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TRADING UPDATES: TruFin raises GBP10 million, Afentra preferred bidder

Mon, 11th Apr 2022 21:58

(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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TruFin PLC - London-based financial technology – Raises GBP10.0 million through issue of 13.4 million new shares at 75 pence each. Says open offer raises GBP2.0 million and placing GBP8.0 million. Says all resolutions were passed on Monday's general meeting.

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Afentra PLC - upstream operator in Africa with carried interest in Odewayne block onshore southwestern Somaliland – Confirms its selection as preferred bidder to purchase interests in Block 3/05 and Block 23 from Sonangol EP, Angola's national oil company, following sales & purchase agreement negotiations over the first quarter of the year. The agreement will now be finalised, with due diligence conducted, but sale is not guaranteed. Shares will remain suspended from trading until AIM admission document is published, or its participation in the bid process is terminated.

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Poolbeg Pharma PLC - London-based pharmaceutical company – Says numerous new investors express interest in acquiring up to GBP1.6 million of company's shares which are currently locked-up and held in trust by Croft Nominees Ltd, following the distribution in specie from Open Orphan PLC in June last year. The new investors are committing to buy the distribution in specie shares on or around April 26, at a price of 5.9 pence per share. Poolbeg says "strong investor demand is a clear vote of confidence" in its prospects.

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Mercia Asset Management PLC - regionally focused specialist asset manager – GBP800,000 of ring-fenced cash proceeds are released following sale of Faradion Ltd. The proceeds are in addition to profit of GBP5.7 million reported in January, bringing total proceeds on disposal to GBP6.5 million above the holding value at September 30.

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Grit Real Estate Income Group Ltd - pan-African property investment and management – Announces that further to previous announcements about its acquisitions of shares in Gateway Real Estate Africa Ltd and Africa Property Development Managers Ltd, it commits to acquiring a further 8.7% of GREA by July 31, for a further USD19.4 million in cash or shares, to increase its shareholding in GREA to 35%. The company also receives the grant of an option by Gateway Africa Real Estate Ltd to acquire its 14% remaining interest in GREA and an additional 1% in ADPM shareholding by December 15. If exercised, the company would hold 49% of GREA and 79% of ADPM.

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By Elizabeth Winter; elizabethwinter@alliancenews.com