TRADING UPDATES: Georgina Energy fund raise; SulNOx nets DLBC deal

Mon, 01st Jun 2026 20:29

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

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Baltic Classifieds Group PLC - online classified ads portal provider in Lithuania, Estonia and Latvia - Says that it will start a new share buyback programme when the existing plan completes. The current plan announced in September 2022, and then extended on in April this year, is expected to reach its authorised limit shortly. The new programme will continue on an ongoing basis under the new authority granted at the General Meeting held last week. This authority expires at the earlier of the conclusion of the 2026 AGM or the close of business on August 27, 2027. This authority may be renewed.

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Oakley Capital Investments Ltd - closed-ended fund offering access to private equity investments of manager Oakley Capital Ltd - Notes all resolutions were passed at Monday's annual general meeting. However, highlights a "material" proportion of votes, 43%, were cast against the re-election of founder Peter Dubens. Oakley says: "The board understands from its shareholder engagement that certain investors have policies of voting against the re-election of directors whom they consider not to be independent." Notwithstanding this feedback, the board "remains firmly of the view" that Dubens, as founder director, brings "invaluable experience, continuity and insight to the company, which is in the best interests of all shareholders."

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Georgina Energy PLC - onshore helium and hydrogen explorer with permits in Australia - Raises GBP1 million via placing at 5 pence per share. Proceeds will be used to advance current work programmes and general working capital. The company will issue 1.2 million broker warrants exercisable at 5 pence and expire five years from the date of admission.

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Powerhouse Energy Group PLC - Bingley, England-based firm focused on turning non-recyclable waste into low carbon energy - Announces retail offer at 0.2 pence per share to raise GBP150,000. Comes after the firm says it raises GBP500,000 via placing at the same price. Proceeds from the placing are expected to provide the company with a cash runway to undertake planned activities for the next 12 months. In particular, it plans to facilitate an acceleration in research and development activities.

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SulNOx Group PLC - London-based green fuel technology developer - Announces a distribution agreement with DLBC SAS, France's leading distributor of lubricants to the agriculture, commercial road fleet, consumer and industrial segments. The partnership marks further progress in pursuing significant revenue opportunities with land-based customers, it says. Merignac France-based DLBC is a key manufacturer and supplier of lubricants to top global OEMs in the agriculture segment. SulNOx Chief Executive Ben Richardson says: "Working with a distributor of national scale that is well-connected with major OEMs and is highly responsive to a constantly evolving market presents an exciting opportunity for Sulnox. We look forward to demonstrating Sulnox Eco's capabilities in agriculture, road transport and far beyond, powered by DLBC's own mission to help businesses battle rising costs and emissions regulation."

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Prospex Energy PLC - London-based oil and gas investment company - Announces that it has entered into a strategic collaboration agreement with the IMMAGE (Investigating Miocene Mediterranean-Atlantic Gateway Exchange) Land-2-Sea drilling project in relation to the Romeral concession. IMMAGE is an international scientific drilling initiative investigating the impact of the Messinian Salinity Crisis on global climate. The investigations will target cores recovered from the wells to be drilled by Prospex within the five well programme which is currently awaiting permits. The coring is funded by the International Continental Scientific Drilling Program. IMMAGE will contribute up to USD1.5 million to cover coring and logging operations of the late Miocene to Pliocene sequence in a subset of the Romeral planned wells - ensuring Prospex incurs no additional costs for this research. "This is a mutually beneficial collaboration for both academic research and industry. The additional core and data will significantly increase our understanding of the reservoir geology and support efficient recovery of the energy resource at Romeral," says Prospex Chief Executive Tom Reynolds.

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Invinity Energy Systems PLC - London-based manufacturer of utility-grade energy storage systems - Announces the sale of a 2 megawatt hour endurium enterprise battery system to a US Department of Energy-funded project located in Wisconsin, US. The 2 MWh battery system is planned to be delivered next year and is anticipated to be manufactured in the US. Invinity expects to receive USD3.4 million out of the USD4.7 million grant to fund the manufacture and delivery of the battery system and support further product development activity relating to the Company's Endurium Enterprise product in the US. The overall project has been awarded funding from the US DOE's Office of Electricity and is being led by muGrid Analytics.

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ZCCM Investment Holdings PLC - Lusaka-based mining investor - London Court of International Arbitration rules that ZCCM should pay USD69.3 million to Trafigura Pte Ltd. In addition, says ZCCM should pay interest of USD19.7 million, while further contractual interest continues to accrue on a sum of USD55.1 million. ZCCM also is due to pay USD1.8 million towards Trafigura's legal costs, 90% of those costs, and GBP73,525 towards the costs of the arbitration. "The company is actively evaluating its legal options regarding the final award and remains committed to safeguarding shareholder interests," it says. In addition, enters into a transaction with Wonderful Group Services Ltd to develop a 2 X 300 megawatts thermal power plant to be held within a special purpose vehicle called Ever Great Energy Co Ltd. Ever Great Energy Co Ltd is a subsidiary company of a Chinese-owned holding company called Wonderful Group Services Ltd. Ever Great is an energy generation company based in Zambia set to produce up to 900MW of thermal power in the long term. The total project cost is USD451.7 million, with ZCCM-IH's consideration USD54.2 million, which will facilitate ZCCM-IH's acquisition of 30% of Ever Great's issued share capital.

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Itaconix PLC - London-based manufacturer of plant-based polymers - Announces progress in its ongoing assessment of crop production applications for its polymer technologies. Says it is evaluating a "promising" polymer this growing season with field trials in the US under the tradename BioVail GRZ 200L. It is working directly with a small number of farms to assess the growth benefits from the application of BioVail GRZ 200L on corn crops. Full quantification of plant growth results is expected after harvest. If the results show potential benefits, Itaconix will progressively increase the size and scope of trials over the next few years to confirm and substantiate claims to support full commercial efforts. Chief Executive John Shaw comments: "Early work suggested there may be opportunities to improve plant growth through nutrient delivery and uptake within plants. These initial field trials are an important next step in evaluating performance under real agricultural conditions. While this work remains at an early stage and will require assessment over multiple growing seasons, we are encouraged to expand our understanding of the broader capabilities of our plant-based polymers.

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Zinc Media Group PLC - London-based television and audio production company - Announces that it has signed terms with Lloyds Bank PLC for a new GBP3.0 million revolving credit facility. The facility has a three-year term and includes an option, to increase it by a further GBP2.0 million. This will further strengthen the balance sheet and provide flexibility to support the "ambitious growth strategy and short-term working capital requirements," company says. In addition, announces it has secured a further GBP1 million of new business since the last update on May 21, which includes the recommission of the BBC ONE series Sunday Morning Live. Chief Financial Officer Laura McGaughey says: "As we look at international opportunities, particularly in the US and Middle East, and also continue to diversify across platforms, having access to a flexible facility will enable us to manage our working capital needs in step with our ambitious growth plans".

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By Jeremy Cutler, Alliance News reporter

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