The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Intuitive Investments Group PLC - Manchester-based life sciences and technology investor - Investee firm Hui10 Inc secures landmark agreement with the General Administration of Sport of China. The partnership lets Hui10 to support Team China at prestigious events, with it gaining the exclusive rights to promote the team and its merchandise through its network of lottery shops and HongBao Sports Lottery. Deal grants Hui10’s Lucky World the rights to launch and operate 31 flagship Team China Sports Lottery branded stores retailings its range of official branded products. Also enables HongBao Sports Lottery with each purchase of Team China merchandise. Chair Nigel Rudd says: ‘The Team China contract highlights the importance of the lottery shops in China and the role of the lottery in supporting China’s sporting excellence. Hui10 sits at the centre of the development of both the lottery shops, through its Lucky World platform, and the Chinese Lottery through its digitisation strategy to expand lottery participation.’
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Powerhouse Energy Group PLC - Bingley, England-based non-recyclable waste-to-energy conversion company - Agrees to partner with London-based Avioxx Ltd to integrate its technology for its pilot scale facility to produce 200 tonnes per year of sustainable aviation fuel. Says Avioxx has developed a patented process to produce SAF from non-recylable wastes. Collaboration sees both companies investigate the potential of PHE providing two 2.5 tonne per day gasification trains to supply raw syngas to feed the facility. These units are based upon Powerhouse’s feedstock testing unit at its technical centre and will be sold to Avioxx. Adds there is the potential for a service agreement going forward between the two firms. Powerhouse Chief Executive Paul Emmitt says: ‘This is a highly significant development for the company as it further shows the potential of our technology and its adaptability to be able to service a wide number of industries. SAF has huge potential for us and is a sector that undoubtedly can benefit from using our technology to provide cleaner fuels for the aviation industry.’
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Enteq Technologies PLC - London-based developer of technologies for measurement, logging and geo-steering - Concludes following review by the board of the strategic options available to explore the sale of the company and is commencing a formal sale process. Says it recently initiated a private sale process ahead of the formal sale process where it contacted a limited number of counterparties to assess the possibility of potential proposals to provide value to shareholders. Company is currently in discussions with two parties and notes it is not in receipt of an approach from any potential offerer. Adds that cash balances total around $950,000 with no debt burden. Continues to progress near-term opportunities such as advancing the commencement of active test drilling operations in Australia and customer opportunities for its Saber tool. Board invites expressions of interest from parties for a potential transaction and remains positive that a solvent solution can be found.
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GSTechnologies Ltd - Perth, Australia-based fintech company - Conditionally raises £500,000 through retail offer, issuing 26.3 million shares at 1.90 pence per share. Notes that the retail offering was significantly oversubscribed as its original target of £250,000, with the firm deciding to accommodate the extra demand by expanding the size of the offer. Adds that it has also conducted a separate placing to raise gross proceeds of £2.0 million. Notes that the retail offer does not form part of the placing.
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