The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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C4X Discovery Holdings PLC - Manchester-based developer of drug discoveries - Says over-expression or over-activation of MALT-1 has been observed in a range of lymphomas and leukemias such as MALT lymphoma, diffuse large B-cell lymphoma and chronic lymphocytic leukemia, suggesting that targeting of MALT-1 is a viable therapeutic strategy for treating haematological cancers. Adds that MALT-1 has now successfully demonstrated anti-cancer activity for one of its lead molecules in a preclinical xenograft study. The C4XD MALT-1 inhibitor programme has now advanced into the preclinical candidate selection phase.
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RPS Group PLC - Abingdon, England-based professional services firm - Says High Court of Justice in England & Wales approves acquisition of RPS by Tetra Tech Inc. Expects the acquisition to be effective from Monday. In September, the Nasdaq-listed consultancy and engineering services firm Tetra Tech said it would pay £636 million.
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Foresight Sustainable Forestry Co PLC - London-based forestry investment trust, managed by private equity firm Foresight Group LLP - Says its June 2022 equity fundraising proceeds are fully deployed following the completion of eleven acquisitions. Deploys further £19.2 million into nine afforestation properties and two forestry properties, ten of which are in Scotland and one in Wales. The acquisitions increase the portfolio by approximately 1,464 hectares and FSF’s total portfolio now covers 11,215 hectares. Also says it has secured the necessary planning permission, full consents and grant contracts for three Scottish afforestation properties in the portfolio. Expects to start planting at Upper Bar, Auchensoul and Redding Farm imminently and to complete all three sites by the end of April 2023.
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Mode Global Holdings PLC - London-based fintech with a bitcoin banking app - Says it has been in discussions with a number of counterparties in relation to a further more substantial equity fundraising, following the completion of a £2.0 million convertible loan fundraising in July 2022. ‘These discussions have taken place against a backdrop of considerable headwinds in the wider cryptocurrency industry which have been well documented,’ it says. Notes that despite headwinds it has secured FCA approval to add more tokens to its platform and being able to offer its Bitcoin cashback to users from over 300 leading retailers, but fundraising has been unsuccessful. Says it is now considering the disposal of the business or a subsidiary sale. Rita Liu has resigned from her position as CEO and director of Mode. ‘The board would like to reassure customers that their FIAT and crypto assets are safe and secure with no access restrictions. Mode does not lend out customer assets. Assets are kept safe and under customer control with our custody partners,’ Mode says.
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CPPGroup PLC - Leeds-based company, which provides products and services for financial services customers - Expects revenue for 2022 to up 19% year-on-year. Earnings before interest, tax, depreciation and amortisation expected to be better than market expectations at around £6.9 million. In 2021, CPPGroup reported revenue of £143.6 million and Ebitda of £7.5 million. ‘The core business (Blink, CPP India, CPP Turkey and Globiva) performed well during 2022 and we expect to make further progress in the current financial year. As expected, the legacy business continues to decline and plans for the ultimate withdrawal from it will be addressed over the medium term by the change management programme,’ it says. Expects to publish full year results on March 28.
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