TRADING UPDATES: Vela, Standard Life Investments up portfolio value

Tue, 03rd May 2022 21:55

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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Vela Technologies PLC - Bradford, England-based investment company focused on early-stage technology companies - At March 31, portfolio comprises of 12 active investments, up from 10 at December 31. The fair value of the portfolio was GBP5.6 million, up from GBP4.9 million in the same comparative periods. Cash balance at March 31 totals GBP949,000.

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Standard Life Investments Property Income Trust Ltd - Essex, England-based commercial property investor - At March 31, net asset value per share stands at 106.6 pence, up 5.5% from 101.0p at December 31. This resuts in a total NAV return of 6.6% for the first quarter of 2022. Loan to value of 18.6% at March 31. Portfolio value increases by 4.4% quarter-on-quarter. Adds it has a "strong" balance sheet with "significant" financial resources available for investment.

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Zenith Energy Ltd - Calgary, Canada-based oil & gas company - Fully settles its liability resulting from loan agreements with Winance on May 26 and December 6. Company repays EUR650,000 in cash with the balance being paid through reserve shares. Company also settles its USD2.5 million convertible loan facility having made repayments of USD600,000.

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San Leon Energy PLC - Dublin-based oil and gas production, development and exploration company focused on Nigeria - Extends the timing of its follow-on investment in the Oza oil field in Nigeria. The time period for providing the loan is extended to June 30 on the basis San Leon will increase the size of the loan to USD2.5 million from USD2.0 million. This increased loan will continue to be made via 10% per year unsecured subordinated loan notes of Decklar Resources Ltd on the same repayment terms as originally announced on September 1, 2020.

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Love Hemp Group PLC - London-based cannabidiol products company - Sees shares temporarily suspended from trading on the Aquis Exchange. Says the reason for the suspension is because Peterhouse Capital has resigned as its advisor. Company adds that one of the investors in its subscription announced on February 8 has failed to make a payment for the subscription of shares of 0.1 pence each. Love Hemp says these shares will be cancelled. Says shortfall in the fundraise has not impacted its operations.

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Minoan Group PLC - Surrey, England-based company focused on developing a tourism project in Crete - Chair Christopher Egleton buys 5 million shares at 1 pence each, worth GBP50,000, on Tuesday. Executive Director Georgios Mergos also buys 5 million shares at 1 pence each, worth GBP50,000, on Tuesday.

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Central Asia Metals PLC - London-based copper, zinc and lead explorer operating in Kazakhstan and North Macedonia - Says its Kounrad dump leach, solvent extraction and electro-wining copper recovery plant in Kazakhstan has reached its 10-year production milestone. Expects to produce copper at Kounrad until 2034.

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Online Blockchain PLC - Ongar, England-based blockchain research and development company - Reports "excellent" progress for its cross-chain asset bridge, Narni. Says platform's average transactions per day now totals 600 with transaction values ranging between USD3.0 and USD50,000.

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VSA Capital Group PLC - London-based Investment banking and broking firm - Signs fee settlement with Anglo African Agriculture PLC. Anglo African will allot 3.8 million shares to VSA to settle outstanding GBP152,945 in fees. VSA now holds 15% of Anglo African. VSA says Chief Executive Andrew Monk and Director Andrew Raca have signed a relationship agreement with Anglo African to ensure that the company is capable of carrying out business independently of VSA. Monk holds 4.3% of Anglo African.

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Tekcapital PLC - London-based intellectual property investor - Says portfolio company Guident is working with Airspan Networks Holdings Inc to provide customers with connectivity and software solutions for autonomous vehicles. Companies have deployed a 5G private network testbed at Guident's facility in Florida.

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Benchmark Holdings PLC - Sheffield, England-based aquaculture genetics, health and nutrition company - Wins marketing authorisation for Ectosan Vet from the Norwegian Medicines Agency. Ectosan Vet is the company's sea lice solution. The authorisation allows for the re-use of the treatment water for a second batch of fish. This, the company explains, increases the efficiency of treatments.

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Reabold Resources PLC - London-based oil and gas company with projects in the UK, the US and Romania - Says Daybreak Oil & Gas will hold a special shareholder meeting to vote on the equity exchange agreement announced first on October 21. Company says though this date falls after the long stop date for the transaction, the equity agreement will remain in place with completion at the same time. Upon completion, Reabold California will become a wholly-owned subsidiary of Daybreak. In exchange, Daybreak will issue 161 million shares to Gaelic Resources Ltd, a wholly-owned company of Reabold. As a result, Reabold will hold 47% of Daybreak.

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Sovereign Metals Ltd - Perth, Scotland-based rutile exploration and development company focused in Malawi - Secures AUD15 million, around from USD10.7 million, from UK, European and North American investors to subscribe for 22.2 million shares at an issue price of AUD0.67 plus one-for-two unlisted option with an exercise price of AUD0.80. Funds will be used to to further the development of the Kasiya Project.

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JPEL Private Equity Ltd - Guernsey-based investment company - Says, following its latest mandatory redemption, its portfolio has an estimated net asset value of USD56 million. Portfolio consists of 7 direct investments and 41 limited partnership interests.

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Woodbois Ltd - Guernsey-based timber producer - A person closely associated with Non-Executive Director Henry Tucan sells 10.7 million shares at GBP0.06 each, worth GBP639,189, on Friday. Now holds 19% of the voting ordinary shares.

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Destiny Pharma PLC - Brighton-based clinical phase biotechnology company - Appoints Yuri Martina as chief medical officer. Company says Martina has more than 20 years' experience and an "extensive record of excellence" in clinical development.

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CEPS PLC - Bath, England-based investment company focussed on the industrial sector - Extends the repayment date of the loan from Chelverton Asset Management Ltd to a rolling eighteen-month basis from April 29. All other terms remain the same. The loan stands at GBP3 million.

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Canadian Overseas Petroleum Ltd - Calgary, Canada-based oil and gas company - Says its affiliate Canadian Overseas Petroleum America Inc's purchase of the Wyoming assets of Cuda Energy LLC was approved in Canada by the Court of Queens Bench of Alberta on Friday. Final approval of the sale is subject to approval of the US Bankruptcy Court for the District of Wyoming.

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Ariana Resources PLC - London-based gold exploration company focused on Turkey - Announces the third USD100,000 investment of the Asgard Metals Fund which is being developed as part of the company's project catalyst strategy. The fund will take an interest in Singapore-based company Annamite Resources Holdings Pty Ltd with copper and gold licences in Laos. 2.5 million shares in Annamite will be issued following the USD100,000 investment and additional shares are to be earned within a consultancy agreement equalling up to USD200,000. Under the consultancy agreement, Ariana will provide technical consulting services for Annamite's exploration efforts for up to two years. Asgard will own 3.8% of Annamite following the investment.

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Harmony Energy Income Trust PLC - London-based investment company focused on energy projects - Expects an increase in projected revenue assumptions of 17% on a net present value basis, leading to a net asset value increase. Says it is making good progress on its Seed Portfolio projects. Company's next NAV update is expected to increase by 9 pence per share.

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By Heather Rydings; heatherrydings@alliancenews.com