(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Zenova Group PLC - London-based intellectual property services company for fire safety products - Says it has raised, alongside Peterhouse Capital Ltd, proceeds of GBP677,500 through a placing and subscription of 33.9 million new shares at 2 pence each. The issue price represents a roughly 18% discount to the company's 30-day volume weighted average price for the period ended Thursday. The new shares are expected to be admitted to trading on AIM on March 21. Zenova says the proceeds will "enable the company to progress on substantial order interest for the group's extinguisher products received recently after a major product demonstration day", which was held in early March in Palma, Spain. Shares in Zenova were down 9.4% at 2.40 pence each in London on Friday.
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PYX Resources Ltd - minerals exploration and development company focused on projects in Indonesia - Says revenue was USD22.7 million in 2023, down only USD28,000 from 2022. Loss before interest, tax, depreciation and amortisation widened 8.5% to USD10.0 million from USD9.3 million. Pretax loss was USD10.5 million for the year, 9.8% above USD9.5 million a year prior. Loss per share increased to 2.32 cents from 2.16 cents. Zircon production rose 31% over the year to 11,800 tonnes from 9,100. The company says it remains "very positive" on the global need for an increased zircon supply, and aims to increase sales of the commodity in 2024.
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Flutter Entertainment PLC - sports betting company formerly called Paddy Power Betfair PLC - Enters into incremental assumption agreement to its revolving credit facility agreed in November. This will increase the aggregate principal amount of term B loans under the agreement by USD514.4 million.
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British Smaller Companies VCT PLC - Leeds-based venture capital trust - Says net asset value per share increased 3.3 pence, or 4.0% to 262.6p in the quarter to December 31 from 259.3p, prior to the payment of a 2.0p interim dividend on December 8. During the three months, BSC also invested a further GBP800,000 into Force24, a Leeds-based market automation platform. As at December 31, the company's NAV per share was 83.7p, from 82.4p at the end of September.
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TruSpine Technologies PLC - Crawley, England-based surgical products manufacturer focused on "spinal stabilisation" technology - Chair Geoff Miller says that the company intends to raise further capital, review its corporate governance procedures and refocus TruSpine's business plan. Regarding the need for additional capital, the company has also approved a convertible loan note of up to GBP1.5 million. Further shareholder authorities will be sought at TruSpine's April annual general meeting, Miller says, which will allow the company to raise additional funds through the issue of equity.
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Martin Currie Global Portfolio Trust PLC - Edinburgh-based investment management firm - Enters into closed period, pending the release of its annual results for the year ended January 31, 2024.
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Future Metals NL - Western Australia-focused metals exploration company - Reports pretax loss of AUD2.1 million in 2023, narrowed from AUD4.8 million in 2022. This was primarily due to exploration expenditure dropping 70% to AUD963,123 from AUD3.2 million. Losses per share decreased to 0.49 cents from 1.22 cents. As at December 31, the company had UAD683,260 worth of total assets, down from AUD2.8 million at June 30. Company remains focused on its 100%-owned Panton platinum group metals project, located 60 kilometres north of Halls Creek, Western Australia, which Future believes has the potential to be "one of few long life, globally significant PGM operations in the western world".
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Doric Nimrod Air Three Ltd - Guernsey-based investment firm focused on the leasing and resale of aircraft - Says its subsidiary DNA Alpha Ltd has received a notice from Emirates that it will redeliver the Airbus-861 in "half-life" condition, as opposed to full-life condition, alongside a sum of USD12.0 million to the subsidiary. The lease for the aircraft expires in November 2025.
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United Utilities Group PLC- Warrington-based water supply company - Invites holders of its GBP450.0 million, 2% fixed rate notes due 2025 to tender their bonds for purchase by the company. United says that the purchase price will be determined by next Friday. The company says that it will accept no greater than GBP200.0 million of the bonds.
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Cykel AI PLC - London-based artificial intelligence product and research company - Announces an extended deadline for its acquisition by Mustang Energy PLC, a special purpose acquisition company, to April 12 from Friday. Cykel says that the deadline may be further extended with the consent of both parties. Mustang offered the 1.844 new shares for each Cykel share, though this offer was later upgraded to 1.911 shares.
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Capital Metals PLC - mineral sands exploration company focused on Sri Lankan projects - Announces that Sheffield Resources Ltd, 50% owner of the Thunderbird mineral sand mine in Western Australia, has acquired a 10% stake in the company. Sheffield will make an investment of GBP1.3 million for the interest at 3.62p per share. The deal includes a 12-month option for Sheffield to invest a further GBP844,000 at 4.89p per share. Capital says that Sheffield's investment will support the company in bringing its flagship Eastern Minerals Project, located near Colombo, Sri Lanka, to production. Sheffield will also acquire up to a 50% interest in the project as a result of this transaction.
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European Metals Holdings Ltd - mineral exploration and development project focused on the Cinovec battery metals project in Czechia - In the six months to December 31, EMH says its pretax loss was AUD1.1 million, narrowed from AUD3.8 million a year prior. Income for the period was AUD1.3 million, up from UAD711,428 a year prior. Losses per share narrowed to 0.56 cents from 2.04 cents.
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Compagnie de Saint-Gobain SA - Courbevoie, France-based sustainable construction company - Commences "very low carbon production of siding" at its US manufacturing sites in Kansas, Georgia and Maryland. The company plans to convert all of its US siding manufacturing sites to net zero facilities within the next few years. The company says that its three existing power purchase agreements will provide enough renewable energy to cover over 70% of the electricity demand at its North American industrial sites by 2025.
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By Hugh Cameron, Alliance News reporter
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Zenova Grp (ZED)
PYX Resources (PYX)
Flutter Entertainment (FLTR)
Br.smaller Cos. (BSV)
Future Metals (FME)
Doric Nimrod 3 (DNA3)
Martin Currie Global Portfolio Trust (MNP)
Mustang Energy (MUST)