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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Sancus Lending Group Ltd - Guernsey-based alternative property finance - Says tender off of ZDP shares fully subscribed, with 979,001 being validly tendered. Shares to be purchased at 164.64 pence, £1.6 million in total.
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Versarien PLC - Cheltenham, England-based engineering materials company - Handed £5 million by UK government, through innovation arm, for a project. The project is named G-SCALE, meaning graphene, seat, concrete, arch, leisure, elastomer. ‘The award, which followed a rigorous process of assessment, was to facilitate the production of sufficient quantities of graphene to enable commercialisation of graphene-enhanced products in these five priority application areas,’ Versarien says.
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Tirupati Graphite PLC - graphite and graphene mining and processing in Madagascar - Raises £5.0 million through institutional and private placing of 14.3 million shares at 35 pence each. Price is a 17% discount to 41.50p closing price on Friday. ‘The fundraise has been undertaken to provide the company the required financial resources to meet all its obligations to complete the acquisition of Suni Resources,’ Tirupati says. In addition, company announces variation to agreement with Battery Minerals Ltd to acquire Suni. Tirupati to pay A$2.5 million, about £1.4 million, of capital gains tax, as assessed by tax authorities in Mozambique.
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Condor Gold PLC - gold exploration company - Proposes raising £4.0 million from open offer. One open offer share will be offered for every six existing shares at an issue price of 15 pence. Alongside the £1.0 million convertible loan notes issue from November, the company will raise a total of £5.0 million.
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Seed Innovations Ltd - Guernsey based wellness and life sciences company - Notes portfolio company Clean Food Group receives investment from Doehler Ventures. Backing will ‘accelerate scale up and market approval of sustainable palm oil alternative’. Seed owns 5.4% of Clean Food shares.
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Life Settlement Assets PLC - London-based investment trust focused on the United States - Says auction for Mutual Benefits Keep Policy Trust to take place on Thursday. ‘LSA notes this positive development towards resolving a longstanding issue for the business. It will continue to keep shareholders updated on further developments and their implications for LSA,’ company adds.
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Mobeus Income & Growth 4 VCT PLC - venture capital trust - Sells investment in EOTH Ltd, receiving £5.1 million in cash. Generates £5.6 million gain over tenure of investment, about 5.34 pence per share. The Income & Growth VCT PLC also sells investment in EOTH, receiving £7.3 million in cash from sale. Makes realised gain of £8.2 million over life of investment.
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