comments.
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Triple Point Energy Transition PLC - London-based investment firm - Reaches the financial close on the provision of a debt facility of GBP45.6 million to a subsidiary of Virmati Energy Ltd. Explains that the financing is for the purpose of building a portfolio of four geographically diverse battery energy storage system assets in the UK. Says the first asset in BESS portfolio has finished the commissioning process and started operating. "The first project reaching commercial operations is a significant achievement for both field and the group in a challenging economic environment. By achieving commercial operations ahead of the winter period, field will be able to provide valuable services to the UK grid, balancing periods of volatile supply and benefitting from what are expected to be attractive trading conditions," Chair John Roberts comments.
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Valeura Energy Inc - oil and gas exploration, development and production in Turkey - Enters an agreement with PT Samudra Alam Transport to charter a crude oil tanker to store oil produced from the Wassana oil field, offshore Thailand. The vessel, MT Jaka Tarub, is a Panamax-sized oil tanker, with a storage capacity of 460,000 barrels of crude oil. Expects the vessel to arrive at the field in early January 2023.
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LungLife AI Inc - Thousand Oaks, California-based developer of diagnostic solutions for lung cancer - Says that the Centers for Medicare & Medicaid Services granted a price of USD2,030 per test for the LungLB early lung cancer detection diagnostic. Says the final CMS payment determination will be listed in 2023. "This is a major commercial milestone for LungLB and brings us closer to delivering the test to the people who need it most. We are very pleased to have secured a favourable crosswalk decision which creates added certainty and avoids a year-long process of determining price as would be the case under gapfill," CEO Paul Pagano says.
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Chrysalis Investments Ltd - investor in technology and finance startups - Engages with the board of Jupiter to revise the current performance fee arrangements in order to ensure long-term alignment between the management team and Chrysalis shareholder interests. Reduces performance fee level to 12.5% from 20%. The fee will be satisfied in shares. The shares allotted will be allocated by Jupiter, it adds.
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Eden Research PLC - Oxfordshire-based sustainable crop protection and animal health firm - Appoints Toople PLC Chair Richard Horsman as non-executive director. Says that its Mevalone and Cedroz products won certification for use in organic farming in Greece. "We are pleased to begin selling our products to organic farmers in Greece. The country is already an important market for us and will now continue to grow in significance. We are seeing a consistent rising demand for organic produce amongst consumers and growers. This is also supported by regulation," CEO Sean Smith says.
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CATCo Reinsurance Opportunities Fund Ltd - Bermuda-based closed-ended fund - Redeems 1.4 million ordinary shares at a rate of USD3.3355 per ordinary Share and 754,052 C shares at a rate of USD17.5042 per C share. The redemption ratios were 0.923631617 for to the ordinary shares and 0.905965573 for the C shares. Expects that the proceeds of the redemption will be paid through CREST to holders of ordinary shares and C shares.
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TomCo Energy PLC - London-based oil explorer in the US state of Utah - Raises gross proceeds of GBP925,000 via the placing of 264.3 million new ordinary shares at 0.35 pence per share. The placing shares will represent roughly 12% of the company's enlarged issued share capital. Says the funds will be used to cover its expenditure, as it progresses with its plans for Greenfield in relation to the Tar Sands Holdings II LLC site located in Utah, US.
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Sunrise Resources PLC - Macclesfield, England-based mineral project developer - Enters into an investment agreement with Towards Net Zero LLC to secure an investment of up to GBP480,000. Towards Net Zero will invest GBP200,000 for a two-year zero-coupon convertible security with a face value of GBP200,000. This will be followed by an investment of GBP80,000 by way of a placing. "The agreement provides funding on day one as well as additional capital committed by the investor, while the company retains the flexibility not to take up the additional funding committed by the Investor if it is not needed. Moreover, since the number of shares issuable under the arrangement is based on our future share price performance, it has the potential to reduce dilution compared to a discounted placing in today's difficult market," Executive Chair Patrick Cheetham says.
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By Abby Amoakuh; abbyamoakuh@alliancenews.com
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