TRADING UPDATES: Parsley Box's new meal range; Macau Property NAV down

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on ...

Alliance News 23 July, 2021 | 7:20PM
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(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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Parsley Box Group PLC - Edinburgh, Scotland-based cupboard stored meals firm - Launches a premium range of chilled ready meals for over 60s. The company is expanding its repertoire to further appeal to the tastes of its Baby Boomer base. The new chilled range, branded the Chef's Table by Parsley Box, consists of eight meals including dishes such as beef lasagne and fish pie. These new larger additions to its menu have a longer shelf life compared with other chilled ready meals and can be kept in the freezer for up to a month.

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Macau Property Opportunities Fund Ltd - Guernsey-based investment firm - Notes that residential property market improved in the first half of 2021, but the luxury end of the residential sector continued to lag the market overall in both sales and leasing. During the period, Macau agreed to sell the final standard unit at the Fountainside for HKD11.8 million, about USD1.5 million, with expected completion by November. Adjusted net asset value per share was USD130.1 million on June 30, down 1.6% from the end of 2020. Portfolio valuation slipped by 0.3% to USD264.1 million.

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Myanmar Strategic Holdings Ltd - Singapore-based consulting company - Says revenue for the six-months ended March 31 almost tripled year-on-year to USD7.6 million. The increase in revenue is due to the consolidation of Wall Street English Vietnam since the completion of its acquisition in mid-July 2020, and the growth of the Wall Street English Myanmar owned business following the review and amendment of the existing management agreements. Net loss for the half-year, meanwhile, was USD2.9 million, widened from USD1.6 million the year ago, primarily due to the continued impact of Covid-19 on the Myanmar and Vietnam operations, the disruption linked to the military takeover initiated in Myanmar on February 1, and the increase in amortisation of right-of-use assets arising from the consolidation of the WSE Vietnam leases and four new leases entered in respect of the WSE Myanmar language centres.

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Riverstone Credit Opportunities Income PLC - investment company - As of June 30, net asset value per share, including net revenue for the quarter, was USD1.03. Riverstone says the second quarter continued to see an uptick in oil prices and strengething in supply and demand fundamentals in the market. The investment manager believes the focus on infrastructure, infrastructure services and energy transition investment opportunities will provide downside protection and allow the portfolio to continue to generate positive returns and income for shareholders.

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Town Centre Securities PLC - Leeds, Manchester, Glasgow and London based property investment and car parking operator - Says collected and deferred rent receipts for the quarter to June 30 stand at 96% of the total due. Town Centre Securities billed a total of GBP4.9 million of rent and service charge, and had successfully collected GBP4.3 million or 88%. A further GBP400,000 or 8% has been agreed to be deferred. This totals an agreed collection of GBP4.7 million or 96%. The company says, with the gradual easing of lockdown, collection levels continue to improve on a quarter-by-quarter basis and it expects to see this improvement continue.

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JPEL Private Equity Ltd - Guernsey-based investment firm - Reports realisation of its investment in the company's largest portfolio company Swania International SA. As part of the transaction, JPEL expects to receive gross proceeds of UDS78 million, representing 70% of JPEL's overall market capitalisation as of July 22 and a 19% uplift to the current carrying value at May 31. As at the end of May, Swania represented 48% of JPEL's private equity portfolio value. Upon receipt of the net proceeds relating to the sale of Swania, the company says it anticipates conducting its ninth mandatory redemption to shareholders.

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Unicorn AIM VCT PLC - London-based investment firm - Says its portfolio of investments performed reasonably well with net asset value per share continuing to increase steadily over the quarter to June 30. NAV was 247.6 pence per share, which represents an increase of 6.7% on the closing NAV of 232.1p per share as at March 31. IN the three months to the end of June, the company bought back 592,273 of its own shares for cancellation, at a price of 210p per share. Unicorn AIM VCT will pay a dividend of 3.0p per share for the quarter.

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Sativa Wellness Group Inc - Vancouver, Canada-based therapeutic life science company - Announces new business strategy following a strong start to the year. The company plans a change in leadership, with the founder returning as chair and a strong top team appointed. The Wellness business will be aligned in three clear divisions as CBD products, Cannabinoid testing and Clinic Testing Services, each with a clear business head. Turning to financials, Sativa says the first quarter of 2021 saw the best quarterly turnover to date at GBP1.4 million. The second quarter produced even stronger revenue results. The business is operating on a positive cash flow, and is maintaining a healthy cash position to further its acquisition strategy.

