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TRADING UPDATES: Nexxen expands partnership; Geiger considers listing

8th Feb 2024 21:25

(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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Nexxen International Ltd - New York-based advertising technology company, formerly known as Tremor International Ltd - Says that it has expanded its strategic partnership with TCL Ffalcon, an internet and artificial intelligence service platform. Explains that the expansion designates Nexxen's supply-side platform as TCL's preferred supply platform, and also grants Nezzen SSP the opportunity to exclusively sell TCL's native display inventory.

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Sopheon PLC - Minnesota-based enterprise software and services company - Explains that in December, it agreed with IOPS Buyer Inc, a subsidiary of Wellspring Worldwide Inc, an all-cash offer whereby IOPS would buy Sopheon. The acquisition will be effected by means of a court-sanctioned scheme of arrangement. Sopheon says that now, following a court meeting and a general meeting, the scheme has been approved. The scheme remains subject to the satisfaction of the remaining conditions, including the court sanctioning of the scheme at a court hearing on February 16 at the Royal Courts of Justice. It is expected to be effective from February 20.

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Echo Energy PLC - Latin America-focused exploration company - Says that it will issue an aggregate of 224.5 million warrants to the arranger of the subscription, at a strike price of 0.008 pence, with an expiry date of February 7, 2029. On Wednesday, Echo said it had raised GBP250,000 via the direct subscription of 5.6 million new shares at a price of 0.0045 pence each, and announced the issue of 363.6 million warrants to the arranger of the subscription, exercisable at a strike price of 0.008 pence and expiring on January 29, 2029.

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Geiger Counter Ltd - Jersey-based investor in uranium exploration and production stocks - Says that it is considering applying for its shares to be admitted to the Specialist Fund Segment of the London Stock Exchange, as a way of "broadening the appeal of the company" to a wider range of shareholders. It will provide an update in due course.

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Unicorn AIM VCT PLC - Devon-based venture capital trust - Says that as of Thursday, the initial GBP15 million subscription offer originally announced at the end of January is now fully subscribed. On January 26, Unicorn announced a subscription of up to GBP15 million with an over-allotment facility for a further GBP5 million through the subscription of up to a maximum of 30 million ordinary shares. Now says that, in order to accommodate further unsatisfied demand, the board has decided to use the over-allotment facility and increase the offer by a further GBP5 million. It will now remain open until March 28.

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Savannah Resources PLC - lithium development company focused on its Barroso project in northern Portugal - Notes the opinion of the Public Ministry made public today, and says it is ready to address the concerns of the Public Ministry "at the earliest opportunity". Notes that the advice from its lawyers is that the lawsuit is without foundation, and says it intends to make further announcements regarding the lawsuit as appropriate. Towards the end of January, Savannah had previously reaffirmed its legal position in response to the 'Operation Influencer' investigation in Portugal.

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Kier Group PLC - infrastructure services, construction and property group - Announces the pricing of GBP250.0 million in aggregate principal amount of 9.0% senior notes, due 2029, as part of a wider refinancing. Says that it intends to use the proceeds from the offering partially prepay certain elements of its existing credit facilities and private placement notes.

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Landore Resources Ltd - Ontario, Canada-focused precious and base metal project explorer and developer - Agrees six month variation to scheduling of remaining payments due from Storm Exploration Inc, with regard to a pre-existing option agreement with Landore Resources Canada Inc over the Miminiska Lake and Keezhik Lake properties in Ontario. Says that the final two payments will be increased by 5%, and that Storm will make a good faith payment of CAD50,000 to Landore upon completion of CAD1.5 million of financings. A cash payment of CAD262,500 and a convertible cash payment of CAD525,000 are now due on or before May 24, and a cash payment of CAND525,000 and a convertible cash payment of CAD787,500 on or before November 24.

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By Holly Beveridge, Alliance News reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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