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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Genedrive PLC - Manchester, England-based molecular diagnostics company - Notes opening of the NICE Early Value Assessment evidence generation funding call, supported by the National Institute for Health and Care Research. The programme works in collaboration with the Office for Life Sciences and the National Institute for Health and Care Excellence and is backed by £10 million of government funding. The programme is aimed at addressing evidence gaps to accelerate widespread adoption of technologies, that have been recommended for use in the NHS through the NICE EVA framework. Genedrive confirms that it is in the process of submitting an application for funding to address the NICE EVA evidence generation recommendations of the Genedrive MT-RNR1 ID kit, which are required for progressing the NICE conditional recommendation into a full recommendation.
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Oracle Power PLC - international developer of energy projects focused on Pakistan and Australia - Announces the start of the Environmental & Social Impact Assessment for the renewable power plant on its project land site in Jhimpir, in Pakistan. Oracle appoints SGS Pakistan, a inspection, verification, testing, and certification company, to conduct the study. Explains the ESIA will cover a comprehensive study for 1.3 gigawatt of renewable power encompassing a 800 megawatt solar project, a 500MW wind project, and a 450MWh battery energy storage system. Chief Executive Naheed Memon says the ESIA, ‘marks a very important milestone in the development pathway of our green energy project’.
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abrdn European Logistics Income PLC - investment fund focusing on European logistics real estate - Reports the company has received a number of broad ranging preliminary, indicative non-binding proposals. Sees this as encouraging although there can be no certainty that any proposal will prove to be sufficiently attractive to merit a recommendation. Continues to actively engage with a select number of parties to satisfy their due diligence requirements. Decides to forgo declaring a fourth interim dividend at this stage to ensure that the company is optimally positioned. Subject to the outcome of the strategic review, the board intends to recommence dividend payments in line with the standard dividend timetable.
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Trident Royalties PLC - mining royalty and streaming-focused company, providing investment exposure to base, battery, precious and bulk metals - Provides update on Sonoroy Holdings Ltd, its 50% held joint venture. Explains that the JV agreed to a 3.0% gross revenue royalty over the Sonora Lithium Project in Mexico from the estate of Colin Orr-Ewing. Trident says the the long-stop date to complete the deal has been extended to December 31 2026. Trident also agrees that the repayment date for its loan to Sonoroy is extended until the earlier of December 31 2026, or completion of the transaction. Notes the royalty is the subject of litigation between the estate and Bacanora. Trident says it may terminate the JV if the litigation is finally resolved in favour of Bacanora, or if it is unresolved by the long-stop date.
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Tekcapital PLC - London-based intellectual property investor - Provided update on portfolio company, Guident Ltd. Highlights strategic partnerships signed with Adastec Corp, AuVe Tech OU and Space Florida & Novelsat. Notes Guident is making ‘significant strides’ in expanding its sales pipeline, marked by a recent transition from a direct sales model to a value-added reseller approach. This strategic shift has accelerated sales traction through collaborations with our global partners, Tekcapital says.
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Sorted Group Holdings PLC - Cheltenham, England-based location data verification company, previously called Location Sciences Group PLC. Completes acquisition of Sorted Holdings Ltd. Confirms shares admitted to AIM and trading under the name of Sorted Group Holdings PLC.
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Sylvania Platinum Ltd - platinum group metals producer and developer with assets in South Africa - Announces the updated mineral resource estimates for its Volspruit project located on the northern limb of the Bushveld complex in South Africa. For Volspruit North, reports MRE indicated 16.4 million tonnes at a 4E (4E includes platinum, palladium and gold) grade of 2.52 grams per tonne; 21.9 million pounds of copper at a grade of 0.07%; and 61.5 million pounds of nickel at a grade of 0.18%. Sylvania notes the MRE represents a 10% increase in the indicated tonnage from the previously reported MRE in October 2022. For Volspruit South, the MRE inferred 10.60 Mt at 4E grade of 2.11 grams per tonne; 14.83 million pounds of copper at a grade of 0.06%; and 46.96 million pounds of nickel at a grade of 0.20%. Based on the results of the scoping study and metallurgical test work that is expected during the fourth quarter, expects a decision will be made on progressing the project to a pre-feasibility study phase during 2025.
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Coro Energy PLC - South East Asian energy company - Announces settlement of the working capital adjustment from the disposal of the group’s Italian natural gas portfolio. Explains company will get €1 million cash, in full and final settlement of the working capital adjustment. A payment of €200,000 will be made within five business days and the balance of €800,000 will be paid in 22 monthly instalments. Coro says it will also receive the previously announced €136,000 balance of the upfront consideration, in 23 monthly instalments. Furthermore it says that Stephen Birrell and Naheed Menon, both non-executive directors, have agreed to step down.
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Powerhouse Energy Group PLC - Bingley, England-based non-recyclable waste-to-energy conversion firm - Reports excellent progress continues to be made on the technology centre and now head office, located in Bridgend, Wales, with all general building work completed. Targets the fourth quarter for the installation of an alternative kiln after a previous supplier fell into administration. Continues to defend the patent claim brought by Onunda Ltd and remains confident in its position. ‘Extremely optimistic for 2024’, company says.
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Mobile Streams PLC - London-based mobile content provider - Announces the appointment of Farzad Peyman as the first member of an advisory committee being set up to assist the company expand into online casino and sports book services. Peyman was previously chief executive and chief finance officer of Matchbook Betting Exchange and group financial controller at Sportingbet PLC. Further, announces the expansion of the contract between IgniteAMT Ltd and Mobile Streams’ subsidiary Krunchdata Ltd. Agreement covers the provision of office space as well as creative, technical and office support. Company notes that Chief Executive Officer Mark Epstein holds a 33% interest in Ignite.
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