The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Quadrise PLC - London-based residual oil technology company - Signs project development agreement with renewable biofuels specialists, BTG Bioliquids BV and Euthenia Energy Group Ltd. In June, Quadrise and BTG entered a joint development agreement. ‘Building on this success, Quadrise and BTL have signed the PDA with Euthenia, an industrial group that is focused on developing, financing, and operating renewable energy projects and transition solutions for a low carbon economy. Euthenia have active projects and operations in Europe, North America and the Caribbean,’ it says. Under the PDA, a programme of lab and pilot testing, followed by diesel engine testing, is planned leading to a third-party commercial marine vessel trial.
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Tortilla Mexican Grill PLC - London-based fast-casual restaurant chain - Confirms Uber Eats and Just Eat as its delivery partners, following a review of the brand’s delivery strategy, which was announced in December. Says it delivered more than 1.5 million mains across Uber Eats, Just Eat and Deliveroo in 2023, whilst maintaining an average of 4.6-star customer app rating. Adds that ‘recent review is part of a series of wider ongoing management initiatives as the group remains focussed on its strategic objective to drive Ebitda margin and profitability.’ Andy Naylor, UK managing director at Tortilla, says: ‘We’re delighted to extend our relationships with Uber Eats and Just Eat. We are confident that these strategic partnerships will play a key role in supporting sustainable, profitable growth across the important delivery channel, underpinning our growing presence as the UK’s leading fast-casual Mexican brand.’
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Ferro-Alloy Resources Ltd - Kazakhstan vanadium, molybdenum and nickel producer - Notes sale of all bonds issued under the $5 millon third tranche of the Kazakhstan exempt offer bond programme. The three tranches of bonds issued and listed under the programme to date have been sold, in total for $13 million.
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Orosur Mining Inc - South America-focused minerals explorer and developer - Raises £500,000 through placing of 16.9 million shares priced at 2.95 pence each. It will use the proceeds to undertake specific exploration activities. CEO Brad George says: ‘We are pleased with the positive response to our placing. Whilst we continue negotiations on the Anza project, which remains the core asset, we will be deploying funds on our exploration projects where we expect relatively early results and news-flow over the coming weeks and months’.
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Nexxen International Ltd - New York-based advertising technology company, formerly known as Tremor International Ltd - Enhances TV intelligence solution with premium streaming data through exclusive agreement with PeerLogix Inc. ‘The integration of PeerLogix’s data into our TV Intelligence solution enhances our capacity to deliver unparalleled value to our clients through real-time, premium insights,’ said Jessica La Rosa, vice president of TV Partnerships & Strategy at Nexxen. ‘We’re thrilled to be expanding our already holistic and representative dataset with cutting edge streaming viewership data, allowing brands and advertisers to elevate the effectiveness of their campaigns in the fast-evolving CTV landscape.’
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Biome Technologies PLC - Southampton, England-based bioplastics and radio frequency technology company - Says its RF Technologies division has been awarded a contract with a revenue value of £490,000 to supply a second novel induction furnace system to an unnamed ‘global manufacturer of scientific glass products.’ Says the system will utilise key elements of the RF Technologies division’s induction furnace technology. Completion of the system is scheduled in the 2024 financial year. However, specific revenue timing and revenue recognition under IFRS-15 will depend on the availability of key components that will be identified during the design phase. CEO Paul Mines says: ‘This further contract win is an important achievement for our RF Technologies division and the second significant contract in this sub-sector of the scientific glass industry. This order results from the division’s ongoing strategy of diversification and is one of several opportunities where negotiations have advanced significantly since the start of the year. We remain confident in bringing other opportunities to a similar conclusion in the relatively short-term.’
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CPPGroup PLC - Leeds, England-based technology-driven assistance and insurance provider - Completes the disposal of its minority interest in KYND Ltd to V Acquisition Ltd, part of the Verisk Analytics Inc, for £2.6 million. Says the investment in KYND is non-core to the company following the announcement of its revised strategy and change management programme. KYND is ‘a business which provides cyber risk management solutions.’ CPP bought a 20% stake in KYND for £1.2 million in 2018. Its shareholding fell to 13% in 2021, when it decided not to participate in a capital raise. CEO Simon Pyper says: ‘The agreement we have reached with Verisk is consistent with our stated strategy and is another positive step as we simplify the group and transform to an InsurTech business.’
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