27th Feb 2023 15:34
(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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Ince Group PLC - Dagenham, England-based corporate and commercial law firm - Gives update on the publication of its annual report for the year ended March 31, and its interim results for the six months ended September 30. Says its auditor BDO LLP has raised further queries in the final stages of quality control in relation to historical accounting treatments which have been addressed. BDO now requires further time to complete its audit procedures, and the company expects to publish its results in early March. Ince shares are currently suspended from trading on AIM. They last traded on December 30 at 0.05 pence.
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Taylor Maritime Investments Ltd - Guernsey-based vessel investment company - Marks one-year anniversary of a TMI vessel being unable to leave a Ukrainian port in the Black Sea due to Russia's invasion of Ukraine. In accordance with the terms and conditions of our marine insurance, a constructive total loss was agreed with the vessel's insurers. Says the proceeds have been received by TMI and cover the carrying value of the vessel, they will be applied to reduce leverage in line with its commitment to de-gear TMI's balance sheet. The vessel is no longer under TMI's ownership.
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Octopus Renewables Infrastructure Trust PLC - London-based investment trust dedicated to investment in electricity generation assets in countries including the UK, France and Spain - Refinances and increases its multi-currency revolving credit facility. The GBP270.8 million RCF, which was previously GBP150.0 million, has a three-year term to February 24, 2026, and can be drawn in GBP, EUR, AUD and USD. The RCF has an interest rate of 2.0% above sterling overnight index average. The facility has been provided by a group of four lenders: National Australia Bank, NatWest Group PLC, Banco Santander SA and Allied Irish Banks. Expects to use the RCF to fund existing construction commitments, to repay short-term facilities within the company and for future acquisitions of new renewable energy assets.
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Guild Esports PLC - London-based e-sports company - Launches Guild Studios. Says Guild Studios is its "new production and creative division that provides bespoke campaign-led solutions for brands and media owners looking to connect with esports, gaming, Gen-Z and Gen-Alpha audiences." Adds that it represents a new revenue stream for the company. Since its "soft launch" in January 2023, Guild Studios has secured client mandates with brands including Samsung Mobile. Chief Executive Jasmine Skee says: "Creating new revenue streams and generating value for investors are the Company's key objectives for 2023. Guild Studios enables us to monetise our vast in-house expertise in esports by supporting brand owners and sponsors with innovative campaigns, branded content and advertising to a range of companies looking to grow their engagement.
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Tekcapital PLC - London-based intellectual property investment group - Says its portfolio company MicroSalt Ltd has announced that both sizes of its new line of low sodium salt shakers are now available through United Natural Foods Inc and KeHE Distributors, two US-based retail food distributors. MicroSalt, is the developer and manufacturer of a proprietary low-sodium salt called MicroSalt; Tekcapital owns 97% of MicroSalt. Also says it has received orders from Pete Markets in Illinois and Busch's Market in Michigan for the new MicroSalt low sodium salt shakers. "Excess sodium intake is one of the world's greatest health concerns, and partnerships like these are the best way to make a difference in our efforts to address the sodium challenge," says MicroSalt Chief Executive Rick Guiney.
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UK Oil & Gas PLC - oil and gas exploration and production firm with assets focused on the south of England - Says it has now installed three, shallow, groundwater monitoring boreholes at its producing oil field Horse Hill-2z. UKOG holds an 86% interest in Horse Hill. The water injection programme seeks to improve the field's net earnings by around GBP250,000 per year. "The new boreholes are a key step towards delivering HH-2z produced water reinjection, ultimately designed to help reduce operating costs by some GBP250,000 per year and improve the field's oil recovery. The work is fully in keeping with current environmental standards and practices and demonstrates UKOG's responsible attitude towards ensuring the area beneath the site remains as well protected as possible," UKOG Chief Executive Stephen Sanderson says.
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By Sophie Rose, Alliance News reporter
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