(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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Pelatro PLC - London-based marketing software specialist - Secures "several" contracts for change requests, worth around USD300,000, that will be delivered in 2021. With these, the total value of contracts in hand representing 2021 revenue is around USD6.8 million. Comes around a month after firm reports getting several contracts for change requests, adding up to USD500,000, that brought total value of work in hand for 2021 revenue to USD6.5 million. "Given that we have clear visibility with contracts secured for USD6.8 million of revenue for 2021 so early in the year, together with the momentum we are building in our business, we are looking forward to a successful outcome this year in line with expectations," says Chief Executive & Managing Director Subash Menon. Company reported revenue for 2020 of USD4.0 million, which was down from USD6.7 million in 2019.
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Futura Medical PLC - Surrey-based maker of erectile dysfunction gel - Raises gross proceeds of GBP10 million via oversubscribed placing at price of 40p each. Issue price represents discount of around 21% to closing price on May 13. In addition to the placing, company has raised GBP2 million via PrimaryBid retail offer. "This financing will enable the company to proceed with its plans to achieve MED3000 approval in the US and launch the product in the coming months and years with commercial partners across the EU and multiple other regions, including many parts of Asia, where the CE mark is recognised," says Chief Executive James Barder.
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Novacyt SA - biotechnology group focused on clinical diagnostics - Says its SNPsig SARS-CoV-2 polymerase chain reaction genotyping portfolio has been included in the NHS England Framework for detecting Covid-19 variants of concern. Also unveils two new PCR assys to detect variants of concern. One is a CE-marked assay to detect 20I/501Y.V1, the variant originally identified in the UK and first known as the Bristol variant, as well as VOC-21FEB-02 and all SARS-CoV-2 variants carrying the E484K escape mutation. The second is a research-use-only, streamlined workflow solution for the detection of SARS-CoV-2 variants carrying the E484K escape mutation for use with the company's q32 rapid-PCR instrument. "Our SNPsig portfolio for detecting variants of interest and variants of concern now includes 12 individual assays to support scientists and clinicians in the ongoing fight against Covid-19," says Chief Executive Graham Mullis.
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Zoetic International PLC - London-based cannabidiol products - Says received orders for its Chill brand of brand of smokes and chews in the US totalling USD340,000 in April. Up to May 14, receives additional orders in excess of USD1.0 million for Chill brand. Following these orders, group is trading profitably. "These orders that we have received for our 'Chill' brand in the last six weeks clearly demonstrates that there is strong demand for our product and that we have installed the right distribution channels in the US," says Co-Chief Executive Trevor Taylor.
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Inspiration Healthcare Group - West Sussex-based medical technology company - Says subsidiary SLE Ltd, which was bought in July 2020, receives order worth over GBP1.3 million to supply ventilators to China. These have been sold through its Chinese distributor and are to be delivered within the next three months. "We are delighted to be making such strong progress in China within such a short space of time since receiving regulatory approval and this new order certainly helps to strengthen the outlook for the group going forward," says Chief Executive Neil Campbell.
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MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - Says patent application for CimetrA accepted by Slovenian Intellectual Property Office. Expects patent to be issued within the next 12 months, and says this initial patent application gives company priority to file subsequent patent applications for CimetrA in other jurisdictions and other IP agencies such as EU and World Intellectual Property Organisation.
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Shield Therapeutics PLC - Newcastle, England-based pharmaceutical firm focused on iron deficiency - Starts trading on US OTCQX Best Market, making shares available to US investors and saying this has the potential to boost liquidity on AIM. "With the upcoming launch of Accrufer in the US, I believe that Shield will be of increasing relevance to US-based investors," says Chief Executive Tim Watts.
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Triple Point Social Housing REIT PLC - London-based real estate investment trust - Says company's net asset value per share at end of March edges up to 106.55 pence from 106.42p at end of December. Says portfolio has remained resilient in face of Covid-19 disruption and has continued to increase in value. "This reflects the group's ongoing consistent rent collection and the essential nature of the accommodation it provides to vulnerable adults," firm says. Declares interim dividend dividend of 1.30p and adds that it is targeting a total dividend of 5.20p for 2021, up 0.4% on the 5.18p paid in respect of 2020.
