Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

TRADING UPDATES: LoopUp, Surface raise capital; MaxCyte wins deal

28th Sep 2022 21:38

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

----------

LoopUp Group PLC - London-based software provider for remote meetings - Expects to raise a minimum of GBP3 million in a placing and a subscription at a price of 5.0 pence per share. Estimates that the placing and subscription will represent roughly 57% of its existing share capital. The proceeds will support the next phase of investment in Cloud Telephony and Hybridium, the transfer of meetings customers from PGi Connect, near-term working capital for the company, and strengthen its balance sheet going forward.

----------

Surface Transforms PLC - Liverpool-based manufacturer of carbon fibre reinforced ceramic materials - Proposes a capital raise to raise GBP16.0 million at the issue price of 40 pence per share. It will raise GBP15.8 million through an accelerated bookbuild and GBP200,00 through a subscription. Proposes open offer to raise a further GBP3.0 million with existing shareholders. Plans to use the net proceeds to partially fund the construction cost to increase the revenue capacity of its Knowsley manufacturing facility to GBP75 million from GBP50 million per year. Zeus Capital Ltd and finnCap Group PLC act as joint broker.

----------

MaxCyte Inc - Gaithersburg, Maryland-based platform for cell-based research - Signs a strategic platform license deal with Vertex Pharmaceuticals Inc. Vertex obtains non-exclusive clinical and commercial rights to use MaxCyte's Flow Electroporation technology and ExPERT platform for the development of its CRISPR/Cas9-based gene-edited therapy. To receive platform licensing fees and programme-related revenue. Does not disclose financial details of the deal.

----------

Morses Club PLC - Nottingham, England-based home collected credit provider and online lender - Enters into a voluntary application for the imposition of requirements with the Financial Conduct Authority over customer redress claims for unaffordable lending. Was talking with the UK regulator over customer redress claims. Had previously paused the processing of all new redress claims.

----------

Trinity Exploration & Production PLC - Leeds-based oil exploration company focused on Trinidad & Tobago - Says it "welcomes" the government of Trinidad and Tobago's stated intention to stimulate higher levels of activity and investment in the energy sector as set out in its 2023 Budget Statement. "The government's focus on stimulating the energy sector, and specifically oil production, is to be welcomed and will provide opportunities for Trinity. The supplemental petroleum tax changes for onshore production will positively impact our cashflow, thereby increasing our capacity to reinvest," Chief Executive Jeremy Bridglalsingh comments.

----------

Reabold Resources PLC - oil and gas company with projects in the UK, the US and Romania - Executes a sale and purchase agreement for the conditional acquisition of Simwell Resources Ltd for GBP1 million. Says the transaction increases its footprint in the emerging Zechstein trend in the European Permian Basin.

----------

By Abby Amoakuh; [email protected]

Copyright 2022 Alliance News Limited. All Rights Reserved.

FTSE 100 Latest
Value7,462.72
Change-23.95