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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Begbies Traynor Group PLC - Manchester, England-based business recovery, financial advisory and property services consultancy - Reports trading in the third quarter to January 31 has ‘been consistent with our expectations’. Says both divisions trading in line with the outlook as stated at the time of half year results in December. Remains confident of delivering market expectations for the full year. Notes market range for revenue is £131.1 million to £135.2 million and adjusted pretax profit is £21.9 million to £22.5 million. Further, agrees net £25 million debt facility with HSBC. Explains existing facility, which this replaces, was due to expire in August 2025. Says facility runs for an initial three-year term to February 2027, with two one-year extension options, giving a potential maturity date of February 2029.
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Lexington Gold Ltd - gold exploration and development company focused on South Africa and the US - Updates on its 2023/24 drilling programme at the Bothaville project located in South Africa, which commenced in early December. Notes successful completion of the first two diamond drill holes and four associated deflections. Lexington says both drill holes and their deflections successfully intersected the targeted Kimberley formation, aligning with the programme’s objectives. Says preliminary visual inspection of the core revealed signs of mineralisation in both holes, indicating the potential presence of gold.
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Directa Plus PLC - London-based graphene product manufacturer - Agrees to buy further 49% stake in Setcar SA, the group’s environmental services subsidiary for €1.5 million. This takes Directa Plus’s holding to just under 100%. Says will pay €500,000 up front, from existing cash resources, with a further €1 million payable by Match 30. To preserve working capital position, confirms talks with Nant Capital LLC with a view to agreeing short-term, non-dilutive financing facilities.
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Cindrigo Holdings Ltd - Signs memorandum of understanding with Amtroy OU for the acquisition of a 50-year lease on a 110 megawatt waste to energy combined heat and power plant located in Kaipola, Finland. Acquisition meets Cindrigo’s goal to expand in the renewable energy sector. Pays €19.0 million, comprising €100,000 cash and €15 million in Cindrigo shares, priced at 110 pence each. Notes a deferred payment of €3.9 million is to be made upon commencement of commercial operations. This is planned for the fourth quarter, with initial revenue forecast of €15 million per year. Estimates the facility will need maintenance and repair work of up to €3 million per year.
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Probiotix Health PLC - Wakefield, England-based life sciences business developing probiotics to tackle cardiovascular disease and other lifestyle conditions - Enters partnership agreement with SymbioPharm, a German company pioneering in microbiome research and knowledge-based probiotics. Explain the agreement allows SymbioPharm to utilise ProBiotix’s CholBiome CH formulation to target and reduce cholesterol in their branded consumer products. Says the agreement covers sales in Germany, Austria and Switzerland, focusing on maximising market penetration through strategic pharmacy partnerships.
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Ananda Developments PLC - London-based pharmaceutical, which is developing cannabinoid-based medicines for chronic pain conditions - Reports loss for the quarter ended January 31 of £244,322. No revenue was declared and no comparisons given. Basic loss per share totalled 0.008 pence.
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Aquis Exchange PLC - London-based financial markets operator, including pan-European equities trading platform Aquis Markets and UK growth-company market Aquis Stock Exchange - Launches conditional order functionality on the Aquis UK and Aquis EU platforms. Says this allow members to post the same liquidity on multiple venues simultaneously without the risk of over-trading.
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Guild Esports PLC - London-based esports business - Signs top-ranked professional player, ’Charyy_’ to its professional Fortnite roster. Says Charyy_ has signed a 12-month contract with Guild. Points out Charyy_ has already won a total of over $58,100 in prize winnings from 26 tournaments in the past year.
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i3 Energy PLC - UK and Canada-focused oil and gas company - Issues fourth quarter and 2023 operational and financial update. Says fourth quarter production averaged 20,413 barrels of oil equivalent per day. Notes 2023 annual average production of 20,711 boepd, at the high end of the company’s guidance range of 20,000 to 21,000 boepd. Reports 2023 net operating income is around at $93 million, in line with guidance, with year-end 2023 net debt expected to be around $23 million. Notes a dividend of £3.1 million was declared and paid during the fourth quarter, with total dividends of £13.3 million declared and £15.3 million paid in 2023.
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Savannah Resources PLC - lithium development company focused on its Barroso project in northern Portugal - Completes the resource-related drilling in the first phase of its current two-phase drilling programme at the Barroso lithium project. Says the first set of assays showed excellent grades and continuity of mineralisation. Explains these results, along with those still to be received, will be used to finalise plans for the second phase of drilling and will be fed into new resource estimates for the orebodies as part of the project’s ongoing definitive feasibility study.
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United Oil & Gas PLC - Oil and gas company, focused on Egypt, the UK and Jamaica - Intends to raise up to £900,000 via a placing to institutional and other investors at a price of £0.0020 each and one warrant for every three placing shares subscribed for with an exercise price of £0.0028 per share. Notes the placing is being offered by way of an accelerated bookbuild, managed by Tennyson. Funds will be used to progress work in Jamaica and for administration costs.
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Octopus Renewables Infra Trust PLC - London-headquartered closed-ended investment company - Confirms it is participating in the section 110 review announced earlier Monday by Aquila European Renewables PLC. AERI says it is reviewing its broader options. This includes the consideration of a potential combination pursuant to section 110 of the insolvency act 1986. There can be no certainty that a transaction between ORIT and AERI will result from the process, company says.
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Premier African Minerals Ltd - Metal and mineral developer focused on Africa - Provides an update on plant operations at Zulu Lithium and Tantalum. Notes the plant has now run with primary ore feed and optimisation of the new components continues. Explains that over the coming days, plant operations are expected to stabilise as a range of minor issues are resolved by the plant operator and contractor. Chief Executive George Roach says: ‘Premier is both encouraged and simultaneously frustrated as much by the fact that the newly installed mill exceeds expectations and by a number of system and control issues that are interrupting operations right now’. Expects the plant to operate continuously before the end of February.
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