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TRADING UPDATES: Marula Mining to acquire 70% interest in Future Gems

3rd Oct 2023 17:55

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


Marula Mining PLC - Africa-focused mining investment company - Announces that itself and its wholly-owned South African subsidiary, Marula Lithium Mining South Africa Pty Ltd, have entered into binding heads of agreement with South African mining and exploration companies Opencast Resources Pty Ltd and Future Gems Pty Ltd. The heads of agreement is to secure a 70% interest in Future Gems from Opencast Resources, the holder of the Korridor 21 prospecting right in the Northern Cape province of South Africa. Acquisition to be satisfied through an initial consideration of GBP125,000 in Marula shares along with a cash payment of up to USD50,000.


Gran Tierra Energy Inc - company focused on oil and gas exploration and production in Colombia and Ecuador - Announces the early participation results of its previously announced offer to exchange any and all of the outstanding 6.25% senior notes due 2025 issued by Gran Tierra Energy International Holdings Ltd on February 15, 2018, and any and all of the outstanding 7.75% senior notes due 2027 issued by Gran Tierra Energy on May 23, 2019, for newly issued 9.50% senior secured amortizing notes due 2029. Says USD247.6 million in aggregate principal amount outstanding of the 2025 notes, representing around 91% of the total principal amount outstanding of the notes, and USD274.2 million in aggregate principal amount outstanding of the 2027 notes, representing approximately 91% of the total principal amount outstanding of the notes, had been validly tendered for exchange.


Petrofac Ltd- St Heller, Jersey-headquartered service provider to the energy industry - Wins an engineering, procurement and construction contract from ADNOC Gas, part of Abu Dhabi National Oil Co, for its Habshan carbon capture, utilisation and storage project. The contract is valued at more than USD600 million and involves the delivery of carbon capture units, associated pipeline infrastructure and a network of wells for carbon dioxide recovery and injection.


RBG Holdings PLC - London-based legal and professional services firm - Notes that Dowgate Wealth Ltd now holds 7.9% of the voting right attached to its shares, up from no interest previously.


By Heather Rydings, Alliance News senior economics reporter

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