10th Apr 2025 20:22
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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4Global PLC - London-based data, services and software company specialising in major sporting events - secures an initial 18-month contract worth around GBP500,000 with UK Sport, the non-departmental public body responsible for investing in Olympic and Paralympic sports in the UK. Under the agreement, 4Global will lead a pilot project designed to demonstrate the business value of data and digital investments. Coupled with the recently announced Sport England contract, 4Global now holds the two most significant data-led contracts in UK publicly funded sport, company says. Adds: "Together, these competitive wins reinforce the company's position as the leading provider of sports data in the UK."
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IQE PLC - Cardiff-based supplier of advanced wafer products for the semiconductor industry - Along with X-FAB Silicon Foundries SE, announces a joint development agreement to create a European-based gallium nitride power device platform solution. With an initial two-year scope of work, IQE and X-FAB will collaborate to develop a 650V GaN device.
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EnSilica PLC - Oxford, England-based computer chip maker specialising in mixed signal application specific integrated circuits - Signs binding memorandum of understanding with a "major" European satellite operator to support its chipset requirements. The MoU includes a contract for the feasibility study for a high-value satellite payload ASIC. The feasibility study contract will commence this month, with non-recurring engineering revenues falling into EnSilica's current and next financial years. A positive outcome in the feasibility study is likely to lead to the significant development of an ASIC used in the payload of a communications satellite.
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Smarttech247 Group PLC - London-based cybersecurity services - Further to announcement in March, says the sale of Visibility Blockchain Ltd to Forcepoint, a data and cloud security provider, has now been completed. Confirms receipt of EUR1.8 million in cash from the sale.
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Cambridge Cognition Holdings PLC - Cambridge, England-based brain health software - Wins GBP1 million contract to provide digital cognitive assessments for a large Phase 3 autoimmune disease clinical trial. Contract runs from 2025 through to 2031. "We view this repeat business from an existing customer as a strong endorsement of our product value and service excellence. The expanding research in autoimmune diseases is promising, positioning us to address this growing need and significantly expand our presence in the high-impact, late-stage CNS trials market. We're encouraged by this momentum," company says.
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Ocean Harvest Technology Group PLC - Reading, England-based researcher, developer and supplier of proprietary blended seaweed products as functional additives for the global animal feed industry - Says first quarter revenue is expected to be up 65% year-on-year and ahead of the fourth quarter. Positive momentum is a result of existing large OceanFeed blend customers returning to normal order patterns and the addition of new OceanFeed and single seaweed customers, company explains. On tariff exposure, points out the US market is expected to account for less than 2% of group revenue for the year. As such, the financial impact of these tariffs is anticipated to be minimal.
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Eqtec PLC - London-based licensor of syngas technology for conversion of waste into sustainable energy and biofuels - announces GBP1.5 million subscription at 0.85 pence per share by CompactGTL Ltd. Subscription shares represent just under 29% of Eqtec's share capital. Also agrees to issue warrants to its subsidiary Compact WTL Tech Ltd as part of the subscription on a 1 for 2 basis exercisable at 1.5p each for four years. Proceeds will be used to continue to develop Eqtec and CGTL integrated IP for WTL technology; to acquire an interest in a containerised syngas to liquid fuel pilot plant; and contribute to the ongoing working capital requirements of the group. CGTL will form, with Eqtec, a new joint venture entity in the United Arab Emirates which will serve as the dedicated vehicle for integrated WTL business operations in the MENA region.
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Future Metals NL - exploration company focused on projects in Western Australia - Zeta Resources takes 10% stake through cornerstone investment, part of AUD4.2 million fund raise. Future Metals plans to raise AUD1.6 million via placement and AUD2.6 million via 1-for-3 right issue, both at AUD0.011 per share. Funds raised will be used primarily to advance the development of the Eileen Bore Cu-Ni-PGM deposit, targeting a bulk copper feed source for the Savannah Plant.
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Coro Energy PLC - South East Asian energy company with a natural gas and clean energy portfolio - Sells 15% interest in the Duyung PSC to Conrad Asia Energy Ltd, the final stage of its strategic pivot to clean energy in South East Asia. This enables the company to focus its resources on its renewables portfolios in Vietnam and the Philippines. The disposal follows a long period of continued ongoing costs required to support the asset without achieving expected commercial milestones. The stake in the Duyung PSC was held on Coro's balance sheet at USD18.9 million as at June 30, 2024. Coro intends to impair the carrying value down to the transaction consideration. Coro will pay CAE USD300,000 under the deal and issue shares worth up to USD975,000. "This is a pivotal moment for Coro and the result of a long process to streamline and strengthen the company's portfolio," company says.
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TruSpine Technologies PLC - London Gatwick Airport-based medical device company - Ahead of Thursday's annual general meeting, says considerable progress has been made in sourcing funding, and expects to make announcements in the near term. Believes that this process is now reaching a conclusion. But says closing out the fundraising has taken "far longer" than the new board members were originally anticipating, and consequently "operational progress has slowed". Funding conditions for pre-revenue companies generally remain extremely challenging, company says.
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By Jeremy Cutler, Alliance News reporter
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4globalIQEEnsilicaSmarttech247Cambridge CogOcean Harvest TEqtecFuture MetalsCoro Energy