TRADING UPDATES: ZAIM Credit launches app; Benchmark in Norway boost

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

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Benchmark Holdings PLC - Sheffield, England-based aquaculture genetics, health and nutrition company - Says Ectosan Vet sea lice treatment receives marketing authorisation in Norway. "Sea lice are one of the biggest biological challenges in salmon farming, estimated to cost producers more than USD1 billion annually, and USD600 million in Norway alone," Benchmark adds. "The final steps for commercialisation are the ratification of the MRL (Maximum Residue Limit) into Norwegian regulation and the approval of product labels by the Norwegian Medicines Agency. The MRL ratification into Norwegian regulation is a procedural step following EU legislation and is anticipated to complete in the next few weeks."

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ZAIM Credit Systems PLC - Russian focused fintech company - Launches branded mobile application for Android and iOS devices. Tips application to increase repeat customers. "The App creates new revenue streams including the possibility of cross-selling activity with the products of potential partners as well as allowing existing customers to get access to our products faster and with greater ease," Chief Executive Officer Siro Cicconi says.

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Grit Real Estate Income Group Ltd - pan-African property investment and management - Enters loan pact with International Finance Corp, investment arm of World Bank, for USD25 million senior debt financing. Cash to go towards acquisition of Orbit Africa warehousing and manufacturing facility in Nairobi, Kenya. "The Orbit Africa transaction initially comprises the acquisition, on a sale and leaseback basis, of an existing warehouse and manufacturing facility with a gross lettable area of 29,243 square metres and total land parcel of 80,570 sqm at an accretive net acquisition yield of 9.60% (net of acquisition costs)," Grit adds. Facility to be leased back to Orbit Africa for further 10 years with average annual rent rise of 2%. In addition, Grit signs lease agreement for office space at Fond du Sac, Mauritius. Grit to occupy 2,020 sqm of asset, penned for completion and occupation in fourth quarter of 2022.

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Riverstone Credit Opportunities Income PLC - makes senior secured loans to small and middle-market energy companies - Participates in USD50 million first lien delayed-draw term loan to Blackbuck Resources LLC, a water infrastructure services provider to oil and gas industry. Riverstone adds: "At closing on 30 June 2021, USD9.9 million was committed by RCOI and USD8.9 million was drawn at closing."

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GYG PLC - Spanish yacht painting, service and supply company - Talks with suitor and second largest shareholder Harwood Capital remain ongoing. Discussions in due diligence phase. Put up or shut up deadline for potential Harwood offer extended by 21 days to July 23. "There can be no certainty that a formal offer will be made, nor as to the terms on which any such offer might be made," GYG says.

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e-Therapeutics PLC - Oxford, England-based drug discovery - Partnership with Galapagos NV meets "key milestone", as a result, small molecule medicines developer Galapagos makes payment to e-Therapeutics. Objective of tie-up is to discover new therapeutic strategies for treatment of idiopathic pulmonary fibrosis and other fibrotic conditions.

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Chesterfield Resources PLC - London-based company focused on discovery and development of copper deposits - Raises GBP800,000 in placing, upsized from GBP750,000. Total of 8.0 million new shares placed with new and existing investors at price of 10.00p each. The placing price represents a 16% discount to Thursday's closing price of 11.88p. Chesterfield on Thursday said: "The use of proceeds are primarily to fund the forthcoming field programme on the Adeline project, as well as for general working capital purposes."

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TomCo Energy PLC - oil project development in US focused on using new technology to unlock unconventional hydrocarbon resources - Says Greenfield Energy joint-venture, which TomCo operates alongside Valkor LLC, completes planned trial work at Asphalt Ridge oil sands project in Utah. Notes all data needed for front-end engineering and design study now compiled and study will be finalised by end of July. "Greenfield now focused on completing the requisite due diligence on the Tar Sands II site," TomCo adds.

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Scotgold Resources Ltd - gold exploration and production company focused on Scotland - Optimises mine design at Cononish gold and silver project, allowing Scotgold to access "higher grade ore zones" more quickly than planned. "Mining in the latter part of June was accessing ore which peaked at 40 grammes per tonne. Mining in this general zone will continue for 2 months and expected to achieve a blended grade average above 10 grammes per tonne," Scotgold says. Also plans to make second shipment of gold during first half of July.

