13th May 2024 21:08
(Alliance News) - The following is a round-up of updates by London-listed companies, issued last week and not separately reported by Alliance News:
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Orcadian Energy PLC - oil and gas development company - Last week Tuesday says to be offered further licence in the Southern North Sea in addition to two Central North Sea licences offered by UK North Sea Transition Agency in January. "The SNS licence contains an existing discovery with a high inerts content (Earlham) and an exciting undrilled prospect (Clover)," it says.
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Infrastructure India PLC - infrastructure fund investing directly into assets in India - Reports extension of maturity dates of all its debt facilities. These are the IIP Bridge Facility LLC term loan, the working capital loan provided by GGIC Ltd and the bridging loan provided by Cedar Valley Financial. "The term loan has also been increased by a further USD2.5 million for general working capital purposes and funding of its underlying assets," the firm says. Maturity dates of loan extended to July 15. Principal of term loan now stands at USD121.5 million.
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Asian Energy Impact Trust PLC - investment company focused on sustainable energy infrastructure assets in Asia - Receives USD5.6 million from investment in Negros Island Solar Power Inc. The firm adds: "The monies received arise after successful collaboration with the joint owners to approve a partial redemption of shares in NISPI. Following this cash return, the level of economic ownership and percentage of voting rights that AEIT holds in NISPI remains unchanged. On a pro forma basis, the return is broadly NAV neutral for the company."
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Agronomics Ltd - venture capital firm which invests in cellular agriculture companies - Portfolio company Good Dog Food Ltd, or Meatly, achieves "significant" milestone. It relates to "developing a protein-free culture medium costing only one pound per litre". Agronomics says: "Culture medium is an essential element in the production of cultivated meat, providing cells with the nutrients required for in vitro viability and proliferation." It adds: "Medium costs account for a significant portion of the costs of producing cultivated meat and reducing them is a well-known hurdle the industry faces as it looks to scale up and achieve price parity with conventional meat products." Agronomics notes medium components include "fetal bovine serum and albumin". Meatly's offering does not use these components, however. Its "protein-free culture medium at an industrial scale is economically viable", Agronomics adds.
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Centaur Media PLC - London-based business consultancy group - Waterland Private Equity Investments announces Tuesday it will not make a bid for Centaur. Development follows a "highly preliminary expression of interest" from Waterland in April.
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By Eric Cunha, Alliance News reporter
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