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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International Biotechnology Trust PLC - London-based biotechnology and healthcare sector-focused alternative investment fund, managed by SV Health Managers LLP - Says that with effect from Monday, Schroder Unit Trusts Ltd has been appointed as the company’s fund manager and alternative investment fund manager. Ailsa Craig and Marek Poszepczynski have joined Schroder Investment Management Ltd from SV Health Partners LLP, but will continue as the company’s portfolio managers. Further, International Biotechnology’s depositary agreement with Northern Trust Company has been terminated, and the its new depositary will be HSBC Bank PLC.
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Origin Enterprises PLC - Dublin-based agronomy services firm - Starts share buyback programme to repurchase up to €20 million of its ordinary shares. The buyback will start on November 21, and will run up to July 29, 2024.
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Technology Minerals PLC - London-based battery metals and recycling firm - Notes progress from subsidiary, Recyclus Group Ltd, which operates an industrial-scale lithium-ion battery recycling plant in Wolverhampton. Says the plant has accumulated 100 tonnes of feedstock, the maximum allowed under the Environmental Agency permit. Also notes a significant rise in recycling production, reaching up to 45% net black mass yield. Technology Minerals says that it remains well-positioned to support ongoing operations with convertible loan facilities for additional working capital as needed. Adds that Recyclus has access to £525,000 under a £1 million loan facility from a company shareholder.
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Neometals Ltd - Sustainable battery materials producer - Says the board has determined to withdraw resolution 4, which was referred to in the notice of its AGM, scheduled for November 24. The resolution called for approval of an increase to the maximum aggregate remuneration of Neometals’ non-executive directors. Says the decision was taken by the board following ‘sentiment evident’ in preliminary proxy voting returns. Explains the resolution was designed to better enable the company’s future board succession planning arrangements, and its withdrawal is not anticipated to have any material impact. The validity of proxy forms provided in connection with the AGM and all proxies already submitted by shareholders in respect of the other proposed resolutions at the AGM remain unaffected by the withdrawal.
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