(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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Intercede Group PLC - cybersecurity software firm with offices in the US state of Virginia and in Leicestershire, England - Wins bid to supply a new customer, an unnamed independent US federal agency. The contract is for the supply of Intercede's MyID credential management software to deploy digital identities to mobile devices in the form of derived PIV credentials, compliant with US government security. "The solution leverages Intercede's technology partnership with Microsoft Corp, by delivering PKI credentials into Microsoft Intune managed smartphones enabling sensitive data protection and secure access to agency systems," company says. Purchase order received for an initial 20,000 devices for USD500,000.
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McKay Securities PLC - commercial property investment - Exchanges contracts to sell the freehold interest of Great Brighams Mead, an office building in Reading town centre, to residential property developer King's Oak for GBP19.0 million. Notes this reflects a premium of 21% to September 30 book value. Sale is conditional on delivering vacant possession and is anticipated in April. Great Brighams Mead was developed by company in 2000 and has been let since then on a 21 year lease which expires on March 24. The current rent passing is GBP2.3 million per annum.
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Beeks Financial Cloud Group PLC - Glasgow-based provider of connectivity for financial markets - Signs USD2.2 million contract over four years for its recently launched Proximity Cloud product with an unnamed foreign exchange broker. "This is another significant contract for the offering which was launched in August last year and is a new customer for Beeks, adding to the company's growing number of tier 1 financial services customers," it says. Says annual revenue, for financial year ending June 30, will be ahead of current market expectations. Says additional revenue will be reinvested in the further development of the Proximity Cloud offer, to "capitalise on its growing sales pipeline" and significant market opportunity.
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Downing Renewables & Infrastructure Trust PLC - London-based renewable energy investor - Completes acquisition of operational 46 megawatt onshore wind project located in north east Sweden for a total consideration of about EUR23.8 million. Notes deal was funded on an ungeared basis using cash resources. Says wind farm has been operational since 2011. Asset is expected to generate about 108 gigawatt hours of electricity per annum. Also notes its subsidiary, Downing Hydro AB, completes acquisitions of the two hydropower portfolios from ASI Kraft AB and AB Edsbyn Elverk for EUR25 million, bringing the total number of Swedish hydropower plants owned by DHAB to 17.
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Sabien Technology Group PLC - Watford-based boiler efficiency products - Signs memorandum of understanding with Irish Renewable Fuels Ltd for proposed reprocessing facility utilising the City Oil Field plastic-to-oil technology to be established in the Republic of Ireland. Executive Chair Richard Parris says: "The site proposed by IRF is within an establish industrial complex that already has some key environment permits in place. IRF inform me that they are well placed to secure feedstock supply in sufficient volume to power multiple COF lines. I am excited that this proposed development has the potential to create the first operating COF facility in Europe. This will provide early agency commission revenues to Sabien."
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Totally PLC - Derby-based healthcare service provider that spans public and private sectors - Urgent Care unit wins two-year contract extension worth about GBP2.6 million for provision of GP services to NHS North West London CCG. As part of the contract, Vocare Ltd, which is part of company's Urgent Care unit, will provide GP-led primary care services for initial accommodation centre service users located within 34 hotels in the London borough of Hillingdon and neighbouring boroughs. Contract was initially awarded in February 2020.
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LungLife AI Inc - Thousand Oaks, California-based developer of clinical diagnostic solutions for lung cancer enhanced by artificial intelligence - Enrols first patient in clinical study to evaluate the LungLB test in subjects presenting with indeterminate lung nodules. "The multi-centre clinical study will be used to validate the LungLB test performance, looking to repeat the high performance already observed in the pilot study completed earlier in the year. The study will enrol 425 participants across multiple US sites," company says. On track to enrol patients over the next 14 months, with study completion expected in the first quarter of 2023 and in-line with expectations.
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Allergy Therapeutics PLC - Sussex-based biotechnology firm focused on allergy vaccines - Signs new GBP10 million revolving credit facility, replacing previous GBP7 million overdraft facility. Facility is for a three-year period with the ability to extend annually for a further two years. New loan is intended to provide additional security to company's current credit facilities.
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Longboat Energy PLC - North Sea-focused exploration firm - Says stacked Ginny-Hermine exploration prospects in licence PL1060, which the company holds a 9% stake, failed to encounter hydrocarbons and will now be plugged and abandoned. Exploration well 6407/9-13 operated by Equinor Energy AS, company notes, was targeting both the Upper Jurassic Ginny and the Middle Jurassic Hermine prospects located between the Galtvort discovery and Hasselmus field development. The well was drilled to a vertical depth of 2,319 metres below sea level and encountered the target reservoirs water wet. Chief Executive Helge Hammer says: "Although this was the least impactful target in our portfolio, we are disappointed that the Ginny and Hermine prospects were not successful, particularly given their location between discoveries of similar age and structure."
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Aminex PLC - Tanzania focused gas project developer - Notes progress is being made on the seismic programme at 25%-owned Ruvuma production sharing agreement in Tanzania. Notes seismic camp fully constructed, and the contractor is completing the mobilisation of equipment to site, which is expected to be completed by mid-February. "Following the award of the seismic contract in fourth quarter of 2021 and the ongoing mobilisation of the equipment to site, the joint venture expects to commence shooting seismic imminently. This will provide the high-quality 3D definition of the subsurface in preparation for the appraisal well to be drilled in third quarter this year," Executive Chair Charlie Santos says.
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Arkle Resources PLC - Ireland-based gold and zinc explorer - Starts drilling at Stonepark group of licences in Limerick, Ireland. Stonepark project is a joint venture with Eleven Resources Corp, which holds a 76.6% stake and Arkle the remaining 23.4%. First hole of a six-hole programme totalling 2,300 metres began Tuesday. The hole at Carrickittle North has a target depth of 750 metres and is a 250 metre step out from previous drilling. The target is in the unexplored southern margin of the Limerick Volcanic Complex which, it is believed has the potential to target zinc mineralisation similar to the large nearby Glencore Pallas Green zinc-lead deposit.
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By Paul McGowan; paulmcgowan@alliancenews.com
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