TRADING UPDATES: IAG launches new buyback; Forgent settles legal case

Fri, 15th May 2026 18:23

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

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International Consolidated Airlines Group SA - London- and Madrid-based owner of British Airways, Iberia and other airlines - Kicks off new EUR500 million share buyback after completing the prior programme of a similar size on Thursday. Forms part of a EUR1.5 billion buyback plan announced in February. Morgan Stanley Europe SE and Goldman Sachs Bank Europe SE will implement the programme. Qatar Airways Group QCSC agrees to participate in the programme on a pro rata basis in order to preserve its aggregate stake in IAG. The plan is expected to end no later than September 30.

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Predator Oil & Gas Holdings PLC - Morocco and Trinidad-focused oil and gas company - Raises GBP3 million via placing at 3.5 pence per share. Proceeds will be spent on: deepening the proposed Snowcap-3 well; reactivating the Snowcap-2ST1 and Jacobin-1 wells; buying Guercif MOU-6 long-lead well inventory to maintain the current drilling schedule; and updating its technical package for Corrib South. In addition, reports April net production revenues of USD95,000 in Trinidad 26% ahead of company internal forecast.

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Forgent PLC - London-based provider of syngas technology and engineering services for converting waste into sustainable energy and biofuels, formerly Eqtec PLC - Agrees a full and final settlement in relation to a legacy legal dispute. Forgent was a joint defendant along with five others, including David Palumbo, a director of the company, in a claim brought by SCV North Fork LLC, the original tax-credit investor at the North Fork project. Following mediation, the parties have now "amicably" settled the dispute without any admission of wrongdoing by any party. "The settlement draws a line under a longstanding issue and enables the company to focus fully on executing its strategy," company says.

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ValiRx PLC - London-based life science company - Plans to raise up to GBP1.2 million via a placing at a price of 0.2 pence per share plus GBP5,000 via a direct subscription at the same price from a director.

In addition, ValiRix intends to raise up to GBP150,000 via a retail offer. For each new share issued a warrant to subscribe for one new share will be granted. Proceeds will be used for in-licensing, IP portfolio expansion, preclinical development and expansion of ValiRx Animal Health

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Kendrick Resources PLC - mineral exploration and development company with projects in Namibia and Sweden - Reports high-grade drilling and sampling results from its Teufelskuppe rare earth project in Namibia. The exploration company says a 112-metre drill hole at TK2 returned a weighted mean grade of 3.03 weight percent total rare earth oxides, including more than 17 metres grading above 4.0 wt%, while surface sampling confirmed an average grade of 3.12 wt% across the project. Adds development work is accelerating as it advances Teufelskuppe towards a maiden resource estimate and development studies.

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Bluebird Mining Ventures Ltd - British Virgin Islands-based gold streaming, mining and treasury company - Says in April the company generated its first revenues in its history through its developing streaming and digital asset activities, representing an "important milestone" toward cash-generative operating assets and treasury accumulation. Estimates its current streaming and operating asset value is around USD508,870, comprising existing bitcoin streaming and hashrate-linked contracts. Says that it continues to evaluate a number of gold streaming opportunities in partnership with Raptor Capital International Ltd, and accumulate treasury assets consisting primarily of bitcoin, tokenised gold, physical gold, and cash balances. "We believe the combination of streaming economics, treasury accumulation, and structured real asset exposure creates a differentiated platform with significant long-term optionality," company says.

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By Jeremy Cutler, Alliance News reporter

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