TRADING UPDATES: No Playtech Caliplay SPAC deal; SigmaRoc sales up

Fri, 29th Jul 2022 21:20

(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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Playtech PLC - Isle of Man-based gambling software development company - Says no longer pursuing deal which would have seen Caliplay acquired by a US-listed special purpose acquisition company. Playtech has option to acquire 49% of Caliplay, which is owned by Mexican betting firm Caliente. Playtech says: "Capital market conditions have deteriorated significantly since the transaction was initially contemplated and, accordingly, this transaction is no longer being pursued in the same manner. However, the company continues to explore alternative opportunities with Caliplay management to build a standalone US gaming business under the Caliente brand focused on the Hispanic community in the US."

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SigmaRoc PLC - London-based investment company focused on construction - Says revenue in first half of 2022 rises 18% year-on-year on an adjusted like-for-like basis to GBP248 million. Underlying earnings before interest, tax, depreciation and amortisation climb 6% to GBP48 million. "Trading in the early part of H2 2022 has started well, with the group benefitting from its broad end market and geographical diversification. Demand remains good both for housing and infrastructure related demand, as well as for industrial minerals. The group has successfully dealt with the various supply chain and inflationary headwinds in H1 2022, with further improvement initiatives planned for H2 2022," SigmaRoc says.

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Nostrum Oil & Gas PLC - Oil and gas company with operations in Kazakhstan - Says first half daily production after treatment averages 14,167 barrels of oil equivalent per day, down from 18,107 a year earlier. Daily sales volumes average 13,102, down from 16,249. However, higher Brent prices will lift revenue. Nostrum expects revenue in excess of USD107 million for first half, up from USD92 million a year earlier. Brent price average USD105 a barrel in first half, up from USD65.2 a year prior.

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Angus Energy PLC - oil and gas development company focused on UK assets - Updates on Saltfleetby project. Says commissioning sequence continues but sees delay due to communications between computer controls at site. "These issues were substantially resolved last night by specialists engaged by the company and its contractors such that we can now resume the commissioning sequence and move towards commercial production," Angus says. "As a precautionary measure, the company has worked with its hedge provider to roll a portion of the Q3 2022 hedge into Q1 and Q2 of 2023. This has allowed the Company to take advantage of the very high forward gas prices and contango to lock a higher average forward sale price at no up-front cost to the company."

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Power Metal Resources PLC - London-based metals exploration company focused in North America, Africa and Australia - Updates on Western Australia and Northern Territory projects, held through 62%-owned investee First Development Resources Ltd. Power Metal says Wallal heritage survey clearance dates confirmed, to take place between August 16 and 19. Power MEtal also says Wallal drilling contract has been signed. DDH1 Drilling Ltd has been called on. It has previously drilled discovery holes for Greatland Gold PLC at Havieron deposit. Power Metal adds: "The in-depth desktop review for the Ripon Hills and Braeside West projects is now complete with multiple targets identified for gold and base-metals associated with deep-seated fault structures confirmed for further investigation." Finally, it says board and advisor group composition has been finalised for First Development. Advisors are now working towards a UK listing planned for later this year.

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Metals Exploration PLC - mineral resources exploration and development company with assets in the Philippines - Says reduction of share capital effective. Says no longer has any deferred shares in issue.

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Great Southern Copper PLC - London-based copper company focused in Chile - Delays results for year ended March 31. "This follows guidance from the Financial Conduct Authority on corporate reporting timetables in light of Covid-19 and will allow the audit to be completed. The Company will announce its full year results in due course," Great Southern says.

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Europa Oil & Gas Holdings PLC - oil and gas exploration, development, and production in UK, Ireland and Morocco - FEL 4/19 licence to remain live until Irish government Department of the Environment, Climate & Communications says otherwise. Europa had announced award of licence in August 2019. Europa adds: "The company has completed all work commitments for the first phase of the licence and in March 2022 applied to DECC for an extension to the first phase in order to carry out further technical studies and allow more time to secure a farm out of the licence. The licence extension application remains under review, and whilst there can be no guarantee the extension will be granted, the DECC has confirmed that the licence will remain live, pending a decision on the application, regardless of how long it takes for DECC to make the decision."

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Ormonde Mining PLC - Irish natural resource company focused on Spain - The Irish natural resource company agrees to sell its stake in the La Zarza copper-gold project in Spain for EUR2.3 million in cash to La Zarza Mineria Metalica. The sale price is at a premium to the book value of EUR2.0 million, with Ormonde netting EUR800,000 on completion of the sale.

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Agriterra Ltd - Guernsey-based agricultural investment company - Secures new debt funding from Magister Investments Ltd, its majority shareholders, worth USD7.9 million. It allows for immediate repayment of USD6.1 million working capital facility owed to an external banking institution. Also allows for cheaper financing of grain purchasing in Mozambique, Agriterra says. "Management estimates that this debt refinancing will enable the company to save approximately USD600,000 in annual interest and fee costs during the first year," company adds.

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Parkmead Group PLC - Netherlands and UK-focused gas explorer based in London - Turns to energy corporate finance advisory firm Gneiss Energy Ltd to help hunt for possible partners at Greater Perth Area development project, which it calls one of the most "undeveloped oil projects" in the North Sea. The core Perth field holds 55 million barrels of recoverable oil equivalent on a P50 basis. "Parkmead is now in a position to launch this farm-out process to seek an industry partner (or partners) for the GPA project," it says.

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Eneraqua Technologies PLC - London-based heating and hot water systems for social housing and commercial projects - Says trading in first half of year ending January 31 "encouraging and we remain on course to deliver on our growth plans". Company adds: "In response to the growing opportunities we are witnessing, we are also investing further in our capability, in particular in people, to enable the group to deliver higher levels of activity in future years. This includes increasing our investment in training and development to bring forward the skills and experience of our people to enable us to deliver an even better outcome for our clients. This has also allowed us to manage the challenges in our supply chain."

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TruFin PLC - London-based financial technology - Enters into five-year commercial agreement with Lloyds Banking Group PLC. The lender will license TruFin unit Satago's software platform for its single invoice finance and whole of book invoice factoring customers. "Satago will receive a recurring fee for each bank customer which utilises its platform, plus one-off implementation fees. Satago expects the software platform to be made available to the bank's customers during Q4 2022," TruFin says.

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By Eric Cunha; ericcunha@alliancenews.com