(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Character Group PLC - Surrey, England-based toy, games and gifts manufacturer - Extends Peppa Pig licence deal with US toymaker Hasbro Inc. Deal allows Character "to continue the Group's current Peppa Pig wood products licence through to 31 December 2023 and to significantly extend the product range under that licence". "The new toy product categories to be added to this licence include basic plush, eco plush, feature plush, activity toys and a nursery product range," Character says. Also completes sale of freehold to its warehouse premises at Vernon Works, Lancashire for GBP3.5 million.
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Dekel Agri-Vision PLC - West Africa-focused agriculture company - Raises GBP3.5 million from oversubscribed fundraising. On Thursday, Dekel said placing funds 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".
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Kavango Resources PLC - mineral explorer with projects in Botswana - Says high resolution ground magnetic surveys of all target areas of Kalahari Suture zone project completed. "Final results from all the TDEM survey and ground magnetic 3D modelling expected in Q2," company adds.
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Jangada Mines PLC - mineral resource miner focused on Brazil - Notes announcement from ValOre Metals Corp, 18%-owned investee. ValOre says it has begun a follow-up rhodium assay programme of historical drill core samples at Pedra Branca platinum group metals project in Brazil. In addition, Jangada says it has invested in Fodere Titanium, a titanium dioxide and vanadium producer using waste materials. Jangada's has 3.6% stake in Fodere.
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Enquest PLC - London-based oil producer in UK and Malaysia - Says cash payment for GBP184.1 million 7% notes due 2023 not satisfied. Says cash payment to be satisfied by issue of new notes. "The additional notes will be issued by the company on February 15, 2021 and, upon listing, will be consolidated and form a single series with the existing notes in issue," Enquest says. Value of aggregate outstanding principal amount of the notes will rise to GBP190.5 million.
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Oracle Power PLC - natural resource and power project developer - Begins field-based exploration programme at Jundee East gold project, Australia. "Initial field-based exploration programme commenced to determine the most effective method to define targets within prospective structural/lithological settings within the project," Oracle adds.
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Contango Holdings PLC - natural resource development company focused on Zimbabwe and Mali - Says meeting with Binga District Council over Lubu coking coal project, Zimbabwe now scheduled for early February 2021. "This was originally expected to have taken place before the end of January 2021, however given the national lockdown, representatives are now expected within the next two weeks, in line with the proposed start-up timetable," Contango explains. "Contango expects to finalise its discussions with the proposed mining contractor imminently ahead of opening the two pits at Lubu in February 2021. This will be a significant milestone for Contango and will enable ongoing coking coal offtake discussions to be finalised."
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Aminex PLC - oil and gas explorer focused on Tanzania - Plans to reduce gross general and administrative costs by 30% from 2020 levels in 2021 before an extra 25% to 30% cut in 2022. Aminex adds: " By 2022, these efforts will reduce gross general and administrative expenditure (before one-off costs and exceptional items) to less than GBP1 million per annum, representing a 75% reduction from 2018 levels." Reducing number of directors to three from five. Says Robert Ambrose steps down as interim chief executive office with immediate effect. Charles Santos become executive chair. Jan Gunnar Opsal stepped down as non-executive director earlier this week, Aminex notes.
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KEFI Gold & Copper PLC - gold explorer in Ethiopia and Saudi Arabia - Updates on drilling of 34%-owned Hawiah project, Saudi Arabia. Says 16 holes totalling 7,836 metres drilled as part of 13,000 metre programme. "The drilling results to date show that the Hawiah deposit remains open at depth and to the south. The work programme has sought to quickly 'stretch' some of the extremities of the deposit and as such we are greatly encouraged to see returns of significant intercepts as drilling continues to demonstrate the size and scale of the Hawiah deposit," Executive Chair Harry Anagnostaras-Adams says.
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Tirupati Graphite PLC - graphite and graphene producer in Madagascar and India - Says Tirupati Graphene and Mintech Research Centre secures first commercial contract. To provide Optiva Resources Ltd with "mineral processing technology solutions" at Optiva's Marela project in Guinea. "Successful development of a process shall entitle the company to a 5% equity in ORL with an additional right to subscribe for an amount equal to 5% warrants," Tirupati says.
