The following is a round-up of updates by London-listed companies, issued on Tuesday not separately reported by Alliance News:
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CT Private Equity Trust PLC - London-based trust seeking long-term capital growth through investment in private equity assets - Reports net asset value rose to 710.65 pence in the 12 months to December 31 from 640.30p in the prior year. During the year the company made new investments, either through funds or as co-investments, totalling £88.7 million. Recommends a quarterly dividend of 6.79p per share taking the total payout for the year to 25.77p. Says there is no shortage of investable opportunities and in recent months pricing of deals appears generally reasonable.
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Sabien Technology Group PLC - Technology company, focused on the heating, cooling and transportation sectors - Announces its M2G business has won further contracts worth £422,000 from the UK Government in addition to the £246,000 order reported on March 10. Confirms total order value in the year to date is £931,000, 70% higher when compared to the same period in 2022 of £546,000. Estimates a minimum 67% of the order value will be recognised as revenue during the financial year to June 30. Continues to seek further repeat business.
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abrdn Smaller Companies Income Trust PLC - Trust focusing on smaller company investments - Reports net asset value fell to 287.29 pence in the 12 months to December 31 from 442.52p in the prior year. Earnings per share improved to 11.24p from 9.69p in 2021 and the dividend was increased by 11% to 9.80p from 8.85p. Adds company suffered under-performance over one year against its index, the Numis Smaller Companies Index, returning a NAV total return of negative 33.2% versus an index return of negative 17.9%. Notes the company received an unsolicited proposal from another investment trust and the board believes it is in the best interests of shareholders to seek proposals from all potentially interested parties. Intends to review all the proposals fully and revert to shareholders as soon as practicable.
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Amaroq Minerals Ltd - Greenland-focused mine development company - Agrees $49.5 million debt financing to accelerate production and cash flow generation at its cornerstone Nalunaq gold development project. Funding package consists of $18.5 million senior debt revolving credit facility with two Icelandic banks, up to $21 million syndicated convertible notes and a $10 million, two year cost overrun loan by JLE Property Ltd. Plans to seek listing on Icelandic Nasdaq Exchange.
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7digital Group PLC - London-based music licensing provider - Reports the High Court sanctioned the scheme of arrangement in connection with the recommended cash offer by Songtradr for 7digital. Last day of dealings in 7digital shares is expected to be March 29. Trading in 7digital shares will be suspended from March 30.
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JPEL Private Equity Ltd - Guernsey-based investment company - Reports net asset value per USD equity share increased $0.01, or 0.6%, to $1.77 in the six months to December 31 from $1.76 in the prior year. Continues to explore strategic solutions as well as various liquidity options for certain of the company‘s investments and will provide more detail as and when these opportunities materialise.
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