TRADING UPDATES: HSBC announces redemption of US dollar securities

Thu, 15th Apr 2021 19:37

(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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HSBC Holdings PLC - London-based bank - Announces the redemption of its USD2.00 billion 6.875% perpetual subordinated contingent convertible securities. The redemption price will be USD1,000 per USD1,000 of the securities together with any accrued but unpaid interest.

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RHI Magnesita NV - Vienna, Austria-headquartered supplier of refractory products - Notes appointment of Non-Executive Director Janet Ashdown as an independent non-executive director of Stolt-Nielsen Ltd, listed on the Oslo Bors.

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Blue Star Capital PLC - investment company with a focus on esports, payments, technology and its applications within media and gaming - Says investee Dynasty eSports Pte Ltd achieved its first monthly profit on an operating basis in January. Says Dynasty expects to shortly conclude a round of fundraising in which it is targeting to raise approximately USD5 million. Blue Star retains anti-dilution rights and is considering exercising these rights to participate in Dynasty's fundraising round. Blue Star currently holds approximately 13% of Dynasty.

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Alliance Pharma PLC - pharmaceutical company based in Wiltshire - Says Non-Executive Director Nigel Clifford to step down on April 30 after serving for six years.

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Futura Medical PLC - Surrey-based pharmaceutical company - Receives conversion notice from HT Riverwood Multi-Growth Fund, managed by Atlantis Investment Management Ltd, for GBP1.5 million loan notes. Says following this there will be no further amounts outstanding to Riverwood. Says following the conversion, Futura will issue 7.5 million shares at a conversion price of 20 pence per share.

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CEPS PLC - Bath, England-based investment company focussed on the industrial sector - Says subsidiary Hickton Group Ltd enters a four-year GBP500,000 Coronavirus Business Interruption Loan with Santander UK PLC. Proceeds will be used for general corporate purposes. Says the loan is repayable in 11 consecutive equal quarterly payments starting approximately 12 months after drawdown.

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Tavistock Investments PLC - Berkshire-based investment manager - Says holders of 42% of its shares are against possible Team PLC offer. On Wednesday, Tavistock received letters of intent from holders of 25% of shares saying they will reject the possible all-share offer by Team. In addition, Tavistock board members, who own a 16% stake, would not accept an offer at that level from Team as it significantly undervalues the business. On March 23, Jersey-based investment manager Team announced a possible all-share offer for Tavistock worth GBP15.2 million, or 2.5 pence per share. Tavistock's market capitalisation is GBP15.8 million.

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Diurnal Group PLC - Cardiff, Wales-based pharmaceutical company focused on hormonal diseases - Withdraws application for maintenance of Europe Efmody orphan designation. Says this follows feedback from the Committee for Orphan Medicinal Products, an advisory committee to the European Medicines Agency. "Diurnal has decided that continuing pursuit of an Orphan Designation for the drug would be likely to cause a significant delay in its European commercial launch. First commercial launch is currently anticipated to be in Q3 2021," says Diurnal.

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Emmerson PLC - Khemisset potash project in northern Morocco - Completes phased development plan for Khemisset potash project. Expects "significantly reduced up-front capex" of USD254.6 million. Expects earnings before interest, tax, depreciation and amortisation in first full year of phase four production of USD491.4 million.

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CATCo Reinsurance Opportunities Fund Ltd - investor focused on offering returns from investments linked to catastrophe reinsurance risks - Advised of further side pocket investment release amounting to USD19.2 million. Says it is expected to be paid to the company in May, following which the company intends to use it to carry out a seventh compulsory redemption of its shares.

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Caerus Mineral Resources PLC - exploration & resource development company focused on minerals in Europe to supply global clean energy drive - Says drilling in Cyprus has begun ahead of schedule. Says Mines Department of Cyprus has accepted its applications for the Kapedes and Vrechia extension licences. Says formal granting of licences expected to take several months but will commence reconnaissance geological mapping and sampling in the interim.

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Valeura Energy Inc - Canada-based company engaged in the exploration, development and production of petroleum and natural gas in Turkey - Agrees with TBNG Ltd to amend long stop date for completion of the sale of its shallow conventional gas business for USD15.5 million. Valeura will be entitled to royalty payments over a five-year period, with a minimum royalty payment of USD1.0 million, and maximum of USD2.5 million.

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Chesterfield Resources PLC - copper explorer focused on Cyprus - Announces that it has commenced its 2021 mineral exploration campaign in Cyprus. The company is exploring for further copper, gold, zinc and silver, after its successful diamond drill programme of late 2020. Says 15 percussion drill holes are planned during April and May.

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By Greg Roxburgh; gregroxburgh@alliancenews.com