TRADING UPDATES: DMGT takeover progresses; Pantheon receives permits

Wed, 12th Jan 2022 20:24

(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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Daily Mail & General Trust PLC - London-based newspaper publisher, including Daily Mail, Metro and i - Notes progress regarding Rothermere Continuation Ltd takeover offer. Rothermere has now received acceptances of the final offer in respect of 147.4 million DMGT A shares, around 97% of its issued share capital. RCL will soon post compulsory acquisition notices to those DMGT A shareholders who have not yet accepted the final offer.

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Pantheon Resources PLC - oil & gas explorer with assets in Alaska and Texas - Receives permit required to drill the Theta West well in Alaska has been approved. The Nordic Calista rig is on location at the Talitha well where it will complete works to prepare the well for testing, prior to being mobilised to the Theta West location for the spudding of that well, company says.

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Power Metal Resources PLC - London-based metal discoveries company with projects focused in Africa, Australia and North America - Announces that the two prospecting licences comprising the Tati project have now been successfully transferred into Tati Greenstone Resources Pty Ltd, a wholly-owned private Botswana-based subsidiary of Power Metal. "This is an extremely poignant moment for Power Metal, with the successful transfer of PLs securing Power Metal's first 100% owned project in mining friendly Botswana," Chief Executive Paul Johnson says.

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Verici Dx PLC - Tennessee-based developer of clinical diagnostics for organ transplants - Continues to progress with goals set out at time of IPO. "2022 is set up to be another exciting year for Verici Dx and by the end of the year the Company will have firmly moved from being a Research and Development organisation to one with commercial products. Our products have strong differentiation and our ambition is to create a compelling platform for clinicians to use as they seek to improve and optimise attainable outcomes," CEO Sara Barrington says.

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Seed Innovations Ltd - Guernsey-based wellness and life sciences firm - Updates on portfolio company Eurox Group, which is a German-based, European vertically integrated medical cannabis company. Says AMP Alternative Medical Products GmbH, which holds a non-exclusive marketing and distribution agreement with Eurox, has begun the sale of Dronabinol produced by Eurox, with the aim for Dronabinol to be ready for sale in pharmacies beginning in February 2022. Dronabinol is pure Tetrahydrocannabinol, or THC.

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Panthera Resources PLC - gold exploration and development company with assets in west Africa and India - Sees extensive historic gold mineralisation has been identified by previous explorers at the Kalaka project in southwestern Mali, with drill intercepts of 249.3 metres at 0.54 grams per tonne of gold from 52 metres.

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Haydale Graphene Industries PLC - Ammanford, Wales-based nanomaterial producer - Awarded grant from Welsh government that will enable the company to progress with the development of its anti-counterfeiting ink technology, PATit. Project has total cost of GBP169,000, with 50% covered by the grant.

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Alien Metals Ltd - exploration company focused on Australia, Mexico and Greenland - Update on findings and results on its Phase 3 drilling programme at Hancock iron ore project in Western Australia. Says project continues to advance rapidly. Diamond drilling kicked off on Monday. "The completion of the RC programme, bulk sample and new rock chip sampling before the start of the wet season was a terrific effort by the team and a great outcome for investors. Due to continued availability pressures from the ongoing Covid-19 restrictions within the state of WA, the diamond core drill rig was delayed, but we are pleased that it has now started. The identification of additional untested mineralised ridges is a very exciting development and we look forward to drill testing these over the coming months and identifying even more to develop," CEO Bill Good says.

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abrdn European Logistics Income PLC - European-focused logistics real estate investor - Proposes placing at 110 pence per share in order to meet expected near-term funding requirements and to take advantage of further pipeline opportunities. This follows the acquisition of the Madrid last-mile logistics portfolio for EUR227 million and the resultant deployment of the GBP125 million over-subscribed September equity raise. Company has an expected near-term funding requirement of around EUR142 million. Company's shares closed 0.2% lower to 111.75p each.

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Contango Holdings PLC - natural resource development company - Revises convertible loan note conversion date to July 4. "I would like to thank the noteholders for their continued support. All are existing shareholders and participated in the November 2021 capital raise as well. The funds from the convertible loan, coupled with the November capital raise has ensured we are fully funded to bring Lubu into production at the end of this quarter," CEO Carl Esprey says.

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By Greg Roxburgh; gregroxburgh@alliancenews.com