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TRADING UPDATES: CAP-XX raises funds; Shanta Gold dividend

Thu, 21st Mar 2024 20:03

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

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Harmony Energy Income Trust PLC - Great Britain-focused investor in commercial-scale battery energy storage systems - Says Harmony Energy Ltd has granted a first ranking fixed charge over all its shares in the company, around 12.5%, with Triodos Bank UK Ltd. Notes the total facility available to Harmony Energy Ltd is GBP10 million.

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Live Co Group PLC - Surrey, England-based live events, entertainment & sports events company - Chair David Ciclitira enters convertible loan agreement worth GBP1.2 million. Loan now includes the conversion of the GBP350,000 of outstanding debt previously announced in December. Loan covers a 24-month period. Funds have been used to clear creditors. Ciclitira also agrees to extra convertible loan note relating to unpaid fees of GBP336,650. Also provides an additional GBP250,000 of working capital by adding to his convertible loan, bringing the total to GBP1.8 million. Live Co also raises GBP352,000 via placing at 1 pence per share.

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abrdn Property Income Trust Ltd - real estate trust - Reaffirms belief that the all-share merger with Custodian Property Income REIT PLC represents the best outcome for API shareholders. Reiterates unanimous recommendation that shareholders vote in favour of the CREI merger. Chair James Clifton-Brown says: "If the CREI merger is not approved by the requisite majority of API shareholders, the API board has made clear that a managed wind-down is the next best alternative, but API shareholders should not expect the same sale values as for ordinary course disposals."

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CAP-XX Ltd - Sydney-based company, which makes supercapacitors for portable electronic devices - Plans GBP2.0 million placing and subscription at 0.1 pence per share. Funds will be used for working capital requirements. Explains the placing will be undertaken by way of an accelerated bookbuild to new and existing institutional and other investors. Allenby Capital Ltd is acting as the sole bookrunner in respect of the placing. Further, plans GBP200,000 retail offer. CAP-XX says patent infringement legal action has proved to be not only unsuccessful but much more expensive than predicted. In addition, CAP-XX was always advised by its US lawyers that it would not be responsible for certain costs of Maxwell in relation to the litigation. Explains that advice proved incorrect, and CAP-XX is required to pay some costs incurred by the other party. Also notes revenue and cash receipts for the first eight weeks of the year were lower than expected despite the encouraging growth in the order book. Earlier, Thursday, CAP-XX announced it had reached an agreement with Maxwell/Tesla to settle an historic litigation via payments not deemed material.

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Ananda Developments PLC - London-based pharmaceutical firm, which is developing cannabinoid-based medicines for chronic pain conditions - Establishes Scientific Advisory Board to provide expert technical advice and guidance. The SAB Chair will be Clive Page, a non-executive director of Ananda Developments.

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Shanta Gold Ltd - East Africa-focused gold producer - Confirms dividend of 0.15 pence per share will be paid on April 26. Dividend forms part of terms of agreed bid by Saturn Resources Ltd.

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By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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