The following is a round-up of trading updates for London-listed companies, issued on Monday, Tuesday and Wednesday, and not separately reported by Alliance News:
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Augmentum Fintech PLC - London-based investor focused on European private fintech companies - Announces £4 million investment into London-based insurtech company Artificial Labs. Augmentum led Artificial’s £8 million Series A+ financing round. Says Artificial provides underwriting technology for London’s insurance market. Series A+ round ‘will allow Artificial to accelerate their growth, to continue to buildout its product range and further consolidate its position as a leader in algorithmic underwriting software as the insurance market migrates towards digital solutions.’
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Custodian Property Income REIT PLC - London-based investor in smaller regional UK properties - Net asset value at December 31 was 93.3 pence per share, down 2.7% from 95.9p at September 30. Movement reflects payment of a 1.375p per share interim dividend during the third quarter to December 31. NAV total return for quarter is negative 1.3%. Company declares dividend of same value for the current quarter. Targets total payout of at least 5.5p per share for the year to March 31. Passing rent has increased to £43.4 million in the third quarter from £43.2 million in the second, ‘driven by continued occupier demand for space across all sectors in the company‘s portfolio’. Investment manager says consensus suggests next interest rate movement will be down with further cuts into next year, ‘subject of course to an improving geopolitical environment. This should be positive for real estate investors and occupiers.’
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Inteliqo Ltd - Edinburgh-based start-up providing distribution services to consumer technology brands - Announces commencement of trading on Monday afternoon on the OTCQB Venture Market in the US. Inteliqo expects this to ease cross-border trading for potential US investors, thereby enabling greater liquidity in its shares on London’s Aquis Stock Exchange. The move enables company to ‘access one of the world’s largest investment markets’ and reach ‘a broader pool of investors’, while incurring ‘minimal’ ongoing costs.
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Kenmare Resources PLC - producer of titanium minerals and zircon from Moma titanium minerals mine in north Mozambique - Receives commitments in respect of a new $200 million revolving credit facility. RCF is provided by Absa Bank Ltd, Nedbank Ltd, FirstRand Bank Ltd and Standard Bank Group. It has an interest rate of 4.85% plus secured overnight financing rate, and a committed five-year term. Kenmare says it ‘will provide...additional financial flexibility as a result of the extended maturity profile, revolving structure and increased quantum’. RCF replaces existing corporate debt facilities installed in 2019, removing the existing term loan’s amortising payments. Company expects signing, closing and initial drawdown in March.
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Pensana PLC - London-based rare earths explorer - Says major potential customer has approved product qualification specifications for Longonjo project’s proposed mixed rare earth carbonate or MREC product. Expects Longonjo to produce 20,000 tonnes of MREC from 2026 onwards, increasing to 40,000 tonnes from 2029 onwards following planned expansion. Says product quality approval follows extensive pilot plant test work in Perth, Western Australia. Chief Executive Officer Tim George says that ‘there is expected to be a shortage of high quality, clean product coming onto the market in the near future, and this puts us in a strong position when looking to secure off-take arrangements.’
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