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Fusion Antibodies PLC - Belfast, Northern Ireland-based antibodies developer - Achieves its first research milestone payment as part of its ongoing collaboration with a major client. This success milestone payment, for the value of GBP150,000, has been received as a result of a humanised antibody project that the company has provided services to, and was successfully commercialised by the client by way of transfer of rights for value to a third party. The details of the client company concerned are confidential and no further information can be disclosed.

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Tirupati Graphite PLC - London-based graphite mining and processing firm - Commissions stage 1 of its Tirupati Graphene & Mintech Research Centre, which is focused on graphene manufacturing and applications development, advanced materials development and mineral processing technology development. The company says current facilities are capable of manufacturing up to a kilogram per day of graphene oxide, reduced graphene oxide and aluminium graphene composite materials using the zero chemical process developed by the company.

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Cora Gold Ltd - West African focused gold company - Reports the eighth set of drill results from its largest ever drilling campaign at its Sanankoro gold project in Southern Mali. The company is focussed on targeting resource growth as well as infill drilling to convert existing inferred resources to indicated. The results to date have been "encouraging" with good widths and high-grade results in generally shallow oxide ore. "We have now drilled over 27,000m in this programme and are now expecting to drill in excess of the originally planned 35,000m as we follow up some of the excellent results we have been receiving," says Chief Executive Bert Monro.

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Nostrum Oil & Gas PLC - oil & gas exploration and production company operating in Kazakhstan - Says its wholly-owned subsidiary Zhaikmunai LLP has agreements with Ural Oil & Gas LLP, pursuant to which Zhaikmunai will process gas and liquid gas-condensate hydrocarbons from Ural's field. Zhaikmunai and Ural have agreed to extend the deadline under the agreements for Ural's first delivery of gas and liquid gas-condensate hydrocarbons to Zhaikmunai by six months, from April 2023 to the end of October 2023. The extension was requested by Ural as a result of the Covid-19 pandemic.

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Bion PLC - Malaysia-based electric services firm - Notes a fire occurred at the neighbouring palm oil mill to the company's biogas power plant located in Malpom, Penang. The company's plant has not been damaged, but the significant impact of the fire on the mill will prevent it from providing Bion's plant with the required feedstock to enable power generation. Consequently, the company has been required to shut down operations at the plant until further notice.

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Bridgepoint Group PLC - asset fund management firm - Says JP Morgan Securities PLC, as stabilising manager, has given notice to exercise the over-allotment option granted by Burgundy A1 Nominees Ltd, Burgundy A2 Nominees Ltd, Burgundy A3 Nominees Ltd, Burgundy A4 Nominees Ltd, Burgundy A5 Nominees Ltd and Dyal Capital Partners IV C LP, in respect of 33.8 million shares in Bridgepoint, representing 15% of the initial size of its initial public offering. The over-allotment shares will be sold at the offer price of 350 pence per share. Bridgepoint did not participate in the over-allotment option. Giving effect to the exercise of the over-allotment option, the final total size of the IPO is GBP907 million.

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EnQuest PLC - London-based petroleum exploration and production company - Says the open offer closed for acceptances on Thursday. The company has received valid acceptances from shareholders in respect of 56.4 million new shares, representing 59% of the open offer shares. The open offer was launched on June 30 and intended to raise GBP36.1 million via a firm placing of 94.9 million shares and GBP18.1 million through placing & open offer of 95.3 million shares. The shares were offered at 19p each.

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Bank of Cyprus Holdings PLC - Strovolos, Cyprus-based financial services company - Agrees with the Cyprus Union of Bank Employees for the renewal of the collective agreement in respect of 2021 and 2022. The bank says it is making "good" progress on implementing a number of initiatives to improve the efficiency of its operating model, enabled by digital transformation. In this context, the bank has agreed upon certain changes to the collective agreement, including the introduction of a new pay grading structure. The renewal of the collective agreement is expected to increase staff costs for 2021 and 2022 by 3% to 4% per annum, in line with the impact of renewals in previous years. However, when taking into consideration the impact from the various efficiency initiatives, the company's medium-term guidance, which includes maintaining annual total operating expenses below EUR350 million, remains unchanged.

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Amiad Water Systems Ltd - Israel-based water filters and filtration systems supplier - Expects to receive approval for the TASE listing from the Israeli Security Authority and from the Tel Aviv Stock Exchange in the coming weeks and anticipates that the TASE listing will occur in the second half of August. The proposed AIM cancellation will be on August 26.

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All Active Asset Capital Ltd - Thailand-based investor - Remains committed to continuing conversations and engaging further with Audioboom Group PLC - Jersey-based podcasssting company - to expanding on the merits of its possible offer and to seeking a recommendation. It notes shareholders representing over a quarter of Audioboom's equity have already given their support to the GBP12 per share possible offer, being 12.5 new All Active Asset shares and 200p in cash per Audioboom share.

