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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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Transense Technologies PLC - Bicester, Oxfordshire-based developer of specialist sensor systems for vehicles - Appoints Ryan Maughan as managing director with immediate effect. Maughan joined Transense on a part-time basis as business development director of SAWsense on December 1 2021.
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ReNeuron Group PLC - Brigdend, Wales-based stem cell and exosomes technology company - Appoints Cork Gully LLP as administrators. Says talks with creditors to establish the solvency of the business, have taken place, with a particular focus on finding solutions that would allow the group to continue trading on a lower cost model. However, to date, these discussions have not progressed sufficiently to establish the precise solvency status of the business. Therefore, due to this increased financial uncertainty the decision has been taken to appoint administrators. Stresses discussions with potential investors, partners and creditors will remain open throughout the administration process.
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Downing Strategic Micro-Cap IT PLC - London-based investment trust - Updates on return of capital to shareholders. Says that the level of cash within the company's portfolio against the net asset value as at March 6 has increased to over 40%. Therefore, anticipates that it will be able to undertake an issue and redemption of B shares on or around April 4. This will enable a return capital of around 26.0 pence per share to shareholders. Says this is significantly improved on the previous anticipated return of around GBP10 million, or 21.5p per share.
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BAE Systems PLC - London-based defence, aerospace and security company - Announces private placement of notes to institutional buyers. Notes to be issued consist of USD800 million in aggregate principal amount of 5.000% notes due 2027, USD1.25 billion in aggregate principal amount of 5.125% notes due 2029, USD500 million in aggregate principal amount of 5.250% notes due 2031, USD1.50 billion in aggregate principal amount of 5.300% notes due 2034 and USD750 million in aggregate principal amount of 5.500% notes due 2054. Net proceeds will be used to refinance USD4.0 billion in aggregate principal amount outstanding under the bridge loan facility agreement incurred to fund part of the acquisition price of Ball Aerospace, and for general corporate purposes. Notes the offering is expected to close on or about March 26.
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Cloudbreak Discovery PLC - Vancouver, Canada-based natural resource project generator - Says Andrew Male and Paul Gurney have joined the Board of G2 Energy Ltd. Male is interim chief executive of Cloudbreak. Gurney is a non-executive director. Male states: "Paul and I look forward to working with G2 and their team in order to develop and enhance the production assets that G2 hold. Our primary focus will be to assist G2 in generating more revenue and looking at additional acquisitions that are accretive to the Cloudbreak investment and G2's underlying business operations."
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By Jeremy Cutler, Alliance News reporter
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