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i3 Energy PLC - oil & gas company with assets and operations in the UK and Canada - Says second quarter output averages 9,142 barrels of oil equivalent per day, up versus 8,856 boepd in first quarter. Completes drilling of Marten Hills 01-12-075-26W4 well. "The rig has been moved to, and now spud, the second well in this Marten Hills Clearwater drilling programme at 02-12-075-26W4, with drilling expected to finish mid-July. Tie-in and equipping of the wells is expected to take five days following rig release, with production from both wells anticipated to commence in late July," i3 says.

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Mosman Oil & Gas Ltd - London-based metals exploration and development company - Nadsoil acquisition sealed on Thursday. Now has AUD2.5 million, about GBP1.4 million, to "pursue its objectives". "Mosman will now focus on the matters referred to in the recent announcement, including assuming management control of Nadsoil, operatorship of project areas and leases, continuing with the planning to drill the Winters 1 well, and the Stanley 5 well, and completing workovers. The objective being to increase production and thus cashflow. Exploration in central Australia remains a priority with the gravity survey set to start once a current Covid-19 lockdown expires," company says. Also completes gas seep study over permit EP-145 in Amadeus Basin.

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Xtract Resources PLC - London-based gold miner with assets in southern Africa and Australia - Says total alluvial mining contractor gold production at Manica concession was 284 ounces in first quarter of 2021, down from 400 ounces in fourth quarter. "Operations in the period ended 31 March 2021 continued to be adversely affected due to Covid-19, with most of the mining contactor's key personnel returning to their homeland for medical treatment or vaccination," Executive Chair Colin Bird says.

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Kavango Resources PLC - mineral exploration company focused on Botswana - Reports electro-magnetic target in Hukuntsi area of Kalahari Suture Zone project. In talks with Equity Drilling & Mindea Exploration & Drilling Services (Pty) to extend drilling to include 550 metre borehole into target. Earlier Friday, Kavango says drill targets identified at Ditau project. Says three specific targets to be prioritised for drilling. Power Metal Resources PLC, a London-based metals exploration and development company, notes Kavango's Ditau announcement.

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Diversified Energy Co PLC - Birmingham, Alabama-based energy producer and distributor - Responds to "erroneous" note from equity research house. Note referred to acquisition in US. Diversified says: "The research house published its note in error. Consistent with the company's established business model, the company routinely engages in discussions with others regarding potential acquisitions within its target regions."

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Total Produce PLC - Dublin-based fresh produce provider - Says first quarter trading was strong. Revenue, adjusted earnings before interest, tax, depreciation and amortisation in three months to March 31 up year-on-year. "Total Produce continues to target full year adjusted earnings in line with market expectations," company says. "The group's strong presence in the global fresh produce industry, the diversity of its operations and products together with the exceptional response from all of its people, continues to enable Total Produce to meet the ongoing Covid-19 challenges." Notes Dole PLC makes initial public offering filing in US. 's

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All Active Asset Capital Ltd - London-based firm seeking investment opportunities in the technology, software and artificial intelligence space - Raises GBP135 million from placing of 168.8 million shares at 80 pence each. "The net proceeds from the issue of the placing shares would be used to pay the subscription money due following the exercise of the remaining balance of EUR119 million of the AAQUA option and to provide growth and working capital for the enlarged group in the future," All Active says. Asimilar Group PLC notes All Active's announcement. "The proposed transaction involves the issue of 500 million new AAA ordinary shares to MESH Holdings PLC, or as MESH directs," Asimilar adds. Asimilar holds 8.3% of MESH.

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ITM Power PLC - Sheffield-based hydrogen power equipment maker - Notes Royal Dutch Shell PLC's announcement on start-up of 10 megawatt Refhyne I project, as well as planned expansion to 100 megawatt at Refhyne II.

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By Eric Cunha; ericcunha@alliancenews.com

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