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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Mothercare PLC - clothing retailer for expectant mothers and children up to 8 years old - Says all dealings in Russia, including shipment of products, have been suspended. Local partner confirms it will immediately pause all operations at some 120 stores. Russia represents 20% to 25% of Mothercare worldwide retail sales. It was expected to contribute £500,000 monthly to group profit.
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Midatech Pharma PLC - Cardiff-based drug delivery technology company - Extends existing research and development pact with Johnson & Johnson’s Janssen Pharmaceutica NV. Collaboration extended to include another molecule and will focus on drug loading and optimizing in vitro duration of the product.
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Tissue Regenix Group PLC - Leeds-based regenerative medical devices company - Signs distribution pact with Geistlich Biomaterials Italia for OrthoPure XT ligament product in Italy. ‘The multiyear distribution agreement covers Italy currently but also has the potential for extension to wider geographies. As part of the agreement, Geistlich has also committed to advance the clinical science surrounding OrthoPure XT which will be conducted at some of the leading institutions by clinicians in Italy,’ Tissue adds.
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Kanabo Group PLC - Tel Aviv-based medical cannabis company - Strikes deal concerning sale of CBD products in Israel with Forbe Ltd. Among Forbe’s customers are two of largest health services providers in Israel and as well as second-largest pharmacy retail chain. Kanabo will procure and process CBD products under deal, while Forbe is charged with marketing, distribution and sales. Kanabo says CBD ‘regulatory landscape’ has improved after health ministry removed CBD products from ‘Dangerous Drugs Ordinance’ list.
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Haydale Graphene Industries PLC - Ammanford, Wales-based graphene technology company - Signs sales representation pact with Hainan Hongshida Information Technology Co Ltd. It means Hongshida will act as sales representative for Haydale’s ceramic and silicon carbide products in China (including Hong Kong) and Taiwan. Deal is for an initial two years and is non-exclusive. Hongshida will purchase minimum of 200 kilogrammes of product from Haydale in first year of pact, before 5,000 kg in second. If all volume commitments are met, deal will be valued at $1.1 million. Haydale adds figure value could even be ‘considerably’ higher depending on volume mix. Hongshida is an engineering and technology solutions provider. It works in manufacturing, electronic components, and machinery industries.
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Fox Marble Holdings PLC - London-based quarrying, stone processing and dimension stone marketing company - Strikes deal to supply Kosovan construction company BA Engineering & Consulting with 8,000 square metres of cut and polished tiles, worth roughly €200,000. ‘Fox Marble will process blocks from its quarries through its 100% owned processing facility, with first deliveries expected to take place in March 2022, with the full value of the contract expected to be recognised in the current financial year,’ company adds.
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Longboat Energy PLC - North Sea-focused exploration firm - Says drilling has kicked off at Kveikje exploration well in Norwegian North Sea. Longboat has 10% stake in well, which is tipped to have gross mean prospective resources of 36 million barrels of oil equivalent.
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Castillo Copper Ltd - Perth, Australia-based exploration company focused on copper across Australia and Zambia - Discovers more ‘high-grade’ gold, platinum and cobalt at BHA project, Australia. ‘Currently, Castillo’s geology team are visiting the core library in NSW to re-test up to six mineralised sections taken from Iron Blow and The Sisters Prospects for platinoids, base metals and cobalt - the findings will aid shaping the full extent of the inaugural field trip,’ company explains. Work towards a mineral resource estimate is continuing.
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Aura Energy Ltd - Australia-based minerals company with polymetallic and uranium projects in Europe and Africa - Receives approval from Australian Securities Exchange for halt of trading of shares on ASX, pending announcement related to capital raise. AIM trading unaffected.
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Trinity Exploration & Production PLC - oil exploration company focused on Trinidad & Tobago - Receives final certificate of environmental clearance at Galeota project from Trinidad & Tobago’s Environmental Management Authority. Trinity adds: ‘This now completes all required environmental clearances for the Echo Field development, which has the potential to achieve peak annualised gross production of 7,000 bopd. Receipt of the CEC is another important step on the path to achieving final investment decision for the Echo Field development.’ Timetable of final investment decision ultimately rests on outcome of farm-down process, Trinity adds.
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Concurrent Technologies PLC - Essex, England-based designer and manufacturer of computer boards - Wins £1.6 million deal with ‘major’ European defence contractor. Concurrent will supply I/O Intensive 3U VPX Plug in Card, to be used in electronic vision systems in land-based vehicles.
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TruFin PLC - London-based financial technology - Says Satago Financial Solutions Ltd selected by Lloyds Bank as platform of choice for provision of invoice factoring solutions to customers. Lloyds also makes a strategic investment of £5 million in Satago. ‘All parties believe that the commercial agreement will be transformational for Satago and has the potential to deliver significant equity value uplift for Satago,’ TruFin says. Investment made at pre-money valution of £20 million. Company adds: ‘Assuming conversion based on the £20 million valuation (and assuming LBG does not subscribe for its pro rata entitlement to shares), TruFin would hold approximately 68% of Satago.’ Ben Stephenson, head of specialist client solutions at Lloyds Bank Commercial Banking, joins Satago board.
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Gaming Realms PLC - London-based developer and licensor of mobile focused gaming content - Alchemybet Ltd subsidiary wins iGaming licence in Ontario, Canada ahead of province opening launching regulated iGaming market next month. ‘Gaming Realms’ entry into the Canadian iGaming market marks a significant milestone for the group, presenting a long-term growth opportunity as the company focuses on providing its Slingo Originals game content to Ontario’s licensed online casino operators,’ company adds.
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Bidstack Group PLC - London-based in-game advertising platform - Teams with Xaxis, a specialist in outcome media. Xaxis itself describes outcome media as being focus on optimising digital success, matching performance metrics more closely to an advertisers wider goals, such as increased footfall or brand recognition. ‘The partnership enables Xaxis to access Bidstack’s extensive portfolio of seamless in-game ad formats and branded experiences. It also provides Xaxis with access to Bidstack’s global supply of programmatic inventory which features 70+ exclusive titles including Dirt 5, Football Manager 2022, and Top Eleven. The inventory is available across mobile, PC, cloud gaming and VR formats, with additional supply for console being added in the coming months,’ Bidstack says.
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