TRADING UPDATES: Patent boosts for DG Innovate and Arecor Therapeutics

(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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Arecor Therapeutics PLC - West Sussex, England-based commercial biotechnology company - European Patent Office grants patent for EP3618840. Patent covers formulations of Arecor's insulin products AT278 and AT247. Arecor adds: "The European patent adds to a comprehensive global intellectual property portfolio protecting the group's novel insulin products and follows additional patents of similar scope recently granted in Australia, India and Mexico."

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DG Innovate PLC - Caerphilly, Wales-based electric mobility and energy storage company - China National Intellectual Property Administration issues firm with its first-ever Chinese patent. DG's maiden Chinese patent covers its Pareta electric drive system. "This grants DGI intellectual property rights for this technology in China, allowing the Company to expand its footprint in the world's largest market for electric vehicles," DG adds.

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Strip Tinning Holdings PLC - Birmingham, England-based provider of electrical connectors for automotive sector - Says 2023 performance in line with market expectations. Predicts revenue rise to GBP10.8 million from GBP10.2 million and a swing to adjusted earnings before interest, tax, depreciation and amortisation of GBP100,000, from a loss of GBP2.2 million in 2022. Strip Tinning adds: "Having raised gross proceeds of GBP5.1 million following the completion of the company's recent fundraise, this leaves Strip Tinning with the resources necessary to capture the considerable opportunities in its sales pipeline across the EV battery pack market. Ongoing commercial progress was made in Q4, having announced new nominations across both the Glazing and EV divisions. The new business pipeline continues to build amidst a positive outlook across the automotive sector. The European Automobile Manufacturers Association report that over nine million cars were produced in the EU in the first three quarters of 2023, a 14% increase against the same period in 2022."

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National World PLC - national, regional and local multimedia organisation - Revenue in year ended December 30 up around 4.6% to GBP88.0 million from GBP84.1 million. Digital revenue alone rises 13% to GBP18.4 million. However, print advertising shrinks around 1.0% to GBP30.6 million. "The group has managed costs carefully throughout the year enabling it to support digital investments, mitigate the impact of inflationary cost pressures and also moderate the decline of heritage print revenue," it adds.

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NewRiver REIT PLC - London-based real estate investment trust - Hails "another quarter of positive leasing performance". Says record occupancy level of 97.9% maintained in third-quarter to December 31. "Our strong operational performance continued into the third quarter, reflecting that our occupational market is, in our opinion, in its best shape for five years. This view is endorsed by the Christmas trading results reported to date by NewRiver's top 10 retailers, including B&M, M&S, Boots, Superdrug and Sainsburys, which have been excellent," Chief Executive Allan Lockhart says. Says rent collection stable on-year at 97%.

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Henry Boot PLC - Sheffield, England-based property developer - Sells 759 residential plots in Swindon, UK to housebuilder Vistry Group PLC. Henry Boot adds: "In addition to enabling the delivery of new homes including over 500 affordable homes, the wider site will bring a number of additional community benefits to the local area as part of the planning consent. These include up to 26,900 sq ft of retail, food, service and business space, a new primary school and an extension to an existing school, as well as community and sport buildings, significant woodland planting, green infrastructure and children's play spaces."

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First Tin PLC - tin development firm focused on Germany and Australia - Feasibility study at Taronga tin project in Australia shows combination of gas engines for base load and night-time usage, topped up by energy from solar panels during daytime is "most cost-effective and carbon-friendly option". Says measures would mean saving of 58% compared to grid power.

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Kavango Resources PLC - Metals exploration company with assets in Botswana and Zimbabwe - Says completes airborne geophysical survey over Kalahari copper belt asset in Botswana. "This multi-parameter airborne geophysical system has been designed for superior resolution of the KCB geology, to provide more detailed mapping of the project. The goal is to identify higher confidence drill targets," it explains. Data is expected at end of February.

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PYX Resources Ltd - Indonesia-focused zircon and mineral sands producer - Gets two-year licence to extract and process up to 94,000 tonnes per year of zircon, ilmenite and rutile from Mandiri project in Indonesia. Chair and CEO Oliver Hasler says: "We are thrilled with the Indonesian Energy and Mineral Resources Department decision to award Mandiri, which has been in production since 2015, with a two-year work programme licence, as opposed to the usual yearly licence, providing us with greater visibility and allowing us to plan further ahead."

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Kistos Holdings PLC - energy company with assets in UK North Sea and onshore Netherlands - Notes North Sea Transition Authority grants development and production consent for Shell PLC-operated the Victory gas field. "Production from the Victory field will significantly increase throughput at the Shetland gas plant, further extending the life of the Greater Laggan area whilst reducing overall unit operating expenditure," Kistos adds. Shell on Wednesday said it took a final investment decision at Victory. Shell expects it to come online in the middle of this decade and produce approximately 150 million standard cubic feet per day of gas at its peak.

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By Eric Cunha, Alliance News news editor

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