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TRADING UPDATES: Diversified Energy criticises "opportunistic" report

Wed, 24th Jan 2024 19:05

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

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Diversified Energy Co PLC - owner of US oil and gas wells - Responds to share price, which has fallen 21% to 919.85 pence in London over the past month. Says it is aware of short seller's "recent opportunistic report" repeating claims it has already addressed with stakeholders. Says report "contains numerous inaccuracies, ignores specific financial and operational results and sustainability actions, and is designed for the sole purpose of negatively impacting the company's share price for the short seller's own benefit." Reaffirms commitment to provide year-end trading statement by January 31.

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Plexus Holdings PLC - Aberdeen-based oil and gas engineering services business - Receives USD5.2 million payment from IP license agreement with SLB. Says deal "clearly demonstrates the inherent value of Plexus' IP suite and marks a new level of recognition by SLB". Will focus going forward on "the continuing development of its POS-GRIP friction-grip method of engineering for O&G applications and beyond."

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Public Policy Holding Co Inc - Washington DC-based government and public relations firm - Says its US federal lobbying firms report USD68.3 million in revenue in 2023, up 3.6% from USD65.9 million the prior year. Says firms Forbes Tate, Crossroads Strategies and Alpine have all grown, going "from strength to strength". Adds that these results are despite delays to selection of new majority leader in US House of Representatives early in the year. Chief Executive Officer Stewart Hall says company remains "very well positioned" to capture broader growth in the sector.

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Molecular Energies PLC - Argentina and US-focused oil and gas production company - Updates on fundraising announced earlier on Wednesday. Says it successfully raised GBP650,000 before expenses, pursuant to placing and subscription of 1.9 million shares at 35 pence each. Expects shares to be admitted to trading on AIM on Friday.

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Wincanton PLC - Wiltshire, England-based logistics provider - CEVA Logistics UK Rose Ltd, a subsidiary of French shipping and logistics firm CMA CGM SA, says shareholder Schroders Investment Management Ltd on January 18 provided letter of intent to vote in favour of the scheme of arrangement to facilitate CEVA's takeover of Wincanton. CEVA and Wincanton agreed on the acquisition on January 19. CEVA adds that on Wednesday Schroders reported that it had since disposed of 316,221 shares in Wincanton. Letter of intent now represents 4.18% of Wincanton's issued share capital.

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Verici Dx PLC - Cardiff, Wales-based developer of advanced clinical diagnostics for organ transplants - Says it has successfully concluded bookbuild for placing announced earlier on Wednesday to raise gross proceeds of around GBP6.2 million through placing 69.1 million shares at 9.0p each. Expects admission of placing shares to trading in London to take effect on February 20.

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By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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