(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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Topps Tiles PLC - Leicestershire-based tile retailer - Says retail like-for-like sales up 13% on two years earlier in 13 weeks to June 26. In 11 weeks to June 26, a period without any restrictions, sales up 19%. In two weeks to April 10, when there were trading curbs, sales down 17%. "I'm encouraged by the strength of the group's performance in the third quarter, following the lifting of trading restrictions in mid-April. Building on the initial recovery we reported at the time of our interim results, our Retail sales strengthened further over the balance of the period," Chief Executive Officer Rob Parker says.
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Bermele PLC - London-based special purpose acquisition company - Strikes deal to acquire East Imperial Pte Ltd, which markets premium beverages in Asia-Pacific and US, for GBP24.5 million. Bermele raises GBP3 million in placing. Plans name change to East Imperial PLC amid acquisition. Takeover needs shareholder consent at general meeting on July 16.
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Jadestone Energy PLC - oil and gas production in Asia-Pacific - Agrees with OMV NZ to extend longstop date of Jadestone's acquisition of 69% stake in Maari asset, offshore New Zealand. Longstop date extended to August 31. "Both OMV NZ and the company continue to work to satisfy the remaining outstanding conditions and to complete the transaction," Jadestone says.
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Europa Oil & Gas Holdings PLC - UK, Ireland and Morocco focused oil and gas company - Signs deal with Causeway Geothermal Ltd to assess potential of West Firsby oil field for "sustainable, clean geothermal energy systems". "West Firsby is an excellent opportunity to evaluate, test and prove different technical aspects of CausewayGT's geothermal systems. Located in the East Midlands, West Firsby is late in its productive life with nine wellbores with seven wellheads," Europa says. "CausewayGT will apply its extensive geology and reservoir engineering experience to further develop its geothermal systems with West Firsby as an excellent test location."
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Ariana Resources PLC - London-based gold exploration and development company - Hails "excellent" drilling findings from Kepez North area of Kiziltepe project. "The latest drilling was the first to be conducted in the central part of this unique area and demonstrates, for the first time, the potential for a northwest trending high-grade mineralised shoot, cutting across the main vein structure, and which dips at about 40 degrees to the west," Managing Director Kerim Sener says.
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Getech Group PLC - Leeds-based geoscience and geospatial products for energy market - Reports "significant" sale of geoscience data and a regional study package, valued at USD536,000, to be recognised in current financial year. "Getech continues to trade in line with current market expectations for FY2021," company adds.
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Kefi Gold & Copper PLC - Cyprus-based gold exploration & development company - Says current metal prices present "compelling economics" for its projects. "In my view, gold and copper prices will remain strong. Gold is influenced by low interest rates and monetary expansion globally. Copper's role has also strengthened with the escalating green revolution and the health benefits of its use as highlighted by Covid," Executive Chair Harry Anagnostaras-Adams says.
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Phoenix Global Resources PLC - upstream oil and gas company - Says lender Mercuria increases bridging facility by USD1.5 million to USD42.5 million as talks on new funding continue.
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Gulf Marine Services PLC - Abu Dhabi-based provider of support vessels for offshore oil, gas and renewables industries - Awarded three new pacts, with combined duration of 31 months. "These include a 23-month contract for an E Class vessel in Qatar, commencing in early 2022, and two K Class vessel contracts totalling 8 months commencing in August 2021," Gulf Marine says. "Combined these contract awards brings secured utilisation to 86% for 2021 and 50% for 2022 and orderbook (including options) increases to USD215 million."
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RA International Group PLC - remote site services provider - Concludes talks with Danakali Ltd, Colluli asset in Eritrea, to construct accommodation for 1,200 personnel and other service facilities at the potash project. "The key commercial terms will be released when all approvals have been obtained, which include the Colluli Mining Share Co board and related government departments in Eritrea," RA adds.
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EnQuest PLC - oil and gas production company that operates in UK North Sea and Malaysia - Raises GBP36.1 million through firm placing, placing and open offer.
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Egdon Resources PLC - UK-focused oil & gas exploration and production - To raise GBP1.4 million through subscription of 115.2 million shares at 1.25 pence each. Cash to go towards Wressle field, licence fees and geothermal projects.
