(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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SDX Energy PLC - Middle East and North Africa-focused exploration & production - Proposes delisting from AIM and re-registering as a private limited company. General meeting for vote on proposal is on December 31. Cites the "considerable cost and management time and the legal and regulatory burden" associated with the public listing, and "limited liquidity" in its ordinary shares, as well as market volatility. Adds that being unlisted would allow it more flexibility to enter deals with investors and suppliers; allow it to implement decisions more quickly; and give it more opportunities to raise equity and debt financing. Explains: "The majority of the potential investors the company has recently engaged with have expressed a preference to invest in the company if the ordinary shares were not traded on AIM."
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Celadon Pharmaceuticals PLC - London-based pharmaceutical company, which is focused on cannabis-based medicines - Receives balance of GBP150,000 due from subscriber of shares. "We are grateful to the subscriber, and to our other shareholders, for their ongoing support. As we approach year end, I would like to thank the group's employees for their continued hard work to improve the quality of patient's lives through improving the yields on our harvests, furthering the group's intellectual property development and remaining a key player in the UK's developing pharmaceutical cannabis market," Chief Executive Officer James Short says.
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Hemogenyx Pharmaceuticals PLC - London-based biopharmaceutical company focused on treatments for blood diseases - Reports "breakthrough" in delivery chimeric bait receptors to innate immune cells. "The company believes that this innovative approach to myeloid immune cell transduction will significantly accelerate the development of CBR-based product candidates," Hemogenyx says. "The company's first-class scientific team continues to make good progress with CBR and, once sufficient resources are provided, the company anticipates moving new CBR-based product candidates into clinical trials, bringing them closer to addressing unmet medical needs."
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Castillo Copper Ltd - copper exploration company, with projects in Australia and Zambia - Hails "notable find" as exploration planning is underway at Harts Range project in Northern Territory, Australia. A 500 metre long pegmatite was observed, it says. "The geology team consider this to be prospective for uranium-niobium-heavy rate earth mineralisation," Castillo adds.
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Ormonde Mining PLC - natural resources company with assets in Newfoundland and Scotland - Notes investee TRU Precious Metals Corp reports "high grade gold" assays from sampling at Golden Rose asset in Newfoundland. Ormonde owns just over 36% of TRU. "We echo the sentiments of TRU's CEO, Steve Nicol, with the high-grade results returned as part of this programme of rock sampling demonstrating the scale of potential for Golden Rose. This is an extraordinary asset which has been optioned by a major gold company and we believe Ormonde offers heavily undervalued exposure to it. We look forward to updating shareholders in due course on continued progress at Golden Rose," Ormonde Executive Chair Brian Timmons says.
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Crushmetric Group Ltd - Operations in US, Hong Kong and Singapore and makes range of consumer products including pens, chairs and tumblers made by denting aluminium cans - Completes placing of 798,448 new ordinary shares at 12.5 pence each to two individual shareholders. It raises GBP99,806. "The placing proceeds are being used for general working capital purposes," it adds. In addition, it adds that subsidiary Star Collaboration signs settlement agreement in legal proceedings with distributor. Star C will pay GBP166,000.
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Eight Capital Partners PLC - London-based fintech - Signs deal to sell holding in a 1AF2 Ltd bond to SFE Equity Investments Sarl for EUR40 million. "The directors believe that the sale represents a positive step forward for the company, providing additional funding options for investment in the fintech sector and strengthening its balance sheet through the addition of GBP20.4 million of net assets when compared to the company's last published balance sheet as a result of prior impairments to the value of the 1AF2 bond by the same amount," Eight Capital says. It purchased the bonds in 2021. 1AF2 is a subsidiary of Avantgarde Group Spa an Italian private holding company invested in fintech, Eight Capital explained in July.
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By Eric Cunha, Alliance News news editor
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