The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Nexxen International Ltd - Tel Aviv-based advertising technology company - Says it is seeking authorisation to undertake a buyback program of up to $50 million worth of ordinary shares. According to newly adopted Israeli regulations, Nexxen must await the expiration of a creditor objection period before the new program can commence. The scheme is also subject to receipt of consent from the company’s bank lenders.
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GreenX Metals Ltd - Greenland-focused minerals exploration company - Delivers a pretax loss of A$2.0 million in the six months to December 31, widened from A$1.4 million a year prior. Revenue was A$252,221 in the period, up from A$161,385. Loss per share rose to 0.73 cents from 0.55 cents. The company is still in the process of suing the Republic of Poland for damages, relating to profits lost in relation to its Jan Karski and Debienski project, which were blocked by the government.
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Maven Income and Growth VCT 3 PLC - London-based venture capital trust - Says net asset value total return was 150.05p per share at the end of 2023, down from 152.49p a year prior. NAV at year-end was 52.48p per share, down from 57.32p. Maven declares a final dividend of 2.15p per share, bringing its full-year dividend to 2.65p, down 16% from 3.15p in 2022. Chair Atul Devani says: ‘Although there has been a modest reduction in NAV total return, this largely reflects market dynamics where valuations across all sectors have rebased in response to the unsettled economic conditions. AIM has been particularly affected, as investors have exercised caution towards smaller listed growth companies which, in some instances, has resulted in further share price weakness’.
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Cornish Metals Inc - Vancouver-based mineral exploration company focused on the South Crofty tin project in Cornwall - Announces the departure of Chief Executive Officer Richard Williams, effective from March 31. Ken Armstrong, currently a non-executive director, will take up the role of interim CEO as the company searches for a permanent executive officer. Chair Patrick Anderson will also become Executive Chair of the company during the transition period. The company notes that Armstrong served as CEO of Strongbow Exploration, the company’s predecessor, until 2015.
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JPEL Private Equity Ltd - Guernsey-based investment company - Reports a net loss of $1.9 million in the six months to December 31, swung from $754,000 in income a year prior. This was attributable to a negative $2.7 million impact of net changes in fair value of financial assets and financial liabilities. NAV per share was $1.50 at December 31, down from $1.63 at June 30. As at December 31, the company had $32.4 million in net assets, decreased from $41.3 million at June 30.
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Network International Holdings PLC - Dubai-based payment solutions provider for the Middle East and Africa - Says the long stop date for its acquisition by BCP VI Neptune Bidco Holdings Ltd, an entity owned by Brookfield Business Partners LP, to become effective has been extended to October 9 from April 9. The scheme has received the requisite approval from shareholders.
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