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Amur Minerals Corp - natural resources explorer with assets in far-east Russia - Reports Kun-Manie mineral resource estimate update. Global JORC ore tonnage has increased by 19.2 million tonnes, 12%, to 174.3 million. Nickel tonnes up 14%, copper tonnes up 17%. "The newly released JORC resource estimate on the Kun-Manie nickel copper sulphide deposit is a major step in the update to all future study work associated with western market and funding," CEO Robin Young says.
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Zephyr Energy PLC - Newbury, England-based technology-led exploration & production company - Says planned State 16-2LN-CC well in Paradox Basin, Utah, in a suitable place to test natural fracture play. Drilling planned to commence in July. Zephyr says: "Analysis of the twenty overlying reservoirs suggests that all reservoirs are likely to be hydrocarbon filled to some degree, based on the State 16-2 well sidewall core data and petrophysical analysis of several offset wells." Adds: "Of the twenty overlying reservoirs, the company has high-graded eight reservoirs which have adequate thickness for potential future development."
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i3 Energy PLC - oil & gas company with assets and operations in the UK and Canada - In binding sales and purchase agreement to buy 230 barrels of oil equivalent per day of production at Wapiti, Canada. "This production acquisition is expected to complete in early Q3 2021, with a 1 April 2021 effective date," i3 says.
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SulNOx Group PLC - London-based hydrocarbon fuel emulsification specialist - Says Bureau Veritas certifies SulNOx's diesel fuels are compliant with EN16709 as well as EN590 standards. "This is an exciting and major step forward for us as these "Biodiesel Fuels" are critical in the path to Zero Emissions by 2050," SulNOx says.
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Inspired Energy PLC - Lancashire-based energy procurement consultant - Says trading in line with expectations, with new acquisitions Businesswise Solutions Ltd and General Energy Management Ltd performing as planned. "Both are trading in line with management expectations, and are predicted to deliver a positive contribution to the full year 2021," company adds.
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Wildcat Petroleum PLC - seeking investment opportunities in upstream petroleum - Says Angolan upstream oil sector "offers broad investment opportunities". "Its government is now looking towards foreign investment to support the development of its economy following many years of under-investment in its upstream oil sector," Wildcat says. Company says it passes vetting process from Angolan oil watchdog ANPG. Means Wildcat can partake in future licensing rounds.
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Advance Energy PLC - upstream oil and gas company - Says Carnarvon Petroleum Ltd, operator of Buffalo-10 well, updates on drilling. Jack-up rig selected for well and letter of intnent agreed for rig contract. "On the current schedule, drilling of the well is expected to commence in late October 2021," Advance says.
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Red Rock Resources PLC - gold explorer in Kenya and Australia, copper-cobalt in DRC - Says drilling pact awarded at Mikei gold project, Kenya. Enters into deal with Base Drilling & Mining Services Co Ltd for reverse circulation programme at asset.
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Cadence Minerals PLC - London-based investor in mineral resource projects - Says investee Macarthur Minerals makes licence application covering 74 hectares next to Lake Giles iron project, Australia. "The tenure, which is adjacent to the Snark deposit of the Ularring Hematite project, will support Macarthur's non-process infrastructure for its planned direct-shipping iron ore campaign, initially targeting mining of the Snark and Drabble Downs deposits at Lake Giles," Cadence adds. Cadence holds about 1% of Macarthur.
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ADM Energy PLC - natural resources investor - Tips 2020 revenue to fall to GBP800,000 from GBP2.5 million. Gross oil output down to 698,649 barrels from 890,203 barrels.
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Power Metal Resources PLC - London-based metals exploration and development company - Notes "extensive" exploration activities planned for 2021. "It is worth noting that many of our projects now sit on the cusp of potential discoveries. An exciting time for any junior resources company," Power Metal says. "Alongside exploration our corporate work continues at pace focused on the spin-out and IPO activities for certain project interests."
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Aminex PLC - oil and gas explorer focused on Tanzania - Says tendering for 454 kiometre 3D seismic completed at Ruvuma and operator of asset waiting for regulatory approval in Tanzania before issuing seismis acquisition contract. "It is expected that acquisition will now commence later in the third quarter of 2021. The Chikumbi-1 exploration and appraisal well is now expected to commence drilling early in the third quarter of 2022. Assuming a successful outcome from the drilling of the Chikumbi-1 well, first gas from the project is anticipated to occur by the end of 2024," Aminex adds.
