The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Aberdeen Diversified Income & Growth Trust PLC - Edinburgh-based investor across asset classes aiming for reliable income and growth - Net asset value per share at September 30 falls 3.4% to 117.63 pence from 121.73p a year prior. Declares a total dividend of 5.60p each, up from 5.52p. Pretax net return drops to £1.4 million from £21.1 million. Looking ahead, Aberdeen Diversified says it is ‘well-protected in the current environment’ and ready to take on an advantage of growth opportunities when the market improves. However, it notes risk high inflation and the cost of living crisis, rising interest rates and the Russia/Ukraine conflict.
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AQRU PLC - London-based decentralised finance incubator - Acquires a ‘significant’ undisclosed shareholding in digital assets and cryptocurrencies-focused legal practice LawBEAM Ltd to drive the development of a technology-driven legal and regulatory solution. Notes that LawBEAM’s solution platform is under development and will launch in 2023. Aqru Chief Commercial Officer Digby Try says: ‘With the LawBEAM platform, we’re leveraging our technological, crypto and blockchain experience to offer organisations holding digital assets access to intelligence and analysis across multiple countries.’
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Ariana Resources PLC - exploration firm with interests in Turkey, Cyprus and Kosovo - Provides updates on Asgard and its associated investments. Says Panther Metals finds 70.6 megatonnes of 0.7% nickel and 460 parts per million of cobalt. Notes that Pallas completes maiden field programme over five licences. Further, says that Annamite identifies significant copper and gold system in Laos. ‘We continue to identify other high-quality exploration opportunities based on clever exploration targeting methodologies or those in which new exploration concepts are worthy of testing. We are on the hunt for world-class discoveries and we look forward to working with our investee companies and their local teams to bring these about,’ says Managing Director Kerim Sener.
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Canadian Overseas Petroleum Ltd - Calgary-based international oil and gas firm - Notes costless hedge restructuring of its West Texas Intermediate and Butane hedges, effective from the start of 2023, as Canadian ‘prepares for senior debt refinancing in the first quarter of 2023.’ The company adds that a planned West Texas Intermediate swap at a price of $52.87 per barrel for around 1,000 barrels per day has been cancelled. This was originally planned for January to June 2023. President & Chief Executive Office Arthur Millholland says: ‘Recent WTI weakness has provided the opportunity for COPL to execute this hedge restructuring without a cash cost to unwind the positions and in a manner that will minimize near term hedge losses that have constrained our pace of development. We are pleased with the result as it is expected to provide COPL with increased exposure to WTI upside and stabilised operating cash flow in early 2023. It also provides for a level of revenue protection and maintains cost protection for butane injections at our Shannon Miscible Flood.’ The company says it is currently production between 1,400 and 1,500 bbls/d due to ‘extremely cold weather.’ In May, Canadian said production was on average 1,591 bbls/d in the first quarter that ended March 31. It fell to 1,376 bbls/d in the second quarter ended June 30.
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Cooks Coffee Co Ltd - New Zealand-based coffee chain - Issues 4.6 million shares at NZ$0.36 to raise NZ$1.7 million, about £890,000, in shortfall placing in rights issue. Following admission, Cooks will have 58.1 million shares of no par value trading on the Access Segment of the AQSE Growth Market.
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Eurasia Mining PLC - Russia-focused mining and mineral exploration company - Mulls selling its Russian assets. Executive Chair Christian Schaffalitzky says the company is ‘working with counterparties in BRICS countries regarding the possible sale of our Russian assets, a process which we appreciate has now run on longer than the company’s management team anticipated.’ Regarding its West Kylim operation near Ekaterinburg, the company says that ‘a late season infill drilling programme to determine the final 2023 mine design has been completed.’ Further, Eurasia says that a definitive feasibility study at Monchetundra in Russia ‘for the Loipishnune and West Nittis open pits has been submitted for approval.’
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Gresham House Renewable Energy VCT 1 PLC and Gresham House Renewable Energy VCT 2 PLC - investment firms - Both declare financial year to September 30 dividend of 2 pence per share, up from none a year prior. Both note positive results of the solar assets portfolio remediation work, in line with expectations, while highlighting ‘exceptional costs’ in the past two years.
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Homeserve PLC - Walsall, England-based home emergency repairs provider - Notes High Court of Justice in England & Wales sanctions its £4.08 billion acquisition by Brookfield Infrastructure Partners LP. Homeserve expects the takeover to become effective on January 5, following the delivery of the court order to the registrar of companies, which it anticipates a day prior.
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Sealand Capital Galaxy Ltd - Asia-focused digital investor that offers financial and strategic support to entrepreneurs - Issues 115.2 million new shares to Executive Chair Law Nelson at £0.0021. Says issue to Law worth £241,944 is partial conversion of loan. Law now holds 50.7% stake of the enlarged issue. The company expects the shares to trade around January 5.
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Supply@Me Capital PLC - London-based inventory monetisation platform - Enters agreement with blockchain enterprise service provider VeChain Foundation to fund $10 million of Inventory Monetisation transactions. Says deal with VeChain will leverage minting of non-fungible tokens to be subscribed for by VeChain. Adds that total value of the initial warehoused goods monetised was about $1.6 million.
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