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TRADING UPDATES: Ted Baker results in line; Gulf Marine raises cash

Wed, 09th Jun 2021 17:47

(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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Ted Baker PLC - London-based clothing retailer - Confirms results for year ended January 30 will be in line with consensus. Delays results release to June 14, from June 10. Change in date due to will allow auditor BDO to complete "internal review procedures". "The group reconfirms that its full year results will be in line with consensus expectations and reiterates its FY January 2023 financial targets set with the FY2020 preliminary results and then upgraded at the interim results in December 2020," Ted Baker adds.

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Gulf Marine Services PLC - Abu Dhabi-based provider of support vessels for offshore oil, gas and renewables industries - Raises GBP20 million through bookbuild of 665.9 million shares at 3 pence each.

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Angus Energy PLC - oil and gas development company - Says UK Oil & Gas Authority approves development plans at Saltfleetby gas field. Plans include side-track of SF07 well. Managing Director George Lucan says: "This is excellent news and an important milestone in the company's regulatory timetable for the recommissioning of Saltfleetby. We will proceed to tender for rigs and associated equipment over the coming fortnight."

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Longboat Energy PLC - exploration company - Prices fundraise between 75 pence and 80 pence per share. On June 1, Longboat said it planned to raise GBP35 million. The net proceeds will be used to finance the consideration for the farm-ins, costs associated with the drilling programme and the acquisition of seismic data, and general corporate costs.

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Nostrum Oil & Gas PLC - exploration and production company operating in the Caspian Basin area in eastern Europe - Notes 37% of shareholders vote against motion on authority to allot shares. Prooposal supported by 63% of shareholders. Nostrum adds: "The company intends to carry on an open dialogue and consultation with shareholders and their advisory bodies in order to better understand the reasons behind the result and to explain the company's position regarding the allotment of ordinary shares."

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TomCo Energy PLC - oil project development in US focused on using new technology to unlock unconventional hydrocarbon resources - Says Greenfield Energy LLC, 50-50 joint-venture with Valkor LLC, enters into purchase pact with Endeavour Capital Group LLC and Tar Sands Holdings II LLC to acquire 100% of interest and membership rights in Tar Sands. Tar Sands owns 760 acres of land and certain non-producing assets in Utah, US. Greenfield has paid non-refundable USD200,000 as part of deal. Greenfield can exercise right to acquire initial 10% for USD2 million on or before September 1. Can then acquire remaining 90% for additional USD15.3 million if done so before end of 2021, or USD16.3 million before end of 2022. TomCo adds: "There can be no certainty that Greenfield's due diligence exercise will be satisfactory or that the required funding can be secured to complete the acquisition."

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Sativa Wellness Group Inc - Vancouver, British Columbia-based 'seed-to-consumer' cannabidiol products - Research paper by King's College London on therapeutic use of cannabinoids for treatment of respiratory diseases published. Research suggests "cannabinoids are promising potential treatments for inflammatory diseases".

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Active Energy Group PLC - renewable energy and forestry management firm - Been awarded "Notice of Allowance" for Canadian patent for its CoalSwitch coal replacement process. dds: "The Notice of Allowance will ensure Active Energy holds the legal rights to exclude any other Canadian company from producing, selling or using the claimed CoalSwitch process for 17 years after the date of issuance."

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Sanderson Design Group PLC - Buckinghamshire-based interior furnishings - Says Scionliving, online partnership between Scion brand and Design Online Ltd, goes live. Adds: "The Scion online shop sells the brand's products direct to consumers and brings together for the first time core wallpaper and fabric collections with the wide range of Scion's licensing product."

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ReNeuron Group PLC - Bridgend, Wales-headquartered cell-based therapeutics - Activates sites in Spain and UK to expand phase 2a extension study of its treatment of retinitis pigmentosa, an eye disease. ReNeuron says: "The most recently enrolled subject was treated last week, undergoing a successful surgical procedure to implant the hRPC drug product. Five days following treatment, the subject presented with a presumed bacterial intraocular infection in the treated eye which impacted their vision, and was treated initially with an appropriate regimen of antibiotics, to which they responded with clinical improvement."

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RTW Venture Fund Ltd - investment company focused on the life sciences sector - Notes announcement by Alcyone Therapeutics Inc on launch of USD23 million funding from RTW Investment LP, RTW Venture's investment manager. Adds: "The company confirms that it participated in the financing round together with other investment vehicles of the investment manager."

