(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and Thursday and not separately reported by Alliance News:
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Botswana Diamonds PLC - London-based exploration & project development company focused on Botswana and South Africa - Enters data licence agreement with Petra Diamonds, previous holder of South African Reivilo kimberlite licence which Botswana Diamonds was awarded in September. Deal means Botswana has access to "full library of data on Reivilo held by Petra Diamonds". Petra will get a 3% royalty on any production revenue generated from the Reivilo prospecting licence in exchange.
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Ncondezi Energy Ltd - power development company - Announces strategic review of Tete coal asset in Mozambique. Ncondezi is looking to find an "acquirer or JV partner" to identify possible parties that can find mine coal resources at the project. Chief Executive Hanno Pengilly says: "Following an internal review of the company's operations, the board has resolved to launch a process to identify a suitable organisation who can take the lead on further developing, financing and mining the company's coal resources whilst the company focuses on developing its solar project and renewable energy strategy. This decision follows the ongoing delays in progressing the coal power project, strong export thermal coal prices and positive progress with the company's 300MW solar PV power project."
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CPPGroup PLC - Leeds-based company, which provides products and services for financial services customers - The company has disposed of its "legacy" Mexico business for a nominal sum. "CPP Mexico was established to capitalise on the assumed demand for the group's legacy protection and assistance services in that market. However, after a period of limited new business development and operating losses, CPP Mexico was, in early 2021, placed into run-off. The natural decline in the book will again see the business become unprofitable during 2023 and beyond," CPPGroup says. The company on Wednesday outlined a strategy and management change programme. Its current strategy "as implemented, failed to meet its objectives", hence the need for change. CPPGroup is eyeing exiting legacy businesses and moving into insurance technology. This measure will be fronted by its Blink unit. "The strategy, if executed correctly, will simplify the business and its operations and, moreover, will set out a clear purpose for the group, one that leverages the global nature of Blink's parametric propositions," CPPGroup adds.
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Molecular Energies PLC - oil & gas company focused on Latin America, formerly known as President Energy PLC - Says Puesto Flores facility in Argentina "fully restarted" after temporary disruption. "It is now working up towards full production levels which is expected by the end of this weekend," Molecular adds. "For the avoidance of doubt, the disruption has not affected the previous expectations of the Argentine business being operationally profitable in the relevant quarter."
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Galileo Resources PLC - mining company focused on US and Africa - Notes Johannesburg-listed Afrimat Ltd exercises option to acquire shares in Glenover Phosphate Pty Ltd from current shareholders for ZAR300 million, about GBP15 million. Galileo's South Africa units will get a GBP5.2 million share of the consideration. "The company has elected to receive its share of the Glenover consideration in cash rather than Afrimat shares," Galileo adds.
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SigmaRoc PLC- construction-focused investment company - Says revenue in the nine months to September 30 climbs 19% year-on-year on a like-for-like basis to GBP394 million. Underlying earnings before interest, tax, depreciation and amortisation rise 5% like-for-like to GBP77 million.
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PensionBee Group PLC - London-based online pension services provider - Assets under administration at September 30 third-quarter end up 24% year-on-year at GBP2.79 billion, from GBP2.25 billion. Says "on track" to achieve aims, including positive adjusted earnings before interest, tax, depreciation and amortisation by the end of 2023. Expects annual revenue within GBP17 million and GBP18 million guidance.
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By Eric Cunha; ericcunha@alliancenews.com
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Petra Diamonds (PDL)
Botswana Diam (BOD)
Cppgroup (CPP)
Galileo Resourc (GLR)
Sigmaroc. (SRC)
Pensionbee (PBEE)