(Alliance News) - LondonMetric Property PLC on Monday reported strong rental income growth in the first half of its financial year, supported by acquisitions and leasing activity, as it reaffirmed its confidence in meeting full-year expectations. Read More
Pennpetro Energy PLC - London-based energy project developer with interests in Ukraine, the US and Canada - Signs heads of agreement to buy Indigenous Canadian Energy Holdings Inc. The announcement follows Pennpetro's confirmation in September that Icenergy is its reverse takeover target. Pennpetro is to raise GBP20 million before expenses through a placing of new ordinary shares, with the proceeds expected to fund Icenergy's retail business, including construction of a wholly owned production plant. No placing commitments have been obtained. Read More
Primary Health Properties PLC - London-based healthcare facility investor - Enters into a conditional agreement to form a 50-50 strategic joint venture with Singapore sovereign wealth fund GIC Pte Ltd to invest in private hospital infrastructure. The joint venture will be seeded with 27 private hospitals from PHP's existing portfolio, valued at about GBP700 million. PHP expects to complete the transaction next month and receive net proceeds of about GBP500 million, which will be used to repay variable rate debt facilities. Notes that completion of the venture is conditional on the finalisation of a new secured club debt facility, where all key terms have been agreed with lenders and documentation is ongoing. All property and commercial due diligence has been completed, it says. Read More
Gemfields Group Ltd - London-based miner and marketer of coloured gemstones - Generates USD52.0 million at an auction of rough rubies held this month, slightly down from USD53.0 million at the sale in February. Only two auctions have taken place this year. Rubies are extracted from Mozambique-based Montepuez Ruby Mining Ltda, in which Gemfields owns 75%. "The results achieved at this auction reflect robust demand across the range of sizes and qualities offered, with particularly strong prices for larger, fine-quality rubies," says Adrian Banks, Gemfields' managing director of product & sales. This underscores the premium customers place on these "exceptionally rare and precious rubies", Banks adds. Read More
(Alliance News) - LondonMetric reports growth in rental income over its first half, GSK posts promising results from a drug trial while Volex expects annual profit at the upper end of market forecasts. Meanwhile, Abenojar Tungsten, set to list later this month, could be worth more than GBP600 million. Read More
(Alliance News) - Stocks in London are set to open slightly lower on Monday, after a sizeable rise last week, having shaken off worries hanging over the tech sector in New York. Read More
Roadside Real Estate PLC - Abingdon, England-based investor in roadside property such as petrol stations and convenience stores - Shareholders including Davina Dickson and James Dickson sell 12.8 million existing shares, a 7.2% stake, at 51.00 pence per share in a placing worth GBP6.5 million. The two Dicksons no longer have any stake in the company. Roadside Real Estate Chief Executive Officer Charles Dickson buys 5.5 million of the shares via Tarncourt Capital Ltd. CEO Dickson now is interested in 78.1 million Roadside Real Estate shares in total, a 43.8% stake, both directly and via Tarncourt. The overall concert party now includes only CEO Dickson and David Holdsworth and holds 50.04% in total. Read More
(Alliance News) - The average price tag on a home jumped by more than GBP3,500 month-on-month in October, but the market is still price sensitive, with prices "virtually flat" compared with a year earlier, according to a property website. Read More
(Alliance News) - Repairing the economic damage of Brexit should be the top priority for the prime minister, the boss of the British Chamber of Commerce said. Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday, and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of earnings reports and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News: Read More
(Alliance News) - The FTSE 100 made further strong gains on Friday as Bank of England Governor Andrew Bailey played down inflation fears, although banks missed out amid fears of a tax hit. Read More
(Alliance News) - Britain should cut public spending rather than raise taxes on banks, the International Monetary Fund has warned. Read More
Octopus AIM VCT PLC and Octopus AIM VCT 2 PLC - venture capital trusts - Enter discussions regarding a possible merger. Says this would be "intended to create a larger and more efficient AIM-focused VCT with greater scale and deliver cost synergies". Their boards believe such "synergies" would benefit existing and prospective shareholders. Also, AIM VCT says it intends to launch a new offer for subscription in respect of the 2026-27 and 2027-28 tax years, following the merger. The merger would be completed through a scheme of reconstruction, with smallest party AIM VCT 2's assets and liabilities being transferred to AIM VCT. AIM VCT 2 shareholders would receive new shares in AIM VCT as consideration. Read More
(Alliance News) - Capricorn Energy PLC on Friday announced the indefinite adjournment of the court and general meetings regarding a proposed acquisition by DNO ASA. Read More