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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Conygar Investment Co PLC - London-based property investor and developer - Announces issue of 15.0 million zero dividend preference shares to raise £15 million through a placing and parent subscription. The shares will be issued at 100 pence per share, for a term of 5 years. They have a final capital entitlement of 153.86p per share, equivalent to a gross redemption yield of 9.0%. Expects to use the net proceeds from the issue of the ZDP shares to continue developing The Island Quarter site in Nottingham City Centre.
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Technology Minerals PLC - London-based battery metals mining and recycling firm - Says that its 48%-owned battery recycling business, Recyclus Group Ltd, has successfully completed the commissioning phase at the UK’s first industrial scale lithium-ion battery recycling facility in Wolverhampton, West Midlands. As part of completing the commissioning phase, Recyclus installed bulk liquid nitrogen tanks and the company has also received the first fill of liquid nitrogen, which facilitates continuous processing at the plant. It is now focussing on ramping up lithium ion battery processing through the plant to achieve a run rate of 8,300 tonnes per year based on a single shift, and has a permit to expand this to process up to 22,000 tonnes per year.
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Angus Energy PLC - UK-focused oil and gas development company - Says 12.5% shareholder, Kemexon Ltd, has agreed to convert its £3 million Junior Bridge Facility, together with interest and fees, into equity in the Company at a price of 0.66 pence per share. Kemexon has also committed to a one year lock-up of those shares. Notes continuing progress on global refinancing of the remaining Senior Facility (£6.3 million as at October 1) and Junior Facility (£6 million) expected to close by year end. The maturity date of the £6 million Junior Facility has been extended to January 19, 2024, according to its terms.
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RIT Capital Partners PLC - RIT Capital is managed by J Rothschild Capital Management Ltd, and aims for long-term capital growth while preserving shareholders’ capital - Says that Maxim Parr has retired as a non-executive director of RIT. Following his retirement, Parr will take on the position of chair at J. Rothschild Capital Management Ltd, thereby bringing additional resources and further enhancing the expertise of the senior leadership team. With effect from Parr’s retirement, Cecilia McAnulty, an independent non-executive director, has been appointed chair of the Valuation Committee.
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Gowin New Energy Group Ltd - China-based LED lighting products and tea trading - Enters loan agreement with Chief Executive Officer Chen Chih-Lung, pursuant to which Chen has made available a loan of £15,000 to the company. Under the terms of the loan agreement, the interest rate is 2% per annum, and the loan is repayable in twelve months, extendable by mutual consent. Gowin says that the purpose of the loan is to provide short term liquidity to allow the company to satisfy its payment obligations. Chen will continue to support the company’s working capital requirements as and when required.
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Scirocco Energy PLC - Investing company targeting assets within the European sustainable energy and circular economy markets - Says that although ‘significant progress’ has been made on the Ruvuma transaction, Scirocco and ARA Petroleum Tanzania have executed amendments to extend the longstop date of the proposed transaction from September 30 to October 20. As announced on August 3, Scirocco has received the tax clearance certificate and settled its assessed tax liability. It then wrote to the Tanzanian Minister for Energy to obtain the final approval, which it says it expects in due course. On receipt of this approval, all conditions precedent to the transaction will be satisfied and Scirocco and its counterparty APT will be able to proceed to complete the transaction.
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