Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

TRADING UPDATES: Goldplat nine-month operating profit falls

5th May 2023 19:25

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

----------

Goldplat PLC - London-based gold recovery services company, which has operations in South Africa and Ghana - Reports operating profit in the nine months to March fell by 20% to GBP4.8 million from GBP6.1 million a year prior. Explains lower profit reflected reduced operating performance in South Africa of GBP1.2 million, down from GBP1.6 million and in Ghana of GBP295,000, more than halved from GBP659,000. Despite reduced operating performance, the company still expects to meet market expectations for the current financial year.

----------

Supply@Me Capital PLC - London-based fintech platform - Announces the execution of the first Inventory Monetisation transaction using traditional funding sources. Follows previous announcement on April 26 in which company said it had secured a binding commitment provided by an institutional investor to invest in the IM transaction. Explains the counterparty to the IM transaction is an Italian client company, which is one of the "market leaders" in the tyre re-treading sector. The total expected average annual fees to be invoiced over the duration of the IM transaction, equates to around 2.7% of the gross value of the client company's inventory to be monetised, towards the upper range the company expected. Up to EUR10 million of warehoused goods could be monetised as part of the deal.

----------

Peel Hunt LLP - London-based stock broker and investment bank - Says appointed as sole book runner in connection with the sale of 1.25 million ordinary shares in Lok'nStore by Andrew Jacobs LLP to institutional investors. Notes the ultimate beneficiary of Andrew Jacobs LLP is Andrew Jacobs, Lok'nStore's Chair. Explains the proposed sale will broaden Lok'nStore's institutional shareholder base and potentially increase liquidity while also allowing Andrew Jacobs to diversify his investments and financial interests. Adds placing price is 800 pence per share. Notes following the placing Andrew Jacobs will remain the largest shareholder. Subsequently, confirms completion of the above placing. Adds Andrew Jacobs now holds 14.5% interest in Lok'n'Store.

----------

Power Metal Resources PLC - metals exploration company, focused on North America, Africa and Australia - Announces exploration update from the Berringa Gold Mine Project in Victoria, Australia. Says the diamond drilling programme consisted of 988 metres in six drill holes, four of which encountered visible gold mineralisation. Notes all drill holes returned gold mineralisation in laboratory assay test results. Multiple gold mineralised intersections were encountered including drill hole BE23D002 which returned 5.2 metres at 2.38 grams per tonne of gold. Says key objectives of this drill programme have been met with drilling successfully intersecting the down dip and along strike extensions of previously mined Berringa gold mineralised quartz reefs. Notes results will be analysed before further exploration is announced.

----------

LSL Property Services PLC - Newcastle, England-based estate agency - Confirms execution of franchise agreements in respect of 23 LSL branches. Notes this is further to the announcement of May 4 that its entire owned agency network would convert to franchises. Final completion had been slightly delayed pending confirmation that routine insurance arrangements had been put in place.

----------

Pantheon International PLC - investment trust focused on private equity assets managed by third-party managers - Says The November 1990 Trust, a company associated with Director John Burgess, buys 30,785 shares at GBP2.58, worth GBP79,425, on Friday.

----------

Hyve Group PLC - London-based events organiser - Says court hearing to sanction the scheme of arrangement relating to the bid for company by Providence Equity Partners is expected May 18. Last day of trading in Hyve shares expected on May 19. Effective date of the scheme is likely to be May 22, with cancellation of Hyve Shares on May 23.

----------

By Jeremy Cutler, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

FTSE 100 Latest
Value7,722.55
Change0.00