The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Scottish Oriental Smaller Companies Trust PLC – Asia focused investment trust - Says net asset value total return for the six months to February 28 is minus 2.8%, performing better than the MSCI AC Asia ex Japan Small Cap Index which is down by 4.5% during the same period. NAV per share falls 4.7% to 1,204.90 pence at the end of February, from 1,264.54p at the end of August. Its portfolio is most notably lifted by exposure to Taiwanese companies, with key detractors being its holdings in India and Indonesia. Having paid out a dividend of 11.5 pence for the previous financial year ended August 31, it says it is ‘too early to make a forecast of the distribution for the current financial year’. Looking ahead, it forecasts Covid restrictions in China and Hong Kong will hurt the outlook for these regions, but that demand in other countries in Asia will continue to recover, especially in Indonesia and the Philippines.
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WANdisco PLC - Sheffield-based data-management software company – Says following a strong influx of orders for its LiveData Migrator product, bookings in the first quarter of the year are $5.8 million, multiplied year-on-year from $1.1 million. Ending remaining performance obligations for the period are around $14 million, over triple that of $4.2 million in the first quarter of 2021. Says company is ‘well placed to capture significant market opportunities in high-quality IoT-driven deals and expand into new verticals’ into the second half.
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Treatt PLC - Bury St Edmunds-based natural extracts and ingredients supplier – Says revenue in its half-year ended March 31 is up 9% year-on-year to £66.3 million from £60.8 million, as its order book grows in excess of 15% with a ‘particularly strong pipeline in healthier living, citrus and coffee categories’. Expects operating profit and margin to be weighed in its second half, as beverage consumption trends return to normal seasonality. Half-year results will be announced on May 10.
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Avingtrans PLC - provides components and systems for the energy, medical and industrial sectors - Wins two new nuclear contracts worth $7 million for its Hayward Tyler division to be completed by June of next year, with South Korean customer Korea Hydro & Nuclear Power. HT will provide critical nuclear safety-related spare parts to reactors in South Korea. Contracts are of ‘strategic significance’, and show how the potential for HT in the South Korean market, Avingtrans says.
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Tiger Royalties and Investments PLC - mining royalty and streaming - Says net portfolio value as of March 31 is 0.20 pence per share, an increase of 11% from 0.18 pence per share at the end of December. Current cash funds at March 31 are £22,052.37. Tiger Royalties will next update on quarterly NPV at some point following June 30.
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Cizzle Biotechnology Holdings Plc - London-based diagnostics developer – Enters into further 12-month research agreement with the University of York to develop potential applications in cancer diagnosis and therapy, to incorporate Cizzle’s proprietary biomarker for cancer detection. Collaboration will begin on June 25, and follows a collaboration announced last September to develop and validate molecular tools for cancers diagnosis and therapy.
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Fox Marble Holdings PLC - London-based marble producer – Suspends shares as it arranges £400,000 funding by way of a convertible loan note to fund the acquisition of Eco Buildings Group Ltd. Says proposed acquisition will be classed as reverse takeover. Fox Marble will change its name to Eco Buildings Group PLC, as well as re-organise its capital and undertake significant capital expansion. The marble company says any benefits from a successful legal conclusion in the Republic of Kosovo will be structured to only be distributed to current shareholders of Fox Marble. ‘The Fox Marble business unit within the enlarged group will continue to grow its own business as previously and additionally benefit from supplying its processed marble to the housing manufactured and installed by the Eco Buildings unit,’ says Chief Executive Officer Christ Gilbert. Shares will resume trading on the publication of an admission document, or until acquisition negotiations are terminated.
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STM Group PLC - Isle of Man-based pensions and insurance administrator – Says its application to appeal the judgement of the Court of Appeal in the Adams vs Carey case has been declined, is informed by the Supreme Court. The 2018 case relates to an investment made in 2012 prior to its acquisition of Carey UK Pensions LLP in 2019. ‘A condition of the acquisition was the indemnity on any claims in the Adams v Carey case, with the benefit of significant existing professional indemnity cover held by the vendors. The decision therefore does not directly impact STM’s exposure in this case, but it will have implications for the financial services industry more broadly,’ the company says.
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Prospex Energy PLC - investment company focused on European gas and power projects – Pays €2.2 million in consideration and working capital to become 100% owner of UOG Italia Srl, a subsidiary of UOG Holdings PLC. Prospex now holds 37% working interest in the Podere Gallina License, with its ownership of UOG Italia and pre-existing 17% share from its subsidiary PXOG Marshall Ltd. United Oil & Gas says as a result of the sale, it exits the Italian market and is no longer liable for €800,000 investment into Selva gas development.
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