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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Reabold Resources PLC - invests in ‘low-risk, near-term’ oil and gas projects - Updates on LNEnergy Ltd in which company holds a 26% interest. Notes LNEnergy reports that it has filed the Environmental Impact Study for the new small-scale liquefied natural gas development plan at the Colle Santo gas field with the Ministry of Environment & Energy Security. This is a further step towards achieving the granting of a production concession at Colle Santo.
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Life Settlement Assets PLC - London-based closed-ended investment company which manages portfolios of whole and fractional interests in life settlement policies issued by life insurance companies operating predominantly in the US - Receives notification of a maturity across three policies held by the company with a face value of $9 million. Explains the accounting for these maturities is in the process of being calculated and, if verified, would add around $6.3 million to the company’s assets equating to around 5.8% of the net asset value before costs. Will consider payment of a dividend with the proceeds.
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K3 Business Technology Group PLC - business-critical software solutions provider focusing on fashion and apparel brands - Updates on trading for the financial year ended November 30. Says adjusted operating profit for the year is expected to be at least in line with market expectations, and the group is expected to have closed the financial year-end with cash balances at £8.3 million, ahead of market expectations. These results are despite the ongoing lower demand and activity in global accounts, as previously reported.
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Poolbeg Pharma PLC - Clinical-stage biopharmaceutical company targeting diseases with a high unmet medical needs - Announces the positive outputs from the lab-based analysis and successful prioritisation of the respiratory syncytial virus drug targets and treatments identified as part of its artificial intelligence led programme. Actively exploring the most effective way to progress the prioritised drug candidates in order to generate value. Believes the data obtained reflects the high potential of this AI-led programme and supports its partnering efforts. Chief Executive Jeremy Skillington says: ‘As we engage in partnering discussions, these results position Poolbeg as a key player in the evolving landscape of AI-driven drug discovery.’
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RA International Group PLC - specialist provider of complex and integrated remote site services - Says High Court of England and Wales makes order confirming the reduction of the share premium account by an amount of $18.2 million. Notes the capital reduction was approved by shareholders at a General Meeting on November 22.
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Location Sciences Group PLC - London-based location data verification company - Expects to publish an AIM admission document in respect of the proposed acquisition of Sorted Holdings Ltd by the end of January 2024, following which will seek the restoration of trading of the company’s ordinary shares on AIM. Explains that a considerable amount of work has already been carried out and the company continues to diligently progress the transaction towards completion.
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Adriatic Metals PLC - precious and base metals explorer and developer that owns the Vares silver project in Bosnia & Herzegovina and the Raska zinc deposit in Serbia - Reports updated ore reserve estimate for the 100%-owned Rupice silver-zinc-lead-gold deposit in Bosnia and Herzegovina has grown to: 13.8 megatonnes at 187 grammes per tonne gold, 5.2% Zinc, 3.3% lead, 1.4 grammes per tonne silver, 0.5% copper and 0.2% antimony. The significant increase in ore reserves underpins an 18-year mine life which now extends until 2041 based on nominal throughput capacity of 800,000 tonnes per annum.
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Belluscura PLC - London-headquartered medical device developer - Receives approval from the National Medical Products Administration to distribute the X-PLOR portable oxygen concentrator in China. With this approval secured, Belluscura has now entered into negotiations with several distributors in China. Further, says results for the financial year 2023 are marginally below management expectations at the earnings before interest, tax, depreciation and amortisation level while prospects for 2024 remain unchanged.
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