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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Forbes Ventures - Stockport, England-based investment company - Says it has experienced continued delays in listing and closing the £40 million two-year notes before the end of 2021. It also intends to re-domicile to the UK from the Cayman Islands where it is currently registered. Forbes Ventures says this will remove a significant cost and administrative burden from the company.
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Next Fifteen Communications Group PLC - London-based business growth consultant - Confirms that it is in discussion with London-based marketing company Engine UK and its owners for a potential acquisition. Next Fifteen adds that there is no certainty an acquisition of Engine UK will take place.
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Hargreaves Services PLC - Durham, England-based land, property and infrastructure development company - Announces that it has exchanged conditional contracts with Aver Property Ltd Partnership for the development and sale of two large distribution units. The company says that on completion the two contracts will generate revenue in excess of £50 million. The contracts will be a 50/50 joint venture between Hargreaves Services and Waystone Hargreaves Land LLP. The company also exchanges another conditional contract for the sale of 4.6 acres to Ogilvie Homes.
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Agronomics Ltd - Isle of Man, UK-based cellular agriculture company - Acquires 1.1 million shares in California-based protein producer Geltor Inc for a total consideration of $9.5 million. This represents a 2% stake in the cosmetic industry-focused company. Co-founder Jim Mellon says: ‘Agronomics is thrilled to be broadening its portfolio to include Geltor, recognised as a leading precision fermentation company and one of the first companies in the sector to utilise this technology for the development of agricultural products without the need for animals.’
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Savannah Energy PLC - London-based energy company focused on Africa - Says its Accugas subsidiary has signed a new gas sales agreement with gas distributor Central Horizon Gas Co. Central Horizon is a subsidiary of Lagos-based gas distributor and developer Axxela Ltd. Central Horizon operates a 17 kilometre gas pipeline infrastructure network with a throughput capacity of 50 million standard cubic feet of gas per day. Under the agreement, Central Horizon can be nominated to deliver up to 5 million standard cubic feet of gas per day. The agreement is for an initial one-year period but is extendable by mutual agreement. First gas deliveries are expected to commence within the next 12 months, Savannah adds.
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88 Energy Ltd - Western Australia-based oil exploration company focused on Alaska - Acquires a 73% net non-operated working interest in the leases and wells in established onshore production assets within the Permian Basin of Texas, US. Lonestar I LLC will retain a 24% net working interest in the assets, and through an affiliate will remain the operator. The purchase price for the acquisition is $9.7 million, comprising $7.2 million in cash and $2.5 million in 88 Energy shares, approximately 98.1 million shares at an issue price of A$0.035 per share. 88 Energy says the acquisition delivers immediate cash flows, with current gross production from the project of approximately 300 barrels of oil equivalent per day.
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Venture Life Group PLC - Berkshire, England-based self-care product manufacturer and distributor - Announces that a clinical trial led by Cardiff University indicate that a mouthwash containing its antimicrobial agent Cetylpyridinium Chloridecan technology can inactivate Covid-19 in the mouth for up to 1 hour. The clinical study was part-funded by Venture Life but the company says it had no input in the design, data analysis or drafting of the research paper.
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Oriole Resources PLC - London-based gold exploration company focused in Cameroon and Senegal - Receives notice from joint-venture partner IAMGOLD Corp confirming that it has exercised the first option in option agreement and has subsequently acquired a 51% interest in the Senala gold project in Senegal. This comes as a result of IAMGOLD reaching the $4 million expenditure threshold within the first four years of the agreement. IAMGOLD has the option to earn a 70% interest in the project.
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Emmerson PLC - London-based potash developer focused in Morocco - Appoints Jim Wynn as its chief financial officer with immediate effect. Wynn had previously been CFO at London-based, Zambia-focused mining company Moxico Resources PLC as well as at Guernsey, UK-based earth metals producer Rainbow Rare Earths Ltd. He also serves of the board of London-based exploration company GreenRoc Mining PLC.
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Nightcap PLC - London-based- Announces a number of additional planned bar openings in 2022. The latest opening is for The Cocktail Club brand and will be located in Exeter. The bar will be licenced until 2am and will have a capacity of 200 people. Another bar in Cardiff is expected to open in April. Nightcap says it has a further 24 premises under offer or in legal negotiations and continues to see favourable market conditions for site acquisitions across the country. The company adds that it expects to publish its interim results on March 14.
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Kanabo Group PLC - Tel Aviv-based medical cannabis company - Acquires GP Service Ltd, a UK-based private telemedicine provider, for a total consideration of £13.5 million. Pursuant to a sale and purchase agreement, Kanabo will issue 106.7 million shares at a price of 12.65 pence, representing 22% of the company. The company also announces it has raised £2.3 million via a placing of 28.1 million shares at a price of 8p per share. The placing was completed by the company’s broker Peterhouse Capital Ltd.
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Premier African Minerals Ltd - British Virgin Islands-based metals and minerals project developer - Reports bore hole ZDD035R at its Zulu Lithium & Tantalum Project has intersected 21.1 metres from 37.1 metres at an average grade of 1.2% lithium oxide and 920 rubidium parts per million. Bore hole ZDD036 intersects 20.72 metres from 21.66 metres at an average grade of 1.4% lithium oxide and 4,318 rubidium parts per million.
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Panther Securities PLC - London-based property investment company - Signs a new £800,000 per year lease for the majority of the Bentalls Complex in Essex, England. The property is let on a full repairing and insuring lease for a period of five years. The Bentalls Complex comprises a 200,000 square feet high bay industrial building standing on a 9-acre site.
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IG Design Group PLC - Bedfordshire, England-based consumer gift packaging company - Announces that Chief Executive Paul Fineman will be stepping down from March 1 due to personal reasons after 17 years with the company. The company adds that it has commenced its search for Fineman’s successor. Director Lance Burn will take on the role of interim chief operating officer. IG Design adds that it is in the final stages of appointing its new chief financial officer.
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Fusion Antibodies PLC - Belfast-based research organisation focused on antibody development - Says that Chief Executive Richard Jones has resigned resigned in order to ‘pursue other opportunities’. Jones will remain at the company while arrangements are put in place for his successor. The company says it has begun the search for its new CEO.
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