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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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Mattioli Woods PLC - UK-based wealth management services provider - Proposes acquisition of Maven, a leading private equity investor in UK SMEs and alternative asset manager for GBP100.0 million. Proposes acquisition of Ludlow Wealth Management, a financial planning business in the North West of England with assets under advice of GBP1.6 billion, for up to GBP43.5 million. Says acquisitions in line with its strategy to "accelerate growth through strategic acquisitions while enhancing organic growth opportunities; adding scale, distribution and product". Says acquisitions are expected to be earnings accretive in the first full year of ownership. Proposes fundraise via share issuance at fixed price of 660 pence per share to raise GBP110 million. Says its is seeing positive investment performance and sustained inflows into the Group's discretionary portfolio management services. Seeing increased client activity and improved billing recoveries in core pension business.
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Frasers Group PLC - House of Fraser and Sports Direct owner - Retail operator says it does not intend to bid for German fashion label Hugo Boss AG. Holds 15% stake in Hugo Boss. Last week, Hugo Boss shares rose amid speculation that Frasers was considering a bid for the company. Separately, Frasers reduces stake in Studio Retail Group PLC to 28% from 36%.
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Henderson European Focus Trust PLC - Janus Henderson-managed income and capital growth trust focused on portfolio of listed stocks, mainly in continental Europe - For the first half ended March 31, company reports net asset value per share at March 31 of 1,615.00p, up from 1,441.20p at September 30. Net assets rise to GBP345.3 million from GBP308.2 million at September 30. Says gearing remains at the lower end of its range at just under 0.2% of net assets at the period end and so performance was largely achieved through active investing. Maintains interim dividend of 9.60p per share. Expects market environment to suit the company going ahead.
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Hemogenyx Pharmaceuticals PLC - London-based biotechnology company - Says pursuant to the redemption, sale and conversion of convertible unsecured loan note announced last week, 433.3 million new share will be admitted to the standard segment of the Official List and will begin trading on the London Stock Exchange's main market on Wednesday. "The company will maintain its level of operations as it moves its product candidates forward to clinical trials, and updates will be provided to shareholders in due time," says company.
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Eurasia Mining PLC - UK-based mining & mineral exploration company - Announces that the financing previously announced last Thursday was successfully completed yesterday at the purchase price of 26.5 pence. Entered into a deal to raise USD20 million through private placement of 53.3 million shares. "The net proceeds of the placing are intended to be used primarily to finance the joint venture with Rosgeo," Eurasia said on Thursday.
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Polarean Imaging PLC - medical-imaging technology company - Notes the news release on Tuesday by Oxford Biomedical Research Centre concerning a study carried out in longer-term lung damage after Covid-19. "Many Covid-19 patients are still experiencing breathlessness several months after being discharged from hospital, despite their CT scans indicating that their lungs are functioning normally. Our follow-up scans using hyperpolarised xenon MRI have found that abnormalities not normally visible on regular scans are indeed present, and these abnormalities are preventing oxygen getting into the bloodstream as it should in all parts of the lungs," says company.
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Riverstone Energy Ltd - Guernsey-based energy investor - Remains focused on managing existing portfolio to maximise value. Says overall market conditions for energy have slightly improved. Continues to prioritise evaluating ways to reduce the share price's discount to NAV while also expanding the portfolio's exposure to decarbonisation and energy transition.
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TomCo Energy PLC - unconventional hydrocarbon development in US - Says Utah watchdog modifies cessation order at oil sands plant at Asphalt Ridge, Utah, being operated by Greenfield Energy LLC, a joint venture with Valkor LLC. Says processing and testing work at plant now allowed to continue until June 30.
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Tiziana Life Sciences PLC - London-based therapeutics for oncology, inflammation and infectious diseases - Says nasally administered Foralumab was well tolerated and there were no apparent symptoms of severe toxicity or cytokine release syndrome during phase 1 study. Says nasal administration of Foralumab is a unique approach to treat patients with neurodegenerative diseases such as amyotrophic lateral sclerosis and Alzheimer's Disease.
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UK SPAC PLC - previously Mountfield Group PLC, AIM cash shell - Announces that it has applied for a secondary quotation of its shares to trading on the Access segment of the AQSE Growth Market. Admission is expected to occur on or around June 3, 2021.
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Alien Metals Ltd - iron ore and silver projects in Australia and Mexico - Extends exclusivity period with the Elizabeth Hills silver tailings project owner for a further 45 days to factor in the backlog of work from laboratories in Perth due to the current high workloads they are experiencing. "This extension will allow Alien to undertake further assessment over the potential re-treatment and recovery of the silver tailings as discussions continue regarding the potential acquisition of the project," says company.
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Judges Scientific PLC - London-based scientific instruments-focused investor - Announces new GBP60.0 bank facility with Lloyds Banking Group PLC. "We are delighted that Lloyds and its Relationship Team have continued to show their long-term desire to stand behind the group's growth trajectory. This Facility will provide the Group with a substantially larger springboard to continue with the execution of its buy and build growth strategy," says company.
