TRADING UPDATES: Macfarlane extends long stop expiry for buyback

Tue, 12th May 2026 19:46

(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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DCI Advisors Ltd - British Virgin Islands-based investor in residential resorts in Greece and Cyprus - DCI believes it has now entered a "decisive" phase in the execution of its strategy to realise value from its asset portfolio and return capital to shareholders. "With Kilada in an active sale process, Apollo Heights nearing completion, Venus Rock approaching closing, and substantial progress having been achieved across operational, tax and financing matters, the board believes the company is increasingly well positioned to advance its objectives," DCI adds. Believes that, given the company's current stage, particularly the ongoing Kilada sale process, "continuity within management remains essential to ensure consistent execution and preserve institutional knowledge."

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RUA Life Sciences PLC - holding company of multiple medical device businesses - Announces the successful spin-out and completion of a fundraise by its subsidiary, RUA Structural Heart Ltd, led by the Leducq organization. RSH raises GBP3 million through issue of convertible note to Leducq. In addition, existing RUA Life Sciences' intercompany debt of GBP4.8 million has been capitalised in convertible note to RUA. On completion of the funding, RUA currently retains 100% equity interest, but board is independent of RLS.

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Corcel PLC - oil exploration and production in Angola and Brazil - Continues to advance the technical and operational workstreams required ahead of drilling the pre-salt exploration well in the onshore Kwanza basin on KON‑16. Current work includes drilling engineering and well design, permitting and regulatory sequencing, long‑lead procurement planning and rig engagement discussions with prospective contractors. These activities remain aligned with the company's internal schedule, supporting a planned drilling window within the next 12 months, subject to final approvals and partner alignment. The company continues to progress its farm‑down process and remains in active dialogue with multiple potential counterparties. The objective is to secure a strategic partner ahead of drilling the pre‑salt exploration well in the onshore Kwanza Basin. In addition, Corcel names Leandro Schujmann as chief financial officer, replacing Scott Kaintz who stepped down at the end of March.

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Strategic Minerals PLC - focused on Redmoor tungsten, tin, copper project in Cornwall - Says drillhole CRD042 was completed on May 6 having intersected the full thickness of the Redmoor sheeted vein system. CRD042 intersected a long intersection containing multiple wolframite (tungsten), cassiterite (tin) and chalcopyrite (copper) mineralised structures, company says. Following closure of hole CRD042 and realignment of the rig, Rig 1 remains in place on the drill pad and commenced drilling at CRD043 on May 7. This is the second of seven planned holes from this pad. "The completion of drillhole CRD042 and successful intersection of a long section of visually logged abundant mineralisation within the SVS is positive. The newly expanded infill and expansion drilling programme, alongside data and sample collection for feasibility study components, is well underway and expected to shift into a new gear upon successful completion of the permitting process," says Executive Director Mark Burnett.

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Dekel Agri-Vision PLC - West Africa-focused agricultural company - Says it has received regulatory approval in Cote d'Ivoire for its prospectus to issue a new bond of up to EUR13.3 million. Book build for the bond, which will have a six-year term, and is being arranged with a syndicate of leading regional financial institutions in Cote d'Ivoire, has started. The new bond will replace existing bonds. In addition, to the bond, Dekel is actively evaluating a range of corporate finance opportunities as the high leverage of the company is a challenge requiring the ongoing support of the key lenders. These include, potential equity injections at the project level and pursuing expressions of interest for the sale of one or more of its operating subsidiaries. In addition, the board would potentially consider the sale of the group. These discussions are ongoing.

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Norcros PLC - Wilmslow, Cheshire-based supplier of bathroom and kitchen products - Continues to review its operations and portfolio as part of the group's strategic priorities, in order to develop a "capital-light, cash-generative bathroom business portfolio focused on mid-premium markets in the UK and Europe." As part of this process, Norcros has decided to explore options to sell its remaining South African business. In the year ended April 2025, Norcros SA generated revenue of GBP99.4 million and underlying operating profit of GBP6.7 million pre central cost overhead allocation. Norcros expects any sale process to take around 12 months. A disposal would complete the strategic repositioning of the group as a "capital-light, brand-led bathroom products business focused on the UK and European markets," it says.

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Macfarlane Group PLC - Glasgow-based packaging and labelling supplier - Extends the long stop expiry date for its share buyback programme from May 29 until the earlier of the end of 2026 or until the GBP4 million programme is completed. Around GBP1.2 million remains to be deployed under the programme. Macfarlane appoints Shore Capital Stockbrokers Ltd to conduct the remainder of the programme on the company's behalf.

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By Jeremy Cutler, Alliance News reporter

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