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Pin to quick picksUnivision Share News (UVEL)

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TRADING UPDATES: Heavitree profit soars; Riverstone net assets rise

Thu, 16th Feb 2023 21:35

(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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UniVision Engineering Ltd - Hong Kong-based CCTV supplier - Says that a winding-up petition by Synnex Technology International HK Ltd was dismissed by the High Court in Hong Kong on February 13. In December, the company also said it had received a winding-up petition brought by an equipment supplier Synnex Technology International HK Ltd, for the contract with MTR Corpor Ltd in the High Court in Hong Kong. Synnex alleges that it is owed around GBP1.4 million by Univision.

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Windward Ltd - Liverpool, England-based maritime predictive intelligence company - Launches a new estimated time of arrival Insights AI capability to provide customers and partners with additional insights into supply chain delays. "The new AI-based iteration of visibility is actionable, and Reasons for Delay is Windward's next step to provide stakeholders with the tools to increase efficiency and decrease cost when it comes to their shipping operations," Chief Executive Ami Daniel says.

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San Leon Energy PLC - oil and gas production, development and exploration in Nigeria - Says that its investee company Decklar Petroleum Ltd received payment for crude oil sale from the Oza oil field in Nigeria, under its contract with Edo Refinery & Petrochemicals Co Ltd. Holds an 11% stake in Decklar. Says that trucking of crude oil continued from the Oza Field to the ERPC. Adds that an additional delivery of 5,000 barrels of crude oil to ERPC was completed last week. Adds that Decklar is "at an advanced stage" of executing a new 150,000 barrels of crude oil sale and purchase deal with ERPC.

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JPMorgan Global Growth & Income PLC - Investment firm - Completes the realignment of its C share portfolio. Says that the C shares will be converted to ordinary shares on a NAV-for-NAV basis, following the completion of the portfolio realignment.

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Various Eateries PLC - London-based chain of restaurants, clubhouses and hotels such as Coppa Club - Confirms that its wholly owned subsidiary Various Eateries Trading Ltd entered into an agreement to reissue its second deep discounted bond with Friends Provident International Ltd. Says the new deep-discounted bond has a subscription amount of GBP10.0 million and the nominal value is GBP10.8 million. Adds that the bond is secured over the business and assets of the company.

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Heavitree Brewery PLC - tenanted and leased pub company based in Exeter, Devon - Says that pretax profit in the year to October 31 doubled to GBP2.3 million from GBP1.1 million a year prior. Revenue rises 58% to GBP7.3 million from GBP4.6 million. Attributes this to a "satisfactory performance" in the second half, following a "steady performance" reported at the half-year. Reinstates a final dividend at a rate of 3.5p per share. Says its programme to sell non-core assets to reduce the level of borrowing will continue and other sites will be considered when they become available.

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Riverstone Credit Opportunities Income PLC - energy infrastructure and energy-transition credit investor - Net asset value per share as at December 31 stands at 108.45 US cents, up 6.4% from 101.92 cents on the same date a year prior. Records a NAV total return was 14.5%, versus the AIC Debt - Direct Lending peer group average of 8.2%. Reports that earnings per share amounted to 14.08 cents per share, tripled from 4.86 cents per share. Says this was driven by high levels of income from its fully invested portfolio. Declares a dividend of 2.0 cents per share for its fourth quarter.

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Challenger Energy Group PLC - Caribbean and Atlantic-margin-focused oil and gas company - Plans to rapidly progress its Uruguay asset 2023. Expects to complete its work commitment for the initial 4-year exploration period early in the second quarter of 2023 in Uruguay. Considers its option to expand activities in Trinidad and Tobago, including new licence applications, mergers and acquisitions, and joint programs with neighbouring operators. Secures an extension to the initial exploration term of the Weg Naar Zee production sharing contract in Suriname. Continues its discussions with the government of Bahamas for the extension of its licences into a third, three-year exploration period. Cash balance as at the start of 2023 were roughly USD2.7 million, the company says.

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Live Co Group PLC - Surrey, England-based live events, entertainment and sports events company - Says that its Chief Financial Officer John Millar left the company, due to "personal reasons" and will not now be appointed as a director. Adds that he will continue to assist the group on a part-time basis. "We thank John for all his hard work and wish him all the best in the future," Chair David Ciclitira comments.

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Creo Medical Group PLC - medical device company - Raises GBP28.5 million through a placing and subscription for 142.5 million ordinary shares at an issue price of 20 pence. Says Cenkos and Numis acted as joint bookrunners. Expects admission of the shares to take place on March 9 at GMT0800. Plans to use the proceeds to maintain momentum in the business and provide it with a pathway to a cash flow breakeven.

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Benchmark Holdings PLC - Sheffield, England-based aquaculture genetics, health and nutrition company - Says that 55% of its shareholders at its annual general meeting on Thursday voted against resolution 15 for the disapplication of pre-emption rights. Says that 56% of its shareholders voted against resolution 16 for additional disapplication of pre-emption rights, regarding acquisitions and specified capital investments. Confirms that it will consult and continue to engage with the relevant shareholders to understand and discuss their concerns for these resolutions.

