The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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CLS Holdings PLC - London-based commercial property investment company - EPRA net tangible assets per share at June 30 half-year end fall 10% to 227.4 pence from 253.0p at end of December. Net asset value per share weakens 9.9% to 210.6p from 233.8p. Net rental income grows 5.9% on-year to £58.9 million in first half, from £55.6 million. Pretax loss narrows to £65.7 million from £106.4 million. Posts £82.8 million hit from net revaluation movements on investment property, but this narrows from £132.9 million a year prior. CLS maintains dividend per share at 2.60p. In addition, it announces Medecins Sans Frontieres, also known as Doctors Without Borders, exchanges an agreement for 10-year lease at Artesian, 9 Prescot Street in London. CLS Chief Executive Officer Fredrik Widlund says: ‘We are pleased to announce that Medecins Sans Frontieres (UK) has signed an agreement for Lease for the fifth floor of the Artesian. CLS has worked hard to sensitively refurbish the space to retain many of the building’s Art Deco features, whilst ensuring that it offers high quality, modern and sustainable working spaces and amenities within. The property is located in the Aldgate and Whitechapel area, which is a vibrant area which has undergone a lot of development recently. Conversations with other potential tenants continue, and we are hopeful to secure more leases in the months ahead.’
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SIMEC Atlantis Energy Ltd - focused on creating new sustainable energy projects - Takes sole ownership of 120 megawatt battery energy storage system at the Uskmouth Sustainable Energy Park. ‘According to the company’s latest estimates, the BESS project will generate average annual revenues of £12 million and annual average Ebitda of £9 million per annum in its first five full years of operation. The estimated capital cost of the project is £65 million, which includes the deferred consideration and transaction costs,’ SIMEC says. SIMEC pays Enso Green Holdings Ltd an initial £299,000 to acquire 100% of development vehicle, Enso Green Holdings E Ltd. ‘SAE will pay EGHL an additional amount of £3.85 million as a deferred consideration, in recognition of their contribution to the project development to date,’ SIMEC adds.
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Oriole Resources PLC - West Africa-focused mineral exploration company - Says recent mapping extends mineralised strike length of Lawa West prospect within Bibemi gold project in Cameroon. Oriole owns just over 82% of Bibemi. ‘The total confirmed mineralised trend at Bibemi now stands at 17 km,’ it adds.
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Tertiary Minerals PLC - mineral development company focused on deposits in the US, Zambia and Northern Europe - Subsidiary Copernicus signs deal with First Quantum Minerals Ltd for Mukai copper project in Zambia. Copernicus is 90%-owned by Tertiary Minerals (Zambia) Ltd, which is in turn 96%-owned by London-listed Tertiary. Deal grants First Quantum an initial exploration due diligence period of two years. During this period, First Quantum is committed to funding a minimum of $1.5 million of exploration expenditure. ‘First Quantum may then enter into an earn-in and joint venture agreements,’ Tertiary adds. These agreements can see First Quantum earn an initial 51% stake in Mukai, and then a further 29% over a new two-year period by completing a mining study and delivering a ‘notice of intent to mine within a third 24-month period’. In July, Tertiary had said it completed a soil sampling programme at its Mupala copper project, also in Zambia. Executive Chair Patrick Cheetham said results confirmed the ‘prospectivity of the licence’.
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First Tin PLC - tin development projects in Germany and Australia - Says results from testwork at Taronga tin project in Australia ‘encouraging and confirm the readily treatable and upgrading nature of the Taronga mineralisation’. ‘Recoveries of over 75% tin from a higher-grade sample to a high-quality concentrate from the simple, coarse gravity tin circuit are much better than the recoveries used in the recently announced definitive feasibility study. Potential for even higher recoveries can also be seen with slight modifications to the current process plant design. It is proposed to collect more samples to repeat this work and confirm these excellent recoveries,’ CEO Bill Scotting says.
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Maintel Holdings PLC - London-based cloud and managed communications service provider - Revenue in six months to June 30 down 1.8% on-year to £46.6 million from £47.5 million. Earnings before interest, tax, depreciation and amortisation, however, rise 28% to £4.8 million from £3.7 million. ‘The revenue performance, although slightly down on the previous year, represents underlying growth, as the first half of FY 2023 was flattered by the unwinding of the order book built up through previous years that had been impacted by the global semiconductor shortage,’ the firm says. ‘The company remains focused on delivering higher margin new business opportunities in its high growth segments moving forward and meeting expectations for the current financial year.’
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Sanderson Design Group PLC - London-based interior design and furnishings - Says trading shows ‘signs of improvement’ in July, after tough May and June amid poor trading conditions in UK. July brand product sales rise 6% at constant currency on-year. ‘As a result, total brand product sales in the six-month period to 31 July 2024 were down 7% in constant currency, an improvement compared with being down 9% at the time of the June trading update and driven by North America. The company continues to trade in line with the board’s expectations for the current financial year, as revised at the time of the June trading update,’ Sanderson Design adds. Total revenue in first half down 11% on-year to £50.5 million, from £56.7 million.
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