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(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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Victoria PLC - Worcestershire-headquartered flooring firm - Acknowledges press speculation regarding discussions concerning a takeover of a subsidiary of Belgian flooring specialist Balta Group. "The board can confirm that it is in discussions to potentially acquire a profitable, growing part of Balta's group that it believes possesses good synergy opportunities with Victoria's existing business," Victoria says. Also confirms that Victoria is not contemplating an acquisition of Balta as a whole. States the purchased business would be "materially earnings accretive" if bought.
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Nightcap PLC - London-based hospitality investment firm - Buys Barrio Familia bar group for GBP4.9 million. The GBP4.9 million comprises GBP3.6 million in cash and GBP1.3 million in 5.7 million shares issued at 23 pence per share. As a result of the acquisition, Nightcap expects the group's results for year to be "significantly ahead of current market expectations". "I am absolutely delighted that Nightcap has acquired Barrio Familia, which includes Barrio's four Latin American-inspired cocktail bars and the '60s themed members' cocktail bar, Disrepute," comments Chief Executive Sarah Willingham.
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Pharos Energy PLC - oil & gas company with assets in Egypt, Vietnam and Israel - Restarts drilling programme at El Fayum Concession in Egypt. Operations have commenced on the first well, in a three-well back-to-back development drilling programme. Drilling operations are expected to take 24 days and the well will be later tested, completed and brought on to production using one of the workover rigs on contract. Operations for this initial three-well programme are expected to finish in February 2022. Petrosilah, on behalf of the joint venture, is currently tendering for two drilling rigs to continue the drilling campaign and for a first half 2022 commencement, Pharos states.
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Pelatro PLC - London-based marketing software specialist - Wins contract with African telco company to provide its mViva Campaign Management Solution on a managed services basis. The value of the multi-year contract, for the initial period, is around USD1 million with provision for extension after the initial period, Pelatro notes. Chief Executive Subash Menon comments: "This win has helped us penetrate the growing African market further. This is our third new customer in 2021 and further cements our position as a leading managed services provider of campaign management and loyalty management solutions."
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Everyman Media Group PLC - London-based cinema company - Says admissions ahead of expectations since September 2021. Now forecasts revenue and earnings before interest, tax, depreciation and amortisation to exceed current market expectations. Expects turnover of at least GBP46.3 million and Ebitda of GBP7.0 million or more. "Looking beyond the current financial year, early indications suggest the appetite for cinema remains strong and we are optimistic for the outlook of the sector," Everyman says.
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Eneraqua Technologies PLC - London-based heating and hot water systems for social housing and commercial projects - Begins trading on AIM market of the London Stock Exchange. The float raises GBP20 million at placing price of 277 pence per share. Of the GBP20 million, GBP12 million will be allocated to the company and GBP8 million for shareholders. "Our admission to AIM is an exciting milestone for Eneraqua Technologies. The successful completion of our IPO represents the beginning of a new chapter as we look to accelerate our expansion into new markets and geographies," comments Chief Executive Officer Mitesh Dhanak. Dhanak will retain a 19% stake in Eneraqua after the IPO.
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Schroder Real Estate Investment Trust Ltd - invests in UK commercial real estate, seeking income and capital growth from active management - Acquires portfolio of four industrial assets in the north west of England for GBP19.9 million total, reflecting a net initial yield of 6.9% and a capital value of GBP53 per square foot. Portfolio includes Valley Road Industrial Estate in Birkenhead, Haydock Industrial Estate in Haydock, and Newfield Fabrications in Sandbach, Cheshire. The trust will announce its interim results on Tuesday.
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Kistos PLC - investor in low-carbon energy assets, including in Dutch North Sea - Says Borr Drilling's Prospector-1 jack-up drilling rig has spudded the Q11-B appraisal well in the Netherlands. The Q11-B appraisal well is anticipated to take a minimum of six weeks to drill and test. Kistos is the 60% operator of the well.
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By Will Paige; willpaige@alliancenews.com
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