10th Apr 2026 21:05
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Eleco PLC - London-based software provider for the construction and built environment sectors - Sells wholly owned subsidiary Veeuze GmbH, a German-based visualisation business, to 3A Consult UG via a management buy-out for an initial EUR1. Eleco believes the disposal reinforces its strategic focus on its core and higher growth Building Lifecycle businesses plus a continued emphasis on shareholder value. In addition to the EUR1 consideration, Eleco is entitled to a share of the annual profit after tax over a 5-year period to 2030, capped at EUR250,000. Eleco notes that after a period of challenging market conditions, Veeuze became increasingly non-core and required a level of ongoing investment not aligned to the firm's strategic priorities.
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Pennpetro Energy PLC - London-based developer of "strategic traditional and transition energy projects" in Ukraine, US and Canada - Chief Executive Mavriky Kalugin is to head to Texas next week with the intention of returning the first, of at least one of the company's wells, to production in the near term. The CEO will focus on the steps necessary to enable restarting of production at the Chalk Talk A-1H well. Work is projected to begin shortly, pending ongoing confirmation of terms for the lapsed lease over that well location, which includes the payment to the lease owners of unpaid royalties owed on the oil extracted in the past from the same. RMD Group have committed funding to allow for the full resumption of operation, including legacy issues to be cleared.
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Ilika PLC - Romsey, England-based solid-state battery technology company - Announces a GBP214,000, 12-month joint development programme supported by the Battery Innovation Programme to integrate its 10Ah Goliath prototypes into Brompton's battery packs for its next generation of foldable e-bikes. The programme will commence at the start of July and will see production of the battery packs and on-bike trials, subject to technical milestone delivery, by mid-2027.
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CPPGroup PLC - Leeds, England-based provider of digital financial services - Says it is exploring strategic options for Blink Parametric Holdings Ltd, its digitally focused parametric InsurTech business. CPPGroup says it is encouraged by the level of external interest in Blink and has received proposals and expressions of interest, including from strategic industry participants, in relation to a potential acquisition or combination involving the business. The proposals reflect valuation levels which are "significantly in excess" of the group's current market capitalisation, reinforcing confidence in Blink's underlying value and future growth potential. No terms have been agreed at this stage.
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Sunda Energy PLC - Southeast Asia-focused gas resource company - Raises GBP404,780 via its WRAP retail offer.
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Rockfire Resources PLC - London-based mining firm targets metals and critical minerals, with assets in Australia as well as Greece, where it owns 100% of the Molaoi zinc deposit - Provides a drilling update from Rockfire's 100%-owned Molaoi zinc deposit in Greece. Says diamond drilling to upgrade the Inferred Resource to Indicated Resource status continues with drilling of hole HMO-015 going well and currently in progress. Results from several holes have recently been received from the laboratory and Rockfire says that strong germanium grades continue to be intersected all the way through the southern zones of the resource area. A break in drilling activities will occur and is expected to recommence on April 20. Rockfire says it has committed to the acquisition of its own drilling rig. "This cost will be met from existing cash reserves, and no additional raising will be required to finalise this acquisition," it adds.
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Fair Oaks Income Ltd - Guernsey-based investor which specialises in collateralised loan obligations - Plans to transition the company's reporting and dividend currency from USD to EUR to better reflect the underlying composition of the portfolio, simplify its operations, and eliminate the costs associated with hedging EUR portfolio exposures into USD. In addition, plans 1-for-10 share consolidation to improve "trading dynamics, liquidity and market perception".
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By Jeremy Cutler, Alliance News reporter
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Related Shares:
ElecosoftPennpetro EnergyIlika PlcCppgroupSunda EnergyFair Oaks IncRockfire Resources