The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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MediaZest PLC - Surrey, England-based audiovisual solutions provider - Reports ‘long term project roll outs with existing customers’ continues into first-quarter of new year. In March, MediaZest had said that it saw ‘notable uptick in activity’ in final quarter ended September 30. Notes new projects confirmed with athleisure firm lululemon athletica Inc and pet care retailer Pets At Home Group PLC in UK. In addition, ‘further orders secured with a large global automotive client in Europe’. MediaZest adds: ‘Market demand and pitch opportunities from new potential clients across the three core sectors in which the company specialises (retail, automotive and corporate offices) have seen a notable rise in the first half of the current financial year, which bodes well for encouraging performance across FY24 as a whole.’
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Volta Finance Ltd - investment company focused on collateralized loan obligations - Net asset value total return in six months to January 31 improves to 11%, from 3.2% a year prior. Net asset value per share grows 6.8% to €6.89 from €6.45 at year-end ‘The first six months of Volta’s financial year have continued to yield surprises. Few would have predicted the seemingly unstoppable march of US equity markets, against a backdrop of economic stagnation in Europe and the tragic events in the Middle East,’ Chair Dagmar Kershaw says. Lifts half-year dividend by 6.0% to €0.2650 per share from €0.2500.
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New Century AIM VCT 2 PLC - venture capital trust which invests in AIM-listed companies - Net asset value per share at December 31 year-end declines 17% annually to 39.60 pence from 47.62p. Annual dividend maintained at 2.50p. New Century adds: ‘The fund has made nine further qualifying investments in the period and we are pleased with their operational progress. We made thirty-four sales (relating to eighteen companies) where we either exited or top-sliced a holding.’ It notes 2023 was a tricky year for AIM listings, particularly the smaller ones.
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JPMorgan Japan Small Cap Growth & Income PLC - investment company focused on Japanese small caps - Naohiro Ozawa, a portfolio manager, steps down with effect Monday. ‘Ms Miyako Urabe and Mr Xuming Tao will continue to manage the assets of the company and, as a result, there will be no changes to the company’s investment process and investment objective,’ JPMorgan Japan Small Cap says.
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Tap Global Group PLC - London-based firm which offers a regulated crypto app that helps bridge the gap between traditional finance and blockchain technology by providing banking and crypto settlement services - Revenue in six months to December 31 totals £1.3 million, up markedly from £40,000 a year prior. Pretax loss stretches to £995,475 from £298,992. Operating expenses jump to £1.9 million from £304,622. Chair David Hunter says: ‘Tap Group has made a strong start to 2024 and management are confident that we will deliver on our growth ambitions, including our near-term priorities of increasing both revenue and user numbers, while completing our important US launch.’
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Valereum PLC - focused on tokenised digital markets as an exchange and marketplace operator - Raises £300,000 from chair in advance of larger capital raise set to close in third-quarter. Issues 5.0 million new shares.
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Sondrel Holdings PLC - Reading, England-based semiconductor design services firm - Enters further £2 million secured 15% convertible loan agreement with private equity firm ROX Equity Partners Ltd. ROX is a ‘long term investor specialising in emerging technology companies’. The 15% interest accrues daily and is payable quarterly on the last day of March, June, September and December. Proceeds of loan to go towards ‘March and April 2024 payroll and immediate working capital requirements’.
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Symphony Environmental Technologies PLC - Hertfordshire-based biodegradable plastic technology developer - Raises £47,731 through retail offer of 1.2 million shares at 3.5 pence each. Chief Executive Officer Michael Laurier says: ‘I would like to thank those who invested for their support in Symphony. Due to the successful £1.4 million equity subscription, the matched issue price, being a 67% premium on the prevailing market price when we launched the PrimaryBid Offer, was always going to limit interest in the offer, and the amount raised. The board believes it was nevertheless the right thing to do and hope that it has attracted new interest in Symphony going forward.’
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DP Poland PLC - operator of Domino’s pizza stores and restaurants in Poland and Croatia - Raises £19.5 million in placing and subscription. It notes placing was 2.5 times oversubscribed. ‘Accordingly, the company has sought to protect the interests of existing shareholders by honoring their soft pre-emption rights,’ it says. Placing price was 9.92 pence. Notes £11.0 million of that sum stems from subscription from Domino’s Pizza Group PLC. In addition, it plans to raise £1.0 million from retail offer.
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Mining Minerals & Metals PLC - acquisition vehicle seeking assets in natural resources sector - Plans capital raise for funds to go towards proposed buy of Georgina Energy PLC, a company that holds natural gas, helium, and hydrogen assets in Australia. Non-Executive Chair Roy Pitchford says: ‘We’ve now reached an advanced phase on the transaction and will be looking to conclude the capital raise next month and then ultimately close the transaction and seek readmission to trading. We welcome Oak Securities to the team and look forward to their support on the forthcoming capital raise.’
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Zanaga Iron Ore Co Ltd - iron explorer focused on the Republic of Congo - Says review and re-costing phase of feasibility study for Zanaga has been completed and a ‘near-final’ report received from Chinese partner. Preparation for front end engineering and design phase underway. In addition, it says repayment date of loan agreement with Glencore PLC extended to end of July. Has repaid $700,000 during first-quarter, leaving outstanding balance, including interest, of $726,384.
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Savannah Energy PLC - energy company with projects in Niger and Nigeria - Shares remain suspended from AIM trading, and there is a cancellation data of May 17. Continues to advance work needed to seal acquisition of Petronas energy business in South Sudan.
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