TRADING UPDATES: Motif Bio takeover called off; Yamana buys at Wasamac

Mon, 14th Jun 2021 20:33

(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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TBC Bank Group PLC - Tbilisi, Georgia-headquartered lender - Says just under 24% of shareholders vote against approval of directors' remuneration report. "The executive remuneration arrangements reported on in the 2020 directors' remuneration report are fully aligned with our directors' remuneration policy, which was approved by 99.9% of our shareholders at our 2018 AGM," lender explains. It continues: "Over the last year, we have engaged with shareholders about executive remuneration in connection with the preparation of the new directors' remuneration policy, which the board notes was approved by 96.2% of shareholders at the AGM. We will continue our active dialogue with shareholders on executive remuneration matters, particularly with those who decided to vote against this resolution, and intend to further consult with shareholders during the coming months to understand their concerns." Also notes 25% of shareholders vote against resolution to disapply statutory pre-emption rights.

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Spectra Systems Corp - Rhode Island-based authentication technology provider - Reports lack of quorum at annual general meeting. Notes only 24% of shares voted, which came from 23 ballots.

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Cadence Minerals PLC - UK-based mineral resources investor - Says 1% investee Macarthur Minerals o spin-out its non-iron ore assets in the Pilbara into Infinity Mining Ltd. Infinity intends to IPO in Australia. "This strategy will fast track further exploration and the future development potential of the Pilbara Assets and allow Macarthur to focus solely on the development of its flagship iron ore projects situated at Lake Giles in the Yilgarn region of south-western, Western Australia," Macarthur explains.

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Braveheart Investment Group PLC - makes strategic investments in companies it thinks will outperform - Notes investee Paraytec's grant funded project to deploy its ActiPix technology in the field of Alzheimer's disease diagnosis is "progressing well". "Prototype instruments are being built, to test blood for protein biomarkers. If successful, these instruments will be used by clinicians aiming to more accurately diagnose patients and monitor their treatment," company adds.

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Yamana Gold Inc - gold, silver and copper miner in Canada, Chile, Brazil and Argentina - Agrees to buy the Francoeur, Arntfield and Lac Fortune gold properties adjoining the company's Wasamac project as well as additional claims in the Beuchastel township to the east of the Wasamac project from Globex Mining Enterprises Inc. Will pay CAD4.0 million, about USD3.3 million, in shares to Globex, with remaining CAD11.0 million, payable over 4 years, to be paid in either cash or shares. On top of that, Globex will receive a 2% gross metal royalty from Yamana, of which 0.5% may be bought back at any time by Yamana for CAD1.5 million, following which the royalty would be reduced to a 1.5% gross metal royalty.

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Secure Property Development & Investment PLC - eastern Europe focused property investor - Signs three agreements over transfer of certain assets owned by SPDI in Romania and Ukraine to Arcona Property Fund NV. Under the terms of the agreements, SPDI will receive approximately 605,000 new ordinary shares in Arcona and about 145,000 warrants over ordinary shares in Arcona, as well as EUR1 million in cash. Says transaction worth total of EUR8.2 million.

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Motif Bio PLC - AIM cash shell - Says BiVictriX Therapeutics Ltd acquisition cancelled after shareholders at annual general meeting vote against several resolutions. As a result, shares will be cancelled from trading on AIM on Tuesday. Has previously proposed name change to BiVictriX Therapeutics and placing and subscription to raise GBP10.1 million via issue of 50.5 million new shares, at a price of 20 pence each. Both of which will now not go ahead.

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By Paul McGowan; paulmcgowan@alliancenews.com