2nd Mar 2026 16:11
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Home REIT PLC - London-based investor in the UK social housing sector - Exchanges on the sale of a 706 property portfolio to Patron Capital for GBP123.0 million. The assets represent the majority of its portfolio. Completion is expected no later than April 1. "The disposal follows an extensive process undertaken by Home REIT and its advisers which commenced in Q4 2024 with non-binding offers for the portfolio received in February 2025," Home REIT says. The remaining properties in its portfolio were valued at GBP17.4 million in August. "The sales process in relation to the majority of these properties is expected to conclude in the first half of 2026," Home REIT adds. "While it remains the aspiration of the board that capital will be returned to shareholders upon the completion of the realisation strategy, shareholders should be aware that the timing and quantum of such distributions remains highly uncertain. The ability of the company to make distributions to shareholders continues to be constrained whilst the company faces potential group litigation or other claims. The board is continuing to work with its advisers to determine an appropriate mechanism for, and timing of, any return of capital."
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Hercules PLC - Cirencester, England-based labour supply company for the UK infrastructure and construction sectors - Subisdiary Advantage NRG wins new work with a combined contract value of GBP6.7 million across the National Grid network in England. "The new works run from March to October 2026. At peak delivery, the contracts will require up to 79 skilled operatives, demonstrating Advantage NRG's expanding operational scale and technical capability. These works show there is growing demand for the delivery of linesman teams as electricity network operators accelerate investment in resilience and capacity," Hercules adds.
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Lords Group Trading PLC - London-headquartered building materials distributor - Lords reports the seller of AW Lumb chooses to receive the deferred consideration due in 2026 in cash. "With total 2026 deferred cash consideration of GBP600,000 now paid, remaining acquisition consideration, of an aggregate of GBP480,000, remains payable in February 2027," Lords adds. Lords acquired independent builders' merchant AW Lumb for GBP23.1 million in cash in March 2022, with GBP19.5 million due on completion and GBP3.6 million to be paid in equal annual instalments over the next five years.
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Helical PLC - London-focused property developer - The firm exchanges contracts to lease 19,628 square feet of space at The Bower asset in Old Street, London. "incident.io, the all-in-one AI platform for on-call, incident response, and status pages - built for fast-moving teams like Netflix, Etsy, and Lovable - is due to move to Levels 5 & 6 of The Tower in June this year," Helical adds. "The letting, which is in line with current ERVs, represents a third of the available space at the campus and increases total occupancy at The Bower to 87%. With negotiations progressing on the remaining vacant space, as well as with existing occupiers around a number of re-gears, further updates are expected in the near future."
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Safestay PLC - London-based hostel operator - Safestay says a tough trading backdrop continued at the end of 2025. It expects to report 2025 revenue of GBP20.6 million, down from GBP23.0 million in 2024. Adjusted earnings before interest, tax, depreciation, and amortisation are to fall to GBP3.9 million from GBP6.5 million, "reflecting the revenue performance as well as inflationary pressures, in particular, higher staff costs across several of the group's UK and European properties". Total bed nights in the period decreased by 6% to 877,674 and the average bed rate fell at the same pace to GBP20.07. Safestay says: "Current occupancy levels are in line with the comparative period in Q1 2025, but ABR in the year to date is approximately 20% ahead of the prior year reflecting management's focus on increasing pricing. The board expects RevPAB to strengthen throughout 2026 which should have a positive impact on the group's Ebitda." It says cost pressures are continuing in some destinations. However, the firm "remains positive" about its prospects going forward.
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FIH Group PLC - services provider in Falkland Islands and UK, including construction, ferry operation, and art storage - The firm agrees the sale of Portsmouth Harbour Ferry Co Ltd to TC Gosport Bidco Ltd for GBP11.6 million. The parent of TC Gosport is TC UK Topco Ltd, the indirect majority owner of Uber Boat by Thames Clippers. "The proceeds from the sale are likely to be predominantly utilised for a combination of re-investment within the remaining companies in the group and a return to shareholders," FIH Chief Executive Stuart Munro says.
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Litigation Capital Management Ltd - asset manager focused on dispute financing - A debt covenant waiver from Northleaf, which had been due to expire in February, has been extended to April 15. "During the extended waiver period the interest on the loan remains increased by 2.00% per annum consistent with the initial waiver. There is no additional one-time waiver fee in relation to this extension," LCM adds. "The strategic review that was first announced on 15 September 2025 continues to progress and this waiver extension is reflective of Northleaf's ongoing support while LCM works towards a long-term resolution of its capital position."
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RM Infrastructure Income PLC - Edinburgh-based investor focused on secured debt instruments of UK small and medium-sized enterprises - RM Infrastructure plans to return around GBP13 million to shareholders through a tender offer, amid its ongoing wind down. "The company will make further announcements in relation to the tender offer and its timings in due course," RM Infrastructure adds.
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Powerhouse Energy Group PLC - Bingley, England-based firm focused on turning non-recyclable waste into low carbon energy - Powerhouse Energy signs a marketing agreement with Green Gecko Energy Ltd, a consultancy. Green Gecko is to be the firm's sole agent with a view to "introducing Powerhouse to potential opportunities across the Abraham Accord countries, the wider MENA and GCC region, and certain countries within Asia". Abraham Accord nations include Israel, Bahrain, the UAE, Morocco and Sudan. The agreement aimed to establish diplomatic normalisation between Israel and a number of Arab states. The GCC includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. The deal with Green Gecko is on a "no win no fee basis". "Any payment by the company to Green Gecko will be made on a commission basis, and satisfied through a combination of cash and options over up to 3% of the company's current share capital (exercisable at a price of 0.5 pence) wherein specific construction related milestones (and associated payments to PHE) are achieved by the projects introduced by Green Gecko," the firm adds.
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Eco Atlantic Oil & Gas Ltd - Atlantic margin-focused oil and gas explorer with offshore license interests in Guyana, Namibia and South Africa - Navitas Petroleum LP, which Eco Atlantic has a framework deal with concerning "several assets"m has struck a definitive farm-in agreement with JHI Associates Inc. Eco holds 6.6% of JHI. "Under the farm-in agreement Navitas is to acquire a 65% working interest in the PL001 North Falkland's Basin licence," Eco adds.
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By Eric Cunha, Alliance News news editor
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