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Lastest Finance News

IN BRIEF: Altona raises funds, sees admission to Main Market on June 9

1st Jun 2023 17:35

Altona Rare Earths PLC - London-based mining exploration company - Announces the publication of its prospectus in respect of the proposed admission to the Official List and to trading on the London Stock Exchange's Main Market. Expects admission June 9. Further, raises GBP2.0 million via oversubscribed GBP1.7 million placing and subscription of GBP322,700 through the issue of 40 million shares at 5 pence each. Funds will be used to complete Altona's maiden compliant mineral resource estimate and a scoping study for its flagship asset, Monte Muambe Rare Earths mining project in Mozambique, which is expected to be published in August. In addition, says in line with the company transitioning into a highly technical phase of exploration and development at admission, Christian Taylor-Wilkinson will step down as both chief executive and director. Cedric Simonet, the chief operating officer, will be appointed chief executive officer at admission. Read More

IN BRIEF: Murray International repays GBP60 million loan to RBS arm

1st Jun 2023 17:35

Murray International Trust PLC - Edinburgh-based trust - Says it has repaid its maturing GBP60 million five-year fixed rate loan with The Royal Bank of Scotland International Ltd, London Branch. Following the repayment of this loan, the company's borrowings are expected to total GBP140 million, which represents a net gearing level of 8.5%, based on the latest net asset value of the company. Read More

IN BRIEF: Murray International repays GBP60 million loan to RBS arm

1st Jun 2023 17:35

Murray International Trust PLC - Edinburgh-based trust - Says it has repaid its maturing GBP60 million five-year fixed rate loan with The Royal Bank of Scotland International Ltd, London Branch. Following the repayment of this loan, the company's borrowings are expected to total GBP140 million, which represents a net gearing level of 8.5%, based on the latest net asset value of the company. Read More

C4X says MALT-1 study shows no UGT1A1 liability seen in competitors

1st Jun 2023 17:32

(Alliance News) - C4X Discovery Holdings PLC on Thursday said it has completed its preclinical study showing that its MALT-1 lead compounds are free of UGT1A1 enzyme liability at clinically meaningful doses, unlike competitor chemistries. Read More

Auto Trader "still accelerating" despite challenges in car industry

1st Jun 2023 17:31

(Alliance News) - Auto Trader Group PLC on Thursday reported a double-digit rise in annual revenue and only a slight dip in profit, despite ongoing challenges within the wider car industry. Read More

IN BRIEF: Fulcrum Utility Services completes 7th tranche of asset sale

1st Jun 2023 17:27

Fulcrum Utility Services Ltd - Cayman Islands-based provider of energy connections and related utility infrastructure - Completes tranche seven of the domestic gas asset transfer to ES Pipelines Ltd for GBP2.2 million. The total gross consideration receivable is expected to be GBP49 million, with GBP36 million having been already received. The arrangement with ES Pipelines includes further milestone targets which, if achieved, would trigger additional enhanced payments of up to GBP3 million over the remaining term of the contract, Fulcrum adds. Read More

IN BRIEF: Chaarat closes in on USD250 million investment from Xiwang

1st Jun 2023 17:06

Chaarat Gold Holdings Ltd - a gold mining company with an operating mine in Armenia, and assets in the Kyrgyz Republic - Signs investment agreement and strategic co-operation agreement with Xiwang International Co Ltd in respect of a potential equity investment of USD250 million. Talks were initially announced on May 17. As previously disclosed, the investment will support the development of Chaarat's organic pipeline and facilitate external growth through value-added acquisitions. Investment will be in the form of a new issue of shares in Chaarat at a price of GBP0.20 per share, resulting in Xiwang holding 60% of the shares in the company. Notes completion of the deal is contingent on shareholder approval, due diligence, and corporate and regulatory approvals. Aims to complete deal by July 30. Read More

LONDON MARKET CLOSE: Stocks green amid cooling eurozone inflation

1st Jun 2023 16:57

(Alliance News) - Stocks in London were higher at the close on Thursday as markets breathed a sigh of relief that the US debt ceiling deal was approved by the House of Representatives. Read More

IN BRIEF: URU extends convertible loan note terms with Boothbay

1st Jun 2023 16:44

URU Metals Ltd - Toronto headquartered, mineral exploration and development company - Agrees to extend the repayment date and long-stop date for conversion of the convertible loan notes held by Boothbay Absolute Return Strategies LP to December 31 from May 31. The date by which Boothbay has the right to convert funds due under the loan note at GBP0.85 per share has also been extended to the maturity date and agrees that it will not convert sums due to Boothbay under the convertible loan note on or prior to August 30. As at May 31, the total amount advanced by Boothbay to URU is USD500,000. Details regarding the convertible loan note were announced on May 6. Read More

IN BRIEF: Proteome Sciences repays GBP824,400 loan in full to Vulpes

1st Jun 2023 16:43

Proteome Sciences PLC - London-based drug development services provider - Says it has repaid in full its outstanding loan and associated interest, totalling GBP824,424, to Vulpes Investment Management Private Ltd, as originally announced in July 2018 and amended in March last year. Read More

IN BRIEF: Frontier IP cuts interest in portfolio company, Exscientia

1st Jun 2023 16:43

Frontier IP Group PLC - London-based intellectual property commercialisation company - Raises around USD1.86 million by selling a further 288,850 American Depositary Shares of portfolio company Exscientia at an average price of USD6.47. Sale took place between April 25 and May 30. Explains the book value of the ADSs sold was GBP1.28 million and the Exscientia share sales have generated an estimated realised loss of GBP1.10 million for the financial year to June 30. Frontier now holds 493,550 ADSs in Exscientia. Plans to use proceeds for general working capital purposes and to provide further support to existing portfolio companies. Frontier has now sold 1.1 million Exscientia ADSs since January 10 2022, for net proceeds of around GBP11.45 million. Read More

UK dividends calendar - next 7 days

1st Jun 2023 15:52

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UK shareholder meetings calendar - next 7 days

1st Jun 2023 15:52

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UK earnings, trading statements calendar - next 7 days

1st Jun 2023 15:51

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TOP NEWS: US manufacturing sector sees fastest decline since February

1st Jun 2023 15:31

(Alliance News) - The US manufacturing sector declined in May, according to the latest data from S&P Global and the Institute for Supply Management on Thursday. Read More

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