Source - Alliance News

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

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FRP Advisory Group PLC - London-based corporate finance, restructuring and debt adviser - Places 27.8 million shares with new and existing institutional investors at 140 pence, raising about £38.9 million. Places 5.4 million new shares, while 22.5 million shares sold from existing shareholders. Proceeds will go towards strengthening the company’s balance sheet and provide additional capital for future acquisitions. Chief Executive Geoff Rowley says: ‘We have been very pleased with the strong investor response to the placing. This has enabled us to introduce new institutional shareholders onto the share register and further bolster our strong balance sheet as we continue to target attractive acquisitions.’ Will have 248.9 million shares in issue following placing.

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Conygar Investment Co PLC - property investment and development group - Investigating raising debt finance to help fund potential investments. Considering raising up to £25 million initially, which is planned to help continue development of the Island Quarter site in Nottingham city centre. ‘Such debt finance could include a zero dividend preference share, an interest-bearing loan or a term debt facility. Other forms of debt finance may also be contemplated,’ company adds.

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Zenova Group PLC - Essex-based fire safety and thermal insulation products provider - Says results of a recent test confirms ‘insulation qualities’ of its Zenova IP thermal insulation paint and Zenova IR thermal insulation render. ‘The test was carried out by a leading independent testing company, Intertek, in accordance with testing standard ASTM D4803 to confirm how Zenova IP thermal insulation paint and Zenova IR thermal insulation render reduces heat build-up on steel surfaces,’ company adds.

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Seeing Machines Ltd - Canberra, Australia-based driver monitoring technology firm - Wins additional contract from existing global automotive Tier-1 customer to deliver its FOVIO driver monitoring system for an unnamed global automotive group. Adds: ‘This program, to be delivered via Seeing Machines’ embedded driver monitoring engine, is led out of North America and covers a broad array of vehicle models with certain minimum volume guarantees, a start of production scheduled from mid-2024, and an initial lifetime value of A$23 million.’

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Valereum PLC - Gibraltar-based company, focused on linking US dollar and sterling into the world of crypto currencies - Plans to launch a new global marketplace platform for non-fungible tokens. ‘Full details of the Valereum NFT Marketplace, including its headquarters jurisdiction, will be announced in due course. Given the confidential nature of ongoing negotiations, key launch partners will also be announced at a later date,’ it says. Intends to allow direct access to all parties interested in acquiring NFTs listed on the open marketplace platform.

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Goodbody Health Inc - Vancouver, Canada-based cannabidiol products company formerly known as Sativa Wellness - Passes registration criteria for UK’s Care Quality Commission. Now all of firm’s testing services will be under the regulated activity diagnostic and screening procedures. ‘This enables our customers and other stakeholders to be confident that Goodbody will provide safe, effective, compassionate, high-quality care, and can be reassured that the Company will be monitored and inspected to make sure that standards of quality and safety continue to be achieved. This in turn helps to drive customers into our network of clinics to benefit from our expanding range of products and services,’ company adds.

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Light Science Tech Holdings PLC - environment agriculture and technology and contract electronics manufacturing company - Launches sensorGROW product, which provides clients with real time and historical data of their growing environment. Company adds: ‘The technology enables farmers to monitor the following key growing factors in real-time: air speed, carbon dioxide levels, humidity, light, oxygen, plant disease, soil, temperature and water pH levels - with possible benefits including reductions in water usage, nutrients, fertilisers and energy while increasing yields and producing healthier crops.’

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Angle PLC - Surrey, England-based medical diagnostics company - Notes university in Australia uses Parsortix in small cell lung cancer trials. ‘The primary aim of this study was to demonstrate the ability to evaluate the PD-L1 status of isolated circulating tumour cells, providing an alternative sample than solid tissue in SCLC, which may help to predict response to immunotherapy,’ company says. Notes study demonstrates both the ability of the Parsortix system to isolate EpCAM-negative and positive circulating tumour cells from SCLC patient samples and how isolated circulating tumour cells can be used to quantify PD-L1 expression.

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Cizzle Biotechnology Holdings PLC - London-based diagnostics developer - Enters agreement with Texas-based healthcare consulting firm Behnke Group for marketing agreement to help it expand in the US. ‘The relationship will build on Cizzle Biotechnology’s heads of terms to partner with CorePath Laboratories, a full service cancer reference laboratory, to develop and offer its proprietary early-stage lung cancer test throughout the US,’ company adds. It notes Behnke was responsible for identifying and facilitating the company’s deal with CorePath.

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Genedrive PLC - Manchester-based molecular diagnostics company - Notes UK’s National Institute for Health & Clinical Excellence starts evaluation of company’s MT-RNR1 test via its Diagnostics Assessment Programme. ‘DAP evaluations are designed to provide robust recommendations on the use of new products, which is presented in the form of NICE guidance, and to promote rapid and consistent adoption of clinically innovative and cost-effective diagnostic technologies in the NHS,’ it says. It notes this guidance is ‘important element’ for uptake and adoption of its test.

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