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Pin to quick picksZenith Energy Share News (ZEN)

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UK TRADING UPDATE SUMMARY: Zenith Latest To Join Global Drive For PPE

Tue, 28th Apr 2020 12:28

(Alliance News) - The following is a round-up of updates by London-listed companies on the impact of the Covid-19 pandemic, issued on Tuesday and not separately reported by Alliance News:

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Zenith Energy Ltd - oil and gas - Identified potential manufacturing facility to make personal protective equipment to export to African countries. Expects order for three manufacturing units capable of producing 50,000 masks per day, to be completed in May. In talks with partner in Republic of the Congo to build facility for hand sanitiser production.

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Erris Resources PLC - mineral exploration - Reports two high-grade gold results from sampling at Loch Tay project, Scotland. Notes prospecting and mapping work ceased temporarily due to lockdown measures in UK to halt the spread of Covid-19.

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UK Oil & Gas PLC - oil and gas - Reducing costs amid the lower oil price environment. Directors to take pay cut between 20% and 50% and looks to raise GBP1.3 million in placing of 637.5 million shares at 0.2 pence each.

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Active Energy Group PLC - biomass renewable energy - Says public comment period for its CoalSwitch plant permit in North Carolina extended to May 27, due to Covid-19.

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Sylvania Platinum Ltd - platinum group metals miner - Says third quarter to March 31 net revenue up 56% quarter-on-quarter to USD43.6 million. Earnings before interest, tax, depreciation and amortisation up 83% to USD32.0 million. Notes lockdown measures in South Africa hit operations with sites placed on care and maintenance until curbs end.

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Goldplat PLC - gold producer - Says Goldplat Recovery Ltd operations in South Africa on care and maintenance amid government-imposed lockdown. South Africa operations achieved third quarter operating profit of GBP843,000. For nine months to March 31, SA operating profit was GBP3.4 million, up from GBP1.5 million a year before. Ghana operations not forced to close due pandemic but not running at full capacity. Company benefiting from higher gold spot price.

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Jardine Matheson Holdings Ltd - conglomerate - Says first quarter trading conditions challenging due to Covid-19. Warns interim results to be "significantly reduced" year-on-year. Jardine Motors first quarter earnings down, Dairy Farm sees boost in grocery demand due to stockpiling but health & beauty sales weaker. Mandarin Oriental struggles as hotels closed due to lockdowns.

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Sure Ventures PLC and Pires Investments PLC - investors - Invest in AI firm Buymie, which allows consumers to place online grocery orders. Sure and Pires note Covid-19 has caused increase in demand for online grocery shopping.

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Aberdeen Standard European Logistics Income PLC - property investor - Notes some tenants experiencing financial difficulty due to pandemic, but three of top tenants by income are in food and pharma sectors and have seen demand boost. Says first quarter rent paid in full, received 67% of second quarter rent so far.

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Picton Property Income Ltd - property investor - Cuts quarterly dividend payments by 29% to 0.625p per share with immediate effect.

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Distribution Finance Capital Holdings PLC - lender - Receives temporary waiver from senior and senior mezzanine loan facilities. Says own loan book performing well and stable. Notes demand at some industrial clients to fall due to Covid-19. Cuts costs, including redundancies and furloughs. Remains committed to bank license application.

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XPS Pensions Group PLC - pensions advisory - Says full-year results to be in line with expectations, with revenue up 9%. Expects demand for discretionary services to continue as pension trustees look for advice amid virus crisis. Has not furloughed any staff.

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Universe Group PLC - retailer payment and loyalty programmes systems - Expects 2019 revenue to rise 13% to GBP22.4 million. Notes its customers are retailers providing essential services. Says hard to forecast impact of Covid-19 with certainty.

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Panoply Holdings PLC - IT service management - Expects revenue and adjusted EBITDA in line with expectations for year ended March 31. Working with a number of clients providing Covid-19 emergency response. Implements hiring freeze but yet to furlough any staff. Will not pay a dividend for financial 2020.

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Smartspace Software PLC - office space management software and hospitality and ticketing platform - Notes SwipedOn New Zealand subsidiary adds function to allow users to manage Covid-19 and enforce social distancing. New Zealand has begun reopening businesses providing they can track visitors and employees, boosting demand for SwipedOn.

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RTC Group PLC - recruiter - Says UK general recruitment and smart-meter installation activities hit by lockdowns but international activities largely unhurt. Reducing cost base, deferring non-essential spend and making use of UK furlough scheme. No dividend to be proposed for 2020 and board and senior management take 20% salary cut.

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Fusion Antibodies PLC - antibody discovery - To raise GBP3.0 million in placing with funds used to go towards existing oncology targets and Covid-19 work. Says results for year to March 31 in line with market expectations, with revenue of GBP3.8 million.

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EKF Diagnostics Holdings PLC - healthcare products - In final stages of establishing UK production line for PrimeStore MTM sampling collection kit. New production line could produce 12,500 sample collection tubes per day. Notes demand for rimeStore MTM boosted by Covid-19.

