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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Urban Logistics REIT PLC - investor in UK industrial properties - Raises gross proceeds of GBP108.3 million from oversubscribed placing of 65.9 million shares at 155 pence each. Chair Nigel Rich says: "The urban logistics sector continues to benefit from long term structural momentum created by the growth in e-commerce. This significant injection of capital will enable the company to continue its growth and capture a pipeline of attractive assets."
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Telit Communications PLC - London-based company that focuses on software for the internet of things - Compass Asset Management SA intends to abstain from shareholder vote for DBay Advisors's takeover of Telit. Compass holds 1.7% stake in Telit. 1%-shareholder Berry Street Capital Management LLP previously expresses disappointment at company's recommendation of cash offer from largest shareholder DBay "at a price that even the board recognises undervalues Telit and its longer-term prospects". Accepted GBP306.9 million takeover offer from Isle of Man-based asset manager Dbay Advisors Ltd in mid-May.
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Independent Investment Trust PLC - Edinburgh-based trust run by Baillie Gifford - Net asset value ends May 31 at 633.7 pence, up from 547.1p at November 30. NAV total return in six-month period 17% versus FTSE All-Share Index gaining 15%. Declares 3.0p dividend, unchanged year on year. "We commented last year on the outperformance of our computer games companies and the underperformance of our traditional travel and leisure holdings. In the current period this pattern was reversed with our traditional holdings performing strongly and our historical holdings in the computer games industry tending to struggle. Paradoxically, however, it was our new computer games holding, tinyBuild, that delivered the best individual performance following its successful IPO," company says.
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Premier Miton Group PLC - London-based asset manager - Ends third quarter with assets under management of GBP13.61 billion, up from GBP10.61 billion at the start of Ocotber. Year to date inflows from September 30 top GBP710 million while market investment performance adds a further GBP2.29 billion to assets. "It is pleasing to report a third successive quarter of positive net fund flow. The group's AuM reached an all-time high ending the period at GBP13.6 billion representing an increase of 28% from the position at September 30," Chief Executive Mike O'Shea says. Equity funds, fixed income funds and investment trust assets grow, with multi-asset funds the only asset class to see a drop. O'Shea adds: "The group now has a well-diversified portfolio of actively managed and strong performing funds capable of delivering attractive returns for investors. We have a strong business platform capable of managing significantly higher levels of AuM. As a result, I believe that the group remains well placed for this financial year and the years ahead."
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Ilika PLC - Hampshire-based solid state battery firm - Raises gross proceeds of GBP18.0 million from placing 12.8 million shares at 140 pence each. Raises a further GBP3.0 million from a PrimaryBid offer at the same price. Proceeds will go towards accelerating the company's Goliath technology, and support working capital needs. The issue price reflects a 30% discount to Thursday's closing price of 200.00p. Closed at 165.32p on Friday. "Proceeds from the share issue will go towards supporting the development of Ilika's solid-state electric vehicle pouch cells, through its Goliath programme until it exceeds lithium ion battery equivalence, targeted for December 2022," company says.
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essensys PLC - London-based flexible workspace software maker - Raises gross proceeds of GBP31.3 million from placing of 11.0 million shares at 285 pence each. Also makes GBP6.3 million from Chief Executive Mark Furness placing 2.2 million shares at the same price as the placing. Launches open offer of shares at the same price, to raise a further GBP2.0 million. "Net proceeds receivable by the company will be approximately GBP30 million and which will be used to accelerate the company's growth strategy and product development." Chair Jon Lee adds: "We are excited by the long-term growth opportunities ahead for the company and look forward to updating the market on our progress as we deploy the proceeds of our significantly oversubscribed placing."
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President Energy PLC - energy company with assets focused primarily in South America - Hydrogen and ammonia production subsidiary Atome buys 75% interest in a Northern European peer for nominal share value. The company name is confidential at this stage for commercial reasons. "The announcement today further reinforces the determination of President's subsidiary, Atome, to fulfil its strategic objective to geographically expand its green hydrogen and ammonia portfolio to the important European market ahead of the targeted listing of Atome's shares on the London Stock Exchange later in the year," company adds. The new company is yet to start production, but is currently in discussions with the respective national power company for power supply.
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UK Oil & Gas PLC - London-headquartered exploration and production company - Proposes placing to raise GBP4.7 million from open offer of up to 2.64 billion shares at 0.18p per share.
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Vela Technologies PLC - AIM-listed investment firm - Investee St George Street Capital Ltd's ARCADIA trial to test SGS002 has completed its patient enrolment and dosing and has successfully completed the process of data collection and collation. SGS002 is a drug that could be beneficial to diabetic patients suffering from Covid. The final formal report with the results of the trial is expected in late August 2021. "At this time, SGS and Excalibur Medicines Ltd have begun the process of progressing commercialisation plans, subject to the trial data being successful. Analysis is based broadly on a combination of the anticipated mechanism of the drug and the relevant data from the trial endpoints - reduction in mortality, slowing in disease progression, glycaemic and inflammatory reduction," company adds
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By Paul McGowan; paulmcgowan@alliancenews.com
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