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TRADING UPDATES: Accrol makes buy; Artemis begins reconnaissance work

18th Jan 2024 20:55

(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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Accrol Group Holdings PLC - Blackburn, England-based private-label toilet roll manufacturer - Acquires Severn Delta Ltd, a wet wipe and tumble dryer sheet manufacturer. Acquisition is funded by cash reserves, for an earnings before interest, tax, depreciation and amortisation multiple of "less than 3x before synergies". Accrol adds: "The acquisition of Severn Delta demonstrates the group's ambition to broaden into other household products through strategic and complementary acquisitions which strengthen and extend the existing product offering. Severn Delta brings additional capacity and new capabilities to Accrol's growing wet wipe segment."

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Artemis Resources Ltd - Western Australia-focused gold, copper and lithium exploration company - Ground reconnaissance to begin at West Pilbara tenements. Areas being probed are "less than 20 kilometres away" from the Azure Minerals Andover lithium project. "We are pleased that ground reconnaissance work will recommence shortly on our 100% owned tenement areas. Given the exploration success of Azure Minerals via the Andover project together with the results to date at the Osborne JV we have with GreenTech Metals, we believe that our 100% owned tenements have good potential for positive exploration results for lithium mineralisation," Executive Director George Ventouras says.

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Sunrise Resources PLC - industrial mineral projects in Nevada - Sunrise says extension fee of USD100,000 has been received from Tolsa USA Inc, extending the latter's option to buy the Pioche sepiolite project for an increased amount of USD1.4 million has been extended to December 28. "In the event that the purchase option is exercised by Tolsa, the company will retain a 3% ad velorem royalty on future production of sepiolite," Sunrise adds.

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Hydrogen Future Industries PLC - London-based developer of wind-based green hydrogen production system - Begins first mining sector feasibility study, alongside "mining major on a working mine site in the USA". Study is to probe potential for use of "wastewater from tailings as a feedstock to generate clean energy and clean water as a by-product for on-site mining operations". In addition, it strikes a deal with Australia's Capricorn Clean Energy Ltd for work related to Australian Renewable Energy Agency's Regional Microgrids Program. The programme aims to support development of renewable energy microgrids across regional Australia. Also, it says investee Tower Green Holdings Ltd makes "significant progress in building its position as the hydrogen infrastructure developer for Southwest England".

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Cykel AI PLC - London-based artificial technologies firm - Shares suspended with effect Thursday, ahead of a planned announcement.

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Inspiration Healthcare Group PLC - Crawley, England-based medical technology company - Says UK-based operating subsidiaries have achieved Medical Device Single Audit Program certification which confirms quality management systems are in line with EU, US, Japan, Australia and Canada regulatory standards. Inspiration adds: "The MDSAP certification is a global initiative allowing medical device manufacturers to undergo a single regulatory audit to demonstrate compliance with the quality and regulatory requirements of multiple international jurisdictions."

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tinyBuild Inc - Seattle, Washington-based video game developer and publisher - Says crucial special shareholder meeting has been adjourned. Originally scheduled for Thursday, it will now take place next week Friday. tinyBuild says "certain significant stockholders were unable to cast their votes in support of both resolutions" due to public holidays. The resolutions are to approve an open offer fundraise. tinyBuild adds: "The company has received more than 99% of the votes cast to date in favour of both the resolutions and therefore the board is confident that the resolutions will be passed at the adjourned meeting." It adds: "The company reiterates that if the resolutions are not passed at the special meeting or any adjourned meeting, the fundraise will not take place and the proceeds of the fundraise will not be received by the company. Failure to conclude the fundraise by the end of January 2024 will materially compromise the group's ability to meet its financial obligations as they fall due." tinyBuild in December said it raised USD12.0 million from a placing and subscription of new shares at 5 pence each and that it expects to raise USD2.2 million more from an open offer to existing shareholders.

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By Eric Cunha, Alliance News news editor

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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