TRADING UPDATES: Peel Hunt's RetailBook raises GBP2.5 million

(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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Peel Hunt Ltd - London-based investment bank - Says RetailBook technology platform raises GBP2.5 million to go towards its growth and provide funds needed for UK Financial Conduct Authority authorisation. FCA backing is expected "shortly". "It is anticipated that RetailBook will begin to operate independently of the Peel Hunt group in the coming months," Peel adds. RetailBook gives retail investors access to IPOs and other primary share offers.

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TruFin PLC - London-based holding company of three growth-focused technology businesses operating in early payment provision, invoice finance, and mobile games publishing - Says invoice financing platform Satago signs pact with Bank of Ireland. Deal will allow small and medium-sized enterprises in Ireland to seek invoice finance through Sage Accounting and Sage50 accounting software. "Powered by Satago, Sage customers in Ireland will be able to access the bank's commercial finance team who have significant experience in providing working capital solutions to businesses selling on credit. The first customer in Ireland is expected to access finance during 2024, with customer numbers growing in 2025 and beyond," TruFin says.

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Literacy Capital PLC - London-headquartered trust focused on long-term investments in private UK businesses - Invests in Live Business Group, an entertainment supplier for the cruise & leisure industry. Literacy Capital buys a "significant minority stake", but full financial terms were not disclosed.

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Helical PLC - London-focused property developer - Agrees to sell the 5 Charterhouse Square property in London to an unnamed real estate fund managed by Ares Management for GBP43.5 million. Helical says the six-storey building provides 45,000 square feet of modern office space and is home to a range of creative occupiers including marketing agency Anomaly London LL; FTSE 100-listed betting and gaming company, Entain PLC; and communications consultancy, Hudson Sandler.

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i3 Energy PLC - UK and Canada-focused oil and gas company - Says 2023 year-end value of proved developed producing reserves, at 10% discount, totals USD303.1 million. Total proved reserves valued at USD501.3 million and proved plus probable reserves valued at USD1.03 billion. "Proved developed producing, 1P and 2P reserve volumes all experienced strong positive technical revisions, despite the dramatic reduction in forecasted natural gas and natural gas liquids pricing which impacts approximately 76% of the company's produced commodities," i3 Energy says. In addition, i3 announces a new CAD75 million, around GBP43.8 million, reserve-based senior secured credit facility. It also settles an existing loan facility, repaying the outstanding balance of CAD57 million.

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Abingdon Health PLC - York, England-based lateral flow technology - Completes "design freeze" for four sexually transmitted disease self-tests on behalf of customer Devyn LLC. Notes global sexually transmitted disease testing market is a growing one, expected to hit USD145 billion by end of 2035, from USD95 billion in 2022. In addition, Abingdon enters a pact which will see it take a minority stake of up to 23% in Find Out From Home LLC, a subsidiary of Devyn. Abingdon Chief Executive Officer Chris Yates will become a director of Find Out.

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Hardide PLC - Oxfordshire, England-based provider of advanced surface coating technology - Expects to report revenue of around GBP2 million for first half to March 31, falling 31% from GBP2.9 million. Hardide says it suffered a "slower than expected start to the financial year" with customers reducing inventory. It adds: "Hardide's trading momentum has since improved, but has not advanced beyond prior year levels. We anticipate a stronger second half as order patterns from major OEM customers normalise, supplemented by ongoing sales growth into aerospace markets and initial sales of industrial consumable spares product sold directly to end user customers."

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Ondine Biomedical Inc - Vancouver-based life sciences company - Announces first commercial adoption of Steriwave antimicrobial by NHS in the UK. "Mid Yorkshire Teaching NHS Trust has approved the commercial adoption of Ondine's groundbreaking light-activated antimicrobial, Steriwave. The approval will see the use of Steriwave expanded across hip and knee surgery patients at Pontefract and Pinderfields NHS Hospitals to reduce the incidence of surgical site infections," Ondine says.

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Access Intelligence PLC - London-based software-as-a-service products provider - Hails acceleration in annual recurring revenue growth in first quarter of new financial year. ARR grew by GBP1.0 million in first-quarter, compared to GBP2.7 million for the whole of the year ended November 30. Access Intelligence says: "The group's APAC and EMEA & North America markets have contributed equally to this ARR growth which has been underpinned by a significant improvement in renewal rates year on year in addition to a number of exciting global new customer wins and winbacks." Says will announce results for year to November 30 in May.

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By Eric Cunha, Alliance News news editor

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