(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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Science Group PLC - Cambridge-based scientific consultancy services firm - Says it expects revenue for 2020 to soar 28% to GBP73 million from GBP57.2 million and for operating profit to beat its previously upgraded forecast of GBP10 million, up from GBP6.7 million in 2019. Says Finance Director Rebecca Archer will step down to take up a new role after completion of the 2020 results audit. Adds it has hired former Ted Baker interim finance director Sameet Vohra as chief financial officer designate.
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Rotala PLC - West Midlands-based bus operator - For financial 2020 ended November 30, expects to swing to pretax loss of GBP1.0 million from profit of GBP3.6 million the year before despite an increase in turnover to GBP76.0 million from GBP67.5 million. Blames the performance on Covid-19 lockdowns but notes the UK government grant package, the CBSSG Restart, helped its performance. However, it says the provisions of CBSSG Restart and the associated UK Government measures were designed to ensure it makes neither a profit nor a loss until the measures are terminated. As such, it expects to make neither a profit nor loss for financial 2021.
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InnovaDerma PLC - London-based beauty, personal care and life science products firm - Expects revenue for the six months ended December 31 to be around GBP4.1 million, down from GBP5.1 million the year prior, with UK sales declining due to a reduction in beauty category consumption amid the Covid-19 pandemic. Adds it has dismissed Joe Bayer from the role of chair effective immediately with existing Non-Executive Director Ross Andrews to replace him.
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W Resources PLC - London-based tungsten, tin and gold mining company with assets in Spain and Portugal - Draws down further GBP500,000 from its GBP4.0 million Atlas Capital Markets convertible bond facility, the second drawdown since the facility was secured in March 2020. This convertible bond tranche has a 5% coupon and 3-year term. The company will use the cash to advance the Regua mine development and provide additional working capital.
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AssetCo PLC - Middle East-focused provider of management and resources to the fire and emergency services - Says Aberdeen Asset Management Founder Martin Gilbert, Aberdeen's former global head of private markets Peter McKellar, various associates and funds managed by Toscafund Asset Management acquire a 29.8% stake at 475 pence per share. Following the receipt of regulatory approvals, Martin Gilbert and Peter McKellar will join the board as non-executive directors.
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MaxCyte Inc - Maryland-based cell and gene therapies firm - Inks a clinical and commercial licensing agreement with Myeloid Therapeutics to advance Myeloid's cell therapy programmes. Under the deal, Myeloid Therapeutics will obtain non-exclusive clinical and commercial rights to use MaxCyte's Flow Electroporation technology and ExPERT platform. In return, MaxCyte will receive development and approval milestones and sales-based payments, along with other licensing fees. No financial details were disclosed.
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Hutchison China Meditech Ltd - China-based biopharmaceutical company - Enters strategic partnership with Inmagene Biopharmaceuticals to further develop four novel preclinical drug candidatesfor the potential treatment of multiple immunological diseases. The companies will work together to move the drug candidates towards investigational new drug submission. If successful, Inmagene will then move the drug candidates through global clinical development. For each of the drug candidates, Chi-Med will be entitled to development milestones of up to USD95 million and up to USD135 million in commercial milestones as well as up to double-digit royalties upon commercialization.
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By Ife Taiwo; ifetaiwo@alliancenews.com
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