24th Jun 2026 18:31
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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River Global PLC - London-based asset and wealth management firm formerly known as AssetCo PLC - UK Financial Conduct Authority approves the change in control for River Global Holdings Ltd and the proposed acquisition of RGH is expected to complete on June 30. Additionally, confirms says assets under management is GBP3.44 billion on June 19, up from GBP3.10 billion on March 31. Excluding AUM related to European Opportunities Trust PLC, which has announced a reconstruction, as well as mandates where clients have notified an intention to terminate or funds which are closing down, AUM totals GBP2.96 billion, with net inflows of GBP39 million in the quarter to June 19.
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East Star Resources PLC - Kazakhstan-focused copper and gold explorer - Provides update on the Verkhuba project and joint venture agreement with Hong Kong Xinhai Mining Services Ltd. Following the formalisation of the JVA, under which Xinhai will farm into the Verkhuba Copper Deposit to accelerate the development into production. Xinhai's estimated investment is approximately USD65 million, with East Star fully carried to production, at which point it will hold 30% of the producing mine. Verkhuba has a current JORC Inferred Resource of 20.3 metric tonnes at 1.16% copper, 1.54% zinc and 0.27% lead. "The operations and administration of the joint venture are progressing well as both companies work towards preparing for feasibility studies and the mining licence application," East Star says. Additionally, adrilling contract has been executed and drilling rigs have been mobilised to site, with 5,000 metres of drilling planned to support resource definition, mine planning and feasibility studies expected to commence in June 2026. East Star was begun discussions regarding land acquisition and long-term project infrastructure requirements.
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Hydrogen Utopia International PLC - transforms non-recyclable waste plastic into hydrogen, clean fuels and advanced materials - Says it continues to advance a number of defence energy and sustainable aviation fuel opportunities across its target markets. Subsidiary Fortress Fuel is currently engaged in preliminary discussions with a global military supplier that holds substantial offset obligations across jurisdictions including Poland, Saudi Arabia and other potential Gulf Cooperation Council markets. FF has been established to pursue opportunities in military fuel security, forward-base resilience and deployable sovereign fuel production. In Saudi Arabia, HUI remains in discussion with potential local investors and relevant ministries regarding project structuring, local participation and alignment with national industrial, circular-economy and energy-transition objectives. In the UAE, a proposed 7,000 tonne hydrogen a year project with an estimated value of approximately USD200 million is being evaluated. In the UK, HUI is reviewing a sustainable aviation fuel opportunity following recent UK government support for domestic SAF production. This includes a potential facility with indicative capital expenditure of GBP800 million to produce 600,000 barrels of SAF.
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Lexington Gold Ltd - gold explorer, with assets in the US and South Africa - Enters into a binding share sale and purchase agreement with GoldOz Ltd under which GoldOz conditionally agrees to acquire 100% of Global Asset Resources Ltd from Lexington. GAR is the company through which Lexington holds its 51% interests in its three principal Carolina gold projects. "The USA Gold Project Interests are intended to be the cornerstone for GoldOz's proposed ASX re-listing, providing Lexington shareholders with a route to crystallise value from the company's USA portfolio while retaining meaningful exposure to future upside," Lexington says. Adds: "GoldOz is expected to raise funds to advance the US assets, enabling Lexington Gold to focus management's time and capital on its South African portfolio, including the Jelani JV Project, which hosts a JORC-compliant mineral resource estimate of approximately 6.02 million ounces of gold," it adds. As compensation, Lexington Gold expects to receive 25.5 million new GoldOz shares, about 36.7% of its share capital at re-listing. Additionally, Lexington will receive AUD25,000 upfront and AUD325,000 at completion, and will retain a 1% net smelter royalty over the US projects. Lexington may receive a further 12.5 million GoldOz shares subject to defined JORC resource milestones.
