Source - Alliance News

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

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British Smaller Cos VCT PLC and VCT 2 - Leeds, England-based venture capital trusts - Confirm the addition of an over-allotment facility of £25 million to their subscription offer, following its launch in September. Add that they have received applications approaching £60 million so far, with the deadline for applications on March 28, 2024. Notes subscription was initially launched to raise £65 million.

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Frontier IP Group PLC - London-based intellectual property commercialisation company - Says portfolio company The Vaccine Group has appointed three animal health experts to its advisory board in order to support the scale-up of its herpesvirus-based platform. Says advisory board members are Merck & Co Inc’s Christophe Barnier-Quer, as well as Johan Dreesen and Vaughn Kubiak. Neil Crabb, Frontier IP Chief Executive Officer, says: ‘I am delighted TVG has been able to form an advisory group of such good quality. It is a testament to the potential of the Company, its vaccine platform and pipeline, and I look forward to further developments as TVG’s vaccines move towards scale up and full commercialisation.’

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DeepVerge PLC - Dublin-based environmental and life sciences firm - Says it has made progress in its discussions with potential buyers of assets and intellectual property in its Modern Water and Labskin business units. Adds that it hopes to agree on a sale in January. Says, however, that even if both asset sets are sold, the sales will not be of enough value to avoid closure or administration of the two subsidiaries. Adds that it currently has debts of £300,000 and is unsure whether it will have the funds to pay these debts. Says shares expected to be cancelled on December 27.

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Good Energy Group PLC - Wiltshire, England-based supplier of 100% renewable power and an innovator in energy services - Says investee company Zapmap, an electric vehicle charge point mapping service, has expanded its market presence to mainland Europe. Says its mapping service is now available in France, Germany, Belgium, the Netherlands and Luxembourg. Says coming months will see Zapmap open features including EV route planning and charging payments. Good Energy Chief Executive Nigel Pocklington says: ‘Zapmap has made significant progress over the last year as it continues to broaden and deepen its market presence in the UK and now across Europe. It continues to track with the rapidly growing electric vehicle market, which has expanded by 40% in the UK last year with the share of electric vehicles new car registrations increasing in almost all EU countries.’

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ValiRx PLC - life science company based near Birmingham, England, which is focused on early-stage cancer therapeutics and women’s health - Launches placing to raise £1.6 million, via the issue of 26.3 million shares at 6.0 pence each. Adds that it will also launch a retail offer at 6.0 pence per retail share. Says retail offer is only open to existing shareholders. Notes that certain directors will also subscribe for 500,000 shares at 6.0p each. Says it will raise £1.9 million in total, which will be used to integrate BioBank materials form its asset acquisition from Imagen, as well as research and development.

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Creo Medical Group PLC - Chepstow, Wales-based medical device company - Says it has completed the first procedure using Speedboat Ultraslim. Says the product was used for a lower Gastrointestinal tract procedure in the UK, with the first European procedure expected to follow shortly. Speedboat is used to treat gastrointestinal tract diseases, including bowel, stomach and oesophagus cancers. CEO Craig Gulliford comments: ‘This is yet another landmark moment for Creo Medical. We know what a difference this even smaller device will make in terms of broadening access to advanced energy in endoscopy for a wider pool of clinicians. Speedboat UltraSlim is compatible with all major endoscopes, meaning clinicians can bring advanced energy to their practices, allowing more patients to be treated endoscopically, which avoids surgery and the associated secondary costs and risks.’

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Macfarlane Group PLC - Glasgow-based supplier of packaging materials - Promotes James Baird to senior independent director.

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Asia Strategic Holdings Ltd - Singapore-based developer and operator of consumer businesses located in emerging Asian economies - Agrees amended loan facility with Macan Pte Ltd, increasing its loan to $4.5 million, from $3.0 million. Adds that the increase is in order to support its expansion of its school network. Notes that it has agreed to extend the repayment date to December 31 2027. Macan is the largest shareholder of Asia Strategic, representing 32.4%, while Asia Strategic Chief Executive Enrico Cesenni holds 35.1% of the voting rights of Macan.

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