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:

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Puma Alpha VCT PLC - London-based venture capital trust - Says that, further to an offer for subscription to raise up to £15.0 million, together with an over-allotment facility for a further £5.0 million, it has made a final allotment of 532,203 shares. The offer prices were in the range of £1.19 to £1.22 per share. The offer is closed to further applications.

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Inspiration Healthcare Group PLC - Crawley, England-based medical technology company - Launches SLE1500, the latest addition to its specialist neonatal ventilator range. The SLE1500 is a compact respiratory support system that provides non-invasive ventilation modes to meet the needs of the smallest and most vulnerable neonatal patients requiring respiratory support. Chief Executive Officer Neil Campbell says: ‘The need for non-invasive ventilation is paramount for the effective treatment and care of the smallest and most vulnerable neonates. The SLE1500 strengthens our ventilator product range and complements our range of respiratory consumables allowing us to offer better solutions to our customers worldwide.’

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Active Energy Group PLC - London-headquartered biomass-focused renewable energy company - Appoints Kate Nga Nguyen as the company’s managing director of Southeast Asia. Nga Nguyen, who previously worked in corporate strategy and development for Enviva Biomass US, will focus on the deployment and expansion of Active Energy’s activities throughout Southeast Asia, including building commercial partnerships and establishing manufacturing centres in the region. The firm says that her appointment is the next step as it develops regional commercial partnerships for product development and manufacturing. As part of this strategy, Active Energy plans to open an office in Vietnam in 2024.

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Ross Group - Supply chain management and distribution company - Says there will be a delay in the publication of its audited financial results for the year ended June 30, 2023. Explains that the delay reflects the fact that more time will be needed to complete its audit, after additional information was received regarding a financial facility and new share issuance of 10%. Says this will now form a new and ‘significant’ part of a revised Working Capital Report and Forecast, which will now need to be submitted to the company’s accountants and auditor. Accordingly, requests and receives a temporary suspension of the listing of shares with effect from November 1.

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Sovereign Metals Ltd - Malawi-focused mining exploration and development company - Announces that a bulk sampling program to extract over 100 tonnes of ore from Kasiya is underway. The bulk sampling program is part of its graphite bulk sample program for qualification, downstream test work and product development. Explains that a major component to graphite sales agreements is customer qualification with graphite produced from this program to be shared with prospective end-users. Argues that Kasiya is one of the world’s largest natural graphite deposits outside of China and has the potential to become a key source of strategic supply to the US, UK, EU, Japan and South Korea, as China implements curbs on exports of natural graphite. Says the upscaled graphite qualification program will support upcoming project studies with its strategic partner, Rio Tinto PLC.

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RA International Group PLC - Specialist provider of complex and integrated remote site services - Sets out a proposal to reduce the company’s capital by cancelling its share premium account, which is currently $18.3 million, in order to create distributable reserves. Says that as the share premium account has only limited applications, and cannot be used to pay dividends or make share repurchases, a capital reduction should help to pay future dividends. The capital reduction is conditional upon receiving the approval of shareholders at a general meeting, which will be held on November 22.

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Schiehallion Fund Ltd - Guernsey-based investor in later-stage private businesses that have the potential to become publicly listed -Notes that, since converting its C Shares in September, the discount to net asset value at which the company’s ordinary shares traded has widened. Says the board and its investment manager are focussed on maximising returns for shareholders over the long term and, in this context, their priority is to ensure that the company has sufficient capital to deliver on its objectives. However, says the shares represent ‘an attractive investment opportunity at a deep discount to NAV’. Subsequently, it intends to allocate up to $20 million towards share repurchases.

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