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TRADING UPDATES: BATM sells subsidiary; Learning Tech buys getBridge

Mon, 01st Mar 2021 19:10

(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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Learning Technologies Group PLC - London-based digital learning services provider - Completes deal to buy learning and talent development software provider getBridge LLC from Instructure Inc for USD50.0 million in cash. Transaction was funded from LTG's existing cash resources. getBridge represents LTG's seventh acquisition since its GBP81.8 million share placing in May last year, taking the money spent to GBP80.0 million. The deal is in line with LTG's aim to deliver annual run-rate revenue of GBP230 million and adjusted Ebit of GBP66.0 million by the end of 2022.

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Oakley Capital Investments Ltd - provides investors with liquid access to private equity returns through investment in the Oakley Funds - Says Career Partner Group completes refinancing with Arcmont Asset Management. OCI's share of proceeds via Oakley Capital Fund III will be about GBP28 million.

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BATM Advanced Communications Ltd - provides technologies for networking solutions and medical laboratory systems - Exercises option to sell subsidiary NG Soft Ltd for NIS105.1 million, about USD33 million to Aztek Technologies Ltd, a provider of ICT cloud services in Israel and a portfolio company of SKY Fund. Intends to invest the proceeds of the sale to strengthen its innovation and commercialisation engine organically and through acquisition to enable the group to accelerate its core activities - in particular, in network function virtualisation and molecular diagnostics.

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RTW Venture Fund Ltd - New York-based investment company focussed on life sciences - Notes Tenaya Therapeutics Inc completes USD106 million Series C financing round led by RTW Investments. The company, alongside other investment vehicles of the investment manager, confirms that it participated in the financing round together with other investment firms. Tenaya is a US-based privately held biotechnology company with a mission to discover, develop, and deliver curative therapies that address the underlying causes of heart disease.

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DP Poland PLC - Domino's Pizza franchisor in Poland - Appoints Malgorzata Potkanska as chief financial officer with immediate effect. Potkanska spent the last four years working as the CFO of Dominium SA. In early January, DP Poland completed reverse takeover of Dominium, a Polish pizza restaurant chain, from Malaccan Holdings Ltd. The acquisition was paid for with DP Poland shares, a EUR1.3 unsecured loan note, and EUR6.2 million in Dominium debt to Malaccan converted into another unsecured loan note. Malaccan will own 45% of the newly enlarged DP Poland.

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Xtract Resources PLC - miner with projects in Mozambique and Zambia - Completes drilling third hole of Phase One diamond drilling programme at Racecourse Mineral Resource on Bushranger porphyry copper-gold exploration project in Lachlan Fold belt, New South Wales, Australia. Starts drill hole four. Drilling starts over the weekend and has reached a depth of 126.7 metres, having entered the outer alteration halo of the deposit earlier than expected at 45 metres, with pyrite-pyrrhotite mineralisation and traces of chalcopyrite. "After further modelling based on the outcome of hole BRDD-21-003, we decided to re-position the hole to obtain a better intersection angle across the deposit. This hole, being 120 metres down plunge of BRDD-21-003, has encountered traces of copper mineralisation at shallow depths well above the target zone," Executive Chair Colin Bird says.

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FastForward Innovations Ltd - technology and life sciences sector focused investor - Invests about GBP17,215 in Cellular Goods PLC IPO, which raised GBP13 million in oversubscribed placing at 5 pence each.

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Haydale Graphene Industries PLC - Ammanford, Wales-based nanomaterial producer - Says Biwater has positively trialled its CeramycShield product at its wastewater treatment site in Nicaragua. "CeramycShield was applied to one of Biwater's primary clarifiers and has shown great results. Biwater will continue to monitor the performance of the product and ongoing discussions are currently taking place for collaboration on future infrastructure projects," company says. Biwater provides sustainable treated water solutions improving water and sanitation provisions.

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MyHealthChecked PLC - Cardiff-based healthcare company and fertility tracking firm - Notes no contract signed for supply of Covid-19 testing kits after its testing service was added to the UK government's approved Covid-19 private testing providers list for general testing, and the test to release for international travel scheme introduced on December 15, 2020. Says is engaged in commercial discussions with a number of parties for the supply of testing kits.

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Robinson PLC - Chesterfield-based plastic and paperboard packaging manufacturer - Agrees GBP12 million in new facilities with HSBC UK Bank. Notes newly acquired Danish subsidiary, Schela Plast AS's borrowings remain with Danish lenders.

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Ncondezi Energy Ltd - coal-fired power project in Mozambique - Says wholly owned renewables subsidiary, Ncondezi Green Power, remobilises construction works at its maiden commercial and industrial, 400kWP solar and 912kWh battery storage project in Mozambique. Also signs non-binding USD500,000 bridge loan term sheet between NGP and certain directors of the company to finance the balance of construction costs to commission the project. Targeting project commission for June.

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Starcrest Education The Belt & Road Ltd - Cayman Islands-based developer and operator of education services - Notes deal to acquire 60% of London School of Science & Technology Ltd will likely not progress until after June 30. "As shareholders are aware, the government has now outlined a roadmap for the UK to come out of lockdown, which will be used in determining the timescale for the resumption of the proposed transaction. It should be noted that until all the due diligence has been completed, there is no certainty that the proposed transaction with the target will complete," company says. Notes funds, totalling GBP1.3 million, "sufficient" to deliver its strategy.

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MobilityOne Ltd - e-commerce infrastructure payment solutions and platform provider - Says wholly owned operating subsidiary in Malaysia acquires remaining 50% shareholding it does not already own in OneTransfer Remittance Sdn Bhd. OTR provides international remittance services in Malaysia. Total consideration for deal is about GBP531,000, paid from existing cash resources.

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By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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