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Eastinco Mining & Exploration PLC - Musasa tantalum and tin metal project in Rwanda - Hails "positive gains" during quarter ended June 30. Chair Charles Bray says: "I am particularly pleased to report on the new JV that has been concluded in the South of Rwanda. We now have a solid portfolio of assets with strong potential for economic discovery of these important and valuable critical metals." Also announces delay to 2020 results. Eastinco says: "The directors are working closely with the auditors to ensure that the results are finalised and released as soon as possible during July."
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Velocys PLC - Oxford, England-based fuels technology company - Appoints Koch Project Solutions for engineering, procurement and construction work at for company's Bayou Fuels biorefinery project in Natchez, Mississippi, US. Velocys adds: "This project is expected to produce approximately 33 million US gallons per year (125 million litres/year) of sustainable aviation fuel with negative Carbon Intensity and naphtha made from woody biomass from the pine plantations in the counties surrounding Natchez in Mississippi," Velocys adds.
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Marlowe PLC - London-based business-critical services and software provider - Buys CQC Compliance Ltd, a care quality compliance consultancy, for total enterprise value of around GBP2 million. "CQC is based in Preston, Lancashire, and provides retained consulting services to care homes, surgeries and pharmacies to ensure compliance with health and social care regulations," Marlowe says.
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InfraStrata PLC - London-based strategic infrastructure projects company - Says economic recovery leading to "increasing contract values and higher client spend". Says revenue of about GBP9 million booked in 11 months to June 30. "Growth momentum established within the renewables, cruise & ferry and defence markets," InfraStrata says. Says performing in line with expectations.
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Urban Logistics REIT PLC - investor in UK industrial properties - Proposes placing to raise GBP108 million at 155 pence per share. Adds four million shares to be offered on PrimaryBid in addition. Placing price a 5.2% discount to 163.50p closing price on Tuesday. Urban adds: "The manager, on behalf of the company, has identified a significant pipeline of attractive investment opportunities."
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Brandshield Systems PLC - Israel-based cybersecurity solutions provider - Seals another contract in pharmaceutical industry. "The customer, which is based in Europe, has signed an annual recurring contract with BrandShield to protect several of its drugs from online threats which have become increasingly prevalent during the Covid-19 crisis. These threats cut across standalone websites, social media platforms and ecommerce marketplaces," company says.
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Vertu Capital Ltd - Malaysia-based investment firm - To buy mobile marketing agency Mobio Global for GBP25.3 million. Will be satisfied through issue of 690.5 million shares at 1.2p each. Constitutes reverse takeover. Shares suspended. In 2020, company posts no revenue. Pretax loss narrows to GBP128,829 from GBP150,195.
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Hutchmed (China) Ltd - Hong-Kong-based pharmaceutical company - Closes offering for 104.0 million shares on the main board of the Stock Exchange of Hong Kong. Raises HKD4.17 billion, about GBP388.9 million. Plans to advance "clinical programmes for savolitinib, surufatinib, fruquintinib, HMPL-689 and HMPL-523 through registration trials and potential NDA submissions".
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PureTech Health PLC - Boston, Massachusetts-based biotherapeutics - Founded entity Entity Vedanta Biosciences releases results from study of VE202, potential treatment for inflammatory bowel disease. "All doses of the 16-strain consortium were generally safe and well-tolerated, with no reports of VE202-related serious adverse events," PureTech says. "The results of this study corroborate the findings from other Phase 1 studies using Vedanta's defined consortia and provide a framework to rationally select an optimal dose regimen for Phase 2 studies."
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Miton UK MicroCap Trust PLC - investment firm focused on companies with market cap of less than GBP150 million - Says 2.7 million valid redemption requests received by June 30. To redeem shares at 102.38p each.
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Sure Ventures PLC - investor in early stage software companies - Investee Smarttech247 updates on EUR6 million cybersecurity contract win. "As part of the contract, Smarttech247 will manage, advise and implement security measures and controls that aim to improve the prevention, detection, mitigation, and response capabilities for OT systems, as well as aligning with regulatory requirements," Sure Ventures notes.
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By Eric Cunha; ericcunha@alliancenews.com
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