(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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Mind Gym PLC - London-based training and management development company - Expects revenue of GBP24.1 million in the six months ended September 30, up 66% year-on-year from GBP14.5 million. Revenue remained slightly above the GBP23.9 million reported in the comparative pre-Covid period, two years earlier. Says 82% of income was "digitally enabled". Continues to invest in its technological capacities ahead of the planned launches of its new digital products. Expects to release its interim results on December 3.
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Dispersion Holdings PLC - decentralised finance investor using blockchain and cryptocurrencies to remove financial intermediaries from transactions - Acquires Accru Finance Ltd for GBP8.8 million, to be paid via the issue of 250 million new company shares. Accru's sellers will then hold a 29% stake in Dispersion. The company says Accru plans to launch: "the first internationally-regulated and insured platform for the trading and yield farming of cryptocurrencies." Expects to approve the deal at the company's general meeting next Tuesday.
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IXICO PLC- AI data analytics company based in London - Reports revenue of GBP9.2 million in the year ended September 30, down 3.2% from GBP9.5 million a year prior but 5.7% above market expectations of GBP8.7 million. Expects earnings before interest, tax, depreciation and amortisation of GBP1.2 million, in line with market expectations but slightly below the GBP1.3 million taken a year earlier. Notes that this reflects the GBP7.1 million adverse impact of lost revenue from the end of its Huntington's Disease trial in March. Expects lower profitability in financial 2022 as the company invests in long-term sustained growth.
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7digital Group PLC - London-based music licensing provider - Secures GBP1 million expansion to revolving credit facility with Investec Bank. Brings total facility with Investec up to GBP2 million total. Says the enlarged facility matures in September 2023, in keeping with the original terms agreed with the bank in September 2020. Issues 5.4 million warrants with an excise price of 0.55 pence and a lifespan of 36 months, as an arrangement fee to Investec.
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Artisanal Spirits Co PLC - Edinburgh, Scotland-based owner of the Scotch Malt Whisky Society - Signs 10-year lease for a new supply chain facility in Uddingston, Scotland. Says the 37,000 square foot facility will provide the company with greater control over its supply chain, in order to improve its margins over time. It includes warehousing, production and office space, with equipment due to be installed in early 2022. The facility is scheduled to become fully operation in the second half of 2022, the company adds.
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Destiny Pharma PLC - Brighton, England-based clinical stage biotechnology company focused on life threatening infections - Says US hospital-based study supports potential of XF-73 nasal product to reduce intensive care unit infections. The phase 4 study includes 300,000 patients and shows 23% of all ICU infections are caused by the staphylococcus aureus bacteria. Proposes its XF-73 product as an alternative to mupirocin for these infections. Notes current regulatory talks concerning phase 3 studies to obtain marketing approval for XF-73 in the US and Europe.
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ReNeuron Group PLC - Bridgend, Wales-based exosome therapeutics company - Sees first subject treated at Oxford Eye Hospital in a Phase 2a RP trial of its therapeutic candidate for retinitis pigmentosa, a degenerative eye disease. The study uses 2 million cell doses on subjects with some remaining vision, despite having advanced retinitis pigmentosa. Appoints Catherine Isted as chief financial officer and executive director. Notes the departure of non-executive director Chris Evans as he approaches non-independent status after nine years on the board.
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Hemogenyx Pharmaceuticals PLC - London-based developer of drugs for blood diseases - Leases custom laboratory at the Mink Building in New York from The Janus Property Co. Says the new laboratory is close to Columbia University and City College, possibly easing future collaboration. The 10,000 square foot laboratory includes two purpose built clean rooms. The company says the new space will be used to pursue commercialisation of its major cell therapy product candidates by manufacturing cells in-house, starting with its HEMO-CAR-T treatment for acute myeloid leukemia.
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Corcel PLC - London-based mineral explorer and developer with interests in battery metals and flexible energy generation & storage - Acquires Wo Wo Gap Nickel-Cobalt project in Papua New Guinea. Says it acquired the project as it reached a share purchase agreement with Resource Mining Corp Ltd to acquire the entire issued share capital of the project's owner Niugini Nickel Pty Ltd. "Near term priorities at Wo Wo gap will include resource updates, exploring synergies with our Mambare project, and the early securing of long term shipping and offtake arrangements," says Corcel's executive chair James Parsons.
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IGas Energy PLC - Lincoln-based oil and gas producer - Agrees head of terms with Iona Capital Ltd to develop utility scale solar farms in the UK. Initially plans to develop a 25 to 40 megawatt solar farm in southern England, the first of several similar projects. "IGas will contribute its planning and infrastructure expertise, whilst Iona will provide non-recourse project finance. During the development phase, costs will be shared and throughout the project lifecycle, IGas and Iona will each own 50% of the project," the company says.
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Gem Diamonds Ltd - London-based miner - Recovers high quality Type 2, 245 carat Type 2 and 102 carat white diamonds. Says it uncovered the stones from the Letseng mine in Lesotho, "the highest dollar per carat kimberlite diamond mine in the world".
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Ethernity Networks Ltd - Networking and security solutions provider based in Israel - Secures USD3 million order with Chinese broadband network OEM. Says the order is for customised FPGA system-on-chip processors and covers 2022 and 2023. Expecs further orders thereafter. Under the terms of the agreement, the company will supply OEM with its system-on-chip devices with support for four Gigabit Passive Optical Networking Optical Line Termination ports and four 10Gbps XGS-PON OLT MAC ports by the second quarter of 2022. These products support OEM's 5G and fibre access developments.
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Castillo Copper Ltd - Australia and Zambia-focused base metal copper exploration company - Begins drilling at its Arya Copper Prospect in the Mount Isa region of Queensland, Australia. Says drilling follows a significant logistical effort to prepare the drill-pads, heli-lift and other equipment at the site. Plans to drill five initial holes as "proof of concept" at the Arya site and expects to expand the campaign to fully test the area. Focuses drilling on targets identified by BHP in the 1990s, including EG01, EG02 and EG101,2. Notes large a potential 130 metre-thick sulphide bedrock conductor at the EG01 target. Says initial observations are encouraging. Notes concurrent rock chip sampling campaign to extend the known surface anomaly to the south.
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React Group PLC - South Derbyshire, England-based cleaning, hygiene and decontamination firm - Wins GBP230,000 contract to provide specialist deep cleaning services for a rail sector client. The contract runs for 25-weeks through to the end of March 2022, the company adds. "Securing this contract highlights the quality and depth of work being provided by the specialist teams within the group and continues to strengthen our presence in the rail sector," says Chief Executive Shaun Doak.
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Home REIT PLC - London-based real estate investment trust - Spends GBP166.4 million on property pipeline. Acquires 23 portfolios including 366 properties across England and Wales. Funds the purchases with proceeds from its oversubscribed GBP350 million equity issue in September. Says its total property pipeline totals GBP400 million.
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By Scarlett Butler; scarlettbutler@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Gem Diamonds Di (GEMD)
React Group (REAT)
Reneuron (RENE)
Hemogenyx (HEMO)
Ethernity Net (ENET)
Home Reit (HOME)
Destiny Pharma. (DEST)
Mind Gym Plc (MIND)
Castillo Coppe. (CCZ)