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TRADING UPDATES: 88 Energy firms bookbuild; Gama Aviation inks deal

24th Apr 2024 14:26

(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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SpaceandPeople PLC - Glasgow-based provider of promotional and short-term retail space in "high footfall venues" - Announces that its German subsidiary company, POP Retail GmbH, has renewed an agreement with GB Service GmbH. The deal is for the provision of retail kiosks in shopping centres in Germany. It has been extended for another five years, and will now end in April 2019. Chief Executive Officer Nancy Cullen says: "I would like to congratulate everyone who has been involved in the development of our German business. We are, of course, absolutely delighted to be renewing our contract with ECE. The duration of the contract, combined with the additional flexibility granted, will enable us to provide a great service to ECE across their portfolio and to develop pop up retail further in this prestigious portfolio".

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88 Energy Ltd - Alaska-focused oil exploration company - Completes bookbuild to raise AUD9.9 million, or GBP5.2 million, before costs. The fundraise saw shares issued at AUD0.003 each. CEO Ashley Gilbert says: "We are now funded to proceed with the development and monetisation plans for Project Phoenix. The next steps include post-well flow test studies, securing additional contingent resources at SMD and SFS to complement the BFF contingent resource, and exploring a farm-out of Project Phoenix to engage a strategic partner for the next phase of development and commercialisation."

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Gama Aviation PLC - Farnborough, England-based aviation services company - Inks partnership with Department 13 to offer UK solutions to mitigate drone threats for the UK's Air Ambulance, National Security, Policing and Critical National Infrastructure interests. CEO Darren Gillam says: "We are very excited and proud to be partnering with Gama Aviation, and the synergistic effect both companies will have in delivering critical C-UAS solutions for the UK. We see this as another example of how two well-regarded companies further embrace the AUKUS relationship."

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SDX Energy PLC - London-based energy company with exploration, development and production assets in Egypt and Morocco - Says that it has received the first instalment of the West Gharib sales proceeds, coming to USD3.5 million, and has repaid in full the outstanding reserves-based lending facility, amounting to USD2.7 million. Explains that the firm now has "more flexibility to deliver shareholder value by progressing the disposal of South Disouq, growing our Moroccan assets and executing on the energy transition strategy."

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Yu Group PLC - Nottingham-based supplier of gas and electricity, meter asset owner and installer of smart meters to the UK corporate sector - Says Managing Director David Crowe sells 7,354 shares at GBP19.33 each on Tuesday, while Senior Independent Director Anthony Perkins sells 4,000 shares at GBP19.20 each.

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By Holly Beveridge, Alliance News reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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