Source - Alliance News

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


abrdn Asia Focus PLC - Investment firm focused on Asian small caps - Declares fourth interim dividend for the year ended July 31 of 1.61 pence net, compared to 1.6p a year prior. In total, the four interim dividends declared for financial 2023 - including this dividend - amounted to 6.41p per share, compared to 6.4p the previous year.


Jadestone Energy PLC - Oil and gas production company focused on the Asia-Pacific region - In July, production at the company’s Montara venture in offshore Australia was temporarily shut in following a gas alarm within the FPSO’s 4S ballast water tank. Says that an inspection has identified the location of a small defect between tank 4S and oil cargo tank 5C, which poses no safety or structural risk, nor any risk of a hydrocarbon leak to sea. Jadestone is now focused on final inspections in ballast water tank 4P prior to returning this tank to service, offloading crude oil from tank 5C, and re-entry to 4S in order to finish the inspection.


Westmount Energy Ltd - Oil and gas investing company focussed on high impact drilling outcomes in emerging basins - Notes the proposed transaction announced by Eco (Atlantic) Oil and Gas Ltd regarding its acquisition of a 60% operated interest in the Orinduik Block, offshore Guyana, through the acquisition of Tullow Guyana BV, which is a wholly owned subsidiary of Tullow Oil PLC. Westmount didn’t specify financial details, but said the acquisition of Tullow was in exchange for a combination of upfront cash and contingent consideration. Upon completion, Eco will hold a 75% participating interest in Orinduik, and will become operator of the block. Westmount holds 1.5 million shares in Eco, which represents 0.4% of its issued common shares.


TI Fluid Systems PLC - Oxfordshire-based maker of automotive fluid storage, carrying, delivery, and thermal management systems for light vehicles - Declares an interim dividend of 2.3 euro cents per share. The dividend will be paid in sterling. Says the dividend will be converted from euro to sterling using the London closing spot rate on August 18.


ACG Acquisition Co Ltd - Special purpose acquisition company looking to benefit from favourable price conditions for new economy metals and other mining materials - Says that it continues to discuss potential improvements to the transaction structure with its Anchor Investors and Appian Capital Advisory LLP, but has yet to reach an agreement regarding the proposed acquisition. The long‑stop date for a decision is August 18, after which either of ACG or Appian Capital may terminate the agreement. Subsequently, the book-building conducted in connection with the placing remains paused, and ACG has determined to cancel the retail offer. Any funds previously paid will be returned to retail investors through PrimaryBid in accordance with the corresponding provisions of the Prospectus. In mid-June, ACG announced that it had agreed the acquisition of the Atlantic Nickel nickel sulphide mine in Santa Rita and the Mineracao Vale Verde copper mine in Serrote, both in Brazil, from funds advised by Appian.


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