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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Cerillion PLC - London-based billing and customer relations management software - Says trading in six months March 31 ‘vert strong’. Expects revenue ro rise 26% annually to £16.1 million. Adjusted earnings before interest, tax, depreciation and amortisation to jump 48% to £7.1 million. ‘Cerillion's sales pipeline remains strong and this, together with the record performance in the first half of the year, underpins the board's confidence that trading for the full year will be in line with its expectations,’ Cerillion says. ‘The excellent performance in the first half reflects on-going work on new customer implementation projects and strong demand from existing customers, against a wider back-drop of continuing strength in demand for telecoms services and substantial ongoing investment in 5G and fibre rollout.’

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Iofina PLC - London-based iodine and chemical product manufacturer - Says ‘experiencing robust demand for iodine and iodine derivatives’. Says iodine spot prices reach $60 a kilogramme, rising 20% since start of year. Produces 103.8 metric tonnes of crystalline iodine from Oklahoma, US plants in first quarter. On track for annual target of 225 to 240 metric tonnes.

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Canadian Overseas Petroleum Ltd - Calgary, Canada-based oil and gas company - Says affiliate COPL America Inc signs deal to buy assets from Cuda Energy LLC. Canadian Overseas signs $20.0 million bridge loan to finance deal. In addition, it plans $10.0 million placing and subscription. Cuda has interests in Wyoming, US.

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Anglo Pacific Group PLC - natural resources royalty and streaming - Receives favourable judgement in dispute with Quasar Resources Pty Ltd, operator of Four Mile uranium mine. Anglo Pacific has 1% net smelter return royalty at asset. Dispute, which dates back to 2016, related to level of charges being applied to calculate net smelter return revenue. Supreme Court of Western Australia rules in Anglo Pacific's favour and decides any costs at asset, and also Beverley processing plant, should be applied as permitted allocable charges. Company adds: ‘The parties must now finalise orders to be submitted to the judge by 22 April 2022. The group will make a further announcement after such date detailing amounts owed to the group from Quasar and the future application of the royalty. Quasar have 21 days from the date the final orders are made by the judge to appeal the decision.’

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Altus Strategies PLC - Oxfordshire, England-based mining royalty company - Granted gold mining licence for Korali Sud licence in Mali, which includes Diba project. Calls on Bristol, UK-based Mining Plus UK Ltd to conduct mineral resource estimate and preliminary economic assessment.

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Invinity Energy Systems PLC - London-based energy storage company - Secures trio of International Organization for Standardization certifications for quality management, environmental management and health & safety management. ‘The individual standards to which Invinity is now certified are core to the company's business,’ Invinity adds.

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Velocys PLC - Oxford-based sustainable fuel technology company - Agrees with British Airways to extend Altalto project and option agreement for another year to March 31, 2023. BA has option to acquire 50% of Altalto Ltd, which turns household and commercial waste into clean-burning fuels. In addition, company draws back to its recent announcement in relation to securing a deal with a European renewable fuels developer. As part of this pact, Velocys will offer initial engineering services to a project.‘ While revenue for deal will be small, Velocys says pact ’broadens‘ its customer base.

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Tintra PLC - Windsor, Berkshire-based firm building banking and infrastructure technology systems - Granted payment services approval in Mauiritius. Company says this allows Mauritius arm to provide payment services and merchant online services for accepting electronic payments. ’Mauritius has become an important financial services hub for Africa and South Asia,‘ Tintra says.

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Bango PLC - Cambridge-based data-driven commerce company - Signs deal to support

T-Mobile US Inc's third-party products offering within Bango Platform. ’Bango enables T-Mobile to rapidly and cost effectively scale-up value-added-service offerings, giving customers choice and value across a growing range of subscription products and services. With this new agreement, a majority of US telco customers will now be served through Bango technology,‘ Bango explains.

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SysGroup PLC - Liverpool-based IT services and cloud-hosting provider - Expects to report adjusted earnings before interest, tax, depreciation and amortisation of £2.8 million for year ended March 31, down from £2.9 million in prior year but largely in line with figure for financial 2020. SysGroup says this is despite ’external challenges faced throughout our industry over the last 2 years‘. Revenue for year expected to decline as customers defer IT spend. SysGroup adds: ’Encouragingly, during the latter part of H2 FY22, we have started to see enhanced trading conditions with both new and existing clients. Whilst not yet at pre-pandemic levels, customers are once again starting to feel confident to commit to spending on enhancements to their essential IT services.‘

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Venture Life Group PLC - Berkshire, England-based self-care product manufacturer and distributor - Reiterates 2021 guidance. Expects to post revenue rise of 8.3% to £32.6 million from £30.1 million. Revenue in second half alone rises 35% year-on-year to £18.7 million. Adjusted earnings before interest, tax, depreciation and amortisation to be in line with market expectations. On ongoing audit, Venture Life says its auditors ’continue to experience resourcing issues‘. Additional time is needed to complete audit procedures and 2021 results expected to be announced in ’early May‘.

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