TRADING UPDATES: Avation extends easyJet lease; Abingdon wins deal

Mon, 06th Jun 2022 15:44

(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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Avation PLC - Singapore-based passenger aircraft leasing company - Agrees a 44-month lease term extension on an Airbus A320-200 aircraft operated by easyJet PLC, with the expiry date for the lease extended to October 2026 from March 2023.

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Abingdon Health PLC - lateral flow test developer and manufacturer - Signs deal to supply Taiwanese Arise Corp with 10 million Covid-19 antigen tests. "Abingdon will be launching, in calendar Q3 2022, a new e-commerce site, which will feature a range of lateral flow self-tests and professional-use tests under the Abingdon Simply Test brand. The Covid-19 test is one of these Abingdon Simply Tests," company adds.

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NetScientific PLC - London-based life sciences and sustainability technology investment firm - Portfolio firm PDS Biotechnology Corp granted US fast track designation for PDS0101 to be used in tandem with Merck & Co's Keytruda to treat recurrent or metastatic HPV16-positive head and neck cancer. The regulatory boost was awarded by the Food & Drug Administration.

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Renalytix PLC - London-based diagnostics company focused on kidney health - Says KidneyIntelX product successfully risk-stratified adult sufferers of type 2 diabetes and early-stage chronic kidney disease for outcomes including hospitalisation, heart failure and death.

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MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - Says results from phase II clinical trial for Dementia treatment CogniCann show the product inhibits deterioration of behaviour in Dementia patients. This includes aggressive behaviour and agitation.

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Blencowe Resources PLC - miner focused on developing the Orom-Cross graphite project and Akelikongo nickel project in Uganda - Says final stage five metallurgical test results at Orom-Cross graphite project highlight quality of end product. "Over the coming months, additional post processing work for new potential applications for Orom-Cross graphite products will be completed. This work will support the progressive sales and marketing strategy focusing on both traditional and advanced graphite applications including both Primary and Secondary Battery Markets where is it expected the demand ahead for qualified graphite products will continue to expand and grow," Blencowe adds.

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Vaalco Energy Inc - Houston, Texas-based hydrocarbon exploration company - Drills South Tchibala 1HB-ST well in offshore Gabon. Discovers "significant columns of multiple hydrocarbon bearing sands" at Dentale interval. "With the drilling of the South Tchibala 1HB-ST well and completion in the Deep Dentale interval, Vaalco will add new reserves and production that were not previously in our 2P reserve base," Chief Executive Officer George Maxwell says.

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Oilex Ltd - Perth-based developer of natural gas assets - Says Cambay production in May averages 240,000 standard cubic feet per day of gas. "The majority of the production has been from the C-73 well but production from the C-77H well has been intermittently co-mingled to provide a route to higher production levels," Oilex says. Explains low pressure grid constraints have limited output rates to current roughly 300,000 scfd level. "The low pressure grid constraints are being addressed by the grid operator which will allow for higher production rates from the field," Oilex adds. "All major service and equipment have been secured for the planned C-77H re-frac operation. Currently, the workover rig is scheduled to be mobilised mid-June 2022 in order to prepare the C-77H well for fraccing operations, scheduled for mid-July 2022."

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Kropz PLC - African phosphate developer - Receives South African Reserve Bank approval for ZAR177 million, about GBP9.2 million, convertible equity facility from major Kropz shareholder ARC Fund. Says first ZAR103.5 million drawdown made last week Thursday.

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Coro Energy PLC - London-based gas explorer - Says production at Sillaro field recommences successfully after temporary suspension following a period of unexpectedly hot weather which caused more moisture to be produced. Coro adds: "Changes to the operation of the gas processing facility including the gas stripping rate for glycol regeneration, have seen significant improvements relating to the moisture in the sales gas bringing it well within the specifications required by the pipeline operator."

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Focusrite PLC - High Wycombe, Buckinghamshire-based music and audio products company - Launches Vocaster, an audio tools range of podcasters and other content creators. "The Vocaster range, starting at GBP189, is comprised of two standalone interfaces, Vocaster One and Vocaster Two, and two studio packs, Vocaster One Studio and Vocaster Two Studio. While Vocaster One is designed for the solo podcaster, Vocaster Two is designed for more dynamic shows that feature two hosts and/or audio segments. The studio packs contain Focusrite branded headphones and microphones, enabling users to begin recording high quality podcasts quickly and easily," Focusrite says.

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Schroder UK Public Private Trust PLC - London-based investment company focused on UK companies - Says investee Rutherford Health PLC has taken steps to wind-up company and appoint official receiver. The trust's holding in the oncology services provider was valued at GBP22.8 million on March 31. Due to uncertainty of outcome of proceedings, Schroder UK Public Private writes off the value of its holding in Rutherford, hitting net asset value per share by 2.5 pence.

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By Eric Cunha; ericcunha@alliancenews.com