Source - Alliance News

The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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Hutchmed China Ltd - Hong Kong-based biopharmaceutical company - Receives approval to market fruquintinib, an inhibitor of vascular endothelial growth factor receptors, in Macau. Drugs of this type are often used to treat cancer.

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UP Global Sourcing Holdings PLC - Oldham, Greater Manchester-based consumer brands owner - Petra brand receives first ‘substantial’ order from a German hypermarket retailer. ‘Petra, the group's recently acquired German kitchen electrical brand, is well recognised in the German market and enjoys a reputation for quality and design innovation,’ UP Global says. Deal is worth €1 million.

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JPMorgan Russian Securities PLC - Russia-focused investor - Says 49% of portfolio comprises of locally-listed stocks it is currently not allowed to trade in due to restrictions. Holds shares in Russian state-backed VTB Bank amounting to 1.9% of investor's portfolio. Company manager monitoring impact of sanctions and also waives management fee. Will not buyback shares during uncertain market conditions and says sanctions restrict ability to pay further dividends. ‘It remains the company's intention to resume quarterly dividend payments once circumstances permit,’ JPMorgan Russian says.

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Puma VCT 13 PLC - venture capital trust - Exercises over-allotment facility linked with £25 million fundraise. To raise further £5 million.

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Bango PLC - Cambridge-based mobile commerce company - Begins trading on OTC Markets Group's OTCQX Best Market. ‘Trading on OTCQX will further increase the visibility and accessibility of Bango to North American investors. OTCQX supports more transparent quotation and trading of Bango ordinary shares in US dollars during trading hours in the United States, allowing easier access for investors who prefer securities that trade domestically in US dollars,’ Bango adds.

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Omega Diagnostics Group PLC - Alva, Scotland-based medical diagnostics - Says total amount raised from fundraise is £5.5 million. It had planned to raise up to £7 million.

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DeepMatter Group PLC - Glasgow, Scotland-based digital chemistry data company - Signs collaboration deal with Standigm Inc, a workflow artificial intelligence drug discovery company, based in South Korea. ‘The first stage of the agreement is expected to generate revenues of £233,000. The group is now actively working towards broadening the scope of the agreement in the three-year term,’ DeepMatter says. ‘DeepMatter will provide access to its proprietary data and algorithms via its unique data and laboratory integration platform.’

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7digital Group PLC - London-based music licensing provider - Signs deal with existing B2B music streaming service customer worth at least €2.2 million over three-year period. ‘The company has been providing services to the customer since 2016, with contract renewals on an annual basis. This latest contract expands the relationship to a long-term agreement, providing greater visibility over revenue. The company also expects the value of the contract to increase as the fast-growing customer seeks to expand its brand into further territories, which would require further licence agreements with 7digital,’ 7digital says.

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Mobile Streams PLC - London-based mobile content provider - Says monthly revenue now exceeds $150,000. ‘In addition, the company has commenced the process of uploading its content, including Esports, to the Huawei App gallery and anticipates once successful these will be made available across the Huawei handset user base,’ Mobile Streams adds.

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Hardide PLC - Oxfordshire-based advanced surface coating technology developer - Delivers first production set of coated turbine blades for Ansaldo Energia Spa, a manufacturer of steam and gas turbines. ‘These blades are to be installed in advanced gas turbine engines with high operational flexibility that cut CO2 emissions and operational costs in a very demanding market. More orders for this application are expected to be placed during 2022,’ Hardide adds.

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Getech Group PLC - Leeds-based provider of geoscience data - Wins £1.2 million deals for its geoscience data and energy software products. ‘The contracts, which include annual and multi-year licences with new and existing customers, add to Getech's recurring revenue and orderbook,’ company says.

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Journeo PLC - Leicestershire-based transport information systems and technical services - Gets £2.1 million order from City of Edinburgh to upgrade real-time outdoor passenger display systems. ‘The purchase order includes the supply and support of over 400 optically bonded new displays as part of the second phase of a 5 year £4.8 million services and support contract,’ Journeo says.

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AFC Energy PLC - Cranleigh, England-based hydrogen power generation technologies provider - Says it and partner Acciona agree to deploy AFC's first hybrid fuel cell system in Spain.

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Phoenix Copper Ltd - British Virgin Islands-based base and precious metals production and exploration company - Under environmental, social and governance plans, Phoenix is to create the Konnex Community Advisory Team. This is to build ‘meaningful relationships’ in communities near Empire State mine in Idaho, US.

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Beowulf Mining PLC - developing Kallak iron ore mine in Sweden and Aitolampi graphite mine in Finland - Invests further £200,000 in Vardar Minerals Ltd. Increases stake to 51% from 49%. Also notes talks with Vardar's management for final plan for drilling, including at Wolf Mountain, which has lead and zinc targets. ‘Drilling could start in the next 1-2 months and Beowulf would provide the funding,’ Beowulf adds.

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Mila Resources PLC - London-based gold company focused on Australia - Second drill hole at Kathleen Valley, Australia hosts sulphides akin to adjacent Bellevue gold discoveries. ‘Drilling continues to define a wide coherent zone of mineralisation which is open at depth and maintains a very-linear consistent zone,’ Mila says.

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88 Energy Ltd - Australia-based oil explorer in US state of Alaska - Says mobilisation of Arctic Fox rig to Merlin-2 appraisal well drilling location is now complete. ‘Pre-spud operations are continuing and now entering the final phase. The Merlin-2 spud date is scheduled for the week commencing 7 March 2022,’ 88 adds.

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Cloudbreak Discovery PLC - London-based natural resource project generator - Raises £1.5 million in share placing, to advance various project generation initiatives and for working-capital purposes. Cloudbreak places 20 million shares at 7.50p each, representing a 20% discount to Monday's closing price of 10.22p.

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