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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Tungsten West PLC - mining company focussed on restarting production at the Hemerdon tungsten and tin mine in Devon, England - Raises £7 million via oversubscribed convertible loan note offer announced on April 3. Had hoped to raise minimum £5 million. Intends to offer all qualifying shareholders the chance to join in an open offer to raise up to further £2 million, taking the maximum total proceeds from the fundraising to £9 million.
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Seraphine Group PLC - London-based maternity wear retailer - Confirms offer from Mayfair Equity Partners has closed. Mayfair receives total acceptances from 98% of shareholders. Says remaining shares will be bought by compulsory acquisition procedures. Notes cancellation of trading in Seraphine shares took place earlier today.
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New Energy One Acquisition Corp - UK special purpose acquisition company - Confirms first financial statements have been filed. States the board is satisfied by the progress made in assessing opportunities and identifying a target company and believes it is well positioned to complete a business combination.
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Drumz PLC - Beaconsfield, England-based investor in the software sector - Seeks admission to AIM market for new company to be called Acuity RM Group PLC which will be formed from the acquisition of Acuity Risk Management by Drumz which constitutes a reverse take-over. Terms of the deal were announced on April 5. Executive Director Simon Marvel will hold 26% of equity in the new company. Market value on admission will be £5.4 million, with the expected admission date April 25.
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ICG-Longbow Senior Secured UK Property Debt Investments Ltd - Guernsey domiciled, closed-ended, premium listed investment company - Announces interim dividend of 0.5 pence covering the period November 1, 2022 to January 31, 2023. Explains the company’s loan portfolio and the interest income it generates continues to reduce, and as a result the dividend is lower than prior quarters. States dividends will continue to be paid only as cash flow and earnings prudently allow. Receives partial £4.2 million repayment of the Northlands loan, following the sale of certain of the properties securing the loan. Expects additional repayments in the near term along with full recovery of the outstanding loan balance. Intends, on receipt of repayments, to continue capital distribution programme to shareholders.
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Scottish American Investment Co PLC - broad-based investment trust - States all resolutions at today’s annual general meeting were passed. Renews authority over the issue of ordinary shares, treasury shares, the pricing of any issues and share share buybacks.
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