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GYG PLC - Spanish superyacht company - Says the deadline for either a takeover offer or no offer announcement from Harwood Capital LLP has been extended for the fourth time for 28 calendar days. GYG's second largest shareholder was in the preliminary stages of evaluating a possible offer for GYG since April 9. The put-up or shut-up deadline was originally May 7. The deadline has subsequently been extended three times and, on the most recent occasion, to July 23. Harwood Capital now has until August 20 to make an offer for GYG or announce that it does not intend to make an offer for the company.

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Watchstone Group PLC - Beckenham, England-based insurer - Says the mandatory offer by Polygon Global Partners LLP of 34p per share in cash does not reflect an adequate premium for control and significantly undervalues Watchstone and its prospects. Accordingly, the directors recommend that shareholders should reject the offer. The offer values the entire share capital of Watchstone at GBP15.7 million and represents a discount of 16% to the closing price of 40.5 pence per share on July 15, being the last day prior to posting of the offer document.

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PROACTIS Holdings PLC - Aberdeen, Scotland-based software company - Says its shares will stop trading in London's AIM on Tuesday as its takeover by Cafe Bidco Ltd was sanctioned by the High Court.

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Globalworth Real Estate Investments Ltd - Guernsey-based real estate investment company - Says takeover offer from Zakiono Enterprises Ltd closes for acceptances, with a total of 20.5 million Globalworth shares sold, representing 9.2% of the issued share capital of Globalworth. So far as Zakiono is aware, none of these acceptances have been received from persons acting in concert with Zakiono. When adding Zakiono, CPI Property Group SA and Aroundtown SA shareholdings, representing 51%, Zakiono owned or had received valid acceptances in respect of 134.3 million Globalworth shares, representing 61% of the issued share capital of Globalworth.

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Trans-Siberian Gold PLC - Cambridge, England-based miner - Says Horvik Ltd had received valid acceptances for its takeover offer in respect of a total of 44.5 million Trans-Siberian shares, representing 94% of the Trans-Siberian shares to which the offer relates. Horvik will exercise its rights to acquire compulsorily the remaining Trans-Siberian shares in respect of which the offer has not been accepted. As a result, Trans-Siberian shares will stop trading in London on August 9.

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Sigma Capital Group PLC - Edinburgh, Scotland-based property company - Says majority of its independent shareholders voted in favour of the takeover by Six Bidco Ltd. The acquisition remains subject to the sanction by the court at the court hearing, which is expected to take place on August 5.

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Telit Communications PLC - London-based internet of things company - Says the court meeting and the general meeting have been adjourned and reconvened to take place on July 28. So far, shareholders holding 48.2 million Telit shares agreed to vote in favour of Telit acquisition by funds managed by DBAY. It is about 36% of the issued share capital of Telit and 49% of the scheme shares eligible to vote.

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By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Globalworth Real Estate Investments Ord 6.08 EUR 0.00 -
Riverstone Credit Opportunities Income 0.87 USD 0.00 -
Audioboom Group PLC 1,055.00 GBX -0.24 -
Unicorn AIM VCT Ord 213.00 GBX 0.00 -
Cora Gold Ltd Ordinary Shares 14.00 GBX 0.36 -
BiON PLC 1.65 GBX 0.00 -
Fusion Antibodies PLC Ordinary Shares 127.50 GBX 0.00 -
Macau Property Opportunities Ord 51.50 GBX -0.96 -
Myanmar Strategic Holdings ltd 10.75 USD 19.44 -
Bridgepoint Group PLC When Issue 471.50 GBX 0.32 -
GYG PLC 59.00 GBX 0.00 -
Parsley Box Group PLC Ordinary Shares 51.00 GBX -1.92 -
Bank of Cyprus Holdings PLC 84.00 GBX 0.24 -
Amiad Water Systems Ltd
EnQuest PLC 25.00 GBX 0.20 -
Nostrum Oil & Gas PLC 9.40 GBX 2.51 -
Trans-Siberian Gold PLC
PROACTIS Holdings PLC
Telit Communications PLC
Sigma Capital Group PLC
Tirupati Graphite PLC Ordinary Shares 88.00 GBX -2.22 -
JPEL Private Equity Ord 1.56 USD 0.00 -
Town Centre Securities PLC 125.00 GBX 0.60 -
Watchstone Group PLC 38.00 -
Aroundtown SA 6.03 EUR -0.13 -
Sativa Wellness Group Inc 0.06 CAD 0.00 -

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