TRADING UPDATES: Breedon buys Micromix; Marlowe acquires Alarm

Tue, 01st Jun 2021 17:43

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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Breedon Group PLC - construction materials company - Buys Micromix (Northern) Ltd which trades as Express Minimix, a concrete operator based out of Durham. The company operates a fleet of 25 mixer trucks, specialising in delivering small loads of ready-mixed concrete and screeds, up to four cubic metres, to commercial and domestic customers across the North of England and parts of Scotland. Express Minimix complements Breedon's existing businesses, which currently operate throughout the Midlands, East Anglia and parts of Southern England.

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Marlowe PLC - business-critical services and security software provider - Acquires Alarm Communication Ltd, a Surrey-based provider of fire safety & security services, for up to GBP7.3 million. The total enterprise value comprises an upfront cash consideration of GBP6.0 million in addition to performance-related contingent consideration of up to GBP1.3 million following the first year of ownership. The acquisition will be funded from Marlowe's existing cash resources.

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JTC PLC - fund management services provider - Reports completion of its acquisition of Indos Financial Ltd and its subsidiaries. The company says it will issue 176,783 new shares in relation to the acquisition. Following the admission, JTC will have 133.3 million shares overall.

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Renew Holdings PLC - engineering services firm - Says its subsidiary QTS Group Ltd has acquired Rail Electrification Ltd for up to GBP5.3 million in cash. The initial consideration for the Acquisition was GBP3.0 million in cash, with further deferred cash payments of up to GBP2.3 million payable between now and September 2024, conditional upon the achievement of certain targets. The consideration has been funded from Renew's existing cash resources. Renew says Rail Electrification brings complementary capabilities to Renew's existing rail offering and will enable the company to further capitalise on the planned increased level of investment by Network Rail into rail electrification.

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Chariot Oil & Gas Ltd - Africa focused energy company - Says all conditions related to the acquisition of Africa energy management platform have now been satisfied and completion of the transaction is expected imminently. Initial consideration payable on completion is USD1.2 million in Chariot shares and USD90,000 in cash.

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Fulcrum Utility Services Ltd - energy and multi-utility services provider - Confirms the completion of the transfer of the third tranche of its domestic customer gas connection assets to ES Pipelines Ltd on Tuesday, for GBP3.8 million. The cash received strengthens Fulcrum's balance sheet, it says, and supports its strategy and growth ambitions.

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Schroder British Opportunities Trust PLC - investment company - Invests into Easypark Group, the European mobility company that helps drivers to find, manage, and pay for both parking and electric vehicle charging. The trusts says it invested via its co-investment partner Verdane. Schroder British Opportunities Trust's investment provides part of the financing for Easypark's acquisition of Park Now Group from BMW AG and Daimler Mobility AG, which has completed Tuesday. Park Now operates under the brands RingGo, Park Now, Park-line and ParkMobile with 43 million users in 11 countries, including the UK.

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Blackstone Loan Financing Ltd - Jersey-based investor - Appoints its joint brokers Winterflood Investment Trusts and N+1 Singer Capital Markets Ltd to manage a new share repurchase programme, which will run until the company's forthcoming annual general meeting, to be held on July 23. The company says it intends to buy up to 5 million shares at EUR0.75 per share.

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Baillie Gifford China Growth Trust PLC - investment company - Completes placing launched on May 5, with 2.4 million shares at a price of 473.42 pence each issued, a 3.2% discount to the share price prior to the launch of placing. The company raises a total of GBP11.4 million. Following the admission, the company will have 61.8 million shares overall.

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Chrysalis Investments Ltd - investment company - Says FinanceApp AG, the Berlin-based insurance company, raises USD650 million for its series C funding round. FinanceApp intends to invest the proceeds in strengthening its presence in existing markets and expanding globally within the next two years. Chrysalis says it participated in the funding round with an investment of EUR30 million. This takes the company's total investment in FinanceApp to date to EUR74.4 million.

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Close Bros Group PLC - company which provides lending, deposit taking, wealth management services - Offers holders of its outstanding GBP175.0 million callable dated subordinated notes to tender them for cash. The offer is in conjunction with an issue of new notes. The purchase price for notes will be determined on June 9. Close Bros said it will also pay an accrued interest payment in respect of any notes accepted.

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Pires Investments PLC - investment company focused on next generation technology - Reports further investment in Getvisibility, an artificial intelligence-based data discovery platform company. Getvisibility has secured a EUR1.1 million equity funding round led by a new investor Herb Hribar, a director of AI-based operations technology provider ScienceLogic Inc. Pires says it is investing EUR62,000 to maintain its current shareholding. Following this funding, Pires will have a total interest of 10% in Getvisibility.

