Source - Alliance News

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


WANdisco PLC - Sheffield, England-based data migration platform - Updates on turnaround programme which follows announcements made by firm which may have materially misstated the company’s financial position. On successful completion of $30 million fundraise, Interim Non-Executive Chair, Ken Lever, plans to become permanent non-executive chair. Stephen Kelly and Ijoma Maluza’s interim roles will also become permanent, subject to the same condition. Kelly and Maluza held CEO and CFO roles, respectively. Achieves further cost savings, improving visibility towards cash-flow break-even. Forecasts annual costs for 2024 between $22 million to $23 million. Earlier, announced new customer win with Accenture, supporting a leading Australian bank’s data modernization programme. Notes a successful equity Issue will be a key step towards lifting the current suspension of the company’s shares.


First Class Metals PLC - metals exploration company seeking large-scale metal discoveries in Canada - Raises £997,400 through oversubscribed placing and subscription at 10 pence per share. Notes the placing and subscription shares being issued will represent around 12% of the enlarged share capital. Adds Chief Executive Marc Sale subscribed for £37,500 worth of shares in a private placement. Proceeds will primarily be used to fund exploration drilling work in Canada with the primary focus on diamond drilling at the Sunbeam & North Hemlo properties plus advance exploration work at the Zigzag hard rock lithium pegmatite project.


Sportech PLC - Bristol-based betting technology company - Plans 10,000 to one share consolidation immediately followed by a one for 1,000 share sub-division. Aims to improve liquidity and efficiency for smaller investors. On completion, plans special dividend of 35 pence per share worth £3.5 million. Estimates a reduction in shareholders could save the business £250,000 over the next five years.


Canadian Overseas Petroleum Ltd - international oil and gas exploration, development and production company pursuing opportunities in the US with operations in Wyoming - Issues around 12.2 million shares to cover the share settlement option exercised by bondholders for settlement of $500,000 of conversion payments due to previously converted 2028 bonds.


Igas Energy PLC - London-based onshore energy company - Confirms name change from IGas Energy PLC to Star Energy Group PLC, effective immediately. Move had been approved by shareholders earlier in June.


Nanosynth Group PLC - London-based company specialising in the synthesis and application of nanoparticles to create new and improve existing products - States firm will be unable to publish 2022 results by June 30, the deadline under AIM rules. Shares will remain suspended and company continues to consider potential funding options for the business.


Lexington Gold Ltd - gold explorer with projects in North and South Carolina - Announces that all resolutions at its special general meeting held today were approved. This included approving the acquisition of 76% of White Rivers Exploration Proprietary Ltd, an exploration and development company with significant gold assets in South Africa.


Ceres Power Holdings PLC - clean energy technology developer. FTSE Russell confirms stock will no longer be traded on AIM as from June 29. Follows decision by company to seek a full listing on the London Stock Exchange’s Main Market.


SRT Marine Systems PLC - Somerset, England-based provider of maritime domain awareness systems and technologies for surveillance, security, safety and environmental protection - Raises £750,000 through oversubscribed offer to retail investors at 50 pence per share. On Friday last, firm said it had raised £4.6 million via placing at 50p per share.

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