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Pin to quick picksUnivision Share News (UVEL)

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TRADING UPDATES: Woodbois first-quarter revenue rises; Oriole upbeat

Tue, 19th Apr 2022 22:13

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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Griffin Mining Ltd - operator of the Caijiaying zinc-gold mine in China - Says since recommencement of operations, mining and processing rates have steadily increased. Despite Covid-19 restrictions remaining in force throughout China, operational supplies and services continue to be delivered to the Caijiaying mine, it says. It processes 8,649 ore tonnes in 3 months to March 31, up from 200,209 tonnes year-on-year. Since the end of the first quarter of 2022, 4,000 tonnes of zinc concentrate have already been sold, it adds.

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Aura Energy Ltd - Australia-based minerals company with polymetallic and uranium projects in Europe and Africa - Says it has entered into contracts for a 10,000 metre drilling program at Tiris, which is set to commence in May. Explains the programme aims to increase the proportion of measured and indicated resources from 34% of total resource estimate to more than 50%. Notes that the programme will represent the "largest single drilling programme" completed on the Tiris deposits by Aura. The infill drilling program is expected to be completed in third quarter and resource upgrade early in the fourth quarter, it adds.

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UniVision Engineering Ltd - Hong Kong-based firm which installs closed circuit television surveillance systems - Notes court hearing for winding up petition which was set for Tuesday was moved, with new date yet to be agreed.

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Woodbois Ltd - Guernsey-based timber producer - For three months to March 31, revenue rises 22% to USD5.6 million from USD4.6 million the year before. Woodbois says this first quarter has been the best quarter for product shipping volumes since onset of the pandemic. In addition, says Chair Paul Dolan has stepped down from position and has assumed role of chief executive. Further, it says Federico Tonetti, former CEO, will shortly be leaving the company, while Non-Executive Director Graeme Thomson has been named non-executive chair.

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Lekoil Ltd - oil and gas exploration and production company focused on Nigeria and West Africa - For March, gross oil production at Otakikpo field located in offshore Nigeria amounted to 4,448 barrels of oil per day.

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IDE Group Holdings PLC - Edinburgh-based network, cloud and IT managed services - Says short-term loan of GBP1 million from MXC to IDE which was due on March 31 has not been paid. As such, the short-term loan has now adopted the same terms as the loan notes announced in January 2019. Says this brings the total potential indebtedness via loan notes once matured to a total of GBP25.9 million. All loan notes remain covenant free. MXC has begun exploratory conversations with IDE Group, with a view to converting its loan notes into equity, it adds.

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Grit Real Estate Income Group Ltd - pan-African property investment and management - Says it has acquired Gateway Partner's 31% interest in APDM for USD7.6 million and acquired Gateway's additional 6.2% holding in GREA for USD13.9 million. Following the transactions, Grit has acquired a 78% controlling interest in APDM and increased its interest in GREA to 26.3% with a clear path for Grit to purchase a controlling shareholding in GREA by December 2022.

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Oriole Resources PLC - London-based gold exploration company focused in Cameroon and Senegal - Says the start of 2022 was busy with progress on projects in Cameroon and confirmation from Iamgold Corp of the completion of the first phase of earn-in in Senegal. It also saw refocussing of its Turkish operations and completion of the annual report, which Oriole says has enabled the early submission of the 2021 research & development tax claim.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
16 Oct 2023 16:44

Hong Kong High Court orders UniVision Engineering to be wound up

(Alliance News) - UniVision Engineering Ltd on Monday said it has been ordered to be wound up by the High Court in Hong Kong.

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11 Oct 2023 18:10

IN BRIEF: UniVision says winding-up petition adjourned again

UniVision Engineering Ltd - Hong Kong-based company that supplies, designs, installs and maintains closed-circuit television and surveillance systems, and also sells security-related products - Announces that the winding up petition brought against it by one of its sub-contractors, KML Engineering Ltd, first announced on July 28, has been adjourned until October 16. The hearing had already been adjourned to September 27, and then to today, by the High Court in Hong Kong.

