25th Apr 2025 21:39
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
----------
Northcoders Group PLC - Manchester-based software coding training provider - Announces that the Government has now confirmed that the Department for Education contract will not be extended beyond the initial 18-month period announced on January 16, 2024. The contract provided Northcoders with GBP10 million to train individuals. The government intends to move to a fully regional funding model with new regional contracts provided by ringfenced grants that the DfE allocates to mayoral combined authorities, the Greater London Authority and some local authorities. Northcoders is already well-engaged with these stakeholders across the UK, and confirms that it is in the latter stages of bids in a number of localities. Remains confident in meeting current market expectations. Will continue to focus on diversifying revenue streams and will ensure the cost base is aligned with future income.
----------
Argentex Group PLC - London-based currency risk management firm - Agrees GBP3 million cash bid from IFX (UK) Ltd worth 2.49 pence per share. In addition, IFX provides a secured bridging loan of GBP6.5 million to Argentex and the two parties are in discussions regarding the provision of further liquidity support. IFX bid receives irrevocable undertakings of 58% so far. Argentex considers bid "fair and reasonable". On Tuesday, Argentex said it has experienced a rapid and significant impact on its near term liquidity position, driven by, margin calls linked to its forex forward and options books. Argentex believes the acquisition, bridging loan and further support will provide sufficient working capital to ensure the business remains solvent. IFX Payments believes the strategic acquisition is a "compelling" proposition. IFX Payments is a global fintech company headquartered in London. Argentex Chair Nigel Railton says: "This has been an extremely challenging last few days for Argentex but following swift action by the board and its advisers, we believe that through the acquisition we have secured the best outcome in very difficult circumstances for Argentex shareholders."
----------
Enteq Technologies PLC - London-based developer of technologies for measurement, logging and geo-steering - announces the conclusion of the formal sales process it announced in late January. Says there is no realistic prospect of receiving a takeover offer in the near-term future, and as a result there is no merit in continuing the sales process at this juncture. Company is therefore no longer in an offer period. Intends however to "engage with parties that are interested in the acquisition of the business, assets and IP within the Enteq group outside the auspices of an FSP". Enteq furthermore says that it has been taking all necessary and appropriate steps to reduce all expenditure, while protecting the value of any assets which may contribute to creditor and shareholder returns, in co-operation with advisers. Has a USD602,000 cash balance as of Friday, giving it an anticipated cash runway until mid-May. Says its Saber equipment will remain in Houston and has been prepared for further active test drilling operations. Adds that the Australian customer which has been undertaking the testing "remains engaged and interested in the potential of this technology for their operations and will be ready to run the equipment again when the rig schedule and availability of Saber equipment permits".
----------
Inspired PLC - Isle of Man-based energy and sustainability advisor - Says its largest shareholder, Gresham House, indicates that it believes the unsolicited cash offer announced by Regent Acquisitions 2025 Ltd on Tuesday "fundamentally undervalues" Inspired and that Gresham House has no current intention to accept it. Gresham House holds just under 30% stake in Inspired.
----------
Marula Mining PLC - Signs binding terms sheet with Botswanan exploration company Geowise Resources (Pty) Ltd to acquire up to a 70% interest in the Boteti lithium brines project located in the Makgadikgadi desert salt pan in the Boteti district of the Republic of Botswana. The project comprises three granted prospecting licences within the Makgadikgadi desert salt pan, an area recognised for its extensive brine resources and significant mineral potential, including concentrations of lithium and potash, among other critical minerals. Marula will issue 250,000 shares at 4.0 pence each to Geowise to acquire an initial 50% interest in the project. A further issue of new ordinary shares to the value of GBP10,000 will be issued on completion of the company's final due diligence. In addition, Marula will further fund 100% of the exploration, feasibility studies and mine development work necessary to advance the project through to production. On completion of a successful feasibility study, Marula will issue shares worth GBP250,000 and have the option to increase its interest to 70% through the issue new ordinary shares valued at GBP100,000.
----------
Ecofin US Renewables Infrastructure Trust PLC - invests in renewable energy and sustainable infrastructure assets located in US - pretax loss widens to USD54.0 million in 2024 from USD6.7 million a year prior. Loss per share is 39.09 US cents compared with 4.87c. Losses on investments rise to USD55.2 million compared with USD10.6 million.
----------
Datalex PLC - Dublin-based software company, which specialises in digital retail technology for the airline market - announces the launch of a new product, DLX Pay. In addition, Datalex announces it has signed its launch customer, Air Transat, with a go-live planned for later this year. Chief Executive Jonathan Rockett says: "Datalex is on a mission to transform how airlines retail, and payments are a critical component of this. We see a significant opportunity ahead for airlines to make strides in this area. I am thrilled to announce the launch of DLX Pay and delighted that we will be bringing this product live with Air Transat later this year." Adds: "We see proven market demand for a payment solution that is designed with travel at its core. DLX Pay will enable airlines to connect with an ecosystem of payment providers, improve payment conversion and ultimately give their customers a more convenient and better payment journey."
----------
MyHealthChecked PLC - Cardiff, Wales-based consumer home-testing healthcare company - Says certain elements of the VAT claim, previously disclosed, have been accepted by HRMC. Now expects a net cash repayment receivable of up to GBP0.6 million dependent on the ongoing discussions. If accepted in full, company would received GBP1.7 million.
----------
By Jeremy Cutler, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Northcoders GrpArgentex Group.Enteq TechInspiredEcofin U.s. $Ecofin U.s.DatalexMyhlth Chck