TRADING UPDATES: Tungsten secures loan; Ashtead trading in line

Thu, 21st May 2026 16:40

(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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Hutchmed China Ltd - Hong Kong-based biopharmaceutical firm - Notes that China approves the combination of Elunate with TYVYT for patients with locally advanced or metastatic renal cell carcinoma who failed prior VEGFR-TKI therapy and have not received PD-1 or PD-L1 inhibitors in first-line treatment. The approval by the National Medical Products Administration is supported by the phase III Frusica-2 study, which shows the combination reduces the risk of disease progression or death by 63% and delivers median progression-free survival of 22.2 months versus 6.9 months for axitinib or everolimus monotherapy.

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GCP Infrastructure Investments Ltd - closed-ended investment company advised by Gravis Capital Management Ltd that provides exposure to UK infrastructure debt - Reports net asset value of 100.26 pence per share at March 31. Says portfolio comprises 47 investments valued at GBP850.6 million, with a weighted average annualised yield of 8.0% and principal outstanding of GBP903.4 million. Notes ongoing disposals and refinancings under its capital allocation policy, including repayment of around GBP43.0 million of supported social housing loans and refinancing of around GBP40.0 million of solar project loans. Adds that it bought back 8.5 million shares during the quarter, taking total buybacks since the policy announcement to around GBP30.0 million.

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Tungsten West PLC - London-based miner and owner of the past producing Hemerdon tungsten and tin mine in Devon, England - Enters into a binding USD25.0 million short-term bridging loan facility with an entity controlled by shareholder Gregory Coffey. Says the facility will fund the Hemerdon project through the first phase restart of fines gravity processing in Q3 2026. Final-stage due diligence on a larger debt package of up to USD85.0 million is complete, with definitive documentation finalised. Separately, Tungsten West says the Hemerdon mine restart remains on track and within budget, with full project commissioning expected in Q1 2027.

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Oxford Nanopore Technologies PLC - Oxford, England-based specialist in DNA and RNA sequencing technologies - Appoints Davide Manissero as its first chief medical officer and Andrew Watson as chief information officer, strengthening its executive leadership team as it expands into clinical and regulated markets. Manissero joins from Radiometer, while Watson joins from Mimecast.

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Shawbrook Group PLC - Essex, England-based digital banking platform - Completes the GBP799 million Aldbrook Mortgage Transaction 2026-1 securitisation of mortgage loans originated by The Mortgage Lender Ltd. Says the transaction is its thirteenth securitisation to date and includes a portfolio of buy-to-let and owner-occupied mortgages across England, Wales and Scotland. Shawbrook says GBP96 million of Class B to X notes were pre-placed with investors, while it retained GBP719 million of Class A notes. Says the transaction supports its growth, funding and capital management strategy.

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Ashtead Technology Holdings PLC - Aberdeen, Scotland-based provider of subsea technology to the offshore energy sector - Says first-quarter trading is in line with board expectations, despite some regional disruption since early March caused by the conflict in the Middle East. The firm says it continues to work closely with customers to manage the situation and keeps full-year expectations unchanged, assuming no sustained impact from geopolitical tensions and a seasonally stronger second half. Ashtead Technology also says its cash-generative model supports a strong balance sheet, with net debt expected to improve to below 1.0 times by the end of 2026.

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Invinity Energy Systems PLC - London-based manufacturer of utility-grade energy storage systems - The utility-grade energy storage firm has been picked to design a vanadium flow battery for deployment at the Technology Centre Laufenburg. The site is in the Swiss municipality of Laufenburg.

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By Eva Castanedo, Alliance News reporter

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