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Lastest Finance News

'Zombie' projects to step aside to allow link-ups to National Grid

2nd Jun 2023 12:10

(Alliance News) - Energy developers who are falling behind with their projects will have to move back or leave the queue and allow others to connect to the electricity grid faster, National Grid ESO has said. Read More

IN BRIEF: SIMEC Atlantis notes SAE Renewables debenture extension

2nd Jun 2023 12:08

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company focused on tidal energy - Notes SAE Renewables announcement to the holders of the debentures issued in 2017 through Atlantis Ocean Energy. Extends the AOE17 debenture maturity date to June 30, 2024, from 30 June, 2023. Says holders will pay an enhanced interest for the extension period of 10%. Read More

IN BRIEF: Albion Development half-year net asset value rises

2nd Jun 2023 12:00

Albion Development VCT PLC - London-based venture capital trust - Net asset value as at March 31 stands at 94.92 pence each, up 7.1% from 88.65 pence on December 31. Total net assets on March 31 amount to GBP129.33 million. Says it paid a dividend of 2.22p per share on May 31. Read More

IN BRIEF: Cap-XX applies to admit 129 million new shares to trading

2nd Jun 2023 11:59

Cap-XX Ltd - Sydney-based supercapacitor and energy management system manufacturer - Applies to admit 129.2 million new shares to be admitted to trading on AIM after shareholders vote in favour of it. The new shares are about 22% the size of the company's current shares in issue of 586.8 million shares. The company in May said it raised GBP2.4 million via another share placing of GBP181.5 million shares at 1.3p per share, which increased its total shares to the current GBP586.8 million. It plans to apply the money towards new product development and driving revenues through sales and marketing. Read More

IN BRIEF: Base Resources says Sustainable Capital has increased stakes

2nd Jun 2023 11:45

Base Resources Ltd - West Perth, Australia-based African-focused mineral sands producer and developer - Says that Sustainable Capital Ltd has increased its voting power in Base Resources to 290.5 million shares from 277.2 million shares, a rise from 24% of total base resources ordinary shares in issue to 25%. This increase in Sustainable Capital's holding for the purposes of the AIM Rules for companies was the net result of the acquisition and disposal of ordinary shares during the period from August 6, 2020 to June 1 this year. Read More

UK "seen as less accommodating" for big business, despite Dechra deal

2nd Jun 2023 11:43

(Alliance News) - Analysts were divided over what the latest takeover deal for a London mid-cap means for the wider financial market in the UK. Read More

IN BRIEF: Braemer gets green light for capital reduction

2nd Jun 2023 11:39

Braemar PLC - London-based shipbroker and advisor in shipping investment - Confirms its proposed capital reduction was approved by the court, and will become effective once processed at Companies House. Read More

IN BRIEF: Kodal notes positive assay results, funding package extended

2nd Jun 2023 11:20

Kodal Minerals PLC - London-headquartered West Africa-focused lithium and gold-focused exploration and development company - On Wednesday said final assay results at Bougouni lithium project confirm high-grade mineralisation with additional high-grade lithium mineralised intersections at the Boumou, Bougouni South and Ngoualana prospects. Boumou is a high-priority target for further drilling to extend and define pegmatite bodies and allow for new resource estimate. Company also confirms further extension to June 30 of deadline for completion of funding package announced on January 19, agreed with Kodal Mining UK Ltd, Hainan Mining Co Ltd and its UK subsidiary Xinmao Investment Co Ltd. Hainan had agreed to acquire 51% of Kodal Minerals for USD100 million plus USD17.75 million equity subscription at 0.5p per share. Original deadline was April 30, first extended to May 31. Conditions still not yet satisfied include the transfer of Bougouni to a new Mali mining company owned by Kodal Mining. Read More

Maven Income & Growth VCT 1, 3, 4, 5 raise funds via subscription

2nd Jun 2023 11:09

(Alliance News) - Maven Income & Growth VCT PLC 1, 3, 4 and 5 on Friday said they have each allotted new shares after receiving applications to their subscription offers launched in 2022. Read More

IN BRIEF: Marks & Spencers tenders GBP228.1 million loan notes

2nd Jun 2023 11:07

Marks & Spencers PLC - London-based food, clothing, home and bank services retailer - Says it has tendered GBP107.2 million of GBP300.0 million 3.750% notes that are due in 2026, and that it has tendered GBP120.9 million of GBP324.6 million 4.750% notes due in 2025. This follows the invitation made to holders of outstanding notes to tender their notes for purchase by the company for cash in an aggregate nominal amount of up to the 2025 notes and 2026 notes maximum acceptance amount. The offers were announced in May 2023, and were made on terms and subject to conditions contained in the tender offer memorandum. The company also announces that the 2025 and 2026 notes final acceptance amount is expected to be set at GBP219.4 million in aggregate nominal amounts of notes. Read More

Blencowe Resources loss widens as progresses Uganda graphite project

2nd Jun 2023 11:02

(Alliance News) - Blencowe Resources PLC on Friday said its half-year loss widened, as it focuses on completing a feasibility study and securing funding for its Orom-Cross graphite project in Uganda. Read More

IN BRIEF: Thor Explorations buys large lithium tenure in Nigeria

2nd Jun 2023 10:55

Thor Explorations Ltd - Vancouver, Canada-based mineral exploration company with interests in Nigeria, Senegal and Burkina Faso - Announces acquisition by newly-formed Nigeria subsidiary Newstar Minerals Ltd of over 600 kilometres squared of granted tenure covering two known lithium bearing pegmatite deposits and one large unexplored prospective pegmatite-rich belt. Tenure comprises West Oyo, Kwara State and Ekiti State lithium project areas in south-west Nigeria "within close proximity" to Lagos and Cotonou. Company aims to develop its first large-scale lithium mine without selling down ownership positions or dilute existing shareholders. It also will continue to prioritise explorations at Segilola gold mine, also in Nigeria. Read More

Amur Minerals to consider Ascent's possible takeover offer

2nd Jun 2023 10:48

(Alliance News) - Amur Minerals Corp on Friday noted Ascent Resources PLC's announcement of a possible takeover bid for Amur and said it would "consider" the terms on offer. Read More

UK Environment Agency to review Drax's power plant carbon capture plan

2nd Jun 2023 10:29

(Alliance News) - The Environment Agency in the UK on Friday said it has launched a consultation on Drax Power Ltd's proposals to develop bioenergy with carbon capture and storage at one of its power stations. Read More

IN BRIEF: Vodafone announces final tender results for hybrid capital

2nd Jun 2023 10:27

Vodafone Group PLC - Newbury, Berkshire-based telecommunications provider - Announces results of tender offer to manage hybrid capital, which it had launched last Wednesday. Accepts entire amount of EUR1.56 billion capital securities due 2079. For USD1.05 billion capital securities due 2078, accepts USD324.0 million, which is 31%. The expected settlement date for the offers is next week Tuesday. Read More

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