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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Fiinu PLC - Surrey, England-based fintech company - Says information and insights company TransUnion is supporting Fiinu Bank’s overdraft solution platform through TransUnion’s open banking offering and credit reference data. ‘This information will provide an in-depth understanding of a consumer’s financial situation and help Fiinu, which is a registered bank, to deliver robust open banking-driven eligibility checks of consumers applying for an overdraft,’ Fiinu adds.
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GRC International Group PLC - Ely, England-based provider of products and services for IT governance, risk management and compliance - Says IT governance wins G-Cloud 13 framework contract. Will provide more than 100 of its products and services through UK government’s digital marketplace. ‘This eliminates the need for its customers to go through a full tender process,’ GRC adds. ‘Launched in 2012, G-Cloud 13 is an online catalogue and the newest iteration of the G-Cloud framework, which is used by the UK public sector to identify and acquire a diverse range of cloud-based computing services.’
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Eco Atlantic Oil & Gas Ltd - Toronto-based oil and gas exploration company - Receives approval from South Africa’s Department of Mineral Resources & Energy and Petroleum Agency of South Africa for acquisition of additional interest in Block 3B/4B. Now holds interest of just over 26%.
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Corre Energy BV - Groningen, Netherlands-based renewable energy storage solutions and green hydrogen producer - Signs binding commercial terms for a 15-year offtake agreement with renewable power supplier Eneco. Deal concerns entire storage capacity of the Zuidwending compressed air energy storage in Netherlands. ‘Under the terms of the arrangement, Corre Energy will construct, operate and maintain the facility and Eneco will optimise the entire output of the storage site on behalf of Corre Energy. Eneco will provide market access services, enabling Corre Energy to benefit from revenue linked to the high flexibility value of the asset, while also guaranteeing a base level of income,’ Corre adds.
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Cizzle Biotechnology Holdings PLC - London-based diagnostics developer - Agrees put option to sell 5% interest in AZD 1656 asset, which treats inflammatory pulmonary and cardiovascular disease. Also sells royalty sharing agreement with St George Street Capital. Both sold to Conduit Pharmaceuticals Ltd for £3.3 million, to be satisfied in shares. In addition, Cizzle raises £115,586 through subscription of 7.4 million new shares at 1.6 pence each.
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Kropz PLC - African phosphate developer - Says in process of engaging with possible successor to Mark Summers as chief executive officer. ‘The formal appointment and announcement are expected to be finalised in early January 2023. In the meantime, Mark Summers has agreed to remain as CEO until the appointment is formalised,’ Kropz adds. Summers, and outgoing operating chief Michelle Lawrence, are staying with Kropz under short-term consulting agreements. Kropz adds: ‘Progress is being made with regards to the first bulk concentrate sale from Kropz Elandsfontein. The sale of approximately 30,000 tonnes of concentrate is expected to ship in early 2023. The product, which has been generated throughout the commissioning and ramp up period, will be sold at a discount to current market prices.’
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Star Phoenix Group Ltd - oil and gas company focused on Trinidad and Indonesia - Will be unable to appoints its new auditor or publish its results for the year ended June 30 by the end of 2022, as resolutions at its general meeting on Monday are rejected by shareholders. Shareholders vote for the removal of the auditor and against the appointment of a new auditor. As a result, the oilfield services company’s share will be suspended from trading on AIM from the morning of January 3.
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abrdn China Investment Co Ltd - Invests predominantly in Chinese equities - Gets regulatory approval for qualified foreign investor licence. Allows it ‘access to a broader investible universe within Chinese equities’.
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Triple Point Social Housing REIT PLC - London-based real estate investment trust - Notes Regulator of Social Housing takes enforcement action against My Space Housing Solutions, or My Space. My Space ratings downgraded to V4 for viability and G4 for governance, from V3 and G3, respectively. Triple Point Social Housing has 34 properties leased to My Space, representing 7.5% of contracted rent roll. Triple Point adds: ‘The group’s investment manager, Triple Point Investment Management LLP, continues to engage actively with My Space regarding improvements to its operations, with the aim of increasing rental payments and agreeing a payment schedule in respect of rent arrears. The manager also notes that My Space has sought to address a number of the concerns noted in today’s regulatory judgement. However, as part of the ongoing engagement with My Space, the group will consider whether it is appropriate to put in place alternative arrangements for some or all of its properties.’
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PureTech Health PLC - Boston, US-based biotherapeutics company - Says trial results find LYT-300 achieves blood levels of allopregnanolone ‘at or above those associated with therapeutic benefit’. Chief Medical Officer Julie Krop adds: ‘Today’s results make us very excited about the potential of LYT-300 to unlock the full therapeutic benefit of allopregnanolone, which to date has been limited to a small subset of patients.’
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