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Close Brothers Group PLC - merchant bank - Says GBP151.6 million of notes tendered in tender offer of GBP175.0 million callable dated subordinated notes. To purchase all notes validly tendered at 102.281%.

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Tern PLC - internet of things-focused investor - Says Wyld Networks AB, holding firm of portfolio company Wyld Networks Ltd plans Stockholm float on Nasdaq First North Growth Market. First day of dealings expected to be July 2. Wyld to raise SEK25 million, about GBP2.1 million. Tern due to invest GBP300,000. Holding in Wyld to reduce from just under 79% to about 60%.

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Weiss Korea Opportunity Fund Ltd - closed-ended investment company managed by Boston-based Weiss Asset Management - Says has liquidated 75% of assets in realisation pool.

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Custodian REIT PLC - property investor - Acquires five industrial units on Knowsley Business Park, Liverpool. Custodian adds: "The units are occupied by Portakabin, Green Thumb, Central Electrical Armature and Med Imaging with a weighted average unexpired term to first break or expiry of 4.0 years." Purchased for GBP3.5 million.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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TomCo Energy draws down from second tranche of convertible loan

(Alliance News) - TomCo Energy PLC on Monday said it has drawn down GBP375,000 of the second and final tranche of the GBP750,000 unsecured convertible loan note facility.

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IN BRIEF: TomCo Energy obtains USD750,000 unsecured facility

TomCo Energy PLC - London-based oil explorer in the US state of Utah - Obtains unsecured facility of USD750,000 through a convertible loan note instrument and associated subscription and put option agreement, entered with broker Novum Securities Ltd.

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1 Aug 2022 18:21

IN BRIEF: TomCo Energy extends loan repayment date to August 31

TomCo Energy PLC - London-based oil explorer in the US state of Utah - Announces extension to the repayment date for unsecured USD1.5 million loan from Valkor Oil & Gas LLC, used for the acquisition of an initial 10% of the membership interest in Tar Sands Holdings II LLC.

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Copyright 2022 Alliance News Limited. All Rights Reserved.

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28 Jun 2022 20:10

IN BRIEF: Tomco gets second extension for Valkor loan repayment

TomCo Energy PLC - London-based oil explorer in the US state of Utah - Says repayment date is extended again for unsecured USD1.5 million loan to its subsidiary Greenfield Energy LLC from Valkor Oil & Gas LLC. The loan now must be repaid by July 31. The loan was used to acquire the initial 10% interest in Tar Sands Holdings II LLC, back in November. The deadline was already extended once before to June 31, as TomCo announced in May.

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28 Jun 2022 11:53

IN BRIEF: TomCo Energy subsidiary looks for acquisition funding

TomCo Energy PLC - London-based oil explorer in the US state of Utah - In the six months ended March 31, reports a narrowed pretax loss of GBP678,000. The figure stood at GBP777,000 the previous year. Revenue remains insubstantial at GBP23,000, up from none a year prior. Looking forward, TomCo's says focus is on its wholly-owned subsidiary Greenfield Energy LLC and its near-term potential production plans at the Tar Sands Holdings II LLC site in Utah. Adds that Greenfield is engaged in discussion regarding possible funding options to achieve a 100% acquisition of the Tar Sands site, as well as the proposed drilling of a number of oil wells. Company currently holds a 10% interest in Tar Sands.

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1 Apr 2022 10:53

IN BRIEF: TomCo Energy records larger annual loss on higher expenses

TomCo Energy PLC - London-based oil explorer in Utah - Records a pretax loss of GBP10.3 million in 2021, wider than GBP1.1 million recorded in 2020. Blames this on impairment losses of GBP8.7 million that did not occur in 2020. Reports no annual revenue, unchanged from the year prior.

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10 Mar 2022 21:22

IN BRIEF: TomCo Energy signs deal with Vivakor over Uinta basin

TomCo Energy PLC - oil explorer in Utah - Signs memorandum of understanding of Vivakor Inc over a professional services agreement for the supply of engineering services, including sand treatment and oil upscaling on the Tar Sands Holdings II LLC site in the Uinta basin in Utah. Also entered a renewed lease covering three acres of land for a term of five years, and an option to extend for a further five.

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10 Feb 2022 14:40

TomCo Energy receives approval to drill exploration wells

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IN BRIEF: TomCo Energy to provide services to Heavy Sweet Oil

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