TRADING UPDATES: Tritax EuroBox ups placing; Agronomics backs Vitro

(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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Tritax EuroBox PLC - logistics real estate assets manager - Increases size of placing to GBP213 million after initially targetting GBP170 million. Says 191.2 million shares to be issued at 111.5 pence each. "In taking this decision the board has taken into account the strength of the manager's near-term investment pipeline," Tritax EuroBox says.

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Agronomics Ltd - Isle of Man-based alternative proteins company - Leads funding round in investee VitroLabs Inc with a USD7.0 million investment. "The subscription is part of a funding round being undertaken by VitroLabs with the proceeds being used to build and scale the world's first pilot production facility of cultivated leather," Agronomics explains. Agronomics holds just shy of 15% VitroLabs stake and has right to board seat.

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Cizzle Biotechnology Holdings PLC - London-based biotechnology firm - Lands agreement with biomedical charity St George Street Capital. Deal involves Cizzle being granted future royalty payments from commercialisation of St George Street Capital's AZD1656 Covid-19 treatment. Payments could reach GBP5 million. "While future royalties are contingent on the successful development of AZD1656, the recent clinical trial results are a positive step and Cizzle Biotechnology's royalty rights are not limited to the success of AZD1656 for treating Covid-19," Cizzle says.

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Seed Innovations Ltd - investor with focus on medical cannabis - Notes investee Yooma Wellness Inc buys Texas, US-based sparkling water beverages company Big Swig Inc. Deal values Big Swig at USD2.5 million.

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Cohort PLC - defence and security markets-focussed technology company - Says order book stands at just under GBP300 million, up from GBP242.4 million at start of financial year ending April 2022. Notes progress so far in new financial year but adds some delays to work have persisted. "The underlying causes include extended negotiations with customers and the various restrictions on travel, work and social interaction and, in addition, global supply chain challenges, due to the pandemic. Nevertheless, we continue to expect that our trading performance for 2021/22 will be slightly ahead of that achieved for the year ended 30 April 2021, and to have zero net debt at the year end," Cohort adds.

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Blencowe Resources PLC - natural resources company focused on the development of the Orom-Cross graphite project in Uganda - Says all samples from phase two drilling programme at Orom-Cross completed and on way to laboratories in Australia for assaying. Blencowe is eyeing upgraded resource statement at asset in fourth quarter of 2021. "The company has made considerable progress over the past sixteen months since Orom-Cross was acquired and is now about to deliver a first economic model to share with the market," Executive Chair Cameron Pearce says.

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Rainbow Rare Earths Ltd - rare earth metals projects in South Africa and Burundi - Strikes exclusive intellectual property licencing agreement with K-Technologies Inc. Rainbow Rare to use rare earths separation technology developed by K-Technologies. "The K-Tech process achieves the separation of rare earth oxides in fewer stages with greater flexibility leading to significant capital and operating expenditure savings compared to traditional technology, which uses numerous solvent extraction steps to achieve the same results," Rainbow Rare says.

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UK Oil & Gas PLC - onshore exploration and production in UK and Turkey - Seals two-week production facility upgrade at 86%-owned Horse Hill oil field. Says oil production has now been re-established.

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Alba Mineral Resources PLC - exploration company with assets in Greenland, Ireland and the UK -

Notes UK Oil & Gas announcement on Horse Hill. Alba owns just under 12% of Horse Hill. In addition, Alba strikes option agreement to secure more gold exploration ground adjacent and within Dolgellau field. Executive Chair George Frangeskides says: "We are very pleased to have been granted this new licence area within the Dolgellau gold field. It consolidates our control of the prospective gold exploration ground both within and adjacent to the gold field. This new area will be included within our overall plan for continued regional exploration of the Dolgellau gold field, details of which will be announced soon."

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Zoo Digital Group PLC - London-based provider of cloud-based localisation and digital distribution services - Says revenue in first half to September 30 "slightly ahead of guidance" and earnings before interest, tax, depreciation and amortisation higher year-on-year. Chair Gillian Wilmot says: "In the past month we have seen a significant expansion of orders for localisation and media services relating to new original titles following the resumption of productions. This gives us much improved visibility through H2 and confidence to continue with our growth plans. We have progressed negotiations to establish regional hubs in strategic international locations, significantly strengthening our global offering. We expect the first of these to be announced shortly."

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City of London Group PLC - asset manager specialising in UK SME market and home reversion - Says Prudential Regulation Authority lifts deposit restrictions on Recognise Bank. This will allow Recognise to launch personal and business savings products and to start taking deposits. "Recognise Bank will launch FSCS protected personal savings products on Tuesday 21st September 2021, with business saving products due to launch later," City of London adds.

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By Eric Cunha; ericcunha@alliancenews.com

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