8th Oct 2026 13:36
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Built Cybernetics PLC - London-based company, focused on smart buildings - Enters merger agreement to acquire Ecolibrium Inc through a reverse triangular merger under Delaware law. Ecolibrium will become a wholly-owned subsidiary of Built Cybernetics upon completion. Company will satisfy the consideration in full through issuing 32.3 million new shares to "certain" Ecolibrium shareholders. Says USD2.4 million in Ecolibrium debts will be satisfied through the issue of 119.7 million new shares to the relevant noteholders. Also, a bridge loan from Ecolibrium shareholder Unbound Holdco Ltd will be assigned to Built Cybernetics in exchange for issuing 67.3 million new shares to Unbound. Moreover, Built Cybernetics proposes to raise gross proceeds of approximately GBP3.0 million in connection. Says the fundraise consists of an approximately GBP2.3 million placing at 1.5 pence per share, and a subscription worth around GBP600,000. Built Cybernetics and "certain [Ecolibrium] shareholders" will enter convertible loan agreements, with the latter advancing GBP500,000 in total to Built Cybernetics. Also, the company intends to make a separate conditional retail offer of up to 10.0 million new shares, raising up to GBP150,000 at the placing price. Says the fundraise is intended to fund further product development and commercial growth, specifically "the working capital requirements of the Airtel Africa roll-out," as well as group working capital and transaction costs.
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Avation PLC - Singapore-based commercial passenger aircraft leasing company - Signs a lease agreement with state-owned airline Linhas Aereas de Cabo Verde, which trades as CVSky, for one new ATR 72-600 aircraft. Says the lease is backed by a sovereign guarantee from the government of Cabo Verde, and that the aircraft was delivered to CVSky on Wednesday from ATR's production facility in Toulouse. "We are pleased to have secured this lease for our next new aircraft delivery which marks a key milestone in our growth story with the entry of Avation into the African market," Executive Chair Jeff Chatfield. "We are delighted to welcome CVSky as a new customer."
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Hamak Strategy Ltd - Africa-focused gold exploration firm and digital asset treasury manager - Announces binding agreement with Bea Mountain Mining Corp, a Liberian subsidiary of Avesero Mining, to divest its Nimba Project in Liberia. Relinquishes its rights to the MEL7012725 Nimba exploration licence, and Bea Mountain-related entities have been granted four new mineral exploration licences over the same area. Bea Mountain will pay Hamak USD1.0 million following the declaration of a mineral resource containing at least 500,000 ounces of gold within the new licence area; USD1.0 million following the successful grant of a mineral development agreement covering one or more areas for gold mining in the area; and a 2% gross production royalty upon the start of commercial gold mining. Says Bea Mountain may elect to pay USD2.5 million in return for reducing the production royalty from 2% to 1%. Hamak says it can now concentrate its resources on its Akoko gold project, and that Akoko's preliminary economic assessment remains on track for completion in late November. "This is a positive step forward for Hamak and a clear example of how we can build value from our exploration portfolio," says Chief Executive Officer Karl Smithson.
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Tertiary Minerals PLC - mineral development company focused on deposits in the US, Zambia and northern Europe - Updates on planned activities at Target A1 at the Mushima North Project in Zambia. Plans a programme of approximately 1,000 metres of diamond drilling to test for the continuation of mineralisation beneath the Discovery Zone, targeting higher-grade mineralisation and the potential for an underlying primary sulphide deposit. Says the last drill programme provided further support and increased confidence in the exploration target, extended mineralisation at depth and included its best drill intersections to date. These included 121 metres at 56 grams of gold per tonne, 0.26% copper and 0.37% zinc, equivalent to 78 g/t of gold, from four metres downhole. Plans to start the diamond drill programme following its general meeting on October 28, subject to shareholders approving its recent GBP1.0 million placing.
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By Emma Curzon, Alliance News reporter
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Related Shares:
Built CybernetAirtel AfricaAvationHamak StrategyTertiary Minerals