The following is a round-up of updates by London-listed companies, issued this week and not separately reported by Alliance News:
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Grit Real Estate Income Group - Pan-African property investment and management company based in Mauritius - EPRA net reinstatement value at December 31 half-year end totals 68.1 cents per share, down 6.4% from 72.8 cents at end of June. Cuts dividend by 25% to 1.50 cents per share from 2.00 cents. Appoints Gareth Schnehage as chief financial officer, replacing Leon van de Moortele who has been on medical leave since December 19.
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Volta Finance Ltd - Guernsey-incorporated investment company - Agrees on alteration of fee structure with investment manager AXA Investment Managers Paris. New pact lowers ‘threshold of the tiered management fee and enhancing the annual performance fee structure’. AXA IMP is to receive an amount equal to 1.5% per year of the lower of either its net asset value and €236 million. The prior management fee threshold was €300 million. In addition, if the NAV tops €236 million, the manager will earn an amount equal to 1.0% per year of the amount the NAV exceeds €236 million.
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Crown Place VCT PLC - venture capital trust - Net asset value at December 31 half-year end amounts to 31.03 pence, down from 33.13p on June 30. It adds: ‘Our two hydro renewable energy assets, Chonais River Hydro and Gharagain River Hydro saw their valuations decrease by £1.1 million and £300,000 respectively after a reduction in the forecast annual energy generation based on historic production. The challenging economic environment and the general decline in comparable market prices across the technology sector has resulted in the valuations of some of the technology and healthcare companies in the portfolio falling.’
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AltynGold PLC - Sekisovskoye gold mine in Kazakhstan - Says 2023 volume of mined ore increases 33% to 701,465 tonnes. ‘As mentioned in prior updates, volume of processed ore was affected by the ongoing plant expansion. Full-year volume of milled ore increased 1.1% while poured gold declined 2.7%. The processing plant upgrade is now expected to be completed in 3Q24,’ AltynGold adds. Full-year total revenue increases 2.7% to $63.7 million ‘on higher average gold price in 2023’.
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BWA Group PLC - company which has mineral exploration licences in Cameroon and Canada - Says completes preliminary reconnaissance drilling on time and budget at Dehane 2 licence in Cameroon. Non-Executive Chair James Butterfield says: ‘BWA are even more encouraged by the presence of heavy mineral sands that have been observed within the medium and courser grained horizons within the drill core. BWA look forward to receiving the analysis and defining a more comprehensive and systematic drilling programme in the near future.’
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