The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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System1 Group PLC - London-based marketing and brand consultancy - Appoints James Gregory as chief executive officer with immediate effect. Says that he previously worked at HomeServe PLC as chief of staff, Tesco PLC as online director, and Capgemini Consulting. ‘I would like to welcome James Gregory to the board as CEO and I look forward to working more closely with him. James will lead a strong Executive team, supported by the board, focussed on delivering accelerated, sustainable growth in the interests of all shareholders,’ Chair Rupert Howell comments.
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UP Global Sourcing Holdings PLC - Manchester-based owner of homeware brands, including Salter - Hires Tracy Carroll as brand director. Says that she previously worked as an associate marketing director at Helen of Troy, an American designer. ‘We are very excited to welcome Tracy to Ultimate Products. Her experience at Helen of Troy will be invaluable as we expand our outstanding stable of homeware brands across new geographies and channels. Tracy’s arrival will turbocharge our marketing efforts as we seek to build on the incredible success we have had in reinvigorating and growing heritage brands such as Beldray, Progress and Kleeneze,’ Chief Executive Simon Showman comments.
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7digital Group PLC - London-based music licensing provider - Enters into an addendum agreement with Magic Investments for £500,000 loan. The total loan facility is now £1.0 million. The loan is repayable on October 1, 2023 and has a 5% interest rate per year, payable on a quarterly basis. ‘We are pleased to have secured this financing, and I’d like to extend my thanks to David on behalf of myself and the executive team for his trust and support,’ Chief Executive Paul Langworthy says.
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Blencowe Resources PLC - London-based miner focused on developing the Orom-Cross graphite project and Akelikongo nickel project in Uganda - Completes critical metallurgical test work on the Orom-Cross graphite project in Northern Uganda. Says that this work is ‘critical’ to understanding the quality of the end-product. Identifies that a 95-97% total graphite content pure concentrate is possible with low impurities. ‘This latest set of results sets us up nicely for the bulk sample trial we will be conducting on 100 tonnes of Orom-Cross composite in 1H 2023 and if these same results are produced from that exercise we will be largely pre-qualified in terms of end products delivered as concentrate,’ Executive Chair Cameron Pearce comments.
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450 PLC- London-based acquisition vehicle considering assets in the industrials, manufacturing, engineering, construction, building products, or support services sectors - Changes its name from Marwyn Acquisition Co PLC.
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Okyo Pharma Ltd - A London-headquartered biotechnology company - Files a registration statement on Form F-1 with the US Securities & Exchange Commission to list its American depositary shares, with each of them representing 65 shares ordinary shares. Notes that the number of ADSs to be offered and the price range for the offering still has to be determined. ThinkEquity is acting as the sole bookrunning manager for the offering.
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Benchmark Holdings PLC - Sheffield, England-based aquaculture genetics, health and nutrition company - Allocates 35.2 million new shares under its private placement and its Norwegian retail offering at a subscription price of NOK4.50 each, or £0.4. Raises NOK158 million, or roughly £13 million, to complete the admission of its shares on Euronext Growth Oslo on December 15. Notes that the shares will not be tradeable until the first day of admission and timely payment.
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Crossword Cybersecurity PLC - Richmond, England-based cybersecurity solutions company - Partners with Sticky Password, a password vault on the market, to integrate Arc, a dark web monitoring solution. Does not disclose the financial details of the partnership. ‘We’re delighted to be working with the team at Crossword. Arc is an extremely robust dark web monitoring solution that enables us to provide our users with frequent updates containing detailed information about real security threats. Together, we’re creating an innovative way of providing users with actionable data that will increase their online security while preserving their privacy,’ Peter Lipa, vice president of Sticky Password North America, says.
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AfriTin Mining Ltd - tin mining company which operates the Uis tin mine in Namibia - Provides notice of an extraordinary general meeting to be held on January 5, 2023 at 1100 GMT. Seeks to change its name to Andrada Mining Ltd as part of its meeting, to reflect its expanding lithium and tantalum resources alongside its existing tin production. Believes that its Uis licence could host a globally significant lithium resource. ‘The name change pays homage to an individual who discovered what is now such an important lithium mineral. It also marks the expanded production for us in Namibia beyond our existing tin operations, which still remain a key part of our strategy, whilst signalling to investors our purpose to deliver materials key to the energy transition,’ CEO Anthony Viljoen says.
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Canadian General Investments Ltd - closed-end equity fund - Reports on an unaudited basis that its net asset value per share as at November 30 amounted to $51.80. Records year-to-date and 12-month NAV returns, with dividends reinvested, of negative 14.1% and negative 12.7%, respectively, compared to a year before. This represents an underperformance compared to its benchmark, the S&P/TSX Composite index, which returned negative 1.0% and 2.0% on a total return basis for the same period.
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Jangada Mines PLC - London-based mining company focused in Brazil - Notes that Blencowe Resources PLC ‘successfully’ completed its critical metallurgical test work. Holds a roughly 9.5% stake in the company.
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VPC Specialty Lending Investments PLC - invests in asset-backed loans to businesses originated by non-bank lenders - Shareholders Metage Capital Ltd and Staude Capital Ltd call for call a general meeting in order to discuss the persistent discount which exists between the company’s share price and its net asset value per share. ‘The company does not currently have a detailed plan in place to address the structural issues that we have identified. We believe that our plan is the only long-term and credible plan that will enable the company to deliver for its shareholders,’ Staude Capital says. The shareholders propose VPC embeds creation of a realisation class of shares every three years in its constitution. ‘As it is not possible for the realisation share class to be redeemable, it is expected that returns on each share class would be made by periodic tender offers to buy back those shares at the prevailing net asset value per share,’ they added/
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British Smaller Companies VCT2 PLC and British Smaller Companies VCT PLC - venture capital trusts managed by YFM Equity Partners - Say they have received applications exceeding £15 million for new share offers in the 2022/23 tax year. Raises £50 million in total, with an over-allotment facility of up to a further £25 million. Say that the proceeds will be allocated between the companies in accordance with the terms set out in the prospectus.
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