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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Custodian REIT PLC - Leicester, England-based real estate investment trust - Sells its Gosforth shopping centre for GB9.3 million. Says it acquired the 73,367 square foot shopping centre as part of its acquisition of DRUM Income Plus REIT in November, 2021. Says the price reflects a 3.5% premium to the £9.0 million apportioned value of the asset in 2021. Adds that it intends to invest the sales proceeds in its ongoing pipeline of building refurbishments, which is expected to enhance rents and improve the environmental performance of the company’s portfolio. Custodian Capital Ltd Managing Director Richard Shepherd-Cross says: ‘Shopping centres as a sector have not performed well since the Covid-19 pandemic and do not fit comfortably within our investment objectives of selecting high quality, well located regional properties in areas where future rental growth is underpinned by strong supply/demand fundamentals.’
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Valereum PLC - Gibraltar-based AQSE-listed firm which links mainstream currency products denominated in USD and GBP into crypto currencies - Says it is ‘continuing constructive discussions’ with the Gibraltar Financial Services Commission regarding the closing of its Gibraltar Stock Exchange acquisition. In October 2021, Valereum took out option to buy an 80% stake in the Gibraltar Stock Exchange from Global Exchange Group, which will retain a 20% stake. It provided no financial details for the transaction. ‘These discussions on the regulatory change of control of the GSX are constructive and solid progress is being made,’ it adds.
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Jade Road Investments Ltd - Hong Kong-based investment vehicle - Says the corporate bonds it issued on October 21, 2019 and May 11, 2020, totalling $3.6 million have reached maturity and are now due for redemption. Says it has not yet realised sufficient funds from its current program to redeem these bonds, and it is in discussion with the bondholders to discuss either restructuring and/or extending their maturity date. ‘In the interim, the company is reliant on the forbearance of its bondholders while this matter is resolved,’ it adds.
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Invinity Energy Systems PLC - London-based utility-grade energy storage manufacturer that produces batteries for the large-scale requirements of business networks - Agrees sales contract for a flow battery system to be used in a large-scale solar microgrid project in Southern California with Maadaoozh LLC, a wholly owned subsidiary of Indian Energy LLC. Under the agreement, 44 Invinity VS3 batteries with a combined capacity of 10 MWh installed at the Viejas Resort & Casino near San Diego, California as part of a large-scale solar microgrid project. Invinity expects first product shipments to site in the first half of 2023. Founder & Chief Executive Allen Cadreau says: ‘This project is a critical step towards that vision, delivering a system of systems that will see the Viejas Band use cutting-edge storage technologies to harvest the sun’s energy and power their tribal-owned enterprises.’
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Ace Liberty & Stone PLC - Edinburgh-based commercial property investment company - Proposes open offer to raise up to £4.6 million through an open offer of shares priced at 25 pence each. The issue price represents a 60% discount to the closing price on Thursday, being the last business day before the announcement. Says the funding will be used for the company to start implementing its strategy to acquire additional properties. ‘International events, as well as the UK political and economic situation, have created a very uncertain economic situation. The directors believe this will open up opportunities to acquire high-yielding properties to strengthen the portfolio and provide income for the coming years,’ the company explains.
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Supply@Me Capital PLC - London-based inventory monetisation platform - Pays £3.5 million in cash to repay all outstanding amounts payable under its Mercator repayment option. Says it will no longer be required to issue any additional Mercator conversion shares to Mercator.
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Mirriad Advertising PLC - London-based in-content advertising technology firm - Wins ’Most Innovative TV Advertising Technology’ at the 2022 AdExchanger Awards. Says the award ‘signals further recognition of in-content advertising as a revolutionary format and Mirriad as a leader of the category.’ ‘The AdExchanger award is another vote of confidence in our patented technology and platform, which is bringing a new set of ground-breaking opportunities to advertisers, agencies and content owners alike,’ Chief Executive Stephan Beringer adds.
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