The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Directa Plus PLC - London-based producer and supplier of graphene products for use in industrial markets - In 2023, pretax loss narrows to €4.3 million from €5.3 million. Revenue fell 3.0% to €10.5 million from €10.9 million. Other expenses declined 16% to €3.7 million from €4.4 million. Chief Executive Officer Giulio Cesareo says: ‘[The company benefitted] from improved margins driven by the growing value of our technology, successful investment in innovation, and a reduction in direct costs. We also secured our largest contract to date’.
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Lexington Gold Ltd - South Africa and US-focused gold exploration and development company - In 2023, pretax loss narrows to $61,000 from $924,000. No revenue generated. Operating expenses rose 8.8% to $770,000 from $708,000. Cash and cash equivalents held multiplied to $2.6 million from $424,000. Total assets increase to $18.2 million from $5.1 million. Post-period end, further development progress made across operations, with testing highlighting the potential of various projects.
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Great Southern Copper PLC - Chile-focused copper, gold, and lithium explorer - £1.3 million raised through a placing and subscription of 104.4 million shares at price of £0.012 each. Proceeds will be used to fund exploration and drilling work at the Especularita project, as well as for general working capital and administrative costs.
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Costain Group PLC - Maidenhead, England-based infrastructure solutions company - Wins contract for £65 million water supply resilience and infrastructure upgrade programme along with joint venture partner MWH Treatment Ltd. Contract awarded by Southern Water Services Ltd and will run until late 2025.
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EDX Medical Group PLC - Cambridge, England-based developer of digital diagnostics products and medical services - Signs exclusive distribution agreement to market the cResponse cancer assay in UK, Sweden, Finland, Norway, and Denmark for Curesponse Ltd.
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Plant Health Care PLC - North Carolina, US-based provider of propriety biological products for agriculture - Agrees to terms of an acquisition by PI Industries Ltd. PHC shareholders to receive 9.0 pence in cash per share held. Acquisition valued at £32.8 million, a 57% premium from closing price of 5.7p on June 25.
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Zephyr Energy PLC - Rocky Mountain region-focused oil & gas company - 36-2R well production test have commenced with the well in its clean-up phase. Operations are proceeding at a conservative pace and the period of clean-up is longer than originally forecast. Production test is expected to commence shortly after clean-up and related operations have been completed. Company further announced a successful redetermination process by lender First International Bank & Trust, reaffirming an existing $15.2 million credit facility. Additional $5.6 million loan secured with interest rate of 10% per annum. Proceeds from new loan, along with $400,000 cash, to repay remaining $6 million of bridge loan. Following this, total borrowings at $29.4 million.
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Aterian PLC - London-based critical metal exploration and development company - Receives notices to convert remaining £500,000 of outstanding convertible loan notes issued on May 3. Additionally, following requests from three suppliers seeking an increased shareholding in Aterian, the company has agreed to convert £42,197 of creditor balances. The company will therefore convert an aggregate of £542,197 at 70 pence per share in exchange for the issue of 774,566 new ordinary shares of 10p each.
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