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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Hyve Group PLC - London-based events organiser - To exit Russian market. ‘Hyve recognises the impact this will have on its colleagues and remains determined to find an outcome which offers assurance and stability for all those affected. Meanwhile, the group continues to provide support to its Ukrainian team and their families, including through financial and relocation assistance,’ Hyve says. Company says liquidity is strong and it is seeing strong like-for-like customer spend, booking and cash collection.
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Genel Energy PLC - London-based oil company focused on the Kurdistan region - Revenue in 2021 more than doubles to $334.9 million from $159.7 million in 2020. Pretax loss narrows to $307.8 million from $416.7 million. Average Brent price up to $71 a barrel from $42. Working interest production dips to 31,710 barrels of oil per day from 31,980 bopd. Annual payout increased to 18 cents per share from 15 cents.
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Bezant Resources PLC- copper-gold exploration and development company - Says eight diamond drillholes completed at Gorob prospect. Holes consistently intersected ‘visible copper mineralisation’. A vertical shaft explored in 1970s has been spotted at Hope asset. ‘Investigation of the shaft and its alignment with known and projected near-surface mineralisation indicates scope for a high-grade near-term production opportunity,’ Bezant says. ‘The shaft location, in relation to drilled mineralisation and the latest surface projections is expected to significantly reduce future capital expenditure on underground development.’
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Enwell Energy PLC - London-based oil and gas company - Partially restarts operations in Ukraine at rate of 1,600 boepd. Output expected to remain at this level for foreseeable future, though ‘production operations are likely to be intermittent depending on circumstances in the country’.
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GreenX Metals Ltd - Developing Arctic Rift copper project in Greenland - Revenue in six months to December 31 falls to $111,664 from $166,442 a year earlier.
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Active Energy Group PLC - London-based biomass products producer - Receives Forest Stewardship Council certification for CoalSwitch fuel. ‘Active Energy’s certification to these FSC standards confirms that the production of CoalSwitch will use forest-based materials from responsible sources and that the company’s suppliers have committed to the strictest standards currently governing forest management,’ Active Energy says.
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ThomasLloyd Energy Impact Trust PLC - Asia-focused renewable energy investment trust - Receives formal approval from India for acquisition of 43% interest in SolarArise India Projects Private Ltd. SolarArise owns seven solar power projects in India with a total capacity of 434 megawatts. Deal likely to be completed in second quarter of 2022. Adds $34.6 million consideration to be settled in ThomasLloyd shares.
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abrdn Smaller Cos Income Trust PLC - invests in UK small-cap stocks - Net asset value total return in 2021 amounts to 30%, topping Numis Smaller Companies ex Inv Trust Index which returns 22%. Lifts payout 7.4% to 8.85p from 8.24p. Net asset value per share increases 27% to 442.52p from 348.91p.
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Triple Point VCT 2011 PLC - small and medium sized enterprises investor - Uses £5 million of £15 million-szied over-allotment facility in relation to subscription. ‘This increases the amount that can be raised under the offer to £15 million,’ company says.
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Wilmington PLC - London-based provider of information and training for governance and risk & compliance - Says major face-to-face event in US - Rise National - successfully takes place. Therefore, Wilmington’s profit for year ending June 30 now expected to top market consensus by at least 10%. Consensus forecast for adjusted pretax profit currently ranges from £18.0 million and £18.1 million.
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Harworth Group PLC - Rotherham, South Yorkshire-based land regenerator - Agrees five-year £200 million revolving credit facility, along with £40 million accordion option. It replaces a previous RCF of £150 million, which is due to expire in February 2024. ‘The new RCF is aligned to Harworth’s strategy to double the size of its business over the next five to seven years and provides significant additional liquidity and flexibility,’ Harworth says. Carries interest rate with a margin payable above SONIA in the range of 2.25% to 2.50%.
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Ocean Outdoor Ltd - London-based digital out-of-home advertising firm - Retains £25 million advertising contract for BFI IMAX site in London. ‘As the incumbent, Ocean has held the rights to sell the unique outdoor advertising landmark for more than 10 years. Following a highly competitive pitch process, the company’s contract is set to be renewed for another five years with a lifetime value of £25 million,’ Ocean says.
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Virgin Wines UK PLC - direct-to-consumer online wine retailer - Revenue in six months ended December 31 flat annually at £40.6 million, but represents 55% jump on two-year basis. Pretax profit falls 6.6% to £3.2 million from £3.4 million in prior year. Company notes ‘increased investment in new customer acquisition and additional operating costs as a listed business’. ‘The second half of the year has started well. We continue to make progress with our strategic initiatives and remain in line with management expectations,’ Chief Executive Jay Wright says.
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Tissue Regenix Group PLC - Leeds-based regenerative medical devices company - Revenue in 2021 rises 20% to $19.7 million from $16.5 million in 2020. Tissue reports ‘strong performance’ in US. Pretax loss narrows to $5.1 million from $13.1 million. Total administrative expenses cut to $12.9 million from $21.2 million.
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GENinCode PLC - Oxford-based biotechnology company focused on risk assessment and prediction of cardiovascular diseases - Teams with Academic Health Science Network for the North East and North Cumbria to pilot use of Lipid inCode genetic diagnostic test for hypercholesterolemia, meaning high levels of cholesterol. ‘The AHSN NENC pilot marks the beginning of our Lipid inCode diagnostic testing for hypercholesterolemia and familial hypercholesterolemia sufferers and we look forward to supporting the NHS in reaching its goals to diagnose patients with hypercholesterolemia,’ Chief Executive Matthew Walls comments.
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