17th Mar 2026 20:16
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Impax Environmental Markets PLC - London-based environmental markets investment trust - Significant shareholder Saba Capital Management LP issues statement regarding IEM's proposed exit tender offer. Believes Impax Asset Management is not a manager acting in the best interests of its investors. Points to IEM's track record of "investor outflows, losses and mandate terminations" as evidence of its negative impact on shareholders. Saba says its objective has always been to secure the best outcome for IEM shareholders, especially given the company's "massive" 5-year underperformance. "Because of our efforts, shareholders will have the opportunity to exit their underperforming investment in IEM at close to NAV - something they clearly want," Saba says. Says IEM's refusal to reimburse stamp duty is the only thing standing in the way of Saba tendering its shares. "It is proof that Impax cares more about protecting its own interests than the best interests of IEM shareholders," Saba claims.
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BP Marsh & Partners PLC - London-based investor in early-stage financial services businesses - Says portfolio company, Sodalis Capital Ltd, acquires Amiga, the international specialty underwriting agency. Upon completion, BP Marsh will retain a 25.6% shareholding in Sodalis. At completion, BP Marsh will receive GBP706,250 in cash for its 39.2% stake, and repayment in full of its outstanding loan facility to Amiga of GBP1.8 million. In addition, the sellers (including BP Marsh) may receive deferred consideration, contingent upon Amiga's performance over the financial years ending December 2027 and 2028.
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MAC Alpha Ltd - London-listed acquisition vehicle - Pretax loss widens to GBP197,823 in the six months to December from GBP152,099 the year prior. Administrative costs increase to GBP204,460 from GBP156,243. The group held a cash balance at the period end of GBP265,120 compared to GBP464,322 as at June 30. It has not yet acquired an operating business and as such is not yet revenue generating. The directors intend to determine the company's dividend policy following completion of a platform acquisition.
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Ethtry PLC - London-based company building ethereum treasury for investments in "breakthrough technologies" - Patrick Chopard and Oliver Murphy step down from the board with immediate effect and Steve Winfield, who previously served on the board, has been appointed as an executive director.
During this period, Ethtry has established the foundations of its current strategic direction, including the development of an ethereum treasury policy and the outline of an operational business model intended to link digital asset treasury management with opportunities across emerging technology infrastructure. Believes that the combination of a "focused operational strategy and a clearly defined digital asset treasury policy provides a strong platform from which Ethtry can pursue strategic opportunities and deliver long-term value for shareholders."
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ZCCM Investment Holdings PLC - Lusaka-based mining investor - Advises shareholders and market participants that the company has entered into negotiations, which if successfully concluded may have a material effect on the price of the company's securities. Accordingly, advises shareholders exercise caution when dealing in the company's securities until a full announcement is made.
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Marula Mining PLC - mining company with projects in South Africa, Kenya and Tanzania - Announces the results of wash plant test work and recent manganese assay work undertaken at the Kilifi manganese processing plant in Kenya. The assay results received indicate the potential of significant manganese manganese grade uplift from the processing of run-of-mine manganese ores across selected and sampled manganese ore sources. Further test work and assaying of run-of-mine and processed and washed manganese material will continue as part of the steady state operating procedures of the Kilifi Plant. "These results, from certain material, demonstrate the potential ability of the Kilifi Plant to surpass the minimum manganese grade specifications under the existing agency framework contract with Baosteel Resources South Africa and other potential new manganese offtake arrangements that the company is now progressing," Chief Executive Jason Brewer says.
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By Jeremy Cutler, Alliance News reporter
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Related Shares:
Impax Asset ManagementB.p MarshMac AlphaZccm Investments Holdings Plc