The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Steppe Cement Ltd - Karaganda, Kazakhstan-based cement manufacturer - Reports revenue in year to December 31 of $86.7 million, up 3%, from $84.6 million the year prior. Pretax profit rose to $21.7 million from $21.4million with earnings per share of $0.082, up 5% from $0.078. Says the Kazak cement market remained stable at 11.6 million tonnes, with sales volume by Steppe Cement decreasing by 1% year-on-year, due mostly to logistical problems in the railway system in the third and fourth quarters. Adds ‘the market demand in 2023 has shown a decrease in the first quarter due to weather conditions, logistics and persistent high inflation and we expect the market to improve in the coming quarters. High interest rates will slow down the mortgage market but the economy remains strong driven by commodities.’
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Supply@ME Capital PLC - fintech platform - Secures a binding commitment provided by an institutional investor to invest in the first Inventory Monetisation in the UK. Describes the deal as another key milestone under its action plan to work with a consortium of European investors to fund IM transactions with a monetisable value of up to €5 million. Explains the funds committed will be used to monetise up to £1.8 million of warehoused goods of a UK client company, which provides parts and technology to the global marine industry. Chief Executive Alessandro Zamboni says: ‘This milestone will also help us to target our strategic goal to have white-label and self-funding transactions up & running in our core regions in 2024, with the first agreements with banks expected in 2023.’
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Aura Energy Ltd - London-based minerals company that holds projects in Mauritania and Sweden - Reminds shareholders offer to participate in the share purchase plan to raise a further A$1 million, closing on June 13. Follows previous statement that it has received firm commitments to raise A$10 million via the placement of approximately 54.05 million shares at A$0.185. Company is offering eligible shareholders the opportunity to participate in a share purchase plan to raise up a further A$1 million.
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Jadestone Energy PLC - oil and gas production company focused on Asia-Pacific region - Says the 94 million shares issued relating to the placing and subscription have today been admitted to AIM. Notes the placing and subscription raised $52.6 million and net proceeds of $50.0 million. Also confirms an open offer of up to 14.9 million shares at £0.45 per share to raise $8.3 million.
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Capital Metals PLC - Sri Lanka-focused mineral sands company - Notes reports in the Sri Lankan media regarding the appointment by the committee on Public Enterprises in Sri Lanka of an independent legal officer to investigate misappropriation within the Geological Survey and Mines Bureau. Says reports suggest some mining licences may have been awarded in an illegal manner.
Greg Martyr, chair of Capital Metals, comments: ‘We are pleased to see the questionable governance practices of the GSMB are beginning to be exposed. Our complaints and lobbying efforts in Sri Lanka appear to be having a positive impact.’ Adds: ‘We will continue with our extensive lobbying and legal actions with a view to resolving our issues amicably with the GSMB, but we will not rest until our legal rights have been fully restored.’
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NatWest Group PLC - high street lender - Completes the pricing of its $1.25 billion 5.808% senior callable fixed-to-fixed reset rate notes due 2029. Proceeds to will be used to fund general banking business.
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Reconstruction Capital II Ltd - closed-end investment fund - Reports net asset value at December 31 was €0.1757 per share, down 11% from €0.1971 the year prior. No dividend was paid. Adds investments held under the private equity programme had a fair value of €24.0 million, down 8.6% year-on-year from €26.24 million.
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Mirada PLC - Surrey, England-based provider of software for digital television - Says at Friday’s general meeting all resolutions were passed. As a result, notes cancellation of shares to trading on AIM will become effective on June 19. Adds company will re-register as a private limited company with the name ‘Mirada Ltd’ and adopt new articles of association, which is expected to take place on or around July 14.
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Sureserve Group PLC - Basildon, Essex-based compliance and energy services provider - Says court-sanctioned scheme of arrangement to facilitate offer for company by Cap10 Partners was approved.
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Fulham Shore PLC - owner of the Franco Manca restaurant chain - Says at the court meeting and general meeting held today the court-sanctioned scheme of arrangement to facilitate bid by Toridoll was approved. Executive Chair David Page says: ‘We are pleased that our shareholders have resoundingly recognised the attractiveness of this transaction for all our stakeholders.’
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Tintra PLC - London-based artificial intelligence-led bank - Says in the final stages of preparing a regulated business plan for submission to the National Bank of Rwanda which it currently expects to be submitting before the end of July. Further, forms Rwandan entity to facilitate the application and is in the final stages of a reaching a commercial agreement with an established local partner to enter into a joint venture that will accelerate the roll out into that region. Expects initial court proceedings between Fintech Leaders Fund LLC and the company to start in July. The company is engaged in settlement negotiations and is hopeful of reaching agreement much sooner than that date, however this cannot be guaranteed. Adds previously announced talks in Azerbaijan and regarding an an investment by a Middle Eastern investor are ongoing.
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SulNOx Group PLC - London-based greentech company which specialises in providing solutions towards the decarbonisation of liquid hydrocarbon fuels - Notes Green Sea Guard BV, a specialist in emissions analysis, reports that SulNOxEcoTM Fuel Conditioner resulted in a 6,200-fold reduction in particulates in its analysis over hundreds of data points. Nawaz Haq, Executive Director of SulNOx Fuel Fusions says: ‘The significance of GSG’s analysis of data cannot be underestimated.’ Haq describes results as ‘ground breaking.’
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Templeton Emerging Markets Investment Trust PLC - Edinburgh-based investment trust investing mainly in emerging markets companies - Reports net asset value of 174.1 pence at March 31, down 3.7% from 178.2p the year prior. Total net assets reached £2.08 billion down from £2.10 billion. Proposes annual dividend of 5.00p per share for the year, up from 3.80p.
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