(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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One Media IP Group PLC - Buckinghamshire-based digital music rights acquirer, publisher and distributor - Says will launch a new Men & Motors television channel, delivering additional income stream for company. One Media acquires rights to Men & Motors, a UK TV channel, back in 2012. "During 2020, Men & Motors achieved 134 million minutes of viewing on YouTube equating to 2.5 million viewing minutes per week," One Media says.
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Dekel Agri-Vision PLC - West Africa-focused agriculture company - Plans to raise GBP3.0 million through placing, subscription and retail offer. "The balance of the gross proceeds will be used as working capital to strengthen the company's balance sheet and also support the cashew processing project at Tiebissou, as it commences first production in second quarter 2021," Dekel says.
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Greatland Gold PLC - precious and base metals exploration & development company - Notes "further excellent results from infill drilling" at Havieron asset, Australia. Adds that 2021 drilling plan involves 65,000 metres of drilling over next six months.
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IMC Exploration Group PLC - Irish gold explorer - Intersects mineralised acid volcanic horizon at North Wexford asset. Says North Wexford intersects 50 metres deeper than historical drilling programmes. "Pyrite mineralisation occurs throughout drill hole 20-1200-01 and the alteration encountered is strongly indicative of a mineralising system. Analytical and mineralogical studies are underway," IMC adds.
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SolGold PLC - Australian gold and copper mining company with operations in Ecuador and Australia - Says in full compliance with mining law in Ecuador. "Full compliance by SolGold under Article 38 is factually beyond question," SolGold adds.
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Salt Lake Potash Ltd - Western Australia focused organic sulphate of potash miner - Completes share purchase plan and raises AUD8 million, about GBP4.5 million, more than the AUD5 million it initially planned. "The SPP, originally intended to raise AUD5.0 million, was heavily oversubscribed," Salt Lake says.
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Phoenix Copper Ltd - North American-focused base and precious metals explorer - Reports material "advancement" of open pit economic model and feasibility study work at Empire polymetallic mine. Says metallurgical testwork and an updated preliminary economic model moving towards completion.
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Xtract Resources PLC - diversified metals and minerals producer - Says phase one drilling of second hole of Racecourse area of Bushranger project, Australia progressing. Drilling reaches depth of 405 metres, over halfway through the planned 750 metres. "We are currently cutting through a wide zone of geological alteration and low to moderate grade copper mineralisation lying above the main zone. We will continue to report results as the hole advances over the coming days," Executive Chair Colin Bird says.
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W Resources PLC - tungsten, tin and gold mining company - Receives conversion notice from Atlas Capital Markets for GBP100,000 of convertible bonds. Company to use 98.9 million shares at conversion price of 0.1032p.
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Canadian Overseas Petroleum Ltd - oil and gas company focused on Sub-Saharan Africa - Notes US Presidential Executive Order related to oil and gas leases. Says order concerns acquisition of Atomic Oil & Gas LLC. "The company believes the executive order signed today by the president of the United States to have a largely positive effect, and limited negative effects," Canadian Overseas says. Canadian Overseas says it needs "no federal oil and gas leases to conduct it operations".
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TransGlobe Energy Corp - oil exploration & production company - Announces 2021 capital budget of USD27.2 million, USD16.6 million in Egypt and USD10.6 million in Canada.
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Nostra Terra Oil & Gas Company PLC - Texas-focused oil and gas explorer - Says company is now cashflow positive. "This is a significant milestone achieved following comprehensive, but careful, cost reductions and an increase in daily net oil production by the company". Nostra says it has cut operating costs and increased output. Also notes boost from oil prices.
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Genel Energy PLC - oil producer with operations in Kurdistan - Receives payments from Kurdistan regional goverment for oil sales in December. Says Tawke partners receive USD43.1 million, Genel's share at USD10.5 million. Sarta partners get USD2.9 million, with Genel's share at USD1.4 million.
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Vaalco Energy Inc - hydrocarbon exploration company - Enters into crude commodity swap agreement for 709,262 barrels of crude at an average of USD53.10 each. Agreement runs from February 2021 until January 2022. "The Company is hedging a portion of its production volumes, excluding volumes attributable to acquiring Sasol Ltd's interest in the Etame field, to protect cash flows which will be used to fund the 2021/2022 drilling program. The company will review its hedging positions following the closing of the Sasol acquisition which it expects will occur in February," Vaalco says.
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Base Resources Ltd - Australia-based mineral sands producer and developer - Reports quarter-on-quarter output hikes. In quarter ended December, ilmenite output up 19% quarter-on-quarter to 78,500 tonnes, rutile up 17% to 18,171 tonnes and zircon up 11% to 6,677 tonnes.
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Taseko Mines Ltd - Vancouver, Canada-headquartered mid-tier copper producer - Upsizes an issue of senior secured notes due 2026 by USD75 million to USD400 million. Notes will have 7.0% annual interest rate.
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Europa Oil & Gas Holdings PLC - UK, Ireland and Morocco-focused oil and gas explorer - Notes stress tests at Wressle oil field. Says Wressle will be "highly profitable" at oil prices of around USD50 a barrel.
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Adriatic Metals PLC - developing Vares silver project in Bosnia & Herzegovina - Receives Veovaca exploitation consent from Bosnia & Herzegovina's Federal Ministry for Energy, Mining & Industry. "The receipt of the permit initiates the formal exploitation period for the project, which under the terms of the concession agreement is up to 30 years," Adriatic says.