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Triple Point Energy Efficiency Infrastructure Co PLC - investment firm - Completes an investment in Spark Steam Ltd, a company which owns and operates a combined heat and power asset. Under the terms of the investment, Triple Point says it has provided GBP8 million of senior debt finance secured against Spark Steam, the underlying assets, equipment, and contracts. The interest rate is 7.375% per annum, and carries a term of ten-and-a-half years, amortising over the term.

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Oakley Capital Investments Ltd - investment company - Says its Oakley Capital IV2 has agreed to invest in ICP Education Holding Ltd, a group of UK children's nurseries. Oakley Capital Investments' indirect contribution via fund IV will be GBP27 million.

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Galileo Resources PLC - company which acquires databases generated by other companies - Agrees on a placing with retail investors of 133.7 million shares at a price of 1.50p each to raise GBP2.0 million before expenses. The placing price is at a discount of 11% compared to the closing mid-market price of 1.68p on Friday last week. The net proceeds from the placing will be used to fund the next stage of exploration development on its copper/silver licences in the Kalahari copper belt of Botswana.

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Sareum Holdings PLC - drug development company - Raises GBP900,000 before expenses through a subscription by an individual for 32.1 million new shares at a price of 2.8p each. The subscriber will also be issued one five-year warrant, exercisable at the subscription price, for every five subscription shares, which can only be exercised following the company's closing middle market share price being above 5p per share for five consecutive days. The subscription price is at a premium of 8% to the closing middle market price for Sareum shares on Friday last week. The net proceeds from the subscription will be used to progress the company's SDC-1801 TYK2/JAK1 inhibitor drug development programmes as well as for working capital purposes.

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Verditek PLC - green technology company - Issuing a corporate "green" bond to raise up to GBP500,000. The bond, yielding 7%, is being issued through crowdfunding platform Crowd for Angels, which is underwriting the first GBP225,000. The bond term is two years and interest will be paid quarterly. Verditek says it will also issue to Crowd for Angels ten warrants for each GBP1 invested for a term of 36 months to subscribe for new shares at the closing bid price immediately prior to the date of the loan note agreement. The closing bid price on Friday last week was 3.1p.

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Live Co Group PLC - events and entertainment company - Says its lender has agreed to convert a further GBP30,000 of the loan into shares of the company. Following conversion, GBP90,823 of the loan will remain outstanding.

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Goldstone Resources Ltd - gold exploration and development company - Says Paracale Gold Ltd has exercised warrants to subscribe for 32.4 million new shares, comprising, 20.4 million new shares at a price of 1.2p and 12.0 million new shares at a price of 3p. The warrant conversion will be set against the related USD1.2 million loan provided to Goldstone Resources by Paracale in December 2018, which accrues interest at a daily compound rate of 6%. Accordingly, the amount due as part of the warrant conversion is GBP244,229, which reduce the total amount of principal and interest outstanding under the loan to USD1.0 million.

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Allied Minds PLC - American intellectual property commercialization company - Says portfolio company OcuTerra Therapeutics Inc has announced a second closing of its series B funding round. The second close includes an additional USD9 million, taking the total proceeds of the series B funding round to USD23.6 million. Proceeds from the round will be used to prepare for, conduct and report on the results of a future phase II clinical trial of its OTT166 asset, among other working capital needs. Following the second closing, Allied Minds' stake in OcuTerra is 22% and fully-diluted ownership is 17%.

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Zenith Energy Ltd - oil & gas production company focused on Africa - Undertakes some debt reduction activities. Zenith says, following recent repayments, the current liability in relation to the USD2.5 million convertible loan facility now stands at USD600,000. The company also had an outstanding credit agreement with a financial institution in Azerbaijan for USD25,000 plus accrued interest payable by June 30. Zenith confirms that this liability has now been settled in full.

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BBGI Global Infrastructure SA - infrastructure investment company - Secures a new committed multi-currency revolving credit facility of GBP230 million from ING Bank, DZ Bank, KfW IPEX-Bank and SMBC Bank. The facility will replace the current GBP180 million facility with ING, DZ, and KfW which commenced in January 2018 and matures in January 2022. The tenor of the new facility will be five years, commencing in May 2021. Under the new facility, BBGI will have increased flexibility to consider larger transactions by virtue of having structured a further uncommitted GBP70 million incremental accordion tranche, for which no commitment fees will be paid. The multi-currency facility will be used primarily to fund acquisitions and provide letters of credit for investment obligations.

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By Evelina Grecenko; evelinagrecenko@alliancenews.com