(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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Jet2 PLC - Leeds-based low-cost airline - Enters new revolving credit facility with Barclays Bank, Lloyds Bank, HSBC UK Bank and NatWest Bank for facilities of up to GBP300 million - which is increased from previous facility of GBP100 million. Notes it has repaid, in full, its short term loan facility of GBP150 million which was due to mature in September 2023. On Tuesday, agrees to buy more aircraft from Airbus SE, to meet the future anticipated growth of its Leisure Travel business. Buys 35 new Airbus A320 neo aircraft, and it has the ability to extend this order for up to 71 aircraft for USD3.9 billion.
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Time Finance PLC - Bath, England-headquartered funding solutions provider - Loan book records fifteenth consecutive month of growth. At September 30, loan book now GBP144.1 million. It adds: "As the lending portfolio continues to grow, total net arrears have continued to fall." Chief Executive Ed Rimmer says: "Our medium-term strategy has a clear focus on substantially increasing own-book lending and strengthening the group's balance sheet. I am therefore delighted to see real traction being gained in both areas over the last half year. This has resulted in the group's own-book lending portfolio now standing at record-high levels; marks the portfolio's full recovery, and more, from the Covid pandemic, and should result in growing income and profit streams for the group over the life of these deals."
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Technology Minerals PLC - London-based company focused on creating a circular economy for battery metals - Signs binding heads of terms to buy remaining shares in lithium-ion battery recycler Recyclus Group Ltd it does not already own. It currently holds 48.4% shares in Recyclus. Will issue 921.5 million shares to complete deal, which will be priced at 4.32 pence each. "The combination of the two businesses offers a differentiated, IP-protected exposure to battery processing, aligning the enlarged business with the energy transition taking place and the circular economy," it says. Adds that it has agreed to proceed as quickly as possible with proposed deal and to negotiate in good faith with a view to signing deal as soon as practicable.
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Amaroq Minerals Ltd - Greenland-focused gold mining company - Proposes placing to raise about GBP30 million, with proceeds to be used to expands its resource base and accelerate exploration activities. Notes proposed placing will "complement" its joint venture with ACAM. Says placing price will be 35 pence. "Net proceeds from the fundraising will be used to expand and delineate the resource base at the company's cornerstone Nalunaq gold project in south Greenland and progress the asset towards mine construction, as well as provide funding to accelerate exploration across the company's significant portfolio of gold assets," it says.
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Uru Metals Ltd - Toronto-based investor and mine project developer - Plans to start geotechnical drilling at its Zeb project, in Limpopo, South Africa. Drilling will follow on the back of a geophysical investigation consisting of a gravity survey to delineate areas of low densities possibly associated with dissolution cavities. Firm invested in project through its 74.8% stake in Zeb Nickel Corp.
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Synergia Energy Ltd - Perth-based developer of natural gas assets in India, Indonesia and the UK, formerly called Oilex Ltd - Says its "analysing and optimising" C-77H gas production rates at its Cambay India operations. "The well continues to clean up with flow rates having increased steadily from 150,000 standard cubic feet per day at the end of September to the current rate of 276,000 and 17 barrels of oil per day gas condensate. An commensurate increase of flowing wellhead pressure to the current 950 psi has also been observed," it says. Adds: "The consistent increase in gas production from the two newly perforated and fracked zones in the C-77H well confirms the company's belief that a fracking methodology has been established that will underpin a full field development."
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By Paul McGowan; paulmcgowan@alliancenews.com
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Time Finance (TIME)
Tech Minerals (TM1)
Uru Metals (URU)
Synergia Energy (SYN)
Amaroq Minerals (AMRQ)
Jet2 (JET2)