1st Apr 2025 14:11
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Litigation Capital Management Ltd - Sydney-based asset manager and provider of dispute financing - Reports "unsuccessful" commercial arbitration at London Court of International Arbitration. LCM had funded the claimant. "The tribunal found against LCM's funded party. The subject matter, findings and funding terms remain confidential. As is typical in commercial arbitration, the avenues for appeal are limited. LCM is currently assessing potential next steps in collaboration with the funded party and legal representatives," LCM adds. LCM says it invested GBP2.5 million into the case, alongside GBP7.5 million from Fund I. "While this outcome is disappointing, we remain steadfast in our confidence in the strength of our broader portfolio. Legal finance inherently involves binary outcomes, and while this case did not deliver the expected result, our long-term track record demonstrates our ability to generate strong returns. We continue to believe in the substantial value embedded in our portfolio and remain focused on delivering successful outcomes for our investors," CEO Patrick Moloney says.
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Angus Energy PLC - UK-focused onshore oil and gas developer - Reports "minor delay" on delivery of last items of equipment in connection to commissioning of new booster compressor at the Saltfleetby gas field in Lincolnshire. Equipment is "now scheduled to arrive today". Angus adds: "Start-up is confidently expected to occur before the end of the week." The booster compressor will be in addition to existing two compressors at the field. The compressors help to separate liquid hydrocarbons from the gas stream "and to pressure the field's sales gas for entry into the National Grid", Angus explained in February. "The new compressor will maintain inlet pressures into these two compressors as reservoir and well head pressure declines with depletion, increasing production levels in the short term and field recovery over the life of the field," it added at the time.
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Quadrise PLC - supplier of emulsion technology, fuels and biofuels for the power generation, shipping and industrial sectors - Quadrise signs a services supply agreement with MAC2 Solutions NV for the production of MSAR and bioMSAR fuels. It is for Quadrise's forthcoming trial on board the MSC Leandra V vessel, due to begin this quarter. "MAC2 will be responsible for the supply of jetty space, utilities, permits and ad-hoc support services during the Trials, whilst Quadrise will be responsible for the provision of MSAR and bioMSAR technology and fuel production equipment and personnel," Quadrise adds.
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Kazera Global PLC - mining investment firm focused on early-stage assets - Whale Head Minerals (Pty) Ltd subsidiary issues first invoice for sale of 10,000 metric tonnes of heavy mineral sands to Fujax South Africa (Pty) Ltd as part of a sales and offtake agreement. "This initial sale of 10,000 tonnes surpasses the originally expected initial sale of 6,000 tonnes. The commencement of HMS sales marks a significant milestone for both WHM and the group. It also highlights the growing strength of WHM's operations and its increasing contribution to Kazera's overall success," Kazera adds.
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KRM22 PLC - technology and software investment company focused on risk management for capital markets - Interest repayment date for GBP5.0 million convertible loan with Trading Technologies International Inc has been deferred. The loan was entered into in June 2023. Trading Tech is KRM22's largest shareholder. Interest repayments that would have been due by end of March have been moved to end of April. "This is to give the company and TT adequate time to conclude negotiations of amending the terms of the Facility," KRM22 adds. The firm notes that GBP4.5 million of loan has been drawn to date.
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Cooks Coffee Co Ltd - Auckland, New Zealand-based coffee chain - Finalises NZD1.6 million loan facility with 15-year term, as well as NZD1.0 million loan with five-year term. Each loan is with Bank of New Zealand. "The loan facilities have enabled Cooks Coffee to repay or refinance all existing debt, and provide further funding to support the group's ongoing operations and strategic initiatives," Cooks adds.
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By Eric Cunha, Alliance News news editor
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