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TRADING UPDATES: Longboat Energy extends loan for drilling programme

Tue, 13th Dec 2022 16:50

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

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Cap-XX Ltd - Sydney-based maker of ultra-thin prismatic and cylindrical supercapacitors - Adds coin cell supercapacitors to its product portfolio, replacing button cell batteries and the battery holder to provide real-time clock back-up power. Says the 5.5 volt coin cell supercapacitors have quick response and recharge times, and offer higher power than batteries and greater energy density than aluminium electrolytic capacitors.

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React Group PLC - Birmingham, England-based cleaning, hygiene and decontamination firm - Says LaddersFree cleaning business reported turnover of over GBP1.0 million in the three months to August 31. Its hygiene & maintenance division is "performing well", and the emergency & decontamination division has continued "strong recovery" seen in the second half of financial 2022. Says trading in the last three months of financial 2022 and into the current financial year has been strong, with all divisions continuing to win a range of business providing positive margin contribution and cash generation.

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Longboat Energy PLC - London-based North Sea-focused exploration and production company - Extends exploration finance facility loan with its lending banks to NOK800 million, around GBP65 million, from NOK600 million to finance Longboat's drilling programme in 2023 and beyond. Current drawings under the facility will be repaid fully from its Norwegian tax rebate due in November 2023. New terms extend the availability period to the end of 2024. Delivered a five well Norwegian exploration programme in-line with forecast expenditure, and estimates its year-end 2022 cash position to be around GBP9 million.

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Shield Therapeutics PLC - Gateshead Quays, England-based commercial-stage pharmaceutical firm - Raises USD18.5 million equity fundraise after placing and subscribing shares to raise GBP14.7 million in aggregate at 6.00 pence per share. Makes an open offer to qualifying shareholders of up to 64.4 million new shares at the issue price to raise a further GBP3.9 million. Extends existing convertible shareholder loan facility with shareholder AOP Health International Management AG by USD10.0 million. AOP subscribed for 68.6 million new shares, representing 97.7% of the existing issued ordinary share capital of Shield Therapeutics.

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Savannah Energy PLC - Africa-focused energy company - Says its acquisition of ExxonMobil's interest in the Doba fields and the Totco Pipeline completed on December 9 was conducted in "full conformity" with the requirements of the governing documents and the applicable law.

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Caerus Mineral Resources PLC - copper miner in Cyprus - Enters into an exclusive option agreement with EV Metals Group PLC to acquire 90% of its Riwaq Al Mawarid for Mining subsidiary. Says the deal forms its strategy to invest in larger-scale opportunities through its partnership with EV Metals. Caerus to pay a fully-refundable GBP500,000 deposit in return for an extendable three-month due diligence period of Riwaq's portfolio. The final transaction value is dependent on the Caerus's assessment of the Riwaq licences and a final negotiation stage.

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Atlantic Lithium Ltd - African-focussed lithium exploration and development company - Awards a contract for the processing plant Front-End Engineering Design for the Ewoyaa Lithium Project in Ghana, West Africa to engineering firm Primero Group, a subsidiary of NRW Holdings Ltd. Says the contract is worth USD980,000 which will be paid in accordance with the three-stage earn-in agreement Atlantic Lithium has with Piedmont Lithium Inc to fund the project towards production.

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By Jaskeet Briah, Alliance News reporter

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