The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Ediston Property Investment Co PLC - Edinburgh-based real estate investment company - Completes a 10-year lease agreement on a newly created 21,000 square feet unit with Marks & Spencer Group PLC at Plas Coch Retail Park, Wrexham. Adds that M&S will pay a market rent 27% ahead of the independent valuer’s estimated rental value. Does not disclose further financial details. ‘Securing a tenant of M&S’s calibre is transformational for our asset and underscores the strength of the location and its attractiveness to national tenants. It also illustrates the preference of many retailers to choose out-of-town retail warehouse parks ahead of the high street and shopping centres as their favoured trading destinations,’ Investment Manager Calum Bruce comments.
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RTW Venture Fund Ltd - New York-based investor in life sciences, biopharmaceutical, and medical technology companies - Co-leads a $200 million series A round in Cargo Therapeutics LCC. Says that Cargo plans to use the proceeds for a phase 2 clinical development program and its pipeline of next-generation CAR T-cell programs and technologies. Co-leads a $45 Million series B-1 round in China-based pharmaceutical company Oricell Therapeutics Co Ltd. Says that the company plans to use the proceeds to support its core product clinical development in the US.
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Upland Resources Ltd - Malaysia-focused upstream oil and gas company - Says its joint venture partner in Sarawak Upland Big Oil Sdn Bhd conducted geological fieldwork as part of the works for the Block SK334 onshore Sarawak joint technical study. Says that the preliminary findings were promising. ‘Preliminary findings from the geological field work study have been positive, Upland notes within Block SK334 a number of areas of specific interest with analogous geological configuration and reservoir/trap/seal combinations as Brunei’s nearby Belait formation which is host to a number of proven oil and gas discoveries and oilfields,’ Chief Executive Bolhassan Di comments.
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Contango Holdings PLC - natural resource development company with operations in Africa - Completes the construction of a small-scale coke battery at the Lubu Coal Project in Zimbabwe. Says that it has produced around 4 tonnes of coke, from a sample of washed coking coal from Lubu. ‘The completion of the pilot coke plant will now enable us to generate larger coke production for testing, something required to enable us to conclude discussions under our memorandum of understanding and, as required, provide additional samples to other parties who have expressed interest in coke produced from Lubu,’ CEO Carl Esprey comments.
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Alkemy Capital Investments PLC - London-based company focused on acquisitions in the mining and technology metals sectors - Notes the completion of the acquisition of Britishvolt Tees Valley Lithium, a planned £3.8 billion Lithium-ion Gigafactory in Northern England by Australian Lithium-ion battery company Recharge. Explains that Recharge and its subsidiary Tees Valley Lithium Ltd signed an agreement to negotiate and finalise a definitive offtake agreement to supply tolled low-carbon lithium hydroxide into Recharge’s qualified supply chain. Says that the Britishvolt project will be the UK’s first Gigafactory and create a strategic economic and security asset which will play a critical role in the UK’s industrial and net zero strategies.
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Standard Chartered PLC - London-based, Asia-focused lender - Fully redeems its $1.00 billion fixed rate resetting perpetual subordinated contingent convertible securities. Says that the securities will be cancelled. Plans to make an application to The Stock Exchange of Hong Kong Ltd for the withdrawal of the listing of the securities, following the redemption.
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Canadian Overseas Petroleum Ltd - Wyoming, US-focused oil and gas company - Says its operating affiliate, COPL America, received a covenant waiver from its senior lender. Records production of 1,080 barrels of oil a day in January and 1,200 bbl per day in February, and estimates that production is currently at 1,400 bbl per day. Explains that it experienced several ‘severe winter storms’ at its Wyoming operations from late December to late February. ‘This has been a difficult winter in Wyoming and western North America in general. The weather we have experienced has been well above historical averages. The interruption in our production operations has been difficult for all of us,’ CEO & President Arthur Millholland comments.
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ValiRx PLC - Hatfield Heath, England-based life sciences company focused on early-stage cancer therapeutics and women’s health - Incoporates Inaphaea BioLabs Ltd as a new wholly owned subsidiary of the company and the cornerstone of ValiRx’s translational contract research organisation. Says Inaphaea will be headquartered in the its laboratory in MediCity in Nottingham and will offer a wide range of pre-clinical and drug discovery testing services to academic, biotech and pharmaceutical researchers. ‘After a great deal of hard work by the entire ValiRx team, I am pleased to share this news about the formation of Inaphaea; the first step of our longer term ambition to create the unique tCRO service offering for early stage drug development. Over the next few weeks, we intend to transfer our own projects into the Inaphaea lab to continue their progress,’ CEO Suzy Dilly comments.
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