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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Lords Group Trading PLC - London-based distributor of building, plumbing, heating and DIY goods - Reports the sale of its subsidiary Lords at Home Ltd for £805,000 to the current managing director of the business. During 2022, Lords at Home generated revenue of £3.0 million and contributed earnings before interest, tax, depreciation, and amortisation of £80,000, it says. ‘I am confident that the sale of Lords at Home Ltd is a good outcome for all stakeholders across both Lords Group Trading Plc and Lords at Home Ltd. We are confident that under its new ownership, Lords at Home will uphold its customer and colleague first approach. As a group we are focused on disciplined capital allocation to deliver strategic growth and the divestment of Lords at Home reflects this approach,’ Chief Executive Shanker Patel comments.
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Streaks Gaming PLC - London-based ’conversational gaming’ products provider - Enters an advertising partnership with FanDuel, a sportsbook in the US. Does not disclose the financial value of the contract. ‘We are thrilled to be partnering with FanDuel. Their reputation and reach in the sports betting industry will allow us to further enrich the Streaks ecosystem, giving users greater choice and access to a wider selection of rewards for first time deposits on multiple platforms. We also believe this will have a positive impact on our revenue per customer as the customer base matures,’ CEO Mark Rutledge says.
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Tintra PLC - Windsor, Berkshire-based firm building banking and infrastructure technology systems - Notes that it received an update from the US Patent & Trademark Office on patent applications. Says that the office has now indicated the original filings for the two patents contained multiple inventions and not single ones as originally expected. Says that it has sought independent patent protection for each of the different inventions. ‘Due to the highly innovative and complex nature of the infrastructure that we are creating to enable future regulated identity systems, using web 3.0 technology, we were aware that there would be a requirement for multiple inventions to be ultimately filed. This positive feedback from the USPTO has now confirmed these initial thoughts, and this now gives us a strong base from which my team can build our web 3.0 patent portfolio upon, which based on this news today we now expect to be adding to significantly over the coming months,’ Chief Innovation Officer Davy Smith says.
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Atome Energy PLC - Leeds, England-based producer and marketer of green hydrogen and ammonia - Enters into a joint venture deal with Cavendish to develop green ammonia and fertiliser projects with focus on Central America and the Caribbean. The new joint enterprise is called National Ammonia Corporation SA. ‘We are excited as to the potential of NAC. The establishment of NAC shows the clear intent of ATOME to deploy its innovative business model and know-how in other geographies. With the Villeta Project in Paraguay, we have taken a significant industry lead that we are able to roll out and replicate under the right conditions. Our partnership with Cavendish, a company established by the founders and owners of Grupo Purdy, offers ATOME a very attractive opportunity with a strong local partner to accelerate the development of a pipeline of international scale projects with strong local demand for green fertilisers,’ CEO Olivier Mussat says.
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Smarttech247 Group PLC - managed detection & response company - Wins ‘a number’ of new multi-year contracts with its automated managed detection and response platform. This includes a three-year agreement with a large US tech company and a two-year agreement with a ‘prestigious university in Ireland’ worth $400,000 and $450,000 respectively over the lives of the contracts. ‘We look forward to working in partnership to provide improved security solutions to all our customers and will update the market on future progress in due course,’ CEO Raluca Saceanu comments.
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Pembridge Resources PLC - London-based copper-focused mining company - Notes that Minto Metals found multiple ‘high-grade’ copper intersections from follow-up drilling at Minto North Including 1.91% copper over 34.59 metres. It holds a strategic investment in the Minto copper and gold mine in Yukon Territory. ‘These results are encouraging, giving Minto confidence to continue drilling at Minto North with an expectation of increasing mineral inventory,’ CEO Gati Al-Jebouri comments.
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Heathrow Airport - main international airport serving London, England - Says its Chief Executive John Holland-Kaye will stand down during 2023. He has been in the position since 2014. ‘John has been an extraordinary leader of Heathrow. During the past nine years, he has worked tirelessly and collaboratively with shareholders, ministers, airlines and other stakeholders to ensure the country can be proud of its ’front door’. The board would like to put on record our gratitude to John for his dedication and commitment to Heathrow throughout his tenure as CEO,’ Chair Deighton says.
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Panther Metals PLC - Mineral exploration company focused in Canada - Discovers additional volcagenic massive sulphide mineral system at its Obonga project. ‘Confirmation that the Obonga greenstone belt contains high-grade zinc grades at potentially commercial intervals is a defining moment for Panther Metals and its shareholders. We took control of nearly 90% of this greenstone belt, located just a 2.5 hour drive from the major port of Thunder Bay, due to the scale and exploration opportunity rarely witnessed, or available, in a tier one mining jurisdiction today,’ CEO Darren Hazelwood comments.
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Block Energy PLC - London-based oil and gas company focused in Georgia - Closes a senior secured loan facility of USD 1.1 million. Says that the funds will provide the company with additional headroom to accelerate its project I development programme. ‘The loan facility will allow Block to accelerate its Project I development programme, with the aim of increasing near-term cashflows, without the need for dilutive financing. It also means Block can acquire long-lead items, required for the drilling of additional sidetracks and wells on the West Rustavi/Krtstanisi field. This loan facility strengthens our position going into a busy 2023, when we aim to increase production from project I and progress our other three projects,’ Chair Phil Dimmock says.
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Hurricane Energy PLC - Surrey-based oil and gas producer in fields offshore west of Shetland - Confirms that the sealed court order confirming the reduction of capital and the associated statement of capital was approved by the High Court on January 31. Confirms that following the reduction of capital, the issued share capital of the company remains at 2 million ordinary shares of £0.001 each. ‘The registering of the court order with the Registrar of Companies will complete the reduction of capital process, which allows the company to make capital returns to shareholders. The completion of the process does not itself automatically trigger a capital return and, as previously announced, the next steps in terms of timing and exact quantum of a return of capital to shareholders will be decided in conjunction with the ongoing formal sales process and we look forward to updating shareholders in due course,’ Chair Philip Wolfe comments.
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MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - Executes a deed of variations with Mercer Street Global Opportunity Fund LLC for convertible securities agreements entered into between the company and Mercer in 2020 and 2022. This includes the refinancing of $2.1 million worth of convertible securities which were due to mature in November 2. Extends maturing date by 15 months to February 1, 2024
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