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Creo Medical Group PLC - medical device company headquartered in Chepstow, Wales - Says a new paper demonstrates that the use of "Speedboat Inject" is highly likely to be a cost-effective strategy for treating both benign and malignant large non-pedunculated colorectal polyps and can lead to cost savings in NHS Hospitals of over GBP10,000 per procedure versus a traditional surgical outcome for patients.
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Alba Mineral Resources PLC - mineral exploration and development company with assets in Greenland and the UK - Sees good preliminary bulk sample assay results at Clogau-St David's gold mine. "These are really pleasing test results and demonstrate how well our pilot plant is working now in producing gold concentrates with high recoveries. This bodes well for when we move onto bulk sampling new and previously unmined areas, in particular those new zones which we are defining in the course of our ongoing surface and underground drilling, where we believe the prospects for high-grade mineralisation are much greater," says company.
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Augean PLC - Wetherby, West Yorkshire-based waste management company - Says HMRC issues GBP1.5 million landfill tax assessment. Says it will appeal this at forthcoming tax tribunal. "The Group continues to believe, based on legal advice, that it has paid the correct amount of landfill tax and that HMRC's assessments are incorrect," says company.
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CyanConnode Holdings PLC - Cambridge, England-based narrowband radio frequency smart mesh networks firm - Inks memorandum of understanding with Intellismart Infrastructure Private Ltd, a joint venture company formed by Energy Efficiency Services Ltd and National Investment & Infrastructure Fund. "I am delighted to announce this MOU with Intellismart, which builds upon our existing relationship with EESL. Intellismart, supported by EESL and NIIF, have an in-depth knowledge of the Indian smart metering market and have significant experience operating smart metering OPEX models," says Chair John Cronin.
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Rambler Metals & Mining PLC - operator of the Ming copper-gold mine in Newfoundland & Labrador, Canada - Updated Ming estimate includes 24.1 million tonnes measured and indicated resources, grading 1.69% copper and 0.32 grams per tonne gold, containing 900 million pounds of copper and 251,000 ounces of gold.
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MetalNRG PLC - natural resources investing company - Announces that is has entered into an option agreement with BritEnergy Holdings LLP, which is the current holder of 500 ordinary shares in BritNRG Ltd. Agreement allows MetalNRG acquire a further 150 shares in BritNRG, which is the special purpose vehicle focused on the development of oil & gas and other energy sector assets. Says the option rights extend to a total of 15% of the issued ordinary share capital of BritNRG and, if exercised, would take MetalNRG's interest in BritNRG to 65%. The consideration is GBP545,000. "We have now entered into an option agreement with the private investors that participated in the acquisition of the oil & gas assets to acquire an additional 150 ordinary shares in BritNRG on its market listing, which we expect will be completed within the next 18 months. We believe there is substantial upside to BritNRG and are working towards getting the company listed while maintaining an economic interest," says MetalNRG.
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Cohort PLC - defence and security markets-focussed technology company - Says trading performance for the year ended 30 April 2021 is in line with expectations. Sees record order intake of GBP210 million, up from GBP124.4 million a year prior. Says profit growth is expected to be slow, however. "Cohort had a strong year, performing in line with our expectations despite the challenges posed by the pandemic. Our financial position ended the year stronger than expected with positive net funds. Together with our banking facilities, this provides us with the flexibility to continue to invest in the business and consider acquisitions. Notwithstanding the disappointment of delays to certain EID orders, we continued to strengthen our order book with further contract wins, and we see good prospects for further significant new orders," says company.
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Learning Technologies Group PLC - digital learning services and technologies provider - Says 2021 trading starts well and in line with expectations. "The board is confident of a strong recovery in our Content & Services division in 2021 and is encouraged by the performance of the Software & Platforms division which has been enhanced by the contribution of our recent acquisitions where integration is well advanced and delivering ahead of expectations. This overall momentum underpins LTG's ambitious medium-term goal, to achieve GBP230 million revenue and GBP66 million adjusted EBIT on a run-rate basis by the end of 2022," says Chair Andrew Brode.
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Netcall PLC - Hemel Hempstead-based customer engagement software firm - Launches a new Liberty platform solution, Tenant Hub, tailored to address the specific needs of the housing sector. Henrik Bang, CEO of Netcall, commented: "This is our third Hub joining Patient Hub and Citizen Hub on the Liberty platform. We continue to build new innovative solutions to meet the needs of specific industry verticals and help organisations across all sectors in their pursuit of a 'digital first' strategy. The group currently has approximately 120 local authority and housing association customers, and today's announcement represents a new significant opportunity to expand our services to both existing and new customers."
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SDI Group PLC - Cambridge-based medical technology firm - Says March and April sales and order intake have been robust across all businesses, "evidencing a further and welcome return towards normality in our served markets". Expects revenue for year ended April 30 of GBP35.3 million and adjusted pretax profit of GBP7.4 million. "This further increase in performance in a challenging year underlines the strength of the SDI operating model and the dedication of our staff," says company.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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