(Alliance News) - The UK government has said it will introduce "age or functionality restrictions" on social media for under 16s, Education Minister Olivia Bailey has said. Read More
(Alliance News) - UK's King Charles III met Donald Trump at the White House Monday, kicking off a high-stakes state visit shadowed by transatlantic tensions and a fresh alleged attempt to assassinate the US president. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
International Consolidated Airlines Group SA - Madrid-based airline operator - Completes reduction of share capital by cancelling 115.5 million treasury shares. Announces that the public deed recording the capital reduction through the cancellation was registered with the Madrid Commercial Register on Wednesday last week. Expects the cancelled shares to be excluded from the corresponding stock exchanges "in the forthcoming days." Says its share capital amounts to EUR461.2 million or 4.61 billion shares. Read More
Directa Plus PLC - Lomazzo, Italy-based graphene products manufacturer - Appoints James Lumb and Howard Smith of Interpath Ltd as joint administrators to manage its affairs "for the purposes of achieving a better result for the company's creditors as a whole than would be likely if the Company were wound up". Directa also confirms that the voluntary liquidation process for Italian subsidiary Directa Spa has been certified. Additionally, it says initial meetings have taken place with interested parties regarding the potential sale of Setcar SA, its Romanian environmental remediation subsidiary. Says talks are ongoing but that there is no certainty that any transaction will conclude. Adds that the outcome of the Italian liquidation and Setcar disposal will determine whether any returns will be generated for shareholders. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
IQE PLC - Cardiff-based supplier of advanced compound semiconductor wafer products and material solutions - Raises GBP81 million via an investment from a strategic partner, subscriptions, and a proposed placing and retail offer. MACOM Technology Solutions Inc invests GBP30 million via a subscription at 19.8 pence each. In addition, IQE issues GBP15 million of new secured zero-coupon convertible loan notes to MACOM at the issue price. Raises a further GBP22.8 million via the redemption of existing convertible loan notes and reinvestment by the noteholders by way of subscription at 19.8p per share. In addition, plans to raise GBP11 million via a placing at the same price and GBP2 million by a retail offer. Proceeds will be used to repay existing bank debt, redeem the existing loan notes and strengthen the balance sheet, IQE says. As a result, IQE ceases its strategic review and is no longer considered to be in an "offer period". Alongside the investment, IQE and MACOM will enter into long-term strategic supply agreements. Chief Executive Jutta Meier says: "This proposed transaction is transformational for IQE. The investment from MACOM and other existing shareholders will provide the balance sheet strength to allow us to capitalise on the opportunities in front of us, while maintaining our unique global footprint. We are now better positioned than ever to execute on our growth strategy." Read More
Tullow Oil PLC - London-based oil and gas company - Says refinancing transaction is completed after receiving backing from over 99% of bondholders and Glencore PLC. Chief Executive Ian Perks calls "comprehensive refinancing agreement", a "significant achievement" for Tullow. "By extending maturities and reducing our cash interest payments, we have secured the financial foundation to execute our business plan and capture the full potential of our assets," he says. Under the deal, Tullow redeems USD100 million of its existing notes at par plus accrued and unpaid interest; releases the remaining existing notes; issues around USD1.19 billion senior secured notes due 2028; releases all obligations and liabilities under its existing USD400 million secured notes facility; issues USD423 million of junior secured notes pursuant to a subscription agreement; enters into a USD100 million new super senior cargo prepayment facility; and issues USD25 million of additional new notes to Glencore pursuant to a private placement subscription agreement. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
(Alliance News) - King Charles III arrives in Washington on Monday for a high-stakes state visit aimed at salvaging Britain's frayed ties with Donald Trump, amid extra-tight security following an attack on a gala dinner attended by the US president. Read More
Celsius Resources Ltd - developer of the Maalinao-Caigutan-Biyog copper-gold project in the Philippines - Notes announcement by Maharlika Investment Corp, which has executed an agreement for the sale and assignment of its loan position under the Omnibus Loan & Security Agreement with Makilala Mining Co Inc, Celsius' Philippine affiliate, to Equinaire Holdings Ltd, a subsidiary of Kiri Industries Ltd. MIC transfers its rights, title and interests as lender under the OLSA, under which it previously extended a USD10 million bridge loan facility to Makilala to support the front-end engineering design and feasibility study for the Maalinao-Caigutan-Biyog copper-gold project. MIC adds that the facility was structured as a short-term catalytic investment and that it "has achieved its objective of de-risking the project and facilitating the entry of a new strategic investor" now that the FEED and feasibility workstreams are complete. Read More
(Alliance News) - Kazera Global PLC on Monday said it is "increasingly well positioned" to become cash-generative, but will need additional funding in the near-term future. Read More
(Alliance News) - Keir Starmer said Britons should not panic over the economic impact of the Iran war but acknowledged that people might have to change their shopping habits and holiday plans. Read More
(Alliance News) - The FTSE 100 closed down on Monday, weighed by falls in Marks & Spencer, J Sainsbury and Shell, as the stalemate in the Middle East dragged on. Read More