Get 14 Days Free
(Alliance News) – The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
———-
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.
———-
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.
———-
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.
———-
Frontier IP Group PLC – London-based intellectual property commercialisation 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. Further, he has more than 30 years’ experience at senior levels in software and IT services companies.
———-
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.
———-
Sondrel Holdings PLC – lobal 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,” CEO Graham Curren comments.
———-
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.
———-
Nostrum Oil & Gas PLC – Amsterdam-headquartered oil and gas company with operations in Kazakhstan – Receives a licence from the UK Office of Financial Sanctions Implementation for the proposed restructuring of senior notes. “The approval of our licence 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,” CEO Arfan Khan comments.
———-
Venture Life Group PLC – Berkshire, England-based self-care product manufacturer and distributor – Secures a range of licence 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.
———-
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 licences, we have identified numerous drilling opportunities that can be incorporated into our infrastructure currently being constructed,” CEO & President Paul Baay comments.
———-
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 to advance the Wudinna project towards a feasibility evaluation. Says a drilling programme of 5,000 metres to 10,000 metres is scheduled to start in March.
———-
By Abby Amoakuh, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Limited. All Rights Reserved.
(Alliance News) – The following London-listed shares received analyst recommendations Monday …
(Alliance News) – Pembridge Resources on Friday said it received the last part of the third …
(Alliance News) – Goldstone Resources Ltd on Friday said there “remains room for improvement” i…
Alien Metals Ltd – Mineral exploration and development company with assets in Australia, Mexico…
(Alliance News) – The following is a round-up of updates by London-listed companies, issued on …
Mining companies are operating in a challenging environment but could now be the time to top up o…
THE WEEK: Morningstar columnist Rodney Hobson provides two pieces of advice to George Osborne, an…
Businesses that have competitive advantages within their industry are good candidates for dividen…
Morningstar reveals the top 10 best performers over the last five years
Morningstar OBSR reveals the top funds for investors seeking exposure to European equities
Morningstar Investment Management’s chief investment officer for EMEA Mike Coop expands on the in…
It wasn’t a fun year for US technology investors, that’s for sure, but just what was the damage, …
Morningstar analysts have downgraded the storied US retail brand Bed Bath & Beyond after it w…
Recruitment plans are on pause and pessimism is increasing, BDO’s report says
Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.
About Us
Connect With Us
Get Help
Terms of Use Privacy Policy Modern Slavery Statement Cookie Settings
The Morningstar Star Rating for Stocks is assigned based on an analyst’s estimate of a stocks fair value. It is projection/opinion and not a statement of fact. Morningstar assigns star ratings based on an analyst’s estimate of a stock’s fair value. Four components drive the Star Rating: (1) our assessment of the firm’s economic moat, (2) our estimate of the stock’s fair value, (3) our uncertainty around that fair value estimate and (4) the current market price. This process culminates in a single-point star rating that is updated daily. A 5-star represents a belief that the stock is a good value at its current price; a 1-star stock isn’t. If our base-case assumptions are true the market price will converge on our fair value estimate over time, generally within three years. Investments in securities are subject to market and other risks. Past performance of a security may or may not be sustained in future and is no indication of future performance. For detail information about the Morningstar Star Rating for Stocks, please visit here
Quantitative Fair Value Estimate represents Morningstar’s estimate of the per share dollar amount that a company’s equity is worth today. The Quantitative Fair Value Estimate is based on a statistical model derived from the Fair Value Estimate Morningstar’s equity analysts assign to companies which includes a financial forecast of the company. The Quantitative Fair Value Estimate is calculated daily. It is a projection/opinion and not a statement of fact. Investments in securities are subject to market and other risks. Past performance of a security may or may not be sustained in future and is no indication of future performance. For detail information about the Quantiative Fair Value Estimate, please visit here
