19th May 2025 21:43
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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HSBC Holdings PLC - London-based bank - issues EUR1.25 billion 4.191% fixed rate resettable subordinated notes due 2036 under its debt issuance programme.
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Nativo Resources PLC - Latin America-focused exploration company with interests in precious metals mining and production in Peru - issues shares to certain creditors in lieu of cash payments. Nativo says 3.8 million shares have been issued at 0.6 pence each, last Friday's closing price.
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Pantheon Resources PLC - oil and gas company focused on developing the Ahpun and Kodiak onshore oil fields in Alaska - announces further progress from the Megrez-1 flow testing programme and guidance on the timing of future activities. Says Topset 1 interval was fracture stimulated in two stages and flow tested over 12 days starting April 3. Although no appreciable oil or gas was recovered at surface, post-test core and log analysis has confirmed oil saturations exceeded 50% - well above expected oil mobility thresholds. Post flow test analysis indicates the reservoir is most likely oil wet. But in such systems mobile oil typically only appears after extended flowback periods, company says. Given the daily expense associated with well test operations on the north slope of Alaska and no imminent sign of oil mobility, the company decides to stop the testing after 12 days to preserve capital for the remainder of the Megrez tests and the upcoming Ahpun development. Chair David Hobbs comments: "The results of testing so far have been undeniably disappointing. As soon as we have completed testing operations on Megrez-1, we will be progressing permitting and planning for the Ahpun commercial demonstration well, a core milestone in advancing phase 1 of the Alaska LNG project. This will allow a relentless focus on the transition from exploration and appraisal to development and future production of our existing independently certified resource base."
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ZCCM Investments Holdings PLC - Lusaka-based mining and energy investor - Says will contest a claim from Trafigura Pte Ltd. Advises shareholders that, pursuant to a guarantee signed by ZCCM-IH's then chief executive in favour of Trafigura in July 2021, Trafigura, in February 2024, filed a request for arbitration against ZCCM-IH brought under the London Court of International Arbitration Rules 2020. These arbitration proceedings are strictly confidential. The arbitration proceedings follow a demand for payment made by Trafigura in November 2023 pursuant to the guarantee. The guarantee was signed as security for a USD100 million prepayment agreement between Trafigura and Konkola Copper Mines PLC, in which ZCCM-IH is a shareholder.
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By Jeremy Cutler, Alliance News reporter
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