The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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JPMorgan US Smaller Cos Investment Trust PLC - invests in US smaller companies - Net asset value per share at December 31 year end totals 438.6p, rise of 4.0% from 421.7p 12 months earlier. Full-year dividend is lifted 20% to 3.0p per share from 2.5p. It adds: ‘We are encouraged by the outlook for the US small cap universe and the wider US economy. Inflation is receding and whilst growth in 2024 is expected to be muted, there are indications that there will be a soft landing for the US economy.’
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Burford Capital Ltd - litigation finance provider - Announces share buyback programme worth up to £5.0 million, which will be financed through existing cash resources.
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Molten Ventures PLC - London-based venture capital firm - Notes Vivup and Perkbox will receive investment from growth equity firm Great Hill Partners, which will mean Molten Ventures exits its investment in Perkbox. Molten adds: ‘The award-winning global benefits and reward platform has been a portfolio company since Molten first invested in 2016, and currently sits just outside the Core Portfolio in the reporting. The deal values Perkbox modestly above its group holding value.’
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Asia Dragon Trust PLC - investor focused on Asian equity markets - Receives increased commitment from revolving credit facility lender Royal Bank of Scotland International Ltd to £50 million from £35 million. Says investment manager draws down equivalent of additional £15 million, after spotting ‘suitable investment opportunities’.
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Alternative Income REIT PLC - investor in commercial property assets - Appoints Martley Capital Real Estate Investment Management Ltd as investment adviser after completion of final regulatory approvals.
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Powerhouse Energy Group PLC - Bingley, England-based non-recyclable waste-to-energy conversion firm - Engsolve subsidiary selected for building and installation of first production train for TrimTabs. TrimTabs is a process technology company focused on sustainable production of carbon nanotubes. Powerhouse adds: ‘The new production unit will support the commercialisation of TrimTabs production system, allowing for continuous production of low-cost, highly differentiated carbon nanotubes close to commercial scale. Engsolve’s involvement in the development of this cutting-edge technology will aid TrimTabs in their pursuit for the production of sustainable carbon nanotubes.’
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Quadrise PLC - London-based residual oil technology company - Declares no revenue in six months to December 31, unchanged from prior year. Pretax loss largely unmoved at £1.7 million. Quadrise says: ‘The company’s strategy is to generate demand amongst the shipping industry and other sectors and to stimulate supply of its fuels around global marine bunkering hubs. During the period, progress has been made in each of the company’s projects, which are designed to fulfil this strategy.’ In addition, announces plan for placing and subscription to raise £1.5 million at 1.25 pence per share. Plans to raise further £1.0 million in open offer ‘in recognition of the continuing support from long-term shareholders’. Says proceeds to offer it ‘necessary working capital resources’ to end of March next year. By that point, ‘projects in Morocco and Utah are expected to be generating commercial revenues’.
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