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UK TRADING UPDATE SUMMARY: Games Workshop Notes AGM Revolt Over Chair

Wed, 16th Sep 2020 22:14

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

Games Workshop Group PLC - Nottingham-based miniature wargames manufacturer - Notes 27% opposition to annual general meeting resolution to re-elect Chair Nick Donaldson over concerns he is overboarded in terms of calls on his time. Games Workshop points out that Donaldson will be stepping down effective January 2021 and no later than its 2021 AGM. "The board is confident that Donaldson discharges effectively his role as chair, notwithstanding his other board commitments."

Plus500 Ltd - London-based technology platform for trading contracts for difference - Withdraws annual general meeting resolution which proposed to approve a special bonus payable to Chief Financial Officer Elad Even-Chen after "some shareholder had expressed concerns". Considers bonus "appropriate" in light of Even-Chen's "outstanding efforts" and will engage with shareholders to make sure their concerns are considered before the resolution is proposed again at a later extraordinary general meeting to be convened later in 2020.

Eckoh PLC - Hertfordshire-based payments technology firm - Approves payment of 0.61p per share special dividend. In June, its board said it was not intending to propose a final dividend for its financial year ended March but would keep the decision under consideration. Thanks to "the continued resilience of the business combined with its high levels of repeat and recurring revenues" a special dividend will be paid October 23 in lieu of that final dividend. Keeps dividend policy under close review amid pandemic. Net cash GBP12.2 million as at August end. "Management remain confident of further progress in the second half of the year."

Immunodiagnostic Systems Holdings PLC - Tyne & Wear-based diagnostic testing kits and instruments maker - Launches four new i-Tracker assays designed to run on its automated IDS-iSYS analyser. Kits have been developed by Theradiag SA partner and were previously launches on the i-Track analyser manufactured by Immunodiagnostic Systems for Theradiag. "In the six months since the Theradiag launch, the assays have undergone validation on the IDS-iSYS analyser and are now available for use on the installed base of IDS-iSYS analysers in Europe and other territories which accept a CE mark accreditation."

Ferro-Alloy Resources Ltd - vanadium mining and processing company operating in Kazakhstan - Raises approximately GBP773,000 from fundraise comprising GBP500,000 subsciption for cash plus issue of bonds on Astana Stock Exchange in Kazakhstan totalling USD300,114. Issues and allots 6.3 million share at price of 8p each in subscription. Issues 150 bonds to investors with USD2,001 nominal value each with 7% per annum interest rate, maturing March 2023. Funds "will be used to further build the connection to the adjacent high voltage power line, complete the installation of the equipment to convert ammonium metavanadate to vanadium pentoxide, make several improvements to the existing process plant and complete the fit-out of the newly built on-site accommodation for senior technical staff."

Panther Metals PLC - mineral exploration company focused on Canada and Australia - Releases recent geophysics imagery for Big Bear gold project in Ontario, Canada. CEO Darren Hazelwood: "We are pleased to release processed imagery for the airborne geophysics survey Panther flew over the Big Bear gold project this summer. We are in the process of updating our corporate presentation and advancing our work programme at the Big Bear project. The geophysics images provide investors, and the market, with confirmation of the level of understanding we now have on this previously fragmented project area."

AEX Gold Inc - Greenland-focused gold miner - Notes that a high-resolution aerial imagery drone has identified an outcropping Footwall Vein 70 to 100 metres below the Main Vein on the north face of Nalunaq mountain, South Greenland. Five holes drilled so far at Nalunaq anf first samples dispatched for assaying. Camp at Nalunaq still Covid-free. CEO Eldur Olafsson: "The high-resolution imagery from our new state of the art drone is proving highly effective, and will further assist us in progressing the exploration target at Nalunaq by supporting evidence of other veins, which could potentially be gold bearing."

Tlou Energy Ltd - Botswana-focused power producer - Mott MacDonald, its engineering consultant, prepares two pre-qualification documents with objective of Tlou selection shortlist of pre-qualified bidders to be invited to bid for construction of Lesedi power project transmission line and supporting infrastructure. Documents prepared are: pre-qualification of bidders for the design and build contract for the substation works and pre-qualification of bidders for the design and build contract for 66kV overhead transmission line works. "The implementation stage is expected to be completed later this year, conditional on not experiencing undue delays outside Tlou's direct control. Thereafter, the Company will request tenders for construction of the transmission line and substation works from successful pre-qualified bidders."

Ocean Wilsons Holdings Ltd - Bermuda-based investment company operating a maritime services company in Brazil through its Wilson Sons Ltd subsidiary - Wilson Sons accepts resignation of Cezar Baiao from position of CEO of operations in Brazil, effective March 2021. Accepts nomination of and opts to appoint Fernando Fleury Salek, currently acting as CFO of its Brazilian subsidiaries and head of investor relations. Baiao remains deputy chair of board of Wilson Sons directors.

Altus Strategies PLC - mining royalty company with headquarters in Oxfordshire- signs definitive purchase and sale agreement and net smelter return royalty agreements with Stellar Africa Gold Inc for the Ivory Coast Altus' Prikro and Zenoula gold projects. Altus sells 100% interest in both projects in return for a 2.5% net smelter return, 2.5 million Stellar shares worth CAD125,000 and 2.5 million purchase warrants exercisable at CAD0.07 each. Subject to project progress, Altus will receive additional equity based payments.

Seeing Machines Ltd - computer vision technology company headquartered in London - Says aftermarket driver monitoring technology, Guardian, has gathered more than 5 billion kilometres of naturalist driving data thanks to its "extensive customer list globally".

Alien Metals Ltd - precious and base metals explorer - Reports results of recent sampling programmes of its San Celso and Los Campos silver projects in Mexico showing "strong correlation with historic results". Signs final legal documentation to carry out exploration work with potion to acquire Nueva Andromeda permit east of San Celso area.

Power Metal Resources PLC - metals exploration and development company with projects in North America, Australia, and Africa - Says Red Rock Australasia Pty Ltd has commissioned and received final historical reports and targeting assessments for all its Victoria goldfields licence applications except for the recently acquired EL007460 and EL007385 licences. Reports used to inform preparation of a NI 43-101 technical report for eight of the applications. Red Rock Australia is a joint venture between Power Metal, which has a 49.9% interest, and Red Rock Resources PLC, which holds the remaining interest. Red Rock Resources notes the Power Metal announcement.

By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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