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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International Consolidated Airlines Group SA - Aer Lingus, Iberia and British Airways-owner - Completes share buyback programme launched at the start of this month, buying a total of 27.1 million shares, about 0.5% of its total. The shares will be used to hedge the need to provide shares to Globalia as part of IAG’s purchase of Air Europe, which remains under regulatory review.

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IntelliAM AI PLC - Sheffield-based software company - Celebrates as subsidiary is named a ’Lighthouse for Artificial Intelligence’ and given a Digital Innovation Fund Lighthouse award of around £263,000. The grant is for a research project due to be completed later this year that focuses on the application of artificial intelligence in lubrication analysis. Lubrication, IntelliAM explains, is ‘one of the key drivers of manufacturing downtime’. The project aims to build software that will allow component information to be entered, after which a machine learning model will create the grease and oil lubrication schedules automatically.

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Incanthera PLC - Manchester-based oncology and dermatology treatments manufacturer - Confirms second production order by Skin & Cell AG to Frike Cosmetic AG in Switzerland to supply Marionnaud AG with 250,000 units. Follows a previous announcement in June, when Incanthera advised that the first order for its luxury skincare brand range had risen in anticipation of higher demand, and the second would likely also be bigger. The order is scheduled for delivery in the current financial year, ending March 31, and brings total placed orders to over 350,000 units with Frike Cosmetics. Supports management’s projected revenue for this year to exceed £10 million, and for Incanthera to achieve profitability.

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Tekcapital PLC - London-based intellectual property investor - Says that Guident Corp receives Space Florida grant to add low-latency satellite connectivity to its autonomous vehicle remote monitoring service. Explains that the Space Florida-Israel Innovation grant will support the development and implementation of system architecture, leveraging non-geostationary satellite technology. The project is scheduled to begin early this month.

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Microlise Group PLC - Nottingham-based transport technology software solutions firm - Launch of a series of new products, all of which are fully integrated with the group’s wider product portfolio, designed to address safety, compliance, and asset tracking. These include driver hazard warnings, direct vision standards systems, and proximity beacons. Chief Executive Officer Nadeem Raza says: ‘In line with our strategic goals, we continually strive to offer the best, most comprehensive suite of solutions to our clients and we are delighted to announce the launch of this series of new products. Safety, compliance, and asset tracking are all integral to the success of our clients’ businesses.’

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Guardian Metal Resources PLC - critical and precious metals exploration and development in the US state of Nevanda - Notes important developments for its tungsten interests, namely the Pilot Mountain project in Nevada’s Walker Lake mineral belt. Says it is ‘pleased’ by a US Senate report on the ‘criticality of the tungsten commodity’, adding that it emphasises the importance of developing tungsten sources in the US in the context of geopolitical conflict. The report explains that the Senate committee ‘recognises that China and Russia dominate the global tungsten and antimony supply chains, and remains concerned, as a result of the Russian war on Ukraine, about the stability of the antimony and tungsten supply chain. The committee encourages the Department of Defense to ensure that the domestic source of antimony and tungsten supply chains are not limited to a single source.’

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Marula Mining PLC - London-based mining company with operations in Africa - Wholly-owned subsidiary Muchai Mining Kenya Ltd agrees to buy an 80% shareholding in Agarwal Metals and Ores Ltd, a Kenyan mineral processing company. Agarwal Metals owns the Kilifi manganese processing plant, which is 60 kilometres from the Port of Mombasa in the Tezo Area, Kilifi County in Kenya. Marula will will make a £100,000 cash payment and issue £500,000 worth of new ordinary shares at an issue price of 10 pence per share. On execution of a formal share sale and purchase agreement and receipt of any regulatory approvals, it will make a final cash payment of £2.0 million, and issue a further £500,000 worth of new shares at 10 pence each.

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