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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Star Phoenix Group Ltd - oil and gas company focused on Trinidad and Indonesia - Posts belated annual results for year that ended June 30. Pretax loss narrows to $1.2 million from $1.9 million from a year earlier. Posts no revenue, unchanged from a year earlier. This is after having its shares suspended from trading on AIM in early January. This was after it was unable to appoints an auditor or publish its results, as resolutions at its general meeting just before Christmas were rejected by shareholders. Looking ahead, Star Phoenix says its key focus remains on securing new opportunities to provide future growth and value for the company and its shareholders.

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Petra Diamonds Ltd - South Africa and Tanzania-focused diamond miner - Says in the six months that ended December 31, it swings to a pretax loss of $3.4 million from a profit of $62.7 million a year earlier. Revenue falls to $212.1 million from $264.7 million, while total operating costs increase to $188.5 million from $157.1 million. Says it continues to develop long-term potential of resource base and is confident of generating sufficient cash to fund future capital expenditures. Says it will consider paying an annual dividend for its financial 2023 when it is finalising its annual results.

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Proton Motor Power Systems PLC - Newcastle-based producer of hydrogen fuel cells and electric hybrid systems - Signs memorandum of understanding with Wilo SE to cooperate on decentralised and decarbonised energy supply, after delivering three emission-free HyFrame S36 systems to Wilo in September for use in Wilo’s H2Powerplant, a hydrogen plant near Dortmund, Germany. Adds Wilo has ordered another HyFrame S36 system. Says accord provides definition of topics and tasks in climate-neutral infrastructure projects for the production and use of green hydrogen, with Wilo acting as a general contractor. Expects to derive synergies from Wilo’s extensive distribution network and contacts. Says the deal also envisages the identification of eco-friendly product applications complementing the respective existing or future brand portfolios.

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Premier African Minerals Ltd - Mining and natural resource development company focused on Southern Africa with its RHA Tungsten and Zulu Lithium projects in Zimbabwe - Says all major structures, tanks and associated civils at its Zulu project are complete, with pipework, electrical and pneumatic connections now being assembled. Chief Executive Officer George Roach said: ‘We are in the home stretch in terms of final plant assembly and commissioning, and we remain on track to produce spodumene concentrate this Q1 as planned [...] Major earthworks including tailings facility are well advanced and are not expected to cause any delay at this time. A particularly wet season has not helped but what has been achieved despite this and numerous difficulties associated with logistics, borders, ongoing relocations, inter alia is quite remarkable [...] I expect more significant assay results in the coming weeks and look forward to reporting on our first production.’

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Everest Global PLC - London-based investment company focusing on agricultural sector across Africa - Says it is unable to publish its results for the financial year that ended October 31 by March 31, the latest permissible date. Says auditors have not received approval under new regulations. As a result, its shares will be suspended from trading in London from March 31 until publication of the results. Says it has approached a number of audit firms ‘over the last couple of months’, of none had the capacity to do the audit. Expects to finalise the appointment of an alternative audit firm shortly and to work closely with its new auditor to complete the results audit in ‘as short a timeframe as possible’.

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Maven Income & Growth VCT 4 PLC - Glasgow, Scotland-based venture capital trust - Says net asset value per share is 69.00 pence as at December 31, up from 68.56p on June 30. Proposes final dividend payment to shareholders of 1.75p, down from 2.00p interim payment in previous half-year period. On Thursday, Maven Income & Growth VCT 3 PLC and Maven Income & Growth VCT 4 PLC both said it will utilise over-allotment facility as part of fundraise as ‘approaching’ initial target of £5 million. Earlier in February, the duo said the over-allotment facility was worth £5 million.

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