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Zenith Energy Ltd - independent oil & gas company with production, exploration and development assets in Africa and Italy - Completes coupon payments for 8% 2021 bonds. "We are pleased to be further enhancing our credibility as a debt issuer with a focus on the continental European and Asian markets, having now consistently paid all coupons for the aforementioned instruments since their respective issuances. This is a demonstration of our effective cashflow management which offers investors a fixed semi-annual return on their investment," Chief Executive Officer Andrea Cattaneo says.
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Xtract Resources PLC - diversified metals and minerals producer - Says hole BRDD-21-002, second of phase one drilling at Racecourse area of Bushranger copper-gold project, has continued to depth of 492.5 metres. "The current hole is a significant step-out of more than 300 metres from the previous Xtract hole and 200 metres from any historic hole," Executive Chair Colin Bird says.
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Uru Metals Ltd - exploration and development firm - Extends notice period for convertible loan note for a further 90 days from January 31. Says key terms of note remain same, including GBP0.85 conversion price.
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ADM Energy PLC - natural resources investor - Extends memorandum of understanding to enter partnership with Trafigura Pte Ltd. "ADM and Trafigura intend to create a strategic alliance that enables the development and financing of energy projects in Africa," ADM says.
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Baronsmead Second Venture Trust PLC - investment firm based in London - Issues 7.7 million shares at 84.40 pence as part of third allotment under GBP17.5 million offer.
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Baronsmead Venture Trust PLC - investment firm based in London - Issues 11.1 million shares at 81.30 pence each as part of third allotment under GBP17.5 million offer.
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Unicorn AIM VCT PLC - venture capital trust - Says net asset value per share at December 31 was 204.5 pence, up 15% from September 30's 178.6p. "UK equity indices also continued their recovery from the significant equity market correction experienced during March 2020, with the FTSE AIM All-Share Index generating a total return of 20.9%, while the FTSE All Share Index delivered a total return of 12.6% over the same period," Unicorn AIM says.
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Highbridge Tactical Credit Fund Ltd - credit investment fund - Says first quarterly redemption proceeds from Highbridge Tactical Credit Master Fund in relation to managed wind-down expected next week. Aims to distribute proceeds in February. Says further GBP964,968 received from Highbridge Multi-Strategy Master Fund. "The board has determined that it is not economically viable to make a distribution at this time, so will review the position when the next distribution is received," Highbridge Tactical Credit adds.
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FastForward Innovations Ltd - technology and life sciences sector focused investor - Raises GBP2.1 million from placing of 24.7 million shares at 8.5 pence each. Proceeds will be used to fund investments in "disruptive growth opportunities, in particular medical cannabis".
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St James House PLC - lottery and e-commerce company - Says period between December 23 and January 27 saw "steady performance" in payments division. Says GBP:EUR pair transactions volumes grew 7%. "Prepaid Cards have been stable in this period following the planned migration to a new service provider as part of the development of revamped prepaid services due for launch in the spring," St James adds. Says number of entries for Prize Provision Services Ltd lottery "remains steady" despite lockdown.
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Knights Group Holdings PLC - legal and professional services firm - Says Chief Executive Officer David Beech and Chair Bal Johal sold 15.7 million and 300,000 shares in Knights, respectively, at 390 pence each. Beech now holds 16.8 million shares, a 20% stake and Johal owns 210,000 shares, 0.3% of company.
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Avingtrans PLC - Cambridgeshire, England-based provider of systems and services for energy, medical and industrial sectors - Completes deal to secure majority stake in Australian medical technlogy and engineering firm Magnetica Ltd. "The combination will see Avingtrans' two medical equipment businesses, Scientific Magnetics (SciMag) and Tecmag, merge with Magnetica," Avingtrans says. "Nil consideration is initially payable by Magnetica or Avingtrans but following today's completion, Avingtrans will invest up to GBP3.2 million for new shares in Magnetica, at 15 cents per share, to fund new MRI product development and commercialisation activities," company adds.
