Last checked at 
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
----------
Vela Technologies PLC - Early stage-focused technology investor - Reports total assets of GBP5.9 million as of June 30, down 6.2% from GBP6.3 million at March 31. Cash balance at June 30 was GBP34,000, versus GBP721,000 at March 31, while Vela's fair value of investments was GBP5.8 million from GBP5.5 million. During the quarter, Vela entered into a put option for the potential sale of its economic interest in AZD1656 for a total consideration of GBP4.0 million. The option was granted by Conduit Pharmaceuticals Ltd and Murphy Canyon Acquisition Corp. Should the option be exercised by Vela, the consideration that would be payable to Vela would be satisfied through the issuance of new shares in the combined company. Executive Director James Normand says: "Market valuations of Vela's listed investee companies remain, like so many others in the small- and micro-cap sector, well below the valuations that one would expect to be applied in 'normal' stock market times. The directors of Vela believe, however, that a number of its investee companies have huge potential; and have therefore determined to hold the shares in those companies until the market cycle results in valuations that are more appropriate to their respective trading and prospects. The board is particularly pleased that the risk taken nearly three years ago in investing in the development of the AZD1656 drug is at the point where a suitable reward can be reaped."
----------
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 that it needs more time to complete its audit and will have to delay the announcement of its results for the year ended March 31 and the publication of its Annual Report and Accounts for the same period. Adds that it needs more time to assess the up-to-date position regarding previously announced legal disputes, including the winding-up petitions brought against the company announced on July 28, August 29 and September 14. These petitions are being opposed by the company and it remains in negotiations with all parties. The first of these petitions was due to be heard in the High Court in Hong Kong on Wednesday, but was adjourned until October 11. The firm's shares will be suspended from October 2.
----------
British Smaller Cos VCT PLC - Leeds, England-based venture capital trust - Further to the launch of new shares offers on September 20, announces with British Smaller Companies VCT2 PLC that the application forms are now available and are being processed. The new share offers in the 2023/24 tax year are seeking to raise, in aggregate, up to GBP65 million, with an over-allotment facility of up to a further GBP25 million, in aggregate, by way of prospectus offers of new ordinary shares for subscription. The deadline for the receipt of applications and cleared funds is March 28, 2024, or earlier if the offers become fully subscribed.
----------
Inland Homes PLC - Southern England-focused brownfield developer, housebuilder and partnership housing company - Resolves to proceed with the process of appointing David Hudson and Phil Armstrong of FRP Advisory Trading Ltd as administrators of the company. Adds that some of its subsidiaries which have granted floating charges have also filed notices of intention to appoint administrators. Says this follows a review by FRP Advisory, which has provided "sufficient indication" that further work is still required before the preparation of financial statements could be completed and then audited. Inland says the extent of further work and cost required to complete the preparation of the financial statements and the audit for financial 2022 cannot be certain at this stage, and the timeframe within which this might be feasible is not known. Accordingly, Inland anticipates that admission of its shares to AIM will be cancelled on October 4.
----------
Guanajuato Silver Co Ltd - Mexico-focused precious metals explorer and producer - Says measured and indicated resources at San Ignacio more than doubled, totalling 790,000 tonnes. Chair James Anderson says: "The significant increase in the San Ignacio mineral resource across all categories can be attributed to the exceptional work on the part of our Mexican exploration teams; their efforts over the past year have expanded our understanding of the mineralized systems in place at San Ignacio while returning consistently high-grade results, some of which are highlighted below, that have led to an increase of 130% in the measured & indicated category and 283% in the inferred category."
----------
EDX Medical Group PLC - London-based developer of diagnostics products to help predict disease risk - Buys Hutano Diagnostics Ltd , to be met by the issue of 9.1 million new shares at 11 pence each. Up to 1.8 million additional consideration shares will be issued to the vendors on the achievement of certain commercial milestones. Says the acquisition will enable EDX Medical Group to accelerate and expand its point-of-care testing capabilities with a range of innovative tests capable of accurately measuring a combination of multiple disease markers on a single device within minutes. The new, miniaturised tests are expected to enable the identification of up to 10 disease markers simultaneously.
----------
By Holly Beveridge, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
