TRADING UPDATES: Zambeef warns sales and profit will miss expectations

Thu, 14th May 2026 21:24

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

----------

Zambeef Products PLC - cold chain foods and retail business with operations in Zambia, Nigeria and Ghana - For the financial year ending September, Zambeef expects revenue to be below market expectations by around 20%, "as part of a strategy to continue to remain an affordable option for consumers". As a result, operating profit is now forecast to be below market expectations by about 4%. Zambeef says the revenue hit is mitigated somewhat by strong underlying operations and disciplined overhead management, with results further supported by favourable gains from the appreciation of the Zambian Kwacha against the USD. Finance costs are now projected to be higher than market expectations.

----------

Gunsynd PLC - investor in the natural resource sector - Says summer field work at Barb asset to begin by mid-June with rock chip sampling and a geophysical survey planned. Phase 1 of the summer programme on Barb is to start on or around May 27 with field work expected to be completed by June 2. Systematic prospecting traverses are to be conducted across the newly acquired Lotus 1 & 2, Denver and Brook claims with selective grab and chip rock samples to be collected from prospecting traverses and submitted to an accredited laboratory for analysis.

----------

Zanaga Iron Ore Co Ltd - iron ore exploration and development company - Plans to raise GBP4.2 million via a placing and subscription at 4 pence per share as well as a separate retail offer. Proceeds will be used to: progress the bulk sampling campaign, and in turn the Zanaga Project, including earthworks and sampling; support Zanaga Project in-country overheads; and support corporate overheads and general working capital requirements. The placing will take place through an accelerated bookbuild process to be conducted by the joint bookrunners Panmure Liberum Ltd and Tamesis Partners LLP.

----------

GreenX Metals Ltd - focused on Arctic Rift copper project in Greenland and the Tannenberg copper project in Germany - Says new tungsten and antimony targets identified at the Margeries prospects in East Greenland following the reprocessing of historical airborne hyperspectral data have revealed multiple zones of hydrothermal alteration across the licence area. Says 2026 fieldwork will test the new targets and collect bulk samples at North and South Margeries for tungsten and antimony metallurgical sighter test work. The aim of the fieldwork is to confirm drill ready targets at both North and South Margeries and Noa Pluton. "With the 2026 field season only weeks away, our exploration team now has a clear pipeline of priority targets to advance on the ground, further defining and prioritising potential drill targets for future field programs," says Chief Executive Ben Stoikovich.

----------

Mirriad Advertising PLC - London-based provider of virtual product placement - Since appointing administrators to its UK operating subsidiary, Mirriad Ltd, it has become apparent that a number of key supplier and employee contracts are held by Mirriad PLC rather than Mirriad Ltd. As a result, certain liabilities and obligations associated with the group's business sit within Mirriad PLC. As a result, Mirriad PLC has resolved to place Mirriad PLC into administration in order to protect and preserve value for creditors and stakeholders.

----------

Cindrigo Holdings Ltd - Guernsey, Channel Islands-based renewable energy developer and producer - Says BAFA BEW Module 1 funding eligibility extended for the Eich and Worms geothermal licence areas and Weinheim licence area approved for BAFA BEW Module 1 funding eligibility for the first time. BEW Module 1 provides grants covering up to 50% of eligible pre-development costs, subject to a maximum of EUR2 million per licence. In addition, work on the Heat Demand Feasibility Study for Eich is progressing, supporting future eligibility for BAFA BEW Module 2 funding. BEW Module 2 may provide grants covering up to 40% of eligible project costs, up to a maximum of EUR100 million. "The extension of BEW Module 1 eligibility support for Eich and Worms, together with the first-time approval for Weinheim, highlights the continued commitment of the German state to supporting the development of renewable district heating infrastructure which aligns strongly with the development of our geothermal interests," says Chief Executive Lars Guldstrand.

----------

Alba Mineral Resources PLC - Northern Europe-focused mineral explorer - Confirms that the Greenland Government has approved the company's acquisition of a 51% interest in the Motzfeldt Critical Metals Project in south Greenland. The approval is the final condition required to be satisfied for Alba to complete the acquisition of a further 25.5% interest in the project and thereby increase its interest to 51%. "The completion of Alba's acquisition of a majority interest in the Motzfeldt Project marks a major milestone for the Company. Motzfeldt is one of only five projects in Greenland to be granted 'very large deposit' status and is regarded as one of the country's most important critical mineral projects," says Alba's Principal Geologist Curtis Rooks. "Our recent confirmation of high-grade results for multiple critical metal commodities at the Merino prospect, together with the existing defined resource at the Aries deposit, further underlines Motzfeldt's potential as a large-scale polymetallic project across an extensive licence area," Rooks adds.

----------

Nostrum Oil & Gas PLC - operates gas processing facilities and export hub in north-west Kazakhstan - Says it is "extremely disappointed" with the decision of the first instance court of the Republic of Kazakhstan which rejects Nostrum subsidiary Zhaikmunai LLP's challenge to tax claims made by RoK tax authorities resulting from their tax audits of ZKM for 2018 and 2019. Continues to believe the claims are "without merit" and are "not consistent with applicable laws". "ZKM intends to appeal the first instance decision. The company is also considering its international treaty-based remedies and will continue to defend its interests."

----------

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com