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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Silverwood Brands PLC - London-based investing company targeting food, organic food, wellness, lifestyle and leisure sectors - Completes the acquisition of NBY London Ltd, owner of the non-toxic nail products brand Nailberry. ‘It’s great to be able to complete the acquisition of NBY London Ltd and bring the Nailberry Brand into the Silverwood group. I’m very much looking forward to working with Sonia in growing the business and adding more promising brands to the Silverwood portfolio,’ Executive Director Andrew Gerrie comments.
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Kropz PLC - African phosphate developer - Says Elandsfontein continues to make progress during the ramp-up phase. Expects the first bulk sale in late 2022. As of Monday, 18,500 tonnes of phosphate rock concentrate were in stock at the Saldanha Bay storage facility.
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TomCo Energy PLC - London-based oil explorer in the US state of Utah - Says it got a conversion notice from certain convertible loan subscribers to convert the £162,500 principal amount of the second tranche of its convertible loan and the associated interest of £8,125, 5%, into new ordinary shares. The conversion price has been determined to be 0.329 pence per new ordinary share.
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Kanabo Group PLC - Tel Aviv-based medical cannabis company - Say it was elected as a steering group member for the development of a British Standard for CBD non-tobacco Vape products. ‘We are delighted to be included within this PAS steering group. We have always taken a safety-first approach to our CDB products and delivery devices, which includes educating consumers about our products and their quality. We always undertake stringent safety and efficacy studies as part of our product development programmes and are unique in the industry in making these results available to the public,’ CEO Avihu Tamir comments.
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Logistics Development Group PLC - London-based Investment company formerly known as Eddie Stobart Logistics PLC - Buys a further 1.3 million shares in Finsbury Food Group PLC at an average price of £0.86 per ordinary share for a total cash consideration of £1.1 million. Following these purchases, LDG is interested in 10.1 million shares in Finsbury.
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Mirriad Advertising PLC - London-based in-content advertising technology - Confirms that it knows of no reason for the recent increase in its share price.
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Newmark Security PLC - security services provider - Says the publication of its annual report and accounts for financial 2022 has been delayed due to the impact of a number of Covid-19 cases within the finance team at one of its subsidiaries. Due to Covid-19 regulations, the company has been granted an extension to January 31 for the publication and filing.
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Pure Gold Mining Inc - Vancouver-based gold mining company focused on Canada - Says its current cash balance stands at roughly $2 million. Says its net working capital deficit is around $13 million. Reiterates that it suspended operations at its PureGold Mine and placed it on care and maintenance immediately. Explains that it withdrew its guidance for the fourth quarter of 2022, due to this. If additional outside financing is not obtained in the short term, it will not be able to meet its obligations as they become due, resulting in a default under its debt obligations, it says. ‘The company continues to work collaboratively with its lender, a fund managed by Sprott Resource Lending Corp to evaluate several near-term funding and strategic alternatives. This process will include evaluation of all available options, including possible sale or restructuring scenarios, in order to preserve asset value for the benefit of all stakeholders,’ the company says.
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Sylvania Platinum Ltd - Bermuda-based South Africa-focused platinum miner - Completes the Volspruit North Body JORC Scoping study for the Volspruit project in South Africa. Expects the milestone of the pre-feasibility study in 2023. Anticipates the feasibility study to start in 2024. Says that the first production milestone is expected in roughly four years. ‘While the current Volspruit Scoping study economics do not meet the company’s internal investment criteria and would not currently trigger a formal investment decision, I believe that the PFS that has already commenced will illustrate the significant upside that the inclusion of the Rh resource and South Body material would contribute,’ CEO Jaco Prinsloo comments.
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Minoan Group PLC - Surrey-based Greek hotel investor - Plans a placing and subscription of 36.0 million shares at 1 pence to raise £360,000. Three of its directors, George Mergos, Nick Day, and Marco Nijhof, are each subscribing for 5.0 million ordinary shares at 1p per ordinary share. It will be arranged by Peterhouse Capital Ltd.
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Hardide PLC - Oxfordshire-based advanced surface coating technology developer - Appoints Andrew Magson as non-executive chair of the group. He succeeds Robert Goddard who will continue as a non-executive director for the remainder of 2022. He has more than 15 years of experience serving on the boards of UK public companies in the engineering and industrial manufacturing sectors.
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Mpac Group PLC - Tadcaster, England-based packaging and automation company - Names Adam Holland as chief operating officer. The appointment will be effective from November 1. ’’It is a great pleasure to appoint Adam to the board of Mpac. His extensive international commercial and operational management experience at a senior level will be extremely valuable as Mpac looks to execute its long-term growth strategy. We look forward to working with him as we seek to develop the group,’’ Chair Andrew Kitchingman says.
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Frenkel Topping Group PLC - Manchester-based professional and financial services firm focused on asset protection - Harwood Capital LLP buys 6.7 million shares at the company at £0.58 for a total purchase amount of £3.9 million.
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