TRADING UPDATES: Mattioli buys Caledonia; Arbuthnot lowers STB stake

Mon, 19th Apr 2021 18:01

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

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Mattioli Woods PLC - UK-based wealth management services provider - Buys 100% of Caledonia Asset Management Ltd from its shareholders for an initial GBP960,000, made up of 14,442 new shares and GBP860,000 cash, and potential further consideration of up to GBP640,000 dependent on the attainment of specified performance targets in the two years after completion. In 2020, Caledonia generated revenue of GBP450,000 with a pretax profit of GBP180,000. At December 31 2020, Caledonia's gross assets were GBP270,000 and net assets were GBP190,000. The acquisition is expected to be earnings enhancing in the first full year of ownership, company says. "Working with about 150 private clients with over GBP55 million of assets under advice, Caledonia is based in Edinburgh and employs an experienced team of five staff, all of whom will remain with Mattioli Woods following completion," company adds.

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Esken Ltd - infrastructure, aviation and energy company - In advanced talks to sell shareholding in Stobart Air, as well as Carlisle Airport, to Ettyl Ltd. "There can be no certainty that an agreement will be reached or that the transaction will conclude as it remains subject to final contract matters and approvals. The company will make a further announcement as and when appropriate," company adds.

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Arbuthnot Banking Group PLC - London-based private and commercial banking - Sells further 250,000 shares in London-listed Secure Trust Bank PLC for GBP3.0 million. Arbuthnot will hold 4.4% stake in STB following deal, representing 819,538 shares. "As a result of this sale and its reduced holding, there will be a further reduction in any dividends receivable from Secure Trust. The sale will result in a decrease of GBP110,000 in dividend income for the group, based on the final dividend of 44 pence per share declared by Secure Trust for 2020," company says.

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eEnergy Group PLC - London-based energy efficiency-as-a-service provider - Makes initial cash investment of GBP126,000 into eEnergy Insights Ltd, a newly formed specialist smart metering measurement equipment and analytics business. The investment is in form of loan notes, as well as a nominal equity investment, resulting in a 33% equity interest in EIL. EIL has acquired certain trade assets out of the administration process of Measure My Energy Ltd, or MME. "The assets acquired include proprietary hardware and software, which allow customers to analyse and monitor itemised energy usage data via a live cloud portal. Since MME was founded in 2012, it has deployed thousands of monitoring units across a broad range of business customers in the UK and Far East, including EDF Energy, B&Q, Travelodge, National Grid and Costa Coffee. The book value of the assets acquired was GBP700,000," company adds.

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Directa Plus PLC - London-based producer of graphene nanoplatelets-based products for consumer and industrial use - Notes own new G+ graphene coating for fabrics has been tested by an independent third party laboratory and found to be suitable for human skin contact. Since 2014, company has commissioned 28 tests on different morphologies of G+ graphene, all of which have certified the absence of any negative impacts on biological systems.

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Mode Global Holdings PLC - bitcoin banking app company based in London - Files application with OTC Markets Group for Mode shares to be cross-traded publicly on the OTCQB Venture Market. "Listing on OTCQB would mark a key milestone for Mode as the company's shares would become widely accessible to US investors, helping to boost liquidity, diversify the shareholder register and increase brand visibility for the company globally," company explains. Adds: "The listing would have no impact on existing trading in Mode's shares on the London Stock Exchange's Main Market, and no new shares will be issued as part of the US listing."

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Guild Esports PLC - e-sports business headquartered in London - Wins second major trophy after its Rocket League team achieved first-place in the Rocket League Championship Series. Winnings came to USD30,000. Executive Chair Carleton Curtis says: "Guild Esports continues to go from strength to strength and this latest result has confirmed our Rocket League team to be one of the best in Europe and a true EU championship title contender."

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Power Metal Resources PLC - metals exploration and development in Africa, US and Canada - Secures further short extension to its option to acquire First Development Resources Ltd, an Australian private company with a portfolio of copper-gold focused exploration interests in the Paterson Province in the eastern Pilbara Region of Western Australia. Original option exercise period expired April 8, which is now extended to April 16. A further short extension has now been agreed with the vendors to April 23 which is necessary to allow the Power Metal team sufficient time to finalise due diligence work including work in respect of additional projects in the Paterson Province that may be suitable for acquisition to further build the portfolio.

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Live Co Group PLC - live events and entertainment company - Notes new date for the Pick 'n Pay Cycle Tour that was due to take place in Cape Town in March 2021 has now been confirmed as October 10, 2021. "The race is the largest participation race in the world with up to 36,000 cyclists taking part in normal times. This year's race will be slightly smaller due to Covid restrictions," company says. Company also says Muster Zoo with BrickLive "Big Cats" is now open to the public.

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Mosman Oil & Gas Ltd - oil exploration, development and production company - Confirms proposed workover has now commenced to re-complete the Duff-2 well in a zone which has produced oil at the adjacent Stanley Project in east Texas. Company recently acquired an additional 20% interest to move from 20% to a 40% working interest. The cost of the workover is estimated to be about USD50,000, with USD20,000 net to Mosman.

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Tricorn Group PLC - UK-based manufacturer of pipes - Receives second draw US Payroll Protection Program loan for USD700,000. Has already netted additional GBP500,000 from UK coronavirus business interruption loan scheme, which was added to company's existing invoice discounting facility of GBP3.0 million with HSBC UK.

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By Paul McGowan; paulmcgowan@alliancenews.com