The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Asimilar Group PLC - capital market company - Notes an announcement made by Dev Clever Holdings PLC regarding its decision to submit a request to the Financial Conduct Authority for the cancellation of the listing of its ordinary shares. It holds a 8.5% stake in Dev Clever’s issued share capital.
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Dev Clever Holdings PLC - software developer for immersive learning and career guidance - Plans to submit a request to cancel its shares, as it thinks that it is unlikely that it will attract the necessary material investment from investors to execute its growth strategy ‘in these current market conditions.’ ‘The board is of the view that, right now, the considerable cost, management time and the legal and regulatory obligations associated with maintaining a listing are materially disproportionate to the benefits to the company. It also believes there is currently reduced investment ’appetite’ for smaller UK listed companies and pre-profit technology companies generally and particularly those where significant capital for growth is required and that it would be easier to access private market finance,’ the company states.
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APQ Global Ltd - Guernsey-based emerging markets investor - Unaudited book value per Ordinary Share as at November 30 stands at 11.68 US cents.
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SkinBioTherapeutics PLC- Skin health-focused life sciences company - Raises gross proceeds of £2.5 million through the placing of 15.6 million new ordinary shares at a placing price of 16 pence. The price represents a 7.2 % to the closing middle market price of 17.25 pence per Ordinary Share on Wednesday. The placing shares will represent 10% of the company’s issued ordinary share capital prior to the placing.
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Tintra PLC - Windsor, Berkshire-based firm building banking and infrastructure technology systems - Completes the placement to institutional investor Fintech Leaders Fund LLC for $10.0 million. Plan to use the proceeds to fund the continuing development of the company’s artificial intelligence platform and regulatory licensing build, as well as for general working capital purposes. ‘This support from Fintech Leaders Fund is another validation of the strength of our mission especially with a team that shares our vision of revolutionising how emerging markets directly benefit from financial inclusion. Not least by their alignment of thinking on the importance of robust ESG goals supported by the work of The Tintra Foundation and of Tintra plc as we drive financial inclusion into emerging markets,’ CEO Richard Shearer says.
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Kodal Minerals PLC - mineral exploration and development company focused on lithium and gold assets in West Africa - Says it is progressing with plant engineering and environmental studies required for the dense media separation at its Bougouni lithium project in southern Mali. Adds that it is finalising engineering and environmental work to support formal approval for the DMS option from the Mali government.
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NetScientific PLC - life sciences and sustainability technology investment firm - Reports that its portfolio company, PDS Biotechnology Corp completed its enrolment in the first stage of the checkpoint inhibitor refractory group of its Versatile-002 phase 2 study. ‘We are delighted with PDS Biotech’s continued progress in its clinical trials, including the Phase 2 trial for combined therapy with Merck’s Keytruda drug as detailed in their announcement. Congratulations to Frank and his team with their company’s continued advancements,’ CEO Ilian Iliev comments.
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Infrastructure India PLC - invests in infrastructure assets in India’s energy and transport sectors - Expects to report a net liability position for the year that ended March 31, 2022. This was based on agreed preliminary terms with a third party and the ascribed net minimum consideration for itss largest holding, Distribution Logistics Infrastructure, it explains. Says that the proposed transaction is structured in a deferred, performance-based, and contingent consideration.
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Sareum Holdings PLC - Cambridge, England-based biotechnology company focused on developing kinase inhibitors for autoimmune disease & cancer - Records ‘good progress’ in its financial year that ended June 30. Remains confident in its future despite some recent setbacks. Believes that it has a strong pipeline of kinase inhibitors with the potential to provide great benefit to patients. Says that it is committed to advancing SDC-1801 into clinical development and is focused on finding the quickest and clearest pathway to obtaining authorisation for clinical studies.
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Mast Energy Developments PLC - London-based developer of reserve power generations plants - Says that the remaining deferred consideration for Pyebridge site has been waived. Plans to pay £2.5 million for the Pyebridge site, after £400,000 of consideration waved. ‘We are very pleased with the settlement agreement negotiated that resulted in a direct cash saving to MED of c. £400k which is in fact an additional amount of cash available to the Company, and the positive effect thereof on the Site’s economics, profitability, and investment return. We look forward to providing the market with further updates in due course as we progress,’ CEO Pieter Krügel says.
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Chamberlin PLC - West Midlands-based castings and engineering company - Says that its Scunthorpe-based foundry Russell Ductile Casting recorded revenue exceeding £1 million for the first time in November. Adds that it has a ‘strong’ sales enquiry pipeline of around GBO17 million. Says that the investment in a new plant and equipment at Russell is now completed.
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Kavango Resources PLC - London-based mineral explorer focused on Botswana - Says that its drilling programme at the Kronos copper target zone was extended. Says that the drill programme will to continue to the Christmas break and restart in new year. Says that cores and rock chip samples are currently being logged and interpreted to assess ‘potential vectors’ indicating the proximity of a potential mineralising system.
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Beacon Energy PLC - Isle of Man, UK-based oil and gas company - Enters into conditional sale and purchase agreement with Tulip Oil and Deutsche Rohstoff for Rhein Petroleum GmbH. The sellers will receive new ordinary shares in Beacon Energy that will equal a 33%. Says that the transaction constitute a reverse takeover. Appoints interim CEO Larry Bottomley as permanent CEO, effective immediately.
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