TRADING UPDATES: National World buys two companies for GBP11 million

Fri, 29th Sep 2023 17:13

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

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Coral Products PLC - Manchester, England-based specialist in the design, manufacture and supply of plastic products - Approves share buyback programme of up to GBP700,000. Intends to conduct the programme up to the earlier of the company's next general meeting or October 31, 2024. "However, the board will keep the form and quantum of the programme under review while allowing the company to maintain its current dividend policy. The programme will be funded from the company's current cash balances," Coral adds.

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National World PLC - Leeds-based multimedia company - Buys Midland News Association Ltd and Press Computer Systems Ltd for GBP11 million on completion. Says it will strengthen its UK national footprint with a significantly enhanced position in the Midlands. Midland News is the publisher of the Express & Star based in Wolverhampton and the Shropshire Star. The Express & Star and its sister paper the Shropshire Star have a combined daily circulation of approximately 23,000. Press Computer is the supplier of publishing platforms for Midland News and "other major publishers." Chair David Montgomery says: "These iconic and premium brands will strengthen our footprint, improving our Midlands and national rankings in UK media. Our innovations in TV and video, specialist content and our move to greater automation, will enhance the future performance of these new additions to the group."

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Chaarat Gold Holdings Ltd - Gold mining company with an operating mine in Armenia, and assets in the Kyrgyz Republic - Confirms the sale by Chaarat Gold International Ltd of its Armenian subsidiary, Chaarat Kapan CJSC, to Gold Mining Co LLC is approaching completion. Kapan owns the Kapan mining operation in Armenia. Chaarat announced the sale in August, it said it would be sold for USD55.4 million. Among the reasons behind the sale, Chaarat Gold said the significant appreciation of the Armenian dram had led it to review strategic options to ensure the sustainability of Kapan.

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Ediston Property Investment Co PLC - London-based real estate investment trust focused on UK commercial property - Completes sale of its property portfolio to RI UK 1 Ltd, a wholly owned subsidiary of Reality Income Corp, for GBP196.8 million. The sale was approved on Tuesday. Notes that it is the board's intention to seek shareholder approval for the voluntary liquidation of the company. In the meantime, Ediston will add the cash proceeds from the disposal to is existing cash.

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SDI Group PLC - Cambridge-based medical technology company - Says based on trading in the financial year to date together with the outlook for the remainder of financial, expects that the results for the full year will be delivered in line with market expectations. Markets are expecting sales of GBP71 million and adjusted pretax profit of GBP9.8 million.

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Playtech PLC - Isle of Man-based gambling software development company - Confirms that it is currently participating in a process to potentially buy SKS365 Malta Holdings Ltd. "Playtech is aware that there are other parties who are also participating in the Process and who have expressed an interest in acquiring SKS. There can be no certainty that Playtech will be successful in the Process nor that any transaction regarding the potential acquisition of SKS will be agreed," it says.

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IQGeo Group PLC - provider of geospatial productivity and collaboration software for the telecommunications and utility network industries - Wins new customer through competitive tender. Says the customer is a Tier 1 national utility and broadband operator in Southern Europe. The contract is worth EUR8.6 million over six years. Its comprises of software licences valued at EUR4.2 million and the remainder as services. CEO Richard Petti says: "We are delighted that we have been chosen to provide an end-to-end software solution for this prestigious customer. This new tender win demonstrates our competitiveness and how vital our lifecycle network management software strategy is to the success of broadband operators and the confidence they have in the IQGeo team to deliver on their vision."

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By Sophie Rose, Alliance News reporter

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