4th Jul 2024 13:33
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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itim Group PLC - retail software solutions provider - Signs five-year multi-million-pound contract with Assai Atacadista, the largest Brazilian wholesaler, with more than 300 stores. Says the "significant" contract follows the recent announcement that Assai will be expanding its operations across multiple regions, further strengthening its market presence. Under this agreement, Assai will leverage itim's Unify price & promotions optimisation solution to refine its pricing strategies and boost competitiveness. itim notes Unify is now is being used by 20 retailers globally and by 6 of the top 10 Brazilian retailers. "The execution of this contract is in line with the company's financial expectations for the current financial year," company says.
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Tekmar Group PLC - Darlington, England-based technology and services provider for global offshore energy markets - Agrees with Barclays Bank PLC a renewal of its existing banking facilities. The existing trade loan facility remains available to Tekmar with the next annual review date in June 2025. This facility of up to GBP4 million can be drawn against supplier payments and is provided with support from UK Export Finance. In addition, the GBP3 million Coronavirus Business Interruption Loan facility is extended by a further 12 months to October 2025. This completes the renewal of the group's existing facility and financing arrangements.
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Deltex Medical Group PLC - manufacturer of blood circulation monitoring systems - Says revenue in the six months ended June 30 is GBP1.06 million, flat from a year earlier. Notes positive earnings before interest, tax, depreciation and amortisation for two months during the first half, and expects continued improvement in the second half.
Looking ahead, Deltex says its confident for the rest of the year. Chair Nigel Keen says: "We have made good progress during H1 in selling and creating pipeline for the new TrueVue System into the UK and EU with many of our European distribution partners purchasing the new monitors and starting to give clinical demonstrations to their customer base."
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Technology Minerals PLC - London-based battery metals recycling firm - Says the deal to buy the remaining issued share capital of Recyclus is progressing with further interactions with the Financial Conduct Authority. Technology Minerals had targeted posting the prospectus for shareholder approval by the end of June 2024, but the process has taken longer than anticipated as the company continues to work through the process and respond to questions put to it by the FCA. Further iterations of the prospectus have been submitted for consideration and the company will update the market on progress in due course. Further, says Recyclus has commenced setting up a new discharge and dismantle unit for Li-ion batteries at its Wolverhampton site.
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Aura Energy Ltd - clean energy minerals exploration company focused on the development of the Tiris uranium project in Mauritania - Provides an update on the development activities at the Tiris Uranium project in Mauritania, West Africa. Appoints West African project director Jan Booyse and his company, Project EQ, to lead the project development at Tiris. Appoints Kenmore Mine Consulting to complete a mine plan optimisation review and Lycopodium to oversee an optimisation and project enhancement study. In addition, names Knight Piesold Consulting to oversee water resource drilling in the abundant and proximate Taoudeni Basin.
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Fusion Antibodies PLC - Belfast-based contract researcher, which provides discovery, design and optimisation services for therapeutic antibodies to the healthcare market - Highlights momentum through the first quarter of the current financial year ending March 31, 2025.
Says Q1 revenue around GBP522,000 more than doubled from GBP241,000 a year prior. Notes a consistent and strong sales pipeline, with an order book at June 30 of approximately GBP700,000. Chief Executive Adrian Kinkaid says: "We are on track and on plan. It is particularly encouraging to see the continuing improvement in revenue recognition rates which are supported by further new orders and work in progress. This validates our strategy and puts us on track to meet our plans to ensure that Fusion is not only sustainable but becomes the thriving business which it deserves to be."
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IntelliAM AI PLC - software company - Completes the acquisition of 53 Degrees North Engineering Ltd.
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Altona Rare Earths PLC - Africa-focused resource exploration and development company - Further to announcement in June, receives additional GBP4,000 subscription from an existing shareholder. In total, this brings the amount raised to GBP1.3 million of which GBP394,000 is equity and GBP900,000 is in debt facilities. Further, says Altona and Ignate African Minerals Ltd have agreed to extend the exclusivity period of the option agreement until July 17.
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Eco Buildings Group PLC - London-based housing and construction group - Completes and sells its first full building. Notes this follows the recent announcement of an upgrade to fully automated production at its panel manufacturing facility in Durres, Albania. This allows the company to produce panels at a higher rate and a lower cost than previously forecast. Chief Executive Sanjay Bowry says: "The construction and sale of our first complete building to a customer in Albania is an important milestone for Eco Buildings."
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By Jeremy Cutler, Alliance News reporter
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