The following is a round-up of updates by London-listed companies, issued on Friday, Thursday and Wednesday and not separately reported by Alliance News:
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Allergy Therapeutics PLC - West Sussex, England-based commercial biotechnology company - Announces that all foreign direct investment clearance conditions have been satisfied relating to the equity financing it had announced in April. The financing will raise around £40.8 million via ZQ Capital and Southern Fox subscribing for a total of 3.39 billion subscription shares. The proceeds will be used to repay debts under Allergy’s £40.8 million debt facility.
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Braemar PLC - London-based shipbroker and advisor in shipping investment - Aims to release results for financial year 2023 that ended on February 28 next month. Expects revenue to grow to at least £150 million from £101.3 million a year prior. Expects underlying operating profit of at least £20.0 million, up from £10.1 million, but for this to fall to £18 million in financial 2024, in line with market consensus. Further, it expects underlying operating profit in the first half of financial 2024 to be at least £7.0 million, about 36% lower than £10.9 million a year prior. Further, Braemar anticipates its total forward order book in the second half of financial 2024 to be 21% higher than a year before. Meanwhile, notes that an investigation into a 2013 transaction is nearing completion. The investigation was looking at a 2013 transaction of around $3.0 million, and involving payments being made through to 2017.
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Helium Ventures PLC - special purpose acquisition vehicle - Raises £250,000 via issuing 6.3 million shares at 4 pence each. Issues additional 812,500 shares at 4p each relating to the placing and broking fee retainer. Funds will be used for ongoing working capital associated with its planned Trackimo acquisition. In October last year, Helium said it will buy Vestigo Technologies Ltd, which owns and distributes tracking software product, Trackimo, and its associated hard business and intellectual property. Helium Ventures adds that a decision has been reached to start trading on London’s AIM market, instead of the standard segment of the London Stock Exchange, as previously planned. The main reason is to retrieve tax relief known as EIS-VCT relief.
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Lift Global Ventures PLC - Financial media and energy sector focused investor - Notes that investee Miriad Ltd, a public relations and investor relations company, has been appointed by diagnostics products and services provider Imperial Diagnostix Laboratories Ltd as its corporate communications agency. Imperial Diagnostix is planning an initial public offering in 2024, for which Miriad will be responsible for the distribution of all necessary documentation for potential investors. Lift Global Chief Executive Officer Zak Mir says: ‘We are delighted to welcome Imperial Diagnostix at such a key point in their journey towards IPO. IDL appreciate that in challenging markets, it is during the time of the fund raise when corporate communications and strategy are most important. Miriad looks forward to welcoming many other companies at similar stages in their development.’
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Marula Mining PLC - Africa-focused mining and development company - Reports delay to shipment of initial 27.5 tonne high-grade material processed from the historic stockpiles at Blesberg lithium and tantalum mine in South Africa, destined for Huangpu in China. Confirms termination of an offtake agreement with Southern Jade Resources Pty Ltd for the first 2,000 tonnes of spodumene material produced from the stockpiles at Blesberg. Further, Marula says it proceeds to finalise new long-term agreement for the sale and purchase of spodumene and lithium products produced at Blesberg with new global trading groups in Europe.
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Pelatro PLC - marketing software provider - Shares will be deleted from trading on AIM next week Friday, after Pelatro in August announced plans to delist. It had cited costs, management time required, and regulatory burden of maintaining a listing. Back then it said its Bangalore-based finance function remained unaffected.
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Poolbeg Pharma PLC - London-based infectious disease focused biopharmaceutical company - Receives notice of allowance from Japanese Patent Office regarding its Immunomodulator I patent application. The claims deem that it is allowable to cover a p38 mitogen-activated protein kinase inhibitor for use in the treatment of severe influenza in humans. Poolbeg says the claims ‘strengthens the company’s robust intellectual property in the territory. Grant of the application as a patent is expected upon completion of formalities.’ Further, Poolbeg files patent applications to expand its intellectual property around POLB001 and the use of p38 MAP kinase inhibitors in new disease areas such as oncology. POLB001 selectively inhibits overwhelming inflammation in viral infections such as influenza. CEO Jeremy Skillington says: ‘This milestone is a testament to the uniqueness of p38 MAPK inhibition as a potential blockbuster treatment for severe influenza. We are committed to continuing to strengthen the intellectual property protection of our portfolio of assets into new jurisdictions to increase their overall value to potential partners.’
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