Source - Alliance News

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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Ilika PLC - Romsey, England-based solid-state battery technology company - Plans to raise total £3.5 million via placing, subscription and retail offer at 33p per share. The 9.0 million placing shares represent around 5.4% of Ilika’s share capital. In addition, Ilika intends to offer 1.5 million shares to existing shareholders via a retail offer, while some directors intend to subscribe for stock. Proceeds will be used primarily to advance the commercial status of both of the company’s product lines, specifically supporting the commercial launch and ramp up of the small format Stereax technology, and the continued development of the large format Goliath technology.

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Kropz PLC - Africa-focused phosphate producer and developer - says Elandsfontein produced 77,318 tonnes of phosphate concentrate during the first quarter of 2025 and had sales of 88,554 tonnes of phosphate concentrate over the same period. This included a record production month of 33,000 tonnes of phosphate concentrate in January. However, notes the mine is still in its trial production phase and the company has encountered some challenges during its progression to full production. Elandsfontein produced 28,000 tonnes of phosphate concentrate during April with no sales in the month due to one sale being delayed due to the receiving vessel arriving at the port in early May. Addressing these challenges has led to increased expenditure of $6.7 million. In addition, agrees a $6.7 million loan with Arc Fund.

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Kefi Gold and Copper PLC - mining company with assets in Saudi Arabia and Ethiopia - Raises £7.6 million via placing and subscription at 0.55 pence each. The fundraise follows the recent announcement of Ethiopian Country Membership having been ratified in Parliament for both the company’s project finance banks and the subsequent request by both banks and the Government to now intensify preparations for the launch of the company’s Tulu Kapi gold project. Proceeds will be used to cover lender-related expenses and commitment fees, costs for securing fixed price components and scheduling, legal expenses and general working capital.

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Arbuthnot Banking Group PLC - London-based merchant bank - Issues trading update for four months to April 30 ahead of Wednesday’s annual general meeting. Says loan balances including leased assets at April 30 are £2.36 billion, little changed from £2.37 billion a year prior, as ‘cautious credit appetite’ was maintained. Deposits of £4.26 billion rose 17% from £3.65 billion a year ago. Funds under management and administration rose 20% to £2.25 billion from £1.87 billion.

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Science Group PLC - Cambridge, England-based science & technology consultancy - issues a trading update. Says it continues to perform well with revenue and profitability slightly ahead of the board’s plan for the first 4 months of the year, despite the global volatility during April. The resilient start through this period of uncertainty, provides a good foundation for the year, it adds. At April 30, says has gross cash is £20.9 million and net funds of £9.0 million. In addition, the revolving credit facility remains undrawn.

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STV Group PLC - Glasgow-based television broadcaster and content producer - refreshes strategy and sets out new long-term growth targets at capital markets event for analysts and investors. STV’s vision for 2030 is to be a globally recognised content powerhouse, and Scotland’s leading platform for audiences and advertisers. Broadcast & Digital combined into new Audience division, with Audience extending into audio with launch of new radio station. Targets for financial 2030 include: STV Studios to double revenue to £200 million at 10% operating margin; Audience division to grow revenue annually in line with GDP and operating margin of 17% to 20%; group operating profit of between £30 to £35 million. Thinks these strategic actions can be delivered within a capital allocation framework satisfied through continued strong cash generation and existing bank facilities, with net debt to earnings before interest, taxes, depreciation and amortisation maintained in a range of 1x to 1.5x. The recovery plans for the group’s defined benefit pension schemes end in October 2030, at which point incremental free cash flow of £10 million plus per annum becomes available, creating increased capital allocation optionality. Also provides financial 2026 targets. These are: to grow digital revenues to £30 million; generate Audience division margin of at least 15%; grow Studios revenues to £120 to £140 million at an operating margin of at least 8% with at least 25% of Studios revenues to come from international markets; delivery of £5 million per annum run rate cost savings. In addition STV confirms total advertising revenue in the first quarter of 2025 is in line with previous guidance. Says TAR for January to April was down 2% year on year.

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Carr’s Group PLC - agriculture products manufacturer - proposes a £70 million tender offer. Shareholders will vote on the proposal at a general meeting on June 18. Under the offer, it would buy 42.9 million shares at 163p each, a 16% premium to its closing price on Tuesday.

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