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Tufton Oceanic Assets Ltd - London-based maritime assets investor - Agrees to sell two handysize bulk carriers for USD20.5 million. The realised internal rate of return "materially exceeds" the targets set out in 2018 prospectus. "The vessels were acquired for less than 70% of depreciated replacement cost in 2018 and early 2020. In line with our investment strategy, we are taking the opportunity to divest at 100% of depreciated replacement cost," company says. Firm expects to deploy proceeds "promptly", and looks to invest in a tanker with similar economics to the vessel Golding acquired earlier this year at 70% of depreciated replacement cost.
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1Spatial PLC - Cambridge-based location data software provider - Granted UK patent for modification and validation of spatial data. The patent protects the use of 1Spatial's Rules Engine technology, which is used in products such as 1Integrate and 1Data Gateway. "As pioneers in the cleansing of location data, we are delighted to have been granted a UK patent for our Rules Engine technology, recognising its power as a tool to ensure good quality data and facilitate trust when sharing data," says Chief Executive Claire Milverton.
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Invinity Energy Systems PLC - Jersey-based battery manufacturer - Concludes contracting on another project awarded funds by the California Energy Commission. Enters into contract with Webcor, a Californian construction firm, to provide a vanadium flow battery for a project developed by Indian Energy LLC. "The project, located on a US Marine Corps base in Southern California, will couple three of Invinity's VS3 vanadium flow batteries with solar PV to provide resilience and energy security in the case of public safety power shutoff events, wildfires or other outages," it says. The 0.5 megawatt-hour system is expected to be delivered during the fourth quarter, contributing revenue of GBP450,000 to the firm.
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Pires Investments PLC - invests in companies that have the potential for major transformation and exponential growth - Notes investee Sure Ventures PLC's Friday update on its investment portfolio during the first quarter. On Friday, Sure Ventures said it made a EUR7 million commitment to Sure Valley Ventures Fund, representing an interest in Sure Valley of around 25.9%. Pires holds combined direct and indirect - via its 28% shareholding in Sure Ventures - interest in Sure Valley of around 20%. "We are pleased with the progress made by Pires' portfolio companies held through SVV, during Q1 2021, including the accelerated growth of companies such as Buymie, Admix and Ambisense," says Pires Chair Peter Redmond.
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Pembridge Resources PLC - London-based mining company - Reports 2020 revenue from contracts with customers of USD58.3 million, up sharply from USD12.4 million the year before, but pretax loss widens to USD27.2 million from USD13.1 million. Production costs shoot up to USD62.5 million from USD14.7 million. "These results reflect 2020 being a year in which the Minto team developed the mine and laid the groundwork for future success, despite the unexpected challenges that they faced in the year from the Covid-19 pandemic and a low copper price. We are now seeing the benefit of this work in 2021," says Chief Executive & Chair Gati Al-Jebouri.
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Goldplat PLC - Africa-focused gold producer - Says recovery operations achieved combined operating profit for nine months to end of March of GBP4.2 million, up 11% from GBP3.8 million year-on-year. Ghana operations continued to perform well as a result of a steady supply of material, achieving third quarter operating profit of GBP687,000, multiplied from GBP210,000 a year ago. However, South African profit falls to GBP575,000 from GBP843,000. South African fall is due to increases in the cost per ton of material acquired for low-grade circuit. "I am pleased to report that with our two profitable recovery operations, in South Africa and Ghana, we are getting closer to our strategic initiatives of building long-term visibility of earnings and being in a position to return value to shareholders through dividends," says Chief Executive Werner Klingenberg.
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Lexington Gold Ltd - gold exploration and development company - Informed by SGS Minerals Services Geochemical Laboratory in Vancouver that assay results from phase one drill programme at the Jones-Keystone-Loflin project will be delayed due to a Covid-19-related lockdown at its sample preparation division. "As a consequence, the assay results in respect of the Phase 1 drilling campaign will now be reported in two batches, with the first batch, covering three of the six drill holes plus the redrilled upper saprolite section, now expected to be received by the end of May or early June 2021," company says.
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By Lucy Heming;Â lucyheming@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
GoldPlat (GDP)
Inspiration Hlt (IHC)
Futura Medical (FUM)
1Spatial Holdings (SPA)
Triple Pnt Soc (SOHO)
Shield Thera (STX)
Tufton Oceanic. (SHIP)
Invinity Energy (IES)