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Reabold Resources PLC - London-based investor in upstream oil and gas projects - Says it has raised GBP7.5 million via a share placing and subscription. The fundraise was completed at a price of 0.55p per share, a 2.8% premium to Wednesday's closing price. "We are extremely happy to secure the funding required to progress activity across our asset base, including further drilling and testing at West Newton, adding value across the wider PEDL 183 licence, and providing available funding to move the Victory gas development towards FDP in 2021. We look forward to providing updates to the market on these workstreams in due course," says Reabold Co-Chief Executive Stephen Williams.
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Riverstone Energy Ltd - energy industry-focused investor - Says investment manager RIGL Holdings LP announces agreement for Riverstone Energy to invest USD10 million in FreeWire Technologies Inc, a provider of battery-integrated DC fast chargers.
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Catena Group PLC - venture capital firm - Says 2020 pretax loss of GBP492,000, widened from GBP218,000, was in line with internal forecasts. Says 2020 revenue fell 48% to GBP883,000 from GBP1.7 million. "The board are satisfied with this result given the financial impact of the Covid-19 pandemic on the group's school sports coaching business," Catena adds. Notes it has three months to exercise option of buying more shares in investee Insight Capital Partners Ltd. If option is exercised, it will boost stake to 31% from 30% currently.
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Unicorn AIM VCT PLC - venture capital trust investing in AIM-listed companies - Launches offer to raise GBP15 million through subscription of 15.0 million shares.
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Irish Residential Properties REIT PLC - real estate investment trust - Completes purchase of 146 residential units for EUR60 million from Flynn & O'Flaherty Construction. Units are located in the Phoenix Park Racecourse, Castleknock, Dublin.
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Yew Grove REIT PLC - Irish real estate investment trust - Evaluating "pipeline of accretive investment opportunities" and is considering range of funding options, including equity issue under share issuance programme which expires in July.
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Picton Property Income Ltd - property investor - EPRA net asset value per share climbs 3.0% quarter-on-quarter to 95.5 pence on December 31, from 92.7p. Portfolio value rose 2.7% on like-for-like basis and adds that 87% of rent due in December collected, compared to 95% in both September and June and 90% in March. "In respect of the remaining rent outstanding, ongoing discussions and active management opportunities are expected to further improve either the income or capital position of the portfolio," Picton says. Ups quarterly payout to 0.8p from 0.7p.
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M&G Credit Income Investment Trust PLC - debt investment firm - Declares 1.95 pence per share interim payout. Notes this payout, in addition to the previous three, represents an annualised divided of LIBOR plus 4% for 2020. "The board believes that it should pay dividends from income and prior capital gains (including accumulated capital gains from previous years). It therefore proposes to continue hereafter with three, level quarterly interim dividends in respect of each financial year plus a variable, fourth interim dividend to be determined after each year end," M&G Credit adds. Notes fourth variable payout will take into account net income and capital gains.
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Tern PLC - internet of things-focused investor - Says portfolio company Wyld Networks Ltd raises GBP750,000, including Tern investment of GBP150,000.
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Transense Technologies PLC - specialist sensor systems developer - Notes near completion of capital reduction, first announced in November. Transense said at the time: "The purpose of the capital reduction is to create distributable reserves."
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HeiQ PLC - textiles technology firm - Launches HeiQ Viroblock Permanent, an antiviral textile technology. "The launch of HeiQ Viroblock Permanent on this premium, sustainable fabric gives us further access to the USD10 billion antimicrobial fabric market and adds a new high margin royalty stream to our business," Chief Executive Officer Carlo Centonze says
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Proton Motor Power Systems PLC - Munich, Germany-based fuel cells company - Says Falih Nahab requests to convert part of interest of loan into 42.0 million Proton shares at two pence each, GBP840,000 in total.
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Sopheon PLC - enterprise software provider - Lands deal alongside partner Prodex Systems with food and agriculture business JR Simplot Co. "Sopheon and Prodex will collaborate to deploy Sopheon's Accolade platform at Simplot, beginning with its Simplot Australia division. The goal of Simplot's deployment is to reduce innovation risk and increase the likelihood of new product successes," Sopheon says.
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Braemar Shipping Services PLC - London-based provider of technical expertise and professional marine and energy services - Completes sale of 9.6 million shares in AqualisBraemar LOC ASA, netting GBP6.0 million. Following sales, it holds 9.6 million shares in AqualisBraemar, a 10% stake.
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Associated British Engineering PLC - Cambridge-headquartered engineering services firm - Working on finalising accounts for year to September 30 within extended deadline afforded to firms affected by Covid-19 lockdowns. Company adds: "The board is continuing to consider all possibilities for expanding its trading activities and lift the suspension of its listing."
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Guild Esports PLC - UK-based owner and developer of esports teams - Signs second post-float sponsorship deal. Pens agreement with HyperX, "a leading gaming peripherals brand of Kingston Technology Company Inc". Says contract value is confidential.
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Knights Group Holdings PLC - legal and professional services firm - Says Chief Executive Officer David Beech and Chair Bal Johal plan to sell 15.7 million and 300,000 shares in Knights, respectively. Notes the 16.0 million shares are 19% of company's issued capital. "The final number of placing shares to be placed, and the price at which the placing shares are to be placed, will be agreed by Numis and the selling shareholders at the close of the bookbuild process," Knights adds.
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Plutus PowerGen PLC - AIM-listed cash shell - Enters into convertible subscription agreements to raise GBP200,000 through convertible loan notes issue. "The company is raising the funds to assist the company in covering the additional costs of any potential future reverse takeover transaction and for general working capital purposes," Plutus says.
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Ridgecrest PLC - AIM-listed cash shell - Notes its shares have been suspended from trading.
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By Eric Cunha; ericcunha@alliancenews.com
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