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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Savannah Energy PLC - energy company focused on projects in Africa - Says planned buy of Petronas oil and gas business in South Sudan terminated, despite ‘substantial efforts of all parties since that time’. ‘Petronas has announced today that it has served notice to unilaterally withdraw from its interests in the relevant exploration & production sharing agreements,’ Savannah Energy adds. However, Savannah Energy says it is still in ‘active discussions with the relevant parties around an alternative potential transaction’. This transaction would still count as a reverse takeover, so shares to remain suspended.
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Vaalco Energy Inc - Canada and Africa-focused hydrocarbon explorer - Revenue in second-quarter of year climbs 6.9% on-year to $116.8 million from $109.2 million. Net income jumps to $28.2 million from $6.8 million.
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Arc Minerals Ltd - exploration firm targetting copper assets - Says joint-venture with Anglo American begins drilling in Zambia. ‘I am delighted to report the start of a major drilling campaign in Zambia following extensive geological work over our tenements. Together with an exciting drilling programme in Botswana I look forward to an active period of news flow over the next few months,’ executive chair Nick von Schirnding says.
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Botswana Diamonds PLC - African-focused explorer and project developer - Raises £250,000 through a placing of 78.1 million shares priced at 0.32p each. Botswana says the funds raised will be used to fund exploration activities during the current year in Botswana and South Africa, which remain ongoing, and to provide additional working capital.
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Greencoat Renewables PLC - focused on wind farms and renewable energy assets across Europe - Acquires 50% stake in South Meath Solar Farm in County Meath, Ireland. Stake acquired from Statkraft. ‘The transaction has been completed in partnership with funds managed by the Investment Manager, Schroders Greencoat LLP, who have acquired the remaining 50% stake,’ Greencoat says. ‘A leading technology company has entered into a long-term PPA relating to 100% of the production of the solar farm, providing Greencoat Renewables with secure, long term cashflow. The agreement underpins the critical role that renewables have to play in powering the global acceleration of the technology sector.’
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Seed Innovations Ltd - investor focused on early-stage health, wellness and medical cannabis firms - Invests £250,000 in AIM-listed Pantheon Resources PLC, taking ‘advantage of its limited opportunistic short-term trading strategy’. Says backing formed part of Pantheon’s $29 million fundraise. Pantheon is an oil and gas company, which is focused on developing the Ahpun and Kodiak onshore oil fields in Alaska. ‘Seed’s investment paid from cash reserves, leaving approximately £3.5 million in remaining cash reserves,’ Seed Innovations says.
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Braveheart Investment Group PLC - Dodworth, England-based investment company - Buys 5.5 million shares in portfolio firm Image Scan Holdings PLC, at 1.74 pence each, £95,550 in total. It now owns 8.5% of the AIM listing.
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Cordiant Digital Infrastructure Ltd - investor in data centres, telecommunications towers, and fibre networks in the UK, Europe and North America - Announces refinancing of senior credit facilities at its portfolio company, Ceske Radiokomunikace. It secures Kč5.0 billion in financing, around £167 million, maturing in August 2030. Facilities include a Kč3.9 billion term loan and undrawn revolving credit facilities of Kč1.1 billion. The financing is with a syndicate of major banks. ‘Following the recent successful completion of CORD’s long-term refinancing, we are delighted with the support and recognition CRA has received through this debt raise from leading international and local banks. CRA is a national champion in the Czech Republic with a strong management team and is continuing to perform well,’ Cordiant Chair Steven Marshall says.
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Property Franchise Group PLC - Grantham, England-based property franchise and financial services company - Revenue in first half of 2024 doubles to £26.9 million from £13.2 million a year prior. ‘The last six months has seen the commencement of another transformational period for the Group following to the merger with the Belvoir Group PLC and the acquisition of GPEA Limited, owner of The Guild of Property Professionals and Fine & Country. Group revenue more than doubled compared to the prior period with significant increases in franchising and financial services, along with the addition of a new licensing revenue stream,’ it adds. On like-for-like basis, revenue increases 3%.
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IntelliAM AI PLC - Sheffield-based software company - Reports ‘significant extension to an existing agreement’ with a customer in the beverage alcohol space. ‘Growing the existing relationship from a few sites, under the terms of the extended agreement, IntelliAM will provide its cutting-edge industrial asset management services across more than 35 maltings sites in the UK,’ firm adds. Deal is worth £100,000 per year over next two years.
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TruFin PLC - London-based holding company of three growth-focused technology businesses operating in early payment provision, invoice finance, and mobile games publishing - Says video game publishing arm Playstack’s Balatro title achieves two million sales worldwide. ‘Continuing its momentum as Playstack’s fastest-selling game to date, the news comes less than six months since Balatro’s launch in February, when the poker-inspired game reached one million sales in its first month. Playstack will continue cultivating interest and excitement around Balatro with a major new gameplay update in 2025 and beyond,’ TruFin says.
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