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2 Oct 2023 20:41

EARNINGS AND TRADING: Clean Invest reports interim loss and no revenue

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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27 Sep 2023 19:43

TRADING UPDATES: Inland Homes appoints administrators; EDX buys Hutano

(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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14 Sep 2023 12:01

UniVision Engineering receives wind up petition from E-Star

(Alliance News) - UniVision Engineering Ltd on Thursday said it intends to defend itself against a wind up petition brought about by one of its subcontractors, E-Star Engineering Co.

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29 Aug 2023 14:07

UniVision Engineering receives GBP1.2 million wind up petition

(Alliance News) - UniVision Engineering Ltd on Tuesday said it has received a wind up petition from a supplier for outstanding debt of HKD11.5 million, about GBP1.2 million.

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28 Jul 2023 16:34

TRADING UPDATES: Jardine Matheson net assets rise, Oberon loss widens

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on xxxday and not separately reported by Alliance News:

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6 Jul 2023 14:58

IN BRIEF: UniVision Engineering unable to explain jump in share price

UniVision Engineering Ltd - Hong Kong-based company that supplies, designs, installs and maintains closed-circuit television and surveillance systems, and also sells security-related products - Says it is not aware of any material commercial or operational reason for the significant increase in its share price, other than the recent restoration of trading on AIM after the publication of its half-year report on June 19.

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19 Jun 2023 11:48

IN BRIEF: UniVision swings to loss following MTR contract termination

Univision Engineering Ltd - Hong Kong-based CCTV supplier - Says it swings to pretax loss of GBP256,000 in the six months ended 30 September 2022, from a profit of GBP142,000 in the same period the year prior. Revenue falls to GBP653,000 from GBP5.0 million the prior year. The company says this was due to the termination of its major contract with MTR Corporation Ltd, which was effective from June 20. The company says it is considering a number of financing methods to improve its liquidity following the collapse of revenue; obtaining a loan facility of HKD12 million - around GBP1.2 million - and a potential investor providing a standby unconditional facility of HK20 million. The company declares no interim dividend.

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19 May 2023 19:26

IN BRIEF: UniVision Engineering belated results show swing to loss

UniVision Engineering Ltd - Hong Kong-based CCTV supplier - Reports delayed final results for the year ended March 31, 2022. Says revenue fell by 64% to GBP3.9 million from GBP10.9 million the year prior mainly due to the expiry of several maintenance contracts and the delay of several project deliveries. Pretax loss totalled GBP10.3 million, swinging from a pretax profit of GBP563,000 before. Company is considering and negotiating a number of financing measures to improve its liquidity and financial position. After reviewing cash flow projections prepared by management, company feels it has sufficient working capital to finance its operations and meet its financial obligations over the next 12 months. Continues to negotiate with MTR Corp over termination of its contract for alleged breach of contract which company disputes. Explains the termination of the contract would represent a significant loss of future revenue and profit for the company. However, says company would be able to re-deploy resources from this contract to other projects to mitigate this reduction. Calls for meetings with MTR Corp to discuss outstanding amounts and to quantify unbilled work.

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16 Feb 2023 21:35

TRADING UPDATES: Heavitree profit soars; Riverstone net assets rise

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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13 Dec 2022 12:33

IN BRIEF: UniVision's CFO leaves board; asked to pay Synnex

UniVision Engineering Ltd - Hong Kong-based CCTV supplier - announces that Director YIP Kwok Fai, knows as Danny Yip, has resigned from the board with effect tomorrow. The company says it is looking to appoint a replacement, and in the meantime Yip will remain at the company as chief financial officer.

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18 Oct 2022 17:07

TRADING UPDATES: Chaarat enters takeover discussions with Shanta Gold

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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12 Oct 2022 14:39

TRADING UPDATES: Angus Energy exceeds monthly production targets

(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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4 Oct 2022 21:56

IN BRIEF: UniVision Engineering suspended from trading on AIM

UniVision Engineering Ltd - Hong Kong-based CCTV and surveillance system company - On Monday, temporarily suspended from trading on AIM pending the publication of the company's annual audited accounts.

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