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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Aterian PLC - Morocco-focused metal exploration and development company - Says the International Tin Supply Chain Initiative approved its Eastinco Ltd application in Rwanda and granted it a membership. ‘The granting of the ITSCI membership is an important milestone for the company and unlocks the capability to build and develop a metals trading business in Rwanda and the wider Great Lakes Region of Central Africa. It remains a strategic objective to produce revenue and increase mining productivity to fund our exploration efforts and this is a key step to meeting that goal,’ Chair Charles Bray comments.
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CVC Income & Growth Ltd - investment firm - Declares a quarterly dividend of 2.5 pence, up from the previous indication of 1.5p. ‘The company’s underlying portfolio continues to produce increasingly high levels of cash income, as indicated in the recent newsletter published on 27 January 2023. As a result, the company has received supplementary income distributions from the Investment Vehicle which enable it to increase its dividend distributions in respect of the fourth quarter of 2022 beyond the level previously indicated to shareholders,’ Chair Richard Boleat comments.
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Nostrum Oil & Gas PLC - Amsterdam-headquartered oil and gas company with operations in Kazakhstan - Restructures its $725 million 8.0% senior notes due July 2022 and $400 million 7.0% senior notes due February 2025, issued by Nostrum Oil & Gas Finance BV. Confirms that it has now received confirmations of authorisation from the other relevant sanctioning authorities, as the restructuring was condition to the receipt of certain outstanding required licences.
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Conviction Life Sciences Co Ltd - investment trust - Decides not to proceed with its initial public offering due to ‘current market uncertainty.’ Says that market conditions continue to be challenging.
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Iconic Labs PLC - London-based media and technology business - Converts 100 convertible notes into 869.6 million shares at a conversion price of £0.000115 at the aggregate principal amount of £100,000 on January 26. Adds that it converted 1.4 billion shares at a conversion price of £0.000108 at the aggregate principal amount of £150,000 on January 27. Applies for the 2.26 billion new ordinary shares to be admitted to trading on the Main Market of the London Stock Exchange which is expected to be on or around February 2.
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Tintra PLC - Windsor, Berkshire-based firm building banking and infrastructure technology systems - Receives the $10.0 million in settlement of the subscription for 684,594 new ordinary shares priced at a subscription price of 1178 pence per ordinary share. The subscription has been made by Ares FZE LLC, which will hold 4.2% of the ordinary shares in issue, on admission of the shares, it says.
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Ashtead Group PLC - London-based industrial equipment rental company focused on the US - Closes its previously announced offering of $750 million aggregate principal amount of 5.550% senior notes due 2033.
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Real Estate Credit Investments Ltd - specialist investor in European real estate credit markets - Completes one deal worth £45.2 million since September 30. Maintains its dividends at 3p per quarter. Cash reserves remain targeted at between 5% to 10% of its net asset value. Notes that the present crisis is set to continue through 2023, resulting in further constraints on bank lending and alternative sources of capital. Expects to deploy its currently available cash resources to its near term commitments and to build cash resources towards a ‘very compelling emerging opportunity set in both senior loans and bonds’.
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Baronsmead Venture Trust PLC & Baronsmead Second Venture Trust PLC - London-based investment firms - Publish a prospectus for the offers for subscription to raise £40 million in total with the discretion to utilise over-allotment facilities to raise a further £10 million, as announced on December 16. Allot 17.1 million shares following the first allotment under the offer. Expects that admission will occur and dealing will start on or around February 3.
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Ninety One PLC and Ltd - London and Cape Town-based money manager - Reports that Forty-Two Point Two buys 34,610 Ninety One shares for £1.96 each on January 23 and 9,631 shares at £1.96 on January 26. Forty-Two Point Two is an associate of Hendrik du Toit, Kim McFarland, Johan Schreuder, Adam Fletcher, and David McGillveray.
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