The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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EDX Medical Group PLC - Cambridge, England-based company that develops digital diagnostic products and services for the treatment of cancer, heart disease, and infectious diseases - Reports a pretax loss of £3.7 million in the year ended March 31. Revenue in the year totals £3,864. Company provides no comparison year. Says it is preparing the ground for ‘significant’ business growth over the next three years. ‘We have invested sensibly into a number of very attractive new product areas that all have attractive future markets. As the company focuses on crystalising the many commercial opportunities into forthcoming revenues, this should trigger investor and shareholder responsiveness that matches the series of announcements that we are currently finalising,’ comments Chair Jason Holt.
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Canadian Overseas Petroleum Ltd - oil and gas exploration, production and development company focused on the US state of Wyoming - Amends its senior credit facility, providing a waiver of its covenant tests as of September 30. Waiver is conditional on the closing of the company’s financing, which has been extended by agreement with Avavio Capital Partners LLP to Friday. Company on track to close financing prior to Friday.
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Brandshield Systems PLC - Herzliya, Israel-based provider of cybersecurity solutions - Announces that Ravit Freedman has left the company with immediate effect. Freedman was chief financial officer and a director of the company. Company begins process to appoint a successor.
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Tintra PLC - London-based DeepTech bank that uses artificial intelligence to help people in emerging markets transfer money - Reports a pretax loss of £2.9 million in the year ended January 31, widened from a loss of £954,000 the year prior. Records no revenue, compared to £351,000 the year prior. Total administrative expenses jump to £2.6 million from £1.4 million. ‘The board of directors are delighted with the significant progress that has been made in the group’s transformation during the period. The legacy issues of the past are behind us,’ the company says.
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Stranger Holdings PLC - London-based investment company focused on making targeted acquisitions through which it can implement an operational strategy that will build value - Confirms that the UK Financial Conduct Authority has approved its prospectus regarding the proposed acquisition of up to a 70% interest in the Henkries uranium deposit and a prospecting right in South Africa. The proposed acquisition will see Stranger become the indirect owner of 50.1% of Desert Star Trading 130 Proprietary Ltd. Desert Star is the owner of a uranium prospecting right NC30/5/1/1/2/11918 in the Northern Cape of South Africa, commonly known as the Henkries project. The company will also acquire this indirect ownership via the acquisition of two intermediary holding companies, Mayflower Energy Metals Ltd and Neo Uranium Africa Proprietary Ltd. Mayflower owns 100% of the share capital of Neo Uranium Africa, and Neo Uranium Africa owns 50.1% of the share capital of Desert Star and an earn in option to increase ownership to 70%.
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Amte Power PLC - Oxford, England-based developer and manufacturer of lithium-ion and sodium-ion battery cells - Raises proceeds of £100,000 following the closing of a retail offer announced earlier in the day. Application has been made for the retail offer shares to be admitted to trading on AIM. Admission expected to take place tomorrow. 5.4 million shares will be issued at a price of 1.7 pence.
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Barryroe Offshore Energy PLC - company with a controlling interest in a oil and gas discovery in offshore West Cork, Ireland - Says that its examiner has secured a commitment for investment by Lorsden Ltd, the parent company of Vevan Unlimited Co which is the company’s largest shareholder. Lorsden agrees to make €1.1 million available to the company and also advances a loan of €300,000 to enable Barryroe to fully explore its restructuring options. Investor also commits to make €5.0 million available upon agreement of an appropriate business plan. These proposals will be put to creditors and are subject to confirmed by the UK High Court. Company also announced that Colin Chrisitie has stepped down as chief financial officer.
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Genel Energy PLC - Kurdistan, Iraq-focused oil producer - Announces a reverse tender offer to holders of Genel Enegy 4 Finance PLC’s $300 million senior unsecured callable bonds. Company intends to select a maximum price and buy bonds offered at and below this maximum price. Company is targeting around $20 million in nominal value. Buyback offer begins on Monday and will expire next Wednesday.
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Naked Wines PLC - Norwich, England-based wine retailer - Notes 24% of shareholders at its annual general meeting held on September 29 voted against resolution 8, the disapplication of pre-emption rights. Notes all resolutions were passed, however.
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Tap Global Group PLC - cryptocurrency app - Announces its intention to launch in the US, via its wholly-owned subsidiary Tap Americas, through a partnership with Zero Hash LLC, a Chicago-based cypto infrastructure platform. Says that it has built a ‘significant’ waiting list in the US and is now able to provide customers with access to 24 digital assets. Adds the partnership with Zero Hash will also enable Tap to launch a fiat-to-crypto on-and-off-ramp later in 2023.
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