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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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Peel Hunt Ltd - London-based investment bank - Expects revenue of GBP131 million for year ended March 31. Says recent trading has been ahead of revised analyst expectations. Investment Banking arm delivers record revenue for year, despite slight fourth-quarter hit from war in Ukraine. "Research and Distribution performed in line with our expectations and Execution & Trading volumes and activity have remained in line with expectations at a significantly higher level to the pre pandemic run rate," Peel explains. "Our pipeline of Investment Banking deals remains strong, albeit there is heightened execution and timing risk in the current environment. The number of retained corporate clients continues to grow, with 19 new clients added during the financial year."
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Yooma Wellness Inc - Toronto, Canada-based CBD and cannabis-related wellness products maker - Unit Vitality CBD's product range published by UK Food Standard Agencies under approved list for CBD. "The increased compliance in the sector is welcomed by the company, which helps ensure that only fully compliant products are available for purchase. Those not included on the FSA's CBD novel food register will subsequently have to be taken off sale," Yooma explains.
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Love Hemp Group PLC - London-based cannabidiol products - Similarly notes inclusion Food Standard Agency's public list of CBD products, "enabling Love Hemp to progress through to the validation stage in due course". Company adds: "Love Hemp has worked hard to ensure that our products are of the highest quality standards and meet all requirements as stipulated by any regulatory body. The FSA's latest public list endorses all of our submitted products and enables Love Hemp to continue to trade legally."
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Inspiration Healthcare Group PLC - Crawley, West Sussex-based medical technology for use in critical care and operating theatres - Reports commercial introduction of MT-RNR1 ID in vitro diagnostic test in UK and Ireland as part of distribution agreement with Genedrive PLC, a Manchester, England-based molecular diagnostics company. MT-RNR1 is made to identify risk of antibiotic-related hearing loss in newborn babies.
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Plant Health Care PLC - agriculture products firm based in North Carolina - Plans to begin commence commercial sales in "two new and significant markets" after appointment of Ager Agro SAS as distributor of ProAct agriculture product in Argentina and Uruguay. Plant Health Care notes Argentina is the third-largest grower of soybeans. "ProAct shown to increase yield by 5% in early season soybeans exposed to drought," company says.
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Angle PLC - Surrey, England-based medical diagnostics company - Says Molecular Oncology Laboratory at Swiss Federal Institute of Technology in Zurich publishes results of preclinical models related to metastatic breast cancer. Research finds specific genes involved in various steps of the metastatic process. Metastatic cancer refers to cancer cells which break away from where they first formed and create new tumours elsewhere. Angle says researchers used its Parsortix system to isolate circulating tumour cells and clusters, before they were analysed using DNA sequencing. Angle adds: "This study adds to the growing body of evidence demonstrating the ability of the Parsortix system to isolate single CTCs and CTC clusters, enabling the identification of actionable targets involved in the metastatic spread of cancer."
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Verici Dx PLC - Tennessee-based developer of clinical diagnostics for organ transplants - Expands clinical validation study for lead products Clarava and Tuteva by roughly four to six weeks. Expansion will allow inclusion of more verified data from European sites, upping "robustness of the study". Company adds: "The board does not expect this to have any impact on the company's recently outlined commercialisation pathway and the company remains on track to present results to the clinical community at American Transplant Congress in early June, as planned. Verici Dx believes it will be able to meet its launch plans within this year, as expected."
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Triple Point Energy Efficiency Infrastructure Co PLC - investment firm - Provides debt facility of GBP45.6 million to energy storage firm Virmati Energy Ltd for purpose of building portfolio of four battery energy storage system assets. Portfolio has total capacity of 110 megawatts and is located in north of England. "Funding will only occur once the projects are each sufficiently de-risked against construction and operational risks. It is expected that draw down will take place over the financial year to March 31, 2023," company explains.
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Triple Point VCT 2011 PLC - small and medium sized enterprises investor - To use further GBP5 million of over-allotment facility in relation to subscription offer. Measure increase amount that can be raised to GBP20 million.
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Tekcapital PLC - London-based intellectual property investor focused on universities - Portfolio firm Salarius Ltd's MicroSalt unit seals rollout of SaltMe! crisps to US supermarket Kroger Co. "The roll-out has been expanded from 1,800 stores to 2,200 stores," Tekcapital says. "Combined with other store locations, SaltMe! crisps are now being sold in over 2,400 stores across the US."
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Renew Holdings PLC - engineering services provider - Says trading for six months to March 31 in-line with management expectations. Managing material shortages and inflationary pressures "effectively". "The board remains confident of the group's prospects in the second half of the year," Renew says. To release interim results on May 17.
