(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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Fulham Shore PLC - owner of Franco Manca and the Real Greek dining chains - At annual general meeting on Wednesday, says trading in half-year to September 26 saw revenue increase to over GBP39 million from GBP36 million achieved in the comparable period in 2019. "This growth was driven by the eight new restaurants opened since September 2019, the continued increase in dine in customers since lockdown fully ended on 19 July 2021, and a strong performance across Franco Manca delivery. This performance was enhanced by strong suburban trading in addition to the typical summer season," it says. The Franco Manca brand performed well, while the Real Greek enjoyed a strong summer, with booking momentum continuing into the autumn. Revenue for three weeks to September 26 saw revenue average 33% ahead of 2019 levels, an improvement on the 27% reported for the three weeks to September 5. It says: "With strong trading and a healthy net cash position, the board believes that this is the right time to consider introducing a dividend policy for the group, reflecting the board's continued confidence in the outlook for Fulham Shore." Will give update on its dividend policy alongside interim results to be released in December.
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LoopUp Group PLC - London-based cloud communications provider - Revenue in six months to June 30 falls to GBP11.5 million from GBP31.9 million year-on-year, while firm swings to pretax loss of GBP4.4 million from profit of GBP7.5 million. "The first half of 2020 is a tough comparator for 2021 financial performance, as the Group benefited from a major spike in business demand at the onset of the Covid-19 pandemic (March to June 2020)," firm says. However, says remote meetings line of business remains "highly" cash generative.
Separately unveils plans to buy SyncRTC Inc for an enterprise value of USD4.5 million. Of this consideration, USD2.8 million will be paid in shares and the remainder in cash. Plans to carry out a placing at a price of 25 pence per share to raise a minimum of GBP7 million - and will use the funds to pay the cash component of the SyncRTC deal, invest further in Cloud Telephony, as a debt pre-payment to Bank of Ireland and to cover ongoing working capital requirements.
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Tritax Big Box REIT PLC - London-based investor in distribution centres - Plans placing, retail offer and subscription to raise proceeds of around GBP300 million. Proceeds, together with associated leverage and anticipated near term investment disposals, are expected to generate around GBP530 million of additional funding capacity to be used primarily to accelerate the company's development programme. "Market conditions in the UK's logistics sector remain very favourable, supported by strengthening structural drivers, occupational and investment demand at unprecedented levels and an acute supply shortage currently resulting in approximately four years' worth of unsatisfied occupational demand," it says.
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Livermore Investments Group Ltd - investment company focused on fixed income instruments - Net asset value per share USD1.00 at end of June, up from USD0.94 at December 31. Income from investments USD12.2 million for half-year period, stable versus USD12.3 million a year ago. "During the first half of 2021, the CLO and warehousing portfolio generated USD 12.2m in cash and USD 3.6m in net valuation increase. As the recovery takes hold, we anticipate the distributions to remain consistent with expectation of a benign near-mid term default outlook," firm says.
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JPMorgan Emerging Markets Investment Trust PLC - invests in emerging market companies, seeking out sustainable long-term returns - Net asset value per share at end of June 143.0p, up from 108.9p a year ago. Notes return to shareholders over year 36% and return on net assets 33%, both outperforming its benchmark index, the MSCI Emerging Markets index with net dividends reinvested, in sterling terms, which returned 26%. "Most of the outperformance came in the first half when the return on net assets was 24.9% against a benchmark return of 18.5%. However, it was very pleasing that the company held onto its gains in the second half despite the significant rotation in markets towards cyclical stocks and deep value stocks," it says.
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TransGlobe Energy Corp - Calgary, Canada-based oil exploration and production company - Says second quarter production was 13,077 barrels of oil equivalent per day, improving to 13,541 barrels per day in July and 13,551 barrels in August. September production to date is 13,200 barrels per day. "Compared to Q2, 2021, during the current quarter to date, natural production declines in Egypt were more than offset by well optimization activities and new drilling. Production in Canada declined naturally while awaiting the production start from recent new drilling, which is anticipated in early Q4-2021," it says. Year-to-date average is 12,902 barrels per day. President & Chief Executive Randy Neely says: "The company eagerly awaits the results from the new South Harmattan wells in Canada, and is also excited by the prospect that with the Egyptian parliament beginning its fall session in early October, ratification of our transformational PSC consolidation will occur shortly."
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Alpha FX Group PLC - London-based foreign exchange risk management and international payments - Launches banking platform for the alternative investment sector. "Having invested significantly in understanding the challenges that alternative investment institutions face when opening and managing bank accounts, Alpha has decentralised its technology stack to develop a bespoke front and back-end platform solely focused on the industry," it says. As part of the launch, will open an office in Luxembourg to show "commitment" to the local market.
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Gfinity PLC - e-sports and gaming solutions provider - Signs deal with Coca-Cola HBC to be tournament operator for the Coca-Cola COPA Challenge. The month-long tournament will run throughout October, consisting of eight shows broadcast digitally. "Under the terms of the agreement, Gfinity will be responsible for the full operation of the tournament from the design stage through to launch and broadcast delivery," it says. Gfinity adds that it has been appointed by internet service provider ASK4 as the tournament operator for the company's sponsored FIFA 22 tournament for students in purpose-built student accommodation.