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Maven Income & Growth VCT 3 PLC and Maven Income & Growth VCT 4 - venture capital trusts - Will utilise over-allotment facility as part of fundraise as "approaching" initial target of GBP5 million. Earlier in February, the duo said the over-allotment facility was worth GBP5 million.

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By Abby Amoakuh, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
16 Oct 2023 16:44

Hong Kong High Court orders UniVision Engineering to be wound up

(Alliance News) - UniVision Engineering Ltd on Monday said it has been ordered to be wound up by the High Court in Hong Kong.

Read more
11 Oct 2023 18:10

IN BRIEF: UniVision says winding-up petition adjourned again

UniVision Engineering Ltd - Hong Kong-based company that supplies, designs, installs and maintains closed-circuit television and surveillance systems, and also sells security-related products - Announces that the winding up petition brought against it by one of its sub-contractors, KML Engineering Ltd, first announced on July 28, has been adjourned until October 16. The hearing had already been adjourned to September 27, and then to today, by the High Court in Hong Kong.

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2 Oct 2023 20:41

EARNINGS AND TRADING: Clean Invest reports interim loss and no revenue

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

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27 Sep 2023 19:43

TRADING UPDATES: Inland Homes appoints administrators; EDX buys Hutano

(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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14 Sep 2023 12:01

UniVision Engineering receives wind up petition from E-Star

(Alliance News) - UniVision Engineering Ltd on Thursday said it intends to defend itself against a wind up petition brought about by one of its subcontractors, E-Star Engineering Co.

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29 Aug 2023 14:07

UniVision Engineering receives GBP1.2 million wind up petition

(Alliance News) - UniVision Engineering Ltd on Tuesday said it has received a wind up petition from a supplier for outstanding debt of HKD11.5 million, about GBP1.2 million.

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28 Jul 2023 16:34

TRADING UPDATES: Jardine Matheson net assets rise, Oberon loss widens

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

Read more
6 Jul 2023 14:58

IN BRIEF: UniVision Engineering unable to explain jump in share price

UniVision Engineering Ltd - Hong Kong-based company that supplies, designs, installs and maintains closed-circuit television and surveillance systems, and also sells security-related products - Says it is not aware of any material commercial or operational reason for the significant increase in its share price, other than the recent restoration of trading on AIM after the publication of its half-year report on June 19.

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19 Jun 2023 11:48

IN BRIEF: UniVision swings to loss following MTR contract termination

Univision Engineering Ltd - Hong Kong-based CCTV supplier - Says it swings to pretax loss of GBP256,000 in the six months ended 30 September 2022, from a profit of GBP142,000 in the same period the year prior. Revenue falls to GBP653,000 from GBP5.0 million the prior year. The company says this was due to the termination of its major contract with MTR Corporation Ltd, which was effective from June 20. The company says it is considering a number of financing methods to improve its liquidity following the collapse of revenue; obtaining a loan facility of HKD12 million - around GBP1.2 million - and a potential investor providing a standby unconditional facility of HK20 million. The company declares no interim dividend.

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19 May 2023 19:26

IN BRIEF: UniVision Engineering belated results show swing to loss

UniVision Engineering Ltd - Hong Kong-based CCTV supplier - Reports delayed final results for the year ended March 31, 2022. Says revenue fell by 64% to GBP3.9 million from GBP10.9 million the year prior mainly due to the expiry of several maintenance contracts and the delay of several project deliveries. Pretax loss totalled GBP10.3 million, swinging from a pretax profit of GBP563,000 before. Company is considering and negotiating a number of financing measures to improve its liquidity and financial position. After reviewing cash flow projections prepared by management, company feels it has sufficient working capital to finance its operations and meet its financial obligations over the next 12 months. Continues to negotiate with MTR Corp over termination of its contract for alleged breach of contract which company disputes. Explains the termination of the contract would represent a significant loss of future revenue and profit for the company. However, says company would be able to re-deploy resources from this contract to other projects to mitigate this reduction. Calls for meetings with MTR Corp to discuss outstanding amounts and to quantify unbilled work.

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13 Dec 2022 12:33

IN BRIEF: UniVision's CFO leaves board; asked to pay Synnex

UniVision Engineering Ltd - Hong Kong-based CCTV supplier - announces that Director YIP Kwok Fai, knows as Danny Yip, has resigned from the board with effect tomorrow. The company says it is looking to appoint a replacement, and in the meantime Yip will remain at the company as chief financial officer.

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18 Oct 2022 17:07

TRADING UPDATES: Chaarat enters takeover discussions with Shanta Gold

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

Read more
12 Oct 2022 14:39

TRADING UPDATES: Angus Energy exceeds monthly production targets

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

Read more
4 Oct 2022 21:56

IN BRIEF: UniVision Engineering suspended from trading on AIM

UniVision Engineering Ltd - Hong Kong-based CCTV and surveillance system company - On Monday, temporarily suspended from trading on AIM pending the publication of the company's annual audited accounts.

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