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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Alkemy Capital Investments PLC - a London-based company focused on acquisitions in the mining and technology metals sectors - Announces that its subsidiary Tees Valley Lithium Ltd agrees to a 30-year lease with Sembcorp Energy UK for Tees’s lithium hydroxide processing facility in Teesside, England.
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Artisanal Spirits Co PLC -Edinburgh, Scotland-based distiller of single-cask and limited-edition whiskies - Increases existing credit facility to £21.5 million from £18.5 million and extends it to December 2025. Further, its subsidiary Scotch Malt Whisky Society signs partner deal in Malaysia. The company aims to double sales between 2020 and 2024. Managing Director David Ridley says: ‘The extended facility provides us with further firepower to continue to grow our membership base both in the UK and internationally, to launch the group’s American Whiskey proposition in the first half next year and to continue to invest in further spirit stock for ageing, underpinning ASC’s future growth.’
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Castillo Copper Ltd - Perth, Australia-based exploration company focused on copper across Australia and Zambia - Says its auger sampling campaign at Fence Gossan Prospect in New South Wales is completed. All samples have been sent to a laboratory and Castillo expects full interpretation in the next four to six weeks.
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Ecofin Global Utilities & Infrastructure Trust PLC - utility and infrastructure equity investment - At September 30, the trust reports a net asset value per share of 208.14p, rising 6.7% year-on-year from 195.11p. NAV total return for the year was 12.5%, outperforming the MSCI World Index, which fell 2.4%. The investment firm also says it will raise dividends to 7.80p on annual basis from February, compared to a total of 7.20p currently and compared to 6.60p for the financial year to September 30, 2021. ‘The drivers for EGL’s portfolio have been helped this year by the US’s very large renewables-supportive climate bill and a redoubling of efforts across Europe to fast-forward the energy transition with plans for significant additional clean power generation and transmission infrastructure. The long term thesis for superior growth in electricity demand - clean electricity demand in particular - and for major investment globally to modernise infrastructure is stronger than ever,’ Ecofin Global Utilities says.
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Eqtec PLC - Cork, Ireland-based gasification company focused on turning waste into sustainable energy - Notes its subsidiary Haverton WTV Ltd executes with Scott Bros Enterprises Ltd an option for a grant of a lease of Billingham site for a waste-to-power plant. Says option replaces conditional land purchase agreement, releasing Eqtec from liabilities. Adds that the lease option releases it from liability to purchase the Billingham site for £8.1 million.
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Ferro-Alloy Resources Ltd - Balasausqandiq vanadium deposit in southern Kazakhstan - Notes start of open pit geotechnical drilling, which will continue into 2023. ‘The results of the drilling and subsequent mechanical testing programme will be used to confirm the open pit slope design. In addition, a geophysical survey of the water supply bore field area is underway. The results of the survey will be used to define the fieldwork programme required to define the water extraction bore field required to support the projects water needs,’ Ferro-Alloy says. The company reiterates that it expects to publish the feasibility study for phase 1 of the project in mid-2023.
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Mercia Asset Management PLC - Warwickshire, England-based asset manager - Notes its largest direct investment by fair value nDreams Ltd buys Brighton-based game development studio Near Light Ltd for an undisclosed sum. Chief Investment Officer of Mercia & nDreams Board Director Julian Viggars says: ‘2022 has been a significant year for nDreams as it continues to firmly establish itself as one of the world’s leading virtual reality studios. The acquisition of Near Light is another positive development as it looks to scale its world class development capability, to fulfil a rapidly growing order book. We remain hugely excited by the potential of the VR market, particularly as nDreams already has partnerships with the key VR headset providers.’
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NB Global Monthly Income Fund Ltd - invests in traditional credit, such as bonds and loans, and in alternative credit, such as distressed credit, collateralised loan obligations, mezzanine debt, and club loan transactions - Says shareholders will vote on January 27 on winding down the company. In November, it announced it planned to wind down company as net asset value is likely to fall below £150 million due to December cash exit. ‘As previously announced in September 2020 when the semi-annual cash exit facility was introduced, the board stated that it intended to propose a wind-down of the company should its net asset value drop beneath £150 million in the future,’ NB Global said last month.
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Serica Energy PLC - London-based oil & gas company focused on the UK North Sea - Enters agreement to fully buy Tailwind Energy Investments Ltd from Tailwind Energy Holdings LLP for £58.7 million plus issuance of Serica shares. The acquisition includes the issue of 111.0 million Serica shares, which will represent up to about 29% of Serica’s enlarged issued share capital. On the basis of Serica’s closing share price from Monday of 278p per share, the transaction is valued at about £367 million, Serica says.
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