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Tintra PLC - Windsor, Berkshire-based firm building banking and infrastructure technology systems - Says working with buyer Sterling Management Centre Ltd in respect to proposed sale of lottery administration unit Prize Provision Services. "The company continues to work closely and constructively with Sterling to conclude the transaction," Tintra says. Says regulatory process has been complicated. Tintra explains: "The regulatory complexity of liaising with the Gambling Commission to complete a transaction that includes some 746 charitable societies, whilst equally importantly ensuring that none of those worthy causes are disadvantaged during the transfer of control, has proven to be a very complex endeavour. The company will provide further updates in due course." Conditional on the sale is a USD2.0 million investment from a Gulf-based investor. Tintra says: "This subscription agreement in respect of this investment has a long stop date of April 1, 2022 that gives the investor the right to withdraw from the transaction should they wish after this date. The investor has verbally confirmed to the board their intention to continue with the transaction and not exercise that right at this time." On Tuesday, company said planned acquisition of an electronic money institution, as well as a subsequent application of UK banking licence, "is no longer the right fit for the company's evolving strategy".
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TP Group PLC - Wincanton, England-based consulting, software and engineering company - Sells Northstar autonomous navigation software to QinetiQ Group PLC for GBP600,000.
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Cohort PLC - Reading, England-based technology company - Marlborough Communications Ltd unit receives two orders from the UK Ministry of Defence hearing protection and communication products developed by Invisio, a "long-term" partner. Products to be used in armoured fighting vehicles and in dismounted close combat, "one of the most demanding and challenging noise environments within the UK military". Deliveries to begin in second half of 2022 through to mid-2023.
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Barkby Group PLC - Abingdon, England-headquartered company with businesses in real estate, consumer & hospitality and life sciences - Buys Coach & Horses, a 16th century village pub with nine rooms in Chiselhampton, Oxfordshire. "Barkby will now undertake a comprehensive refurbishment of the pub with reopening scheduled for June 2022," company says. "The acquisition is a further expansion of the group's portfolio of high-quality pubs with accommodation. Barkby Pubs' portfolio now consists of eight premises with a total of 69 rooms."
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Resolute Mining Ltd - Perth-based gold mining company - Completes shutdown of Syama sulphide plant in Mali for improvement works. "The performance of the entire sulphide plant is now expected to be more consistent and manageable, as measured by the overall plant availability, leading to improved production outcomes," Resolute says. Company adds:"Syama gold production is on target for the March quarter."
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Trident Royalties PLC - Mining royalty and streaming company with projects in countries ranging from Peru to Canada - Notes Equinox Gold Corp announcement from Wednesday in relation to first gold pour at Santa Luz mine in Brazil. Trident owns gold offtake 35% of all refined gold output from operating mines Santa Luz, Fazenda, and RDM.
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Oracle Power PLC - London-based power and natural resource project developer with projects focused on Pakistan - Raises GBP800,000 through placing of 246.2 million shares at 0.325 pence each to support firm's green hydrogen project joint-venture with Kaheel Energy Ltd. "The joint venture company, Oracle Energy Ltd, will be focused on investing in and developing a facility for the manufacture of green hydrogen in the Province of Sindh, Pakistan," Oracle Power says.
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Aminex PLC - Tanzania focused gas project developer - Raises GBP3.3 million to fund expenses until it receives first revenue from maiden gas production at the Ntorya field, currently projected for end of 2024. Says 440.5 million shares issued at 0.75 pence each. "The company has continued to reduce its overheads over the last three years and the company's estimated running costs for 2022 (before one-off costs and exceptional items) are approximately USD1.4 million," Aminex says.
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Rambler Metals & Mining PLC - Surrey, England-based copper and gold producer - Says most of closing conditions related to gold purchase and sale pact with Elemental Royalties Corp have been satisfied, including Elemental raising at least USD7 million in financing.
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Wildcat Petroleum PLC - targeting investment opportunities in businesses and assets within the upstream sector of the petroleum industry, including the use of blockchain within the sector - Says robust oil price, around USD100 a barrel, bodes well for when it secures first oil producing asset. Wildcat says Covid-19 curbs last year hurt ability to secure hydrocarbon asset, but reopening mean it is confident it can do so now. "Last year was almost a virtual write-off due to Covid. However hopefully 2022 will result in Wildcat securing a transformational deal or deals from one or more of the opportunities we are investigating," company says.
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Kefi Gold & Copper PLC - gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia - In quarterly update notes security situation in Ethiopia improves "enormously". Tulu Kapi gold project, planned to be under 70% ownership of Kefi, is located in Ethiopia. Says during first quarter, Tulu Kapi Gold Mines Share Co reactivated project launch preparations and informed Ministry of Mines of its progress being on schedule and it is able to close project finance by mid-year if security situation in Ethiopia is "satisfactory". At Hawiah copper-gold project in Saudi Arabia, KEfi says work during quarter has been focused on providing data Hawiah feasibility study.
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BWA Group PLC - London-based minerals exploration investment company - Says negotiating with certain parties to provide GBP500,000 proceeds from fundraise. "The delay has largely been caused by market uncertainties arising from the war in Ukraine," BWA Group says.
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By Eric Cunha; ericcunha@alliancenews.com
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