The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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PCI-PAL PLC - Suffolk, England-based global cloud provider of secure payment solutions for business communications - Signs new reseller partnership with Zoom Video Communications Inc. Picked as launch partner for Zoom’s independent software vendor exchange programme. ‘The new partnership, which follows an extensive evaluation process, will see PCI Pal’s award-winning secure payment solutions become available in H2 across Zoom’s unified communications (Zoom Phone) and contact centre (Zoom Contact Centre) portfolio. The partnership will not only provide a light-touch pathway for Zoom customers to achieve PCI compliance but also empowers seamless payment experiences across Zoom’s communications platforms,’ PCI-PAL says.
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Biome Technologies PLC - Southampton, England-based bioplastics and radio frequency technology company - Revenue in nine months to end of September up 20% to £5.2 million from £4.3 million a year prior. Biome adds: ‘The results are in line with management expectations. Performance in 2023 Q3 reflects lower revenue recognition in the RF Technologies division, offset by an increase in revenues from the Bioplastics division where, year-to-date, we are seeing a strong improvement in trading.’ Biome notes that finalisation of discussions for two of the RF division’s projects taking longer than expected. Biome cautions: ‘As a result, and given the proximity to the year-end, there is an increasing risk that these delays will impact on the level of adjusted loss before interest, tax and amortisation and cash receipts in the 2023 financial year. Whilst this is not the position the board would have wished for, it remains confident that these two projects will be delivered, albeit now in the 2024 financial year.’
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Seed Innovations Ltd - investment firm focusing on early-stage health, wellness and medical cannabis companies - Investee Little Green Pharma Ltd plans to demerge its psilocybin and psychedelic business and assets. Measure will include in-specie distribution of shares in LGP’s wholly-owned subsidiary, Reset. LGP will distribute around 10.0 million Reset shares to shareholders. Every 30 shares in LGP owned will give shareholders one Reset share. Seed owns 7.3 million LGP shares, a 2.4% stake in the firm.
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Agronomics Ltd - investor in the cellular agriculture field - Says portfolio company Good Dog Food Ltd has rebranded and will trade as Meatly ahead of UK product launch. ‘Since its launch in 2022, Meatly’s team of leading scientists has been working to produce ethical and sustainable cultivated meat for pets without compromising on essential nutritional benefits. The team makes real meat, without animals,’ Agronomics says.
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Loungers PLC - Bristol-based operator of Lounge, Cosy Club and Brightside cafes and bars - Says ‘roll-out plan remains firmly on track’, with new sites opened in past two months. Says three new Lounge sites are Alfredo Lounge in Lincolnshire, Bordo Lounge in Carlisle and Muro Lounge in Hexham. A fourth new site is a Cosy Club unit in Oxford. Chief Executive Nick Collins says: ‘Our accelerated site roll-out plan remains firmly on track, and we’re delighted with the four new sites that we’ve opened in the last few weeks. It’s particularly pleasing to be increasing our presence in the North through the openings in Carlisle and Hexham, and we see significant potential for more sites in both the North West and the North East.’
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Harworth Group PLC - land regenerator - Secures planning approval from Leeds City Council to develop 800,000 square feet of industrial and logistics space at its Skelton Grange site. It was formerly the location of the Skelton Grange Power Station, and Harworth acquired it in 2014. The approved plans will see the development of the space across five units, each between 126,000 and 202,000 square feet in size. ‘Skelton Grange demonstrates Harworth’s unique skillset in identifying and acquiring complex brownfield sites, devising a masterplan that realises their potential and then progressing this through the planning system to unlock value,’ says Chief Executive Lynda Shillaw.
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Oberon Investments Group PLC - investment management, wealth planning and corporate broking group - Says eligible for stock to be traded on Apex segment of the Aquis Stock Exchange. ‘The Apex segment caters for larger, more established businesses, and enforces stricter eligibility criteria to encourage greater liquidity and transparency,’ Oberon adds.
