TRADING UPDATES: Datalex renews partnership; Live Co sells tours

Wed, 10th May 2023 13:27

(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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Datalex PLC - Dublin-based software company in digital commerce for travel retail - Renews longstanding partnership with Swiss airline Edelweiss for a further five years. Says the carrier will move to the latest version of Datalex's product suite in order to accelerate its digital retailing strategy. Datalex Chief Executive Officer Sean Corkery says: "This is a landmark renewal for the Datalex and Edelweiss partnership as we lead Edelweiss to the next level of digital transformation, to deliver innovative and future-proofed retail solutions for their customers."

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Live Co Group PLC - Surrey, England-based live events, entertainment and sports events company - Reaches agreement to sell two of its underperforming tours, Mythical Beasts and Outer Space. The tours have been sold for GBP350,000 in staged payments, the first of which has been received. Future payments are expected between June and October. Separately, adds that it has released Jason Lee from his financial obligation for a GBP750,000 investment and is now in active discussions to replace the funding that would have been provided by this investment.

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Velocys PLC - Oxford, England-based sustainable fuels technology company - Says that Altalto Ltd, a wholly-owned subsidiary, has completed the work necessary to claim the first tranche - worth GBP7 million - of its grant from the UK Department for Transport's Advanced Fuel Funds. The whole grant is for up to GBP27 million. Additionally, as planned, the project has obtained the first tranche of private funding for the period from April 1 from its existing private sector participants.

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Hamak Gold Ltd - Exploration and development company operating in Liberia, West Africa - Identifies drill targets after Ziatoyah gold asset survey at its Nimba licence in northern Liberia. Says the survey identified strong geophysical anomalies which are coincident with the high-grade Ziatoyah gold discovery and gold-in-soil anomalies. Priority drill targets have been identified to test these geophysical anomalies and to identify extensions of the gold mineralisation encountered in the first drill hole at Ziatoyah.

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Union Jack Oil PLC - onshore production, development, exploration and investment in the UK - Celebrates "landmark net revenues" in excess of USD15.0 million from the Wressle hydrocarbon development in North Lincolnshire. Says well producing under natural flow with zero water cut. Union Jack as a company continues to be cash flow positive, it notes.

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Hardide PLC - Oxfordshire, England-based developer and provider of advanced surface coating technology - Enters partnership with Gardner Aerospace to coat key wing components for the Airbus A320 family of aircraft. Airbus is currently producing 50 A320 aircraft per month, with plans to increase this to 75 per month by 2026. Hardide Coatings is currently coating similar wing components for the Airbus A330, A380 and A400M aircraft. CEO Philip Kirkham says: "We are very pleased to have been selected to coat further components for the Airbus single-aisle A320 family high-volume production aircraft, and to replace hard chrome plating."

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Cadence Minerals PLC - London-based early stage investment and development company within the mineral resource sector - Hails "excellent start" by Evergreen Lithium Ltd at the Kenny project in Western Australia, where its auger geochemical programme has resulted in the identification of significant and widespread lithium. Cadence holds an 8.7% stake in Evergreen as its largest shareholder. Five priority lithium target zones have been identified.

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Harworth Group PLC - Regenerator of land and property for sustainable development and investment - Sells Towngate Business Park, Widnes and Four Oaks Business Park in Walton Summit, Preston, England for a total of GBP35.8 million, reflecting a blended net initial yield of 4.7%. Towngate Business Park was sold for GBP11.2 million, and the disposals at Four Oaks Business Park comprised a multi-let unit sold for GBP12.3 million and a single unit sold for GBP12.3 million. Harworth says the sale proceeds will be used to pursue other elements of its growth strategy, including increasing the direct development of industrial and logistics space.

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Eurasia Mining PLC - Russia-focused palladium, platinum, rhodium, iridium and gold producer - Notes recent media reports regarding the alleged concerns of the directors about the cash position of the company. Reiterates that nothing has changed materially to Eurasia's cash and cash-equivalent position since it announced last month that it was considering options for the sale of its Russian interests. "The directors have full confidence in the company and its assets," it says

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By Holly Beveridge, Alliance News reporter

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