Source - Alliance News

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


Atlantis Japan Growth Fund Ltd - Guernsey-based investment firm focused on long-term capital growth from listed Japanese equities - Net asset value per share at October 31 falls 9.0% to £1.92 from £2.11 at April 30. NAV total return in the first half to October 31 is negative 6.7%, underperforming against its benchmark Topix, which returns negative 1.8%. Firm explains that the results are driving by poorer economic outlook in Europe and the US. Looking ahead, Atlantis Japan Growth says domestic demand is picking up due to reduced Covid restrictions in Japan.


Bellevue Healthcare Trust PLC - London-based healthcare sector investment company managed by London-based Bellevue Asset Management Ltd - Says it will pay a total dividend of 6.47p per share for financial year 2022 ended November 30. The company will lower its total dividend for financial year 2023 by 7.4% to 5.99p each. Says that the dividend plan is in line with 3.5% of NAV target. Says NAV per share on November 30 was 171.16p, down 7.4% from 184.91p a year prior.


Block Energy PLC - London-based oil and gas company focused on Georgia - Says JSR-01 DEEP testing at Patardzeuli field in Georgia proves oil in previously unproduced zone. Block Energy notes that the results mean it will pursue Patardzeuli full-field redevelopment. The well was drilled 470 metres deeper than the donor JSR-01 well and close to the original oil-water contact. Meanwhile, JSR-01 well currently producing 45 barrels of oil per day.


Caracal Gold PLC - London-based East Africa-focused gold producer - Publishes scoping study focused on the expansion of its flagship Kilimapesa hill gold project in Kenya. It expects a 10-year mine life and an average gold production of 24,000 ounces of gold per year. The free cash flow over the life of the mine is anticipated to be around $118 million with a first full-year free cash flow of $12.6 million. Caracal calculated its estimates with a gold price of $1,700 per ounce and all-in sustaining costs of $1,095 per ounce of gold. The company expects a 114% internal rate of return. Caracal plans additional drilling on Kilimapesa hill in early 2023.


CentralNIC Group PLC - London-based online services provider - Kestrel Partners LLP buys 108,220 shares at average £1.43 per share, worth £155,279. CentralNic Non-Executive Director Max Royde is a shareholder in Kestrel Opportunities, which holds 17.9 million CentralNic shares. Kestrel in total indirectly holds 65.5 million shares, a 22.7% stake.


Condor Gold PLC - gold exploration company - Raises £2.3 million via placing 15.2 million shares at 15 pence each. Chair Jim Mellon says: ‘I am delighted with the results of this fundraise, which provided pre-emptive rights to all shareholders and raised gross proceeds of approximately £3.3 million, being £1 million from Galloway, my investment vehicle and approximately £2.3 million from the open offer and placing.’ He adds that ‘the fundraise allows the company to enter a sale phase sufficiently funded’. The fundraise was announced on December 5 with a goal to raise up to £3.9 million.


Poolbeg Pharma PLC - London-based clinical stage infectious disease pharmaceutical company - Identifies new drug candidates from joint programme with OneThree Biotech Inc. Explains that its artificial intelligence programme leverages unique respiratory syncytial virus, or RSV, human challenge trial data. This is to identify potential drug targets and disease-relevant biological pathways. Poolbeg says the priority is to validate compounds with existing phase 1 clinical data. RSV is a common contagious virus affecting the lungs and breathing passages, with no vaccines currently available for treatment. Further, last week Monday, the company said that it completed the POLB 001 Lipopolysaccharidehuman challenge clinical trial, with no serious adverse events. POLB 001 is ‘a viral strain agnostic, small molecule immunomodulator being developed to address the unmet medical need for severe influenza.’ The company expects results from full data analysis on POLB 001 in the second quarter of 2023.


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