(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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musicMagpie PLC - Stockport, England-based used-technology reseller - Expands its SmartDrop Kiosk network, starting with three new sites this week. The sites are Manchester Arndale, Cribbs Causeway in Bristol and Willow Brook, also in Bristol. Explains each of the sites are within major shopping centres and together these attract over 50 million visitors per year. "With millions of people visiting each of these new sites every year these will serve to increase brand awareness and promote the service making it easier than ever for customers to trade in their phone for cash," says Steve Oliver chief executive.
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Coro Energy PLC - Leeds, England-based energy company focused on South East Asia - Reports amendment to terms of deal to sell its Italian portfolio, originally announced in March. Zodiac Energy agrees to make a further cash advance of EUR700,000 within 10 business days, taking the total advanced to Coro to-date to EUR2.5 million. This will enable Coro to proceed to buy a met mast in the Philippines to support 12 months of wind data to build the technical and banking case for the 100 megawatt utility scale onshore wind project alongside funding Duyung FEED spend and general working capital. Coro agrees to reduce the sum due at completion by the additional advance plus a further EUR140,000. In total, the potential consideration for the deal is now EUR7.4 million, down from the previous EUR7.5 million. Adds approval of the sale by the Italian regulatory authorities is progressing well.
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Riverstone Credit Opportunities Income PLC - London-based energy infrastructure and energy transition credit investor - Reports net asset value per share at June 30 of USD1.07, up 4.9% from USD1.02 the year prior. Total income in the six months ended June 30 fell 3.4% to USD3.7 million from USD3.83 million and earnings per share eased by 3.8% to 4.02 cents from 4.18 cents. Keenly aware of the discount at which the shares trade. Working "assiduously" on a number of initiatives to reduce the discount including active asset management and proactive and frequent engagement. Further, declares dividend of 2 cents.
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Tirupati Graphite PLC - London-based natural flake graphite producer which has operations in Madagascar and Mozambique - Receives around USD1 million from existing clients, to support the ramp-up of operations. Follows successfully closing deals with clients in the US and Europe with 100% upfront prepayment for orders placed. Orders are to be shipped over a six-month period and represent around 15% of the sales expected over the six-month period. Plans to use funds to bridge gaps in cash requirements for ramping up its production and sales.
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eEnergy Group PLC - Net zero energy services provider - Increases ownership in its subsidiary, eEnergy Insights Ltd, which holds the group's smart metering and analytics platform, to 100% through the acquisition of two minority holdings. Related to this, issues 1.4 million shares at 0.3 pence each.
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Tintra PLC - builder of banking and infrastructure technology systems - Says company has instructed fund transfers to settle the agreement with Fintech Leaders Fund announced on July 5. But adds the transfer to the UK is taking longer than expected. Expects the agreement to complete in due course.
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Pharma C Investments PLC - New Jersey-based early-stage investor in the medical cannabis industry - Receives fine of GBP30,000 from the Aquis Stock Exchange Ltd. Fine is payable in two parts, GBP15,000 immediately while a further GBP15,000 will become payable should the company fail to comply with the Aquis Growth Market Rules at any point in the 12 months. Fine and censure follow company's failure to update investors in a timely manner that it had not received the funds detailed in a release on June 30. Further, company did not convene an annual general meeting within the time frame set out in the Companies Act 2006 and failed to publish its interim accounts when due on September 30, 2022 whilst it attempted to secure funding, meaning investors did not have access to the most recent financial information.
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By Jeremy Cutler, Alliance News reporter
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Coro Energy (CORO)
Riverstone Cred (RCOI)
Tirupati Graph. (TGR)
Eenergy Group (EAAS)
Musicmagpie (MMAG)