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Dillistone Group PLC - Basingstoke, England-based software supplier for the international recruitment industry - Chair Giles Fearnley says the the annual general meeting: "The first half of 2026 has seen the group prepare for its transition to the serial acquirer model. Led by our new [non executive director] Matthias Riechert, the search for our future CEO continues. We have held interviews with more than a dozen excellent candidates, and we hope to be in a position to make an announcement over the summer. Ikiru People, our existing business, continues to make progress. Incoming new business orders for our contingency products are ahead of internal expectations, and recurring revenue through our Talentis platform continues to accelerate rapidly. This revenue growth is likely to make Talentis cash generative in [the second half] and, from this point, it is expected that all of our ongoing products will make a cash contribution to the group."
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Vulcan Two Group PLC - investment company focused on acquiring e-pharmacy businesses - Chair Susan Clement Davies states at the annual general meeting: "The progress achieved since IPO has been excellent, as has the support received from institutional investors and the commitment shown by employees across the group. While we remain at an early stage in the group's development and are continuing to develop our understanding of the acquired businesses and their value drivers, we are encouraged by the progress to date and the opportunities to deliver further growth across the group. The board remains confident in the group's long-term prospects and looks forward to updating shareholders further as we continue to execute our strategy and build shareholder value."
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Blue Star Capital PLC - Investor focused on blockchain, e-sports, and payments - Updates on its investee company SatoshiPay Ltd. Says development of the decentralised foreign exchange infrastructure within the Pendulum ecosystem has continued to advance leveraging Nabla Finance's automated market maker technology. Separately, SatoshiPay continues to progress development and commercial rollout of its fiat-to-crypto infrastructure platform Vortex. "As part of these developments, the Pendulum community completed the migration of the FX DEX and its associated liquidity to the Base blockchain network. This migration is intended to improve settlement efficiency for fiat-to-crypto flows and provide access to Base's aggregated stablecoin liquidity," company says. Following deployment on Base, Pendulum's FX DEX reaches nearly USD3 million in monthly foreign exchange volume for EURC and BRLA swaps to and from USDC.
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Pharos Energy PLC - London-based energy company with assets in Vietnam and Egypt - Agrees to be acquired by Ratio Petroleum Energy LP in a 28.0 pence-per-share deal comprising cash consideration of 23.0683 pence per share, a 4.0 pence special dividend, and a 0.9317 pence final dividend for the year ended December 31. The deal values Pharos at GBP124.3 million and represents a premium of 10.24% to Pharos' closing share price on June 23. "Ratio believes the acquisition represents a compelling liquidity event for existing shareholders of Pharos, receiving a premium to the prevailing share price and providing them with a highly attractive opportunity to receive cash and realise their investments at a time when Pharos' London-listed shares otherwise lack material trading liquidity," Ratio says.
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RM Infrastructure Income PLC - investment company managed by Edinburgh- and London-based RM Funds that lends to assets "providing essential services to society" and is in managed wind-down - Successfully completes a reorganisation of investee company Energie Fitness. "Whilst it had originally been envisaged that the reorganisation would be implemented through a pre-pack administration process, a consensual agreement was reached with EF's shareholders pursuant to which their existing equity interests have been acquired for a de minimis amount. The avoidance of a pre-pack administration process is expected to generate significant cost savings for the company and, importantly, minimise operational disruption to EF, both of which are beneficial to the Company's overall exposure to the business," RM says. Following completion, the company will retain its existing GBP12 million nominal senior secured investment loans in EF currently marked at GBP7 million, while its equity ownership in EF will increase substantially from 43% to over more than 98%. Additionally, RM will make available up to GBP3 million of additional capital to EF through an increase of its existing senior secured investment loan.
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Aberdeen Equity Income Trust PLC - London-based trust investing in UK-quoted companies - Enters into a GBP30 million revolving credit facility with the Bank of China Ltd, London Branch for three years. GBP26 million of the facility has been drawn down today at an initial all-in rate of 4.6296% with proceeds to repay the amount outstanding under the Aberdeen's expiring revolving credit facility with the Royal Bank of Scotland International Ltd, London Branch, in full. The facility expires on June 22 2029. Under the terms of the facility, Aberdeen also has the option to increase the level of the commitment to GBP50 million, subject to the lender's credit approval and the approval of RBSI during the term of the fixed rate loan. Aberdeen's GBP10 million fixed rate loan with RBSI, which is drawn at a rate of 3.903%, remains in place until May 2027.
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By Aidan Lane, Alliance News reporter
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