(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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Alpha Real Trust Ltd - Guernsey-based property finance investor - Completes sale of special purpose vehicle which holds Cambourne Business Park, Phase 1000. Nets cash of GBP2.1 million from sale, a return above the company's latest book value for the investment.
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NFT Investments PLC - invests in non-fungible tokens - Submits initial listing application to list shares on the Neo Exchange Inc, a Canadian stock exchange based in Toronto. "NFT Investments believes the dual listing on the NEO Exchange will provide exposure to a wider pool of retail and institutional investors in North America," company says.
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Beximco Pharmaceuticals - Bangladesh-based pharmaceutical company - Receives delivery of 2.5 million Covid-19 vaccine doses from Serum Institute of India for distribution in Bangladesh. To date, 15 million doses have been delivered to Bangladesh. Under the terms of the original agreement, 30 million doses are to be delivered in total.
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AdEPT Technology Group PLC - London-based information technology provider - Says new subsidiary Datrix wins "strategically important" contract with unnamed "leading global financial services business". The managed services cyber security package is worth GBP1 million to company over the next three years and is the second international contract to be secured by the recently acquired business.
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Inspecs Group PLC - Bath-based eyewear design house and manufacturer - Acquires the partnership assets and liabilities of BoDe Design Vertriebs GmbH & Co KG, a distributor of optical and sunglasses frames principally to the German market. Inspecs is currently the largest supplier to BoDe and will pay an upfront cash consideration of approximately EUR1.8 million from existing cash resources and deferred cash consideration based on financial performance over the next three financial years. BoDe is expected to generate revenues of approximately EUR3.8 million in 2021 and the acquisition is expected to be earnings enhancing in 2022, company notes.
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Sureserve Group PLC - Basildon, Essex-based compliance and energy services, focused on UK public sector - Acquires entire issued share capital of CorEnergy Ltd, a business focused on delivering sustainable energy solutions for public and private sector organisations. Will pay maximum of GBP7.5 million for CorEnergy, with initial GBP5.9 million paid through GBP2.9 million cash and issue of 3.3 million shares at 89.4 pence each. Further deferred consideration of up to GBP1.6 million may be payable, split equally between cash and shares, depending on CorEnergy's full year results for 2021.
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Hurricane Energy PLC - Surrey, England-based oil producer - Says subsidiary Hurricane GLA completes repurchase of USD15.0 million of company's USD230.0 million 7.50% convertible bonds due 2022, which leaves USD152.0 million outstanding. "The company will continue to evaluate its liability management options which may include further bond repurchases from time to time, subject to market conditions," company says.
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Mosman Oil & Gas Ltd - New South Wales, Australia-based exploration, development and production company - Notes Winters-2 well is being recompleted in the upper few feet of the current Wilcox zone to limit the production of water. Believes zone has demonstrated the potential to produce oil, gas and water but says the water is coming from the lower part of the perforated zone. Also, carrying out testing at on the first potential zone in the lower most part of Stanley-5 well.
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By Paul McGowan; paulmcgowan@alliancenews.com
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Alpha Real (ARTL)
Beximco Pharma (BXP)
Mosman Oil Gas (MSMN)
Inspecs Group (SPEC)