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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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NewRiver REIT PLC - London-based real estate investment trust - For the quarter ended June 30, notes continuation of "excellent operational performance" from last year. Highlights completion of 177,300 square foot of leasing, with long-term transactions up 14% versus the previous rent and in-line with estimated rental value. Cash position increased to GBP137 million during the period, which NewRiver adds was boosted by profitable capital recycling. In June, the firm completed the disposal of Kittybrewster Retail Park in Aberdeen and Glendoe and Telford Retail Parks in Inverness, the final properties in the Napier Joint Venture, for GBP62.6 million. This brings the total sale receipts from Napier to GBP76.0 million, 26% higher than the price paid when NewRiver acquired the portfolio in June 2019.
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Bens Creek Group PLC - London-based owner of a metallurgical coal mine in the US state of West Virginia - Enters a non-exclusive marketing and sales services agreement with Avani Resources Pte Ltd, a Singapore-incorporated commodities trader and the firm's largest shareholder. Avani holds 30% of Bens Creek. Under the terms of the deal, Avani will market coal produced by Bens Creek. Until now, Bens Creek has undertaken all of its coal sales through Integrity Coal Sales Inc. According to the new deal, Avani will bid for product on similar terms to integrity. It will enter into a separate sale agreement for the sale and purchase of each parcel of coal. Chief Executive Officer Adam Wilson says: "The addition of Avani, who bring tremendous subcontinent expertise (in particular in India, which is set to become the world's largest market), will provide us with both competition for our product and greatly increase exposure of Bens Creek coal within our target market."
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Wilmington PLC - London-based provider of information and training for governance and risk & compliance - For the year ended June 30, expects organic revenue growth of 9%, with revenues around GBP123.5 million. Says recurring revenue up 7% underpinned by strong retention rates. Expects adjusted pretax profit from operations of GBP24.1 million, up 30% year-on-year, and adjusted pretax profit ahead of expectations at GBP24.3 million, up 18% from GBP20.7 million. Expects to publish year-end results on September 25. CEO Mark Milner says: "Over the last two years, the business has seen a solid growth in its international scale and reach which has resulted in our profits growing in each quarter."
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AFC Energy PLC - Surrey, England-based provider of hydrogen power generation technologies - Secures grant of up to GBP4.8 million, from the UK government's red diesel replacement programme. As consortium lead, AFC Energy will be able to recover up to GBP4.3 million of the total GBP4.8 million granted, on a match funding basis. The programme is focused on the construction, mining and quarrying sectors and will provide up to GBP40 million of matched funding. According to AFC, the grant will help it to accelerate the development and commercialisation of its next generation of larger scale hydrogen powered generators. Its consortium partners are Brett Aggregates, which is part of Brett Group Ltd, and Energy Solutions Ltd, a UK-based provider of hybrid battery and energy storage solutions.
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Graft Polymer (UK) PLC - London-based company focused on the development and production of polymer modification, biological supplements, and nano-drug delivery systems - Inks distribution deal with US pet product distributor, Inter-Technologies Inc. Says the agreement relates specifically to the distribution of its GraftBio self-nano emulsifying drug delivery system products. This is the first move in developing its US market exposure. CEO Victor Bolduev says: "This is an important opportunity for the company and is evidence of our ability to forge strong partnerships with leading operators in new markets, opening up additional growth channels. We are excited by the potential for development within the US veterinary sector and are fully aligned with Inter-Technologies In. in playing a vital role in contributing to pet welfare thanks to our market leading technology and unique products."
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Technology Minerals PLC - London-based battery metals mining and recycling - Says that its 48% owned battery recycling business, Recyclus Group Ltd, has received patent pending status from the European Patent Office for its lead paste desulphurisation process. Adds that this has been developed from its recycling facility in Tipton, West Midlands. The next stage will be the receipt of the International Search Report. Chair Robin Brundle says: "We are delighted with the results generated by our innovative new approach to the lead paste desulphurisation process, which we have successfully developed to deliver improvements to our end customers, both in terms of processing costs and reduced levels of hazardous waste gases, which ultimately supports the global push towards NetZero."
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Zephyr Energy PLC - London-based oil & gas exploration and development company focused on the Rocky Mountains in the US - Says the Paradox project is now made up of a 100% working interest across an enlarged 45,000-acre position, with a newly acquired pipeline system and related infrastructure assets now under its control. Has also booked maiden proved reserves, as well as a large contingent resource base. Further, for the year ended December 31, notes growth in non-operated asset portfolio resulting in revenues of USD41.1 million, a near seven-fold increase in revenues from the prior year.
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By Holly Beveridge, Alliance News reporter
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