Source - Alliance News

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

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Libertine Holdings PLC - Sheffield, England-based technology platform solutions provider - Reports revenue in six months ended September 30 tumbled to £121,000 from £648,000 the year prior although pretax loss narrowed to £1.2 million from £1.8 million before.

States cash reserves at end September were £0.9 million, which provide the group, absent any additional revenues, with the funds required to maintain current operations through to May 2024. Remains committed to developing its intelliGEN and HEXAGEN technology platforms. Presently engaged in commercial and technical dialogue under non disclosure agreements with prospective OEM customers across a number of different applications and geographic regions.

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Hellenic Dynamics PLC - London-based cultivator and supplier of tetrahydrocannabinol-dominant strains of medical cannabis flowers - Enters a five year memorandum of understanding with The University of Patras, Greece. Under the terms of the MOU, Hellenic and the University intend to enter into and collaborate to develop joint scientific research projects. Intends to focus on cannabis-based molecules to be used for clinical trials with a view to cultivate plants to be used by large pharmaceutical companies.

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Empire Metals Ltd - London-based minerals explorer and developer with copper, titanium and gold interests in Australia and Austria - Says results from an initial five of 40 reverse circulation drillholes at the Pitfield project in Western Australia have identified additional shallow high-grade bedded TiO2 mineralisation. Mineralogical studies have now commenced with the company engaging both the Australian federal government’s Commonwealth Scientific & Industrial Research Organisation and a leading, private industry, scientific research provider, AXT Pty Ltd, to carry out a detailed assessment of rock chip samples collected from drilling. Further promising results are expected from the remaining RC drillholes, many of which were focused on evaluating the length of the coincident regional magnetics-gravity anomaly which represents the core of the giant mineral system.

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Donegal Investment Group PLC - Letterkenny, Ireland-based, agricultural firm - Reports revenue from continuing operations in year to August 31 of €29.7 million, up 18% from €25.2 million. Pretax profit of €1.4 million compared to loss of €0.2 million before. No dividend was declared. Says seed potato business delivered satisfactory trading performance with markets returning to a more normalised trading pattern following Covid. In terms of the 2023/2024 season, explains the harvest of seed potato crops across Europe is largely complete with yields back between 10% to 30% due to adverse weather conditions. This is expected to lead to a tight supply of seed potato in the market resulting in robust pricing compensating for reduced volumes sold.

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TMT Acquisition PLC - London-based acquisition vehicle in technology, media and telecommunications sector - Reports operating profit and pretax profit in the half-year to September 30 of £10,425 compared to a loss of £60,087 in the previous six months period. Basic and diluted earnings per share totalled 0.04 pence compared to loss per share of 0.22p in the six months to March 31. Notes company has agreed to be taken over by Belluscura PLC.

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Gore Street Energy Storage Fund PLC - investor in utility-scale energy storage projects - Confirms the selection of Nidec Motor Corp as the Engineering, Procurement, and Construction contractor for its Texas-based energy storage asset ‘Dogfish’. The 75 megawatt asset will initially be built with a one-hour duration, while the design allows for future retrofitting to extend the duration should it be determined in the future that the additional potential revenue from a two-hour system justifies the related additional cost. Explains the asset will integrate into the ERCOT grid network with a target energisation date of December 2024.

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Amaroq Minerals Ltd - Greenland-focused mine development company - Announces that further examination of its 2022 geophysics data by Mining with Artificial Intelligence experts, ALS Goldspot Discoveries Ltd, has significantly expanded prospectivity of its 100% owned Nanoq gold project. Also announces the successful completion of its 2023 geophysics exploration programme.

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Time Finance PLC - Bath, England-based finance provider to small and medium businesses - Updates on trading for six months ended November 30. Reports revenue of £15.7 million, an increase of 19% from £13.2 million the year before. Pretax profit totalled £2.7 million, up 35% from £2.0 million. Lending-book continues to grow, increasing 11% to £188.5 million since the end of May and 23% from the year before of £152.7 million. Explains the increase in revenue is attributable to the compounding effect of continued growth in the size of the lending book.

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Immupharma PLC - London-based drug discovery and development company - Says Simbec-Orion has been appointed as the contract research organisation for the P140 (Lupuzor) phase 3 study in systemic lupus erythematosus, following extensive due-diligence and a six month tender process, involving 3 different CROs. This was conducted by ImmuPharma’s clinical team and agreed with its US partner, Avion Pharmaceuticals. Further, ImmuPharma and Avion consider that a phase 3 dose-ranging study, rather than the longer phase 2/3 adaptive study is preferable. Explains the direct phase 3 route is faster to filing for approval.

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PCI-PAL PLC - Suffolk, England-based global cloud provider of secure payment solutions for business communications - Provides update following the form of order hearing held at the High Court in London on December 18. Expresses pleasure with the decisions outlined in court by the Judge, Mrs Justice Bacon, and in particular notes that she has ordered the claimant, Sycurio Ltd, to make a substantial interim payment of costs, subject to certain terms and conditions. The Judge has also refused Sycurio’s application for permission to appeal. Expects formal form of order will be signed by the court later today and therefore expects to provide a further more detailed update in the coming days.

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