The following is a round-up of updates by London-listed companies, issued on Wednesday not separately reported by Alliance News:
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LoopUp Group PLC - London-based software provider for remote meetings - Says it expects annual revenue to be ahead of market expectations at £16.5 million in 2022, but below £19.5 million in 2021. This is due to a ‘material jump’ in fourth-quarter revenue following the PGi Connect transaction announced back in September. LoopUp expects adjusted earnings before interest, tax, depreciation and amortisation to be in line with market expectations at a loss of around £1.0 million, swung from positive earnings of £1.2 million in 2021. Says its Cloud Telephony business achieves strong operational progress and commercial traction during 2022. Looking ahead, sees continued strong new business growth in its Cloud Telephony business. Expects marginal revenue growth in 2024.
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Versarien PLC - Cheltenham, England-based engineering materials company - After the sudden resignation of CEO Neill Ricketts sent its shares plunging earlier this month, the company reveals it is likely to need further funding, and is reviewing all appropriate options. ‘At this time it is not possible to be more specific on the type of funding that may be secured,’ it says. ‘This comes despite ’significant cost reductions‘, Versarien says, including reducing headcount and discretionary spending. The non-executive directors have waived remuneration indefinitely, with executive directors’ pay also under review. ’Whilst we remain confident of the commercial benefits of our graphene technology and that it can bring significant returns to Versarien, the company continues to face a number of challenges that the board is working hard to overcome,‘ it says.
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88 Energy Ltd - Australia-based, Alaska-focused oil explorer - Says the Hickory-1 exploration well is drilling ahead after successfully intersecting the SMD-A, B and C reservoirs. The initial data shows elevated mud gas readings and high resistivity that indicate potential hydrocarbon pay. Says logging-while-drilling data collected over the primary targets indicates potential hydrocarbon pay that will be further assessed by the wireline logging and coring programme.
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RentGuarantor Holdings PLC - London-based provider of rent guarantee services in the UK private rental sector - Signs a deal with Vorensys Ltd for the use of the RentGuarantor service. Chief Executive Officer Paul Foy says: ’We are really looking forward to working with Vorensys in assisting with the development of end to end guarantee solutions for tenants, and will work closely together over the coming months to create the correct technology to effectively manage new relationships ahead of consumer launch.‘ Vorensys provides comprehensive UK tenant referencing solutions for letting agents and landlords, including white label tenant referencing services to insurers, software vendors and property management businesses.
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Premier African Minerals Ltd - Africa-focused minerals and metals project developer - Says the plant assembly and construction is complete at the Zulu Lithium and Tantalum project. Expects first live production to produce spodumene this week. Chief Executive Officer George Roach says: ’We expect to produce spodumene, a lepidolite mica rich concentrate and a tantalum rich concentrate late this week provided that final formal outstanding approvals from certain Zimbabwean authorities are received.‘
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