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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Proton Motor Power Systems PLC - Newcastle-based producer of hydrogen fuel cells and electric hybrid systems - Receives an order from Umstro GmbH for 18 HyModule S8 hydrogen fuel cell systems. Anticipates that the systems will be provided to Umstro throughout 2023 and into 2024. Does not disclose the financial details of the deal.
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Caerus Mineral Resources PLC - copper miner in Cyprus - Sells its Cyprus subsidiaries to PM Ploutonic Metals Ltd and Indo-European Mining PR Ltd for $528,001 in cash, in staged payments. Says that it is now focused on the acquisition of larger upstream development opportunities in the battery metals sector. ‘We are pleased to announce the signing of the formal agreement for the sale of our Cyprus portfolio, which will complete at the end of June. Whilst we retain an interest in the Troulli Project’s success and believe the asset is in strong hands, this transaction marks the end of Caerus’ direct involvement in Cyprus,’ Chair Chris Lambert comments.
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BlueRock Diamonds PLC - diamond producer focused on South Africa - Says that there was no disruption to operations when its plant restarted. Explains that there was sufficient stock on the ore stockpile and run-of-mine pad. The major remedial action was the installation of a fire retardant conveyor belt and activation of proximity distance sensors on the plant at the mining operation, it says.
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Mode Global Holdings PLC - London-based fintech with a bitcoin banking app - Plans to wind down customer operations for Fibermode, JGOO Ltd and Greyfoxx Ltd. Explains that it is a challenging time in the crypto market and the group has faced considerable headwinds along the way. Decides to close Fibere Ltd and JGOO Ltd. Says the Mode mobile application will be shut down too. Says it will continue to look for ways to rebuild operations in the cryptocurrency industry.
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Futura Medical PLC - Surrey-based pharmaceutical company - Says its partner Cooper Consumer Health begins pre-launch activities ahead of MED3000 ED, a topical gel formulation for the treatment of erectile dysfunction. Confirms that Cooper is on track to launch Eroxon in the first half of 2023. Expects the first product supplies to be available in the coming months. ‘As part of our close strategic partnership with Cooper, we are pleased to note that as planned, Eroxon will soon be made available to men suffering from ED, especially those with mild and moderate ED, to improve their erectile performance in a fast, safe, effective and accessible way. We look forward to updating the market further in due course,’ Chief Executive James Barder comments.
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Lansdowne Oil & Gas PLC - North Celtic Sea-focused oil and gas company - Raises gross proceeds of £300,000 through the issue of placing shares. The placing shares will represent around 6.0% of the company’s share capital. Expects the proceeds to be sufficient to fund the company’s share of costs on Barryroe and for ongoing working capital requirements through to the end of May 2023. Tavira Financial Ltd acted as broker to the placing, it adds.
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Cadence Minerals PLC - early stage investment and development company within the mineral resource sector - Notes that Evergreen Lithium Ltd filed its admission prospectus with the Australian Securities & Investments Commission and the Australian Stock Exchange. Anticipates the admission date to be on March 10. ‘On behalf of the Cadence board, I am pleased that our investment into Lithium Technologies and Lithium Supplies have materialised into soon-to-be-listed Evergeen and its Byone and Kenny lithium projects. Once Evergreen lists on the ASX market, it will add further value to Cadence’s rounded portfolio of listed lithium investment vehicles, which include European Metals Holdings (AIM: EMH) and our Sonora Lithium assets,’ CEO Kiran Morzaria comments.
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FireAngel Safety Technology Group PLC - Coventry-based maker of home safety products such as smoke alarms and carbon monoxide detectors - Signs a three-year deal to supply smoke alarms within Yale’s alarm range. Says that the branded smoke alarms due to be launched in 2023. ‘This latest partnership with a highly experienced global partner further underpins our commitment to expanding our capability in IoT and connected technology and will support our strategy to build shareholder value by leveraging our differentiation in current and new customer markets. This agreement not only aligns FireAngel with a recognised household name in the adjacent domestic security market, but additionally demonstrates the future potential for collaborating through connected solutions,’ Executive Chair John Conoley comments.
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Guild Esports PLC - London-based e-sports company - Reports that Fortnite pro-player Anas El-Abd came first in a popular online Fortnite competition organised by Epic Games and won $1 million in prize money.
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Goodbody Health Ltd - Somerset, England-based wellness company focusing on local community measures - Partners with Datar Cancer Genetics to offer its circulating tumour cell-based multi-cancer screening solution Trucheck in the UK.
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UK Oil & Gas PLC - London-based exploration and production company focused on the UK and Turkey - Says that its subsidiary UK Energy Storage met with the UK energy minister on Wednesday. Says that the meeting covered all areas of UKEn’s energy storage hub project at Portland Port in Dorset.
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Downing Renewables & Infrastructure Trust PLC - investor in solar parks, wind farms and hydroelectric plants in UK, Sweden and Finland - Increases its revolving credit facility with Santander to £40 million from £25 million. Explains that the additional capital available will enable more investment in its ‘robust’ pipeline of acquisition opportunities.
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Chamberlin PLC - West Midlands-based castings and engineering company - Raises roughly £550,000 through a placing of 16.7 million new shares at a placing price of 3.3 pence per share with existing institutional and other investors. Cenkos Securities PLC and Peterhouse Capital Ltd acted as joint bookrunners, it adds. Plans to use the proceeds for working capital to support the continued delivery of its growth strategy and strengthen its balance sheet.
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LSL Property Services PLC - Newcastle-based estate agency - Completes the sale of its Marsh & Parsons London estate and subsidiaries agent to Dexter’s subsidiary for £29 million on a cash free debt free basis. Plans to use the proceeds to augment its existing cash balances which will be used to support LSL’s growth strategy, and in particular opportunities in financial services. ‘Marsh & Parsons trades only in Prime and Outer Prime Central London and is operated autonomously from other parts of our Estate Agency business. This disposal helps to further simplify the group structure to allow us to focus on maximising our core opportunities, particularly in our Financial Services Network business, whilst also reducing exposure to the more volatile London housing market,’ CEO Paul Johnson comments.
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Power Metal Resources PLC - London-based exploration company focusing on global metal discoveries - Enters the next stage of exploration on its Tati gold project located within the Tati Greenstone Belt near Francistown, Botswana. Confirms the presence of a large gold-bearing system and delineate a deposit.
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