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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Live Co Group PLC - Surrey, England-based live events, entertainment and sports events company - Revenue in 2021 climbs 44% to £2.7 million from £1.9 million. Pretax loss narrows to £3.3 million from £8.4 million. Hit from exceptional items much-reduced to £364,000 from £4.4 million. Live Co had registered transactional and reorganisational costs of £2.7 million in 2020. This fell to just £66,000 in 2021. Its key Bricklive unit was still hit by Covid in the first half of 2021, though majority of postponed events from 2020 took place last year. A handful are occurring in 2022.
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Ovoca Bio PLC - Dublin-based biopharmaceutical company focused on women’s health - Pretax loss in 2021 widens to $6.2 million from $2.6 million in 2020. ‘Other administration expenses’ surge to €7.1 million from €2.6 million. Ovoca does not report any revenue. Company notes it has operations in Russia, though this accounted for 10% of cashflow for 2021. Its Russian units are not subject to any sanctions and Ovoca says no member of its board or management are on list of sanctioned individuals. Ovoca does, however, say that punitive sanctions imposed on Russia, as well as the Kremlin’s own counter measures, ‘may introduce some additional risks’ to company. ‘In the event of realisation of some economic and political risks, it cannot be excluded that Ovoca operations in Russia can be limited, suspended or terminated,’ company adds. Says ‘continued focus’ throughout 2021 was development of Orenetide, a treatment for hypoactive sexual desire disorder in pre-menopausal women.
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nanosynth group PLC - Nottingham, England-based digital monitoring and safeguarding systems manufacturer formerly known as Remote Monitored Systems - Pretax loss in 2021 stretches to £3.2 million from £968,905 in 2020. Revenue climbs to £208,778 in 2021 from a nominal figure of £600 in 2020. ‘During the year the Group refocused on the development and commercialisation of its core nano-particle platform technology and dispensed with non-core activities, including the return of Cloudveil Ltd to its founders and, the disposal of the majority of Gyrometric Systems Ltd,’ nanosynth says.
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Fox Marble Holdings PLC - London-based marble producer – Pretax loss in 2021 narrows to €1.9 million from €2.9 million. Revenue declines 9.8% to €646,064 from €715,900. Shares in company were suspended in April. Company at time arranges £400,000 funding by way of a convertible loan note to fund the acquisition of Eco Buildings Group Ltd. Fox Marble says in process of finalising its audited results for 2021. Will not be in position to present audited final results before the end of June 2022, therefore falling short of AIM obligations. ‘The delay in publication relates to the cumulative structural impact of Covid-19, including related staffing issues, on the accounts completion and audit process,’ Fox Marble says. ‘A further announcement will be made in due course on publication and posting of the company’s audited final results.’
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CleanTech Lithium PLC - Jersey-based lithium exploration and development company focused on Chile - The recent listing reports annual results for 2021, which was prior to its initial public offering. The year saw CleanTech conduct ‘successful work programme to prepare the company for listing on AIM’. It raised £4.8 million across two pre-IPO funding rounds and appointed board and management team. Pretax loss in 2021 widens to £1.2 million from £144,334 in 2020. Administrative costs surge to £1.2 million from £139,223. CleanTech priced its March IPO at 30p per share. The stock was down 1.5% at 23.40p each in London on Thursday morning, down 22% from IPO price.
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Victoria Oil & Gas PLC - London-based oil and gas company - Says will not publish 2021 annual report ahead of Thursday’s annual general meeting, due to uncertainty surrounding following legal ruling made in April. In April, company said its wholly-owned subsidiary Gaz du Cameroun SA was ordered by International Chamber of Commerce to pay $12.1 million to RSM Production Corp. The legal proceedings had been ongoing since 2018 and concern their joint-venture. Says unaudited attributable revenue for 2021 was $14.5 million, up 10% from $13.2 million in 2020. Says for five months to May 31 in 2022, revenue amounts to $6.3 million, up from $6.2 million. According to the rules, of ICC arbitration, the legal verdict cannot be appealed and a payment must be made without delay. Victoria in April said neither itself nor its subsidiary have the means to make the payment without delay. This prompted the decision to suspend trading of Victoria Oil shares until the ‘fundamental uncertainty’ resolves. Says unaudited cash and cash equivalents at end of 2021 was $2.1 million, up from $1.8 million in 2020.
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Kropz PLC - African phosphate developer - Pretax loss in 2021 balloons to $18.3 million from $2.0 million in 2020. Like 2020, Kropz does not post any annual revenue. ‘Activities during the year were focused on completion of construction activities at Elandsfontein and finalisation of the Hinda updated feasibility study,’ Kropz says. Elandsfontein is located in South Africa and Hinda at Republic of Congo.
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Ground Rents Income Fund PLC - invests in portfolio of long-dated ground rents from freeholds and head leases in the UK - In six months to March 31, net asset value per share shrinks 9.2% to 93.6 pence from 103.1p at September 30 year end. Dividends paid amount to 1.5p per share, down from 2.0p. Says ‘ground rent collection has remained in line with pre-pandemic collection rates levels’. As of June 1, says 88.9% of total ground rent income for year to September 30 collected, versus 88.6% in financial 2021 and 82.8% in financial 2019, which was pre-pandemic.
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Secure Property Development & Investment PLC - south eastern Europe-focused commercial property investor - NAV per share at end of 2021 amounts to €0.18, unchanged from year prior. Says impact of Covid meant efforts to seal merger with Amsterdam and Prague-listed Arcona Property Fund NV taking more time than expected. ‘With the start of the year bringing improvements on the health front, the process picked up pace and is now progressing meeting SPDI’s strategic objectives to create a regional property platform of reference in south eastern Europe by offering exposure to our shareholders to a much larger and broader east European regional property company,’ Secure Property says. Expects 2022 to be its final year of operations ‘as we know them’. Its net assets are to be turned into shares in APF and cash ‘within the year or soon after’.
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