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IQGeo Group PLC - Cambridge, England-based software company - Says nets "large contract" with a major telecommunications network operator serving more than 3.2 million customers in western Canada. Says order is worth GBP1.3 million and is for "perpetual software licences, associated implementation services, and annual maintenance and support". "The new customer will deploy the IQGeo Platform and Workflow Manager software to create a situational awareness and operations support solution designed to accelerate fibre rollout time-to-market and improve customer satisfaction," IQGeo adds.
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Catenae Innovation PLC - Newcastle-based digital media technology firm - Says a Fortune 500 US professional services and construction company is piloting Catenae's Covid-19 testing platform in its UK division. "Although the pilot is not expected to generate substantial revenues for the company, it endorses the company's Covid-19 testing proposition," Catenae adds.
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SpaceandPeople PLC - Marketing and promotions company based in Glasgow - Renewed and extended its banking facilities with Santander. Says a GBP1.0 million Coronavirus Business Interruption Loan replaces a GBP1.0 million revolving credit facility. "This loan is for a six-year duration, with no repayments or interest due in the first year, followed by repayments in years two to six with the final GBP500,000 repayable at the end of the sixth year. The RCF that this replaces was due to be repaid in October 2021," SpaceandPeople says.
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Intuitive Investments Group PLC - closed-end investment company focused on life sciences sector - Says investee BioQ Pharma Inc receives CE mark for OneDose ReadyfusOR Gen2 single-use medication dispenser.
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MyHealthChecked PLC - Cardiff-based healthcare company and fertility tracking firm - Raises GBP3.4 million from placing and subscription of 194.3 million shares at 1.75 pence each. "The funds raised will be used to extend the MyHealthChecked portfolio through new product development, while also strengthening and increasing the marketing effort to commercialise these products. We also intend to develop a smartphone app to capture data and improve engagement," Chief Executive Officer Penny McCormick comments.
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Angle PLC - Guildford-based liquid biopsy company - Says work by CANCER-ID consortium demonstrates "key advantages" of Angle's Parsortix system. According to research, "Parsortix system demonstrates high capture rate of CTCs irrespective of biomarker status or phenotype", Angle adds.
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Ovoca Bio PLC - Women's health-focused biopharmaceutical company - Says first patient enrolled for Phase II dose ranging study on BP-101, a potential treatment for premenopausal women with hypoactive sexual desire disorder, "a condition characterised by a distressing lack or loss of sexual desire". Ovoca adds: "This Phase II dose ranging study is being conducted in Australia and New Zealand and will investigate BP-101 administered daily at a range of doses, evaluating the effect of the drug on lack or loss of sexual desire experienced by participating patients."
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PureTech Health PLC - Boston, Massachusetts-based biotherapeutics company - Adds Bharatt Chowrira to board as executive director. Chowrira has served as PureTech's chief of business & strategy since March 2017 and joins board effective February 1.
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Shield Therapeutics PLC - Newcastle-based specialty pharmaceutical company - Pens loan deal with shareholder AOP Orphan International AG, which owns 11% of Shield, and board member Christian Schweiger, who has 3.5% stake. The duo will provide Shield with EUR4.0 million and CHF1.0 million, about GBP819,107, respectively. "In total these amount to approximately GBP4.4 million which, if drawn down in full, would extend the group's cash runway until around the end of 2021, a significant extension from the current cash runway which extends into Q2 2021," Shield adds.
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Hollywood Bowl Group PLC - ten-pin bowling operator - Notes sizeable opposition to directors' remuneration policy at annual general meeting. Motion passed though just under 48% of votes went against it. "The board understands that shareholders' primary concern was the decision to exercise discretion in allowing the vesting of the three-year long-term incentive plan awards granted in February 2018 for a pro-rated period," Hollywood adds. "Following the AGM, and in light of the voting outcome, the board will continue to engage with shareholders."
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By Eric Cunha; ericcunha@alliancenews.com
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