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TRADING UPDATES: ImmuPharma waits on FDA; IDE Group waits on audit

31st Aug 2022 21:41

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

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ImmuPharma PLC - specialist drug discovery and development company - Says US partner for Lupuzor, Avion Pharmaceuticals, yet to meet US Food & Drug Administration. "The company is in close contact with Avion and have been advised that the FDA is experiencing general delays in meeting response dates and that this is not specific to Avion and the Type C meeting for Lupuzor. The company will notify the market as soon as practicable once a response from the FDA has been received," it adds.

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IDE Group Holdings PLC - Edinburgh-based network, cloud and IT managed services - Auditors request further time to complete work on firm's 2021 results. "The delay in publication relates to the cumulative impact of Covid, including related staff absences from Covid and the resulting knock on impact on the audit process, as previously announced," it says. Expects release before end of September. Had already delayed results, and was expecting them towards the end of July. Previously notes results are expected to show trading Ebitda of GBP3.0 million, but this could "potentially increase" as a result of various potential non-trading audit adjustments.

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Galantas Gold Corp - Northern Ireland-focused gold producer - Closes CAD6.9 million, about USD5.3 million, private placement, after upping fundraising with previously hoping to raise CAD4 million. Sells 14.8 million units at CAD0.45 each and further 506,667 units at same price. Each unit holds one share and one-half share warrant. Each warrant can be exchanged for one share, at CAD0.55, until February 28. "The company intends to use the net proceeds of the upsized offering for exploration and development at the Joshua Target as well as for working capital and general corporate purposes," it has previously said.

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Castillo Copper Ltd - Perth, Australia-based exploration company focused on copper across Australia and Zambia - Appoints two contractors for the upcoming drilling campaign at the Broken Hill Alliance project's East zone. Drilling expected to begin in fourth quarter, subject to regulatory approval from Australia's NSW resources regulator. Managing Director Dennis Jensen "delighted" with appointment of AllState and FieldCrew.

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Phoenix Global Resources PLC - London-based upstream oil and gas company focused on Argentina - Says shareholder holding 2% of issued capital sends letter to firm about "certain claims alleged against the company and other parties." Adds: "The board is taking legal advice in relation to the letter and believes the claims that it alleges to be without merit." Has previously proposed delisting from AIM and the Buenos Aires Stock Exchange, providing a "cash exit opportunity for shareholders" in the process. Major shareholder Mercuria Energy Group Ltd, which holds an 84% stake, proposes purchasing shares at 7.5p each under the exit opportunity, a 25% premium to its closing price on June 25, the day before it discussed a potential delisting with Mercuria. Will hold general meeting on September 1 to gain at least 75% shareholder approval for the delisting and the scheme.

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By Paul McGowan; [email protected]

Copyright 2022 Alliance News Limited. All Rights Reserved.

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