(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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DeepVerge PLC – Dublin-based environmental and life science group – Reports that its unaudited revenue for 2022 was roughly GBP17.2 million, slightly below market expectations. Notes that this represents a “significant” year-on-year increase from GBP9.3 million. Explains that it moved progressively from small and medium ticket equipment sales to larger GBP1 million data and AI focused sales through partners. Notes that it moved its Labskin business deeper into data and AI with the creation of Skin Trust Club.
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Mobile Tornado Group PLC – Harrogate, England-based communications company – Says that its CEO Avi Tooba has stepped down. Notes that he will remain involved with the business in a “non-board capacity, and continue to advise the company.” Says that the current Executive Chair Jeremy Fenn will assume the role of acting CEO with immediate effect.
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Westmount Energy Ltd – Jersey-headquartered investor in oil and gas industries – Plans to take part in the return of capital offering from Cataleya Energy Corp. It will reduce the number of outstanding common shares in CEC in issue by 16%. Says that prior to the return of capital transaction it held a total of 567,185 shares in CEC, representing roughly 5.3% of CEC shares. “We are very encouraged to see new investment into CEC reflecting confidence that a resumption of drilling on the Kaieteur Block will occur post the October 2023 elective nomination date. It is also heartening to see that this ROC transaction is being executed without tapping CEC’s existing cash balances, thereby allowing CEC to remain very well financed via cash and multiple well carries for future drilling activity,” Executive Chair Gerard Walsh comments.
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Frontier IP Group PLC – London-based intellectual property commercialization company – Appoints David Gladding as chief executive officer. Says that he is experienced in the software industry will help drive both the commercial and technical development of the company’s novel artificial intelligence-based metaheuristics algorithms. Furthermore, he has more than 30 years’ experience at senior levels in software and IT services companies.
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Alkemy Capital Investments PLC – London-based company focused on acquisitions in the mining and technology metals sectors – Notes that the Western Australian government’s Industrial Lands Panel allocated an area of roughly 43.7 hectares within the Boodarie Strategic Industrial area to its subsidiary Tees Valley Lithium Ltd. “We are delighted to announce that TVL has secured an allocation of land at the new Boodarie Strategic Industrial Area, alongside other global leaders in the green industrial sector, to facilitate the development of the Port Hedland LSM refinery,” Director Sam Quinn comments.
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Sondrel Holdings PLC – local semiconductor designer and supplier – Tapes out an application specific integrated circuits design for an unnamed provider of Edge AI Hardware Accelerator solutions. Confirms that it will proceed with the new product introduction and prototyping phases of the turnkey supply services being provided to the customer. “Passing this key milestone underpins Sondrel’s position as a leading ASIC supplier for advanced designs. The successful tapeout of this ASIC project is a great achievement for Sondrel and our team, with our focused business strategy and our track record of innovation excellence again delivering outstanding results for our customers,” comments CEO Graham Curren.
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Shield Therapeutics PLC – commercial stage pharmaceutical company – Notes that AOP Health International Management AG requested the conversion of a portion of the convertible shareholder loan facility between the company and AOP into 31.4 million shares. The conversion price is 6 pence per share. Says AOP will be allotted 31.4 million shares, representing 5.4% of the company’s share capital immediately following the conversion.
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Nostrum Oil & Gas PLC – Amsterdam-headquartered oil and gas company with operations in Kazakhstan – Receives a license from the UK Office of Financial Sanctions Implementation for the proposed restructuring of senior notes. “The approval of our license application is warmly welcomed by all of us at Nostrum and I am pleased that we are now able to continue to pursue the Restructuring and bring stability to our business. We also appreciate the continued support demonstrated by our stakeholders and we will provide further updates on the status of the Restructuring, and its implementation, in due course,” comments CEO Arfan Khan.
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Venture Life Group PLC – Berkshire, England-based self-care product manufacturer and distributor – Secures a range of license agreements for its internally developed mouth ulcer products with a long term and existing customer for “certain key EU and other markets.” The total license fee to be received is EUR1.4 million, it says. Signs a further two new exclusive long-term agreements in Canada and Vietnam. Signs a long-term distribution agreement for its Pomi-T food supplement in Peru. “The mouth ulcer market is not a target for our own brands, and value is better achieved for us by licensing this to an existing long term partner, which will sell it under their own brand. This transaction demonstrates the skillset of our team at Biokosmes to innovate and develop and our ability to exploit these internal capabilities,” CEO Jerry Randall comments.
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Touchstone Exploration Inc – Calgary, Canada-based upstream oil and gas company – Says that its indirectly owned Trinidadian subsidiary Primera Oil & Gas Ltd entered into an asset exchange agreement with Lease Operators Ltd. Under the agreement, it agrees to swap its 100% working interests in the Fyzabad, San Francique and Barrackpore producing blocks for the counterparty’s working interest in the Rio Claro, Balata East and Balata Deep blocks for no cash consideration. “The proposed exchange of assets further high-grades our portfolio as we focus on the Herrera turbidite fairway directly offsetting our Ortoire block in close proximity to our Cascadura discovery. With the technical data that we have reviewed on the three licenses, we have identified numerous drilling opportunities that can be incorporated into our infrastructure currently being constructed,” CEO & President Paul Baay comments.
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Cobra Resources PLC – South Australia-focused gold, rare earth, and iron-oxide-copper-gold explorer – Reports a maiden mineral resource estimate of 20.9 million tonnes of rare earth oxides at its Wudinna project in South Australia. Plans to advance the Wudinna project towards a feasibility evaluation. Says a drilling program of 5,000 meters to 10,000 meters is scheduled to start in March.
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By Abby Amoakuh, Alliance News reporter
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