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Angle PLC - liquid biopsy - Says non-essential screenings and surgical procedures in cancer treatment postponed due to lockdowns globally, highlighting need for Angle's CTC liquid biopsy product. Used lockdown period to progress written documentation aspect of US Food & Drug Administration application.

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Grand Vision Media Holdings PLC - digital media - Says first quarter revenue reduced by Covid-19 and restrictions of movement. Says 2019 revenue fell by a third amid sales hit from Hong Kong civil unrest last year.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Zenith Energy Ltd - Calgary, Canada-based energy company with production, exploration and development assets in Africa and Europe - Decides to end negotiations with the Benin Ministry of Water and Mines for the finalisation of a production sharing contract for Block 1, which contains the Seme oilfield, offshore Benin. Says the board took this decision following a "comprehensive evaluation of recent geopolitical developments in the vicinity of Benin". This is alongside the "significant long-term investment required to successfully develop the Seme oilfield, and the material progress made in other jurisdictions where Zenith now intends to maximise its technical and financial resources with comparatively reduced risk for the company's shareholders".

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IN BRIEF: Zenith Energy agrees to acquire Texas oil & gas interest

Zenith Energy Ltd - Calgary, Canada-based energy company with assets in Africa, Europe and the Middle East - Signs accord for acquisition of interest in Texas oil & gas acreage for around USD50,000. Says seller owns 100% gross working interest, 75% net revenue interest in 320 acres in a oil and gas lease of around 320 acres from surface down to a depth of approximately 800 metres, located in the east half of section 14, block 50 at University Lands in Crockett County, Texas. The seller will retain a carried GW of 10% of all drilling and completion work necessary for the first two wells to be drilled. Confirms its intention to operate the property and conduct oil and gas extraction and exploration activities. The seller has agreed to pay "its proportionate share of all subsequent drilling and completion work to be performed, as well as its share of ongoing operating costs, including workovers".

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2 Aug 2023 14:17

IN BRIEF: Zenith Energy pays off full Vienna bond coupon

Zenith Energy Ltd - Calgary, Canada-based energy company with assets in Africa, Europe and the Middle East - Says it recently made coupon payments, in respect of four multi-currency euro medium term notes, in full and on time. Company had issued the notes on the Vienna MTF. Notes were in Swiss francs, euros, US dollars and Great British pounds.

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10 Jul 2023 11:07

Zenith Energy obtains USD6.5 million account seizure in Switzerland

(Alliance News) - Zenith Energy Ltd on Monday said it successfully obtained a "conservative seizure" for an amount equivalent to approximately USD6.5 million deposited in a bank account in Switzerland.

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(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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4 Jul 2023 16:20

IN BRIEF: Zenith Energy subsidiary awarded EUR30,000 in damages

Zenith Energy Ltd - Africa, Middle East and Europe-focused energy production and development company - On Monday, says its fully owned subsidiary Anglo African Oil & Gas Congo SAU has been awarded a payment of compensatory damages by the Paris Commercial Court in its claim against SMP Energies, the rig contractor that performed drilling services in wells TLP-103 and TLP-103C of the Tilapia oilfield during 2018 to 2019. SMP Energies is ordered to pay EUR30,000 to Anglo African.

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23 Jun 2023 10:42

IN BRIEF: Zenith signs deal with South Sudan for oil and gas licence

Zenith Energy Ltd - Calgary, Canada-based energy company with production, exploration and development assets in Africa and Europe - Signs memorandum of understanding with the Minsitry of Petroleum in South Sudan for a licence negotiation. Says this relates to the acquisition and development of oil and gas production licences.

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7 Jun 2023 08:53

Zenith Energy asks arbiter for USD48 million from Tunisia for harm

(Alliance News) - Zenith Energy Ltd on Tuesday said it filed legal proceedings against Tunisia, accusing the government of harming the commercial interests of investors in the country.

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2 Jun 2023 09:34

IN BRIEF: Zenith Energy to buy various oil production assets across US

Zenith Energy Ltd - Calgary, Canada-based energy company with production, exploration and development assets in Africa and Europe - Signs deal with Stateside Energy LLC to buy a portfolio of oil production and development licences in Oklahoma, as well as certain other states in the US. Says under the deal, Zenith will incorporate a wholly owned special purpose vehicle in the US for the purpose of acquiring oil wells and licence blocks, called Newco. Says Stateside agrees to sell its oil production wells to Newco, subject to the completion of a satisfactory due diligence by Zenith for a nominal consideration.

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26 May 2023 09:11

Zenith Energy shares up on plans to move into US market

(Alliance News) - Zenith Energy Ltd shares were up on Friday, after it said it plans to buy in the US.

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17 Apr 2023 19:43

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(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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14 Mar 2023 13:10

Zenith provides Italian electricity production figures for two months

(Alliance News) - Zenith Energy Ltd on Tuesday provided an update on its electricity production at the Torrente Cigno concession in Italy for February and January.

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