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Triple Point Income VCT PLC - renewable energy investor - Enters period of exclusivity with a preferred bidder for the sale of its portfolio of hydroelectric power assets in the C share class, and a partial sale of its portfolio of hydroelectric power assets in the D and E share class. It will seek to dispose of the remaining assets in the D share class once "favourable" terms can be achieved.
Triple Point VCT 2011 PLC agrees exclusivity period with bidder for the sale of a substantial part of its portfolio of hydroelectric power assets which are predominantly held in the A share class. It will seek to dipose of the remaining asset in the A share class once a favourable sale price can be achieved.
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Zephyr Energy PLC - oil and gas explorer in the Rocky Mountain region - Starts wholly carbon neutral operations ahead of its target date of Thursday. Chief Executive Colin Harrington is "delighted" by the achievement. He adds: "From an operational standpoint, Zephyr is working to increase oil production volumes from our non-operated portfolio as well as finalising preparations to complete and test production from the first well on our flagship Paradox project. With this new phase comes an increased carbon impact, which is why the timing is absolutely right to launch our carbon-neutral initiative."
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Arbuthnot Banking Group PLC - London-based private and commercial banking - On Tuesday sells further 220,000 shares in Secure Trust Bank PLC, raising gross proceeds of around GBP2.5 million. Following transaction, Arbuthnot will continue to hold 2.1% stake, or 399,538 shares in Secure Trust.
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Gaming Realms PLC - London-based developer and licensor of mobile focused gaming content - Enters commercial agreement with 4ThePlayer.com, a developer of mobile-first gambling games, to integrate its content onto Gaming Realms' platform for distribution in the US. Best performing 4ThePlayer.com games to be built into Gaming Realms' platform, and expects by the end of November to have integrated and released the first game. The partnership will deliver 4 to 5 games in North American markets in 2022 and beyond. "Given the conflicts of interest that could arise and in accordance with the company's corporate governance protocols, Chris Ash is retiring as a non-executive director of Gaming Realms with immediate effect," it adds.
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Feedback PLC - medical imaging software company - Awarded a place on a national procurement framework for the Provision of Artificial Intelligence, Imaging and Radiotherapy Equipment, Associated Products and Diagnostic Imaging to public and private sector organisiations. The framework is run by Shared Business Services on behalf of NHS organisations and enables NHS customers to directly procure equipment related to AI imaging, including Bleepa's AI module. "The Bleepa AI module will allow NHS Bleepa customers to engage with AI tools of their choosing, knowing that they have a secure route of deployment right into the hands of their clinicians," it says.
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PRS REIT PLC - real estate investment trust focusing on new-build family homes for the private rental market - Raises gross proceeds of GBP55.6 million under placing and PrimaryBid offer. Total of 53.2 million shares conditionally placed by Singer Capital Markets Securities Ltd and Panmure Gordon (UK) Ltd at issue price of 103p per share. In addition, 741,589 PrimaryBid shares were conditionally placed.
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Ariana Resources PLC - gold miner in Turkey and Australia - Says Asgard Metals Fund to take interest in Panther Metals Ltd in Australia. This is to happen through issue of 1.3 million shares on completion of Panther Australia's ASX IPO. A further subscription for at least 250,000 shares in expected via the IPO placing. Panther Metals Australia's IPO is anticipated to take place before the end of 2021. Ariana operates the wholly-owned Asgard Metals Fund as part of its Project Catalyst Strategy. Panther Metals PLC notes the investment, and is "delighted" by the support for Panther Metals Australia.
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Genedrive PLC - molecular diagnostics company - Conditionally raises gross proceeds of GBP1.1 million through open offer. Received valid acceptances of 4.5 million shares, less than the 18.1 million offered to shareholders. Therefore, firm raises total proceeds GBP7.1 million via placing and the open offer.
Separately says the new generation Genedrive System platform, which has been developed to support the commercial launch of the Genedrive MT-RNR1 ID Kit, has now received CE-IVD marking in anticipation of launch into the UK and EU. The MT-RNR1 assay is used to screen for a genetic mutation called m.1555A>G. "The Genedrive test allows for the administration of alternative treatments if the mutation is detected, avoiding the life changing impacts and costs of antibiotic induced hearing loss," it says.
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City of London Group PLC - asset manager specialising in UK SME market and home reversion - Receives valid acceptances in respect of 951,269 shares in open offer, and also receives applications under excess application facility in respect of 1.1 million shares. As such, 2.1 million open offer shares have been accepted for applied for under open offer, and firm will issue open offer warrants over 1.1 million shares.
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PureTech Health PLC - Boston, Massachusetts-based clinical-stage biotherapeutics - Says founded entity Akili Interactive reports topline results of a phase 2 study of SDT-001, a digital therapeutic designed to improve measures of attention in children diagnosed with attention-deficit/hyperactivity disorder. "Results show the treatment was well-received by patients and demonstrated improvements in ADHD inattention symptoms consistent with those seen across previous studies of AKL-T01," it says. SDT-001 will be advanced into consultation with the Japanese regulatory authority PMDA regarding phase 3 implementation.
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By Lucy Heming;Â lucyheming@alliancenews.com
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