The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Synthomer PLC - Essex, England-based chemicals manufacturer - Updates on trading to October 31. Says trading has been broadly consistent with expectations. The key trends set out at the half year results have continued, with subdued volumes and limited visibility given the challenging macro conditions throughout the chemicals industry. Points out speciality businesses have continued to deliver significantly more resilient pricing and volumes relative to base chemical products, which are subject to increased global competition and greater negative operating leverage. Does not anticipate any improvement in customer demand for the remainder of 2023, with a risk of modest further slowdown in activity in certain base chemicals areas if market trends seen in the third quarter persist. Still expects to make sequential progress in the second half of 2023 relative to the first, driven principally by previously announced self-help measures.
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Bradda Head Lithium Ltd - North America-focused lithium development company - Files a technical report on SEDARplus for the updated mineral resource estimate at the Basin East asset in Arizona. Adds 729 kt of lithium carbonate equivalent to the inferred mineral resource, for an updated total inferred LCE content of 1.0 million tonnes. Following this, receives the next milestone of $2.5 million under the royalty agreement. Highlights increased confidence in achieving the next milestone of 2.5Mt of LCE, that enables Bradda Head to receive a further $3.0 million payment.
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Anheuser-Busch InBev SA/NV - Leuven, Belgium-based brewer - Reports results from tender offers. Says tendered €208.7 million of €1.00 billion 1.65% notes due 2031. Tenders £103.6 million of £336.8 million 2.25% notes due 2029. Tenders €73.3 million of €750.0 million 2.00% notes due 2035. Tenders £163.2 million of £411.3 million 2.85% notes due 2037. Tenders €325.3 million of €1.00 billion 2.7% notes due 2026.
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Nanoco Group PLC - Runcorn, England-based developer and manufacturer of cadmium-free quantum dots and other nanomaterials - Announces it has fulfilled its first-ever commercial production order, having completed shipments of two different first-generation materials for use in infra-red sensing applications in electronic devices. Says the announcement is in line with expectations and supports the financial year 2024 revenue guidance given in October. Brian Tenner, chief executive says: ‘Today’s announcement records a critical milestone in Nanoco’s evolution from an R&D first mover to an electronics materials production company.’
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Agriterra Ltd - company focused on investment and sustainable development in Southern Africa - Concludes unsecured $1.7 million term loan with Magister Investments Ltd, its majority shareholder, which will enable the group to replace the around $1.3 million higher cost external finance from Standard Bank SA. This will facilitate the purchase in Mozambique by the company’s wholly-owned subsidiary, Desenvolvemento E Comercializacao Agricola, of various capital equipment which will be used to drive growth of the company’s biscuit plant operations through accessing new revenue streams and provide it with $150,000 of ‘head office’ working capital.
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Cloudbreak Discovery PLC - Vancouver, Canada-based natural resource project generator - Says outstanding liability of £907,710 to the Cronin Parties in relation to outstanding management charges is being purchased and assigned to investors. Explains the investors have agreed to pay the Cronin Parties £136,156.50 in consideration for the assignment. Further, says Galleon buys certain assets from Cloudbreak for £102,000. Galleon has agreed with the Cronin Parties that it will transfer these assets to Cronin plus an additional £207,000 in cash.
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Insig AI PLC - London-based data science and machine learning firm - Announces the disposal of its legacy subsidiaries, Sport in Schools Ltd and The Elms Group Ltd for £500,000. Funds will be used for general working purposes. Further, enters agreement to provide a scalable and automated solution to a US and European-based provider of collateralised loan obligations. Explains work is for an initial sum of £60,000 to commence immediately, with the opportunity for further follow-on projects. The commitment of work also involves integrating Insig AI’s data analytics software into the launch of a potential new fund, which could provide longer-term recurring revenue streams for the company.
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RHI Magnesita NV - Vienna-based supplier of refractory products - Ignite Luxembourg Holdings Sarl’s bid for 29.9% of firm receives all necessary approvals.
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Fintech Asia Ltd - investment firm established to acquire Asian financial services companies -
Obtains unsecured committed facility of up to £1 million via a convertible loan note instrument dated November 14. Explains the series B convertible loan is on similar terms to the unsecured committed facility announced on September 8. Explains the loan is intended to bridge the company’s general working capital requirements as the board seeks to finalise due diligence and documentation in respect of its proposed acquisition of InvesCore Financial Group Pte Ltd.
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