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Avingtrans PLC - Cambridgeshire, England-based designer, manufacturer and supplier of critical products and services to the energy, medical and industrial sectors - US-based unit Hayward Tyler Inc wins contract from TerraPower for design and development of Primary and Intermediate Sodium Pumps for Natrium reactor demonstration project. Avingtrans says: ‘This is a multi-phased award over a period of three to four years, beginning in November 2023 and commencing at approximately $10 million.’ It adds: ‘The Natrium reactor demonstration project is located in Wyoming, in the western United States, and is being developed near a retiring coal plant. Upon completion, the Natrium plant will be a fully functioning commercial power plant.’
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Cordel Group PLC - London-based provider of artificial intelligence work for transport corridor analytics - Says 345 authorised users across UK’s Network Rail, as well as third-party suppliers, ‘benefitting’ from Cordel’s offering. Cordel won a deal with Network Rail in December 2021. Network Rail owns, operates and maintains the UK’s railway. Cordel says: ‘More than 345 authorised users across NR and third-party suppliers are benefiting from Cordel’s additional post-processing that enables more consistent positioning of lineside structures, enhanced quality assurance and shortened feedback loops to support NR decision-makers to improve the integrity of the national gauging dataset. Going forward, the modern IT architecture of Cordel’s railway gauging data solution unlocks potential to speed up data processing and provide further valuable alignment, with data that can be relied on.’
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Empire Metals Ltd - London-based minerals explorer and developer - Says three planned diamond core drillholes have now been completed at the Pitfield project in Western Australia. Titanium mineralisation ‘identified throughout the entire length of each of the three drillholes’, Empire says. It adds: ‘The company expects to have drill core geochemical analysis results available shortly and will be able to release more information about key parameters such as mineralogy, grades, and geological controls in the coming weeks.’
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Wishbone Gold PLC - Australia-focused mining company - Sees ‘encouraging mineralised results’ from first hole at Cottesloe project in Western Australia. Wishbone adds: ‘Assays will be completed after the drill program is complete and should take 6-8 weeks. The company expects results to be available in January 2024.’
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Rockfire Resources PLC - Australia and Greece-focused base metal, gold, and critical mineral exploration company - Terminates transaction to acquire Emirates Gold DMCC and Emperesse Bullion LLC from Paloma Precious DMCC. This is due to the UK imposing sanctions on Paloma. Rockfire adds: ‘Following the sanctions, Rockfire immediately sought legal advice from the company’s lawyers. The conclusion of these discussions is that Rockfire is unable to complete the transaction without breaching the sanction and therefore the company has formally withdrawn from the agreement and will no longer be pursuing the acquisition of Emirates and Emperesse.’ It has a 10% stake in Emirates Gold and Emperesse and is reviewing its options for that holding. Rockfire announced the deal to acquire 100% of Emirates Gold and 99% of Emperesse from Paloma in September, paying an initial $2 million in cash. The final consideration will be $18 million, it said. Shares in the company have resumed trading on AIM, having been suspended in the wake of announcing the deal. Rockfire adds: ‘During the suspension, Rockfire has been actively drilling its 100%-owned high-grade Molaoi zinc deposit and assay results from this drilling will be released to the market on receipt of those results from the laboratory. Management will also continue its review of various advanced exploration projects throughout the world to consider these for acquisition. This acquisition strategy has been adopted by Rockfire for many years and management will continue to implement this strategy.’
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Corcel PLC - mining and mineral resource development company operating in Angola, Brazil and Australia - Receives notice from operator of KON-11 block in Angola that Tobias 14 well has now spudded. Corcel has a 20% working interest, 18% net, in asset. The project is operated by Sonangol, ‘the largest national hydrocarbon producer in Angola’.
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XPS Pensions Group PLC - Reading, England-based pensions consulting and administration firm - Picked to provide administration services for the John Lewis Partnership Pensions Trust. Notes scheme covers ‘nearly one hundred and sixty-five thousand members’.
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