12th Dec 2025 20:30
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Tern PLC - internet-of-things focused investor - Talking Medicines Ltd issues Tern with GBP230,000 of new unsecured convertible loan notes in return for Tern agreeing to cancel existing short-term loans totalling GBP180,000. These were provided by Tern to Talking Medicines during 2024 and 2025. The CLNs carry an interest rate of 10% per annum and the CLN's principal amount and accrued interest are convertible on either an exit or a fundraising of at least GBP2 million undertaken by Talking Medicines, in both cases at a 20% discount to the exit or fundraising price. As at June 30, the date of Tern's last published book valuation, Tern's equity and convertible loan note holding in Talking Medicines was worth GBP2.1 million. Following the issue of the CLN, Tern's holding in Talking Medicines will be unchanged and Tern will continue to hold just under 24% of Talking Medicines' equity, but now with an increased total convertible loan note holding of GBP520,000.
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Gresham House Income & Growth VCT and Gresham House Income & Growth 2VCT - London-based venture capital trusts - The boards of the companies announce that they intend to launch offers for subscription for new ordinary shares during the 2025/2026 tax year. The prospectus is planned to be available around late January 2026, subject to FCA approval.
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Sancus Lending Group Ltd - London-based alternative financial services provider - Issues GBP650,000 worth preference shares in subsidiary Sancus Loans Ltd to Somerston Fintech Ltd, a subsidiary of Somerston Group, the majority shareholder of the company. The issue which has a non-cash, cumulative coupon of 15% and matures in November next year, has been made under the Somerston junior funding commitment of up to GBP10 million, announced in January. Following the preference share issue, just under GBP3.0 million of the Somerston junior funding commitment remains undrawn.
Sancus says the preference share issue will increase the capital deployed in Sancus Loans Ltd used for one of the group's existing funding lines, enabling it to grow the group's loan book.
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Franklin Global Trust PLC - Edinburgh-based investor formerly known as Martin Currie Global Portfolio Trust PLC - Zehrid Osmani, co-portfolio manager of the company, steps down from his portfolio management role effective Friday. Jonathan Curtis, chief investment officer of Franklin Equity Group will continue in his role as co-portfolio manager and Jonathan Regan will join Curtis as co-portfolio manager.
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MicroSalt PLC - London-based provider of low-sodium salt products - Raises GBP230,000 via retail offer which closes Friday. Says the retail offer is well supported by existing shareholders, and the proceeds provide additional funds to use to support in staffing, marketing and for general working capital purposes. Alongside the subscription, the funds raised substantially strengthen the balance sheet, and support growth plans, with projected revenues of in hand volume requirements totalling USD7.0 million in 2026 and over USD15.0 million in 2027. Chief Executive Rick Guiney says: "We are delighted to see ongoing support from our long-standing, loyal shareholders, alongside a strong influx of new investors joining our register. This continued confidence in the company underscores the strength of our strategy and positions us well to capitalise on our increasing production schedules in 2026, unlocking value and driving profitability across the business."
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Celsius Resources Ltd - Philippines-focused gold and copper producer - Announces a maiden Joint Ore Reserves Committee compliant ore reserve estimate for the Maalinao-Caigutan-Biyog Copper-Gold Project, held under its Philippine Affiliate Co, Makilala Mining Co Inc. Total ore reserves are 130.2 million tonnes at 0.66% copper and 0.21 grammes per tonne gold, for 856 thousand tonnes contained copper and 891 thousand ounces contained gold at a 0.84% grade. The MCB project is owned and operated by MMCI an affiliate company of Celsius. Celsius has a 40% working interest in MCB. MMCI Technical Director Peter Hume says: "The maiden JORC ore reserve estimate for the MCB Copper-Gold Project is a major milestone that confirms the strength and long-term potential of the deposit, reinforcing our confidence in the project's capacity to deliver sustained value for shareholders and stakeholders."
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Versarien PLC - Gloucestershire-based advanced materials group - Provides a further update on its intention to appoint administrators. Confirms that the notice of intention to appoint administrators appointing Leonard Curtis was filed in the High Court of Justice on December 5 that it is therefore protected against any creditor enforcement action for a period of 10 working days from that date. Leonard Curtis continues to work towards concluding a transaction and if necessary, will file a further NOIA to give a further 10 working days protection. If a transaction is not concluded within the timeframe the administration will proceed.
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Ariana Resources PLC - mineral exploration, development and production company with gold project interests in Africa and Europe - Provides an update on its exploration drilling at its 100% held Dokwe gold project in Zimbabwe, focusing on near-term potential resource growth opportunities at Dokwe.
Says 2,411 metres drilled to date of the planned 4,000m programme at Dokwe. Strong silicification, pyritization and shearing identified in drilling to date with strong geological indicators of potential at Dokwe Central as testing continues along a faulted and offset extension of the deposit. "We have made a great start to the exploration drilling programme at the Dokwe project, and we are just a little over the halfway mark," says Managing Director Kerim Sener. "We are encouraged to note that our geological models have proven remarkably prescient. Notably, drilling along the Dokwe Central shear zone has largely confirmed the suspected offsets of this structure, and the distribution of known mineralisation is now better understood." Adds: "We may extend the current programme of drilling, and we are now planning additional holes. We await the first assay results from the programme and will report these in due course. We are expecting to receive the first assay results prior to the end of the year."
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By Jeremy Cutler, Alliance News reporter
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Related Shares:
TernGres House I&gGres House I&g2Sancus LendFranklin Glb TrMicrosaltCelsius ResVersarien