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TRADING UPDATES: Plaza Centers loss narrows; 450 eyes investments

29th Mar 2023 17:35

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

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450 PLC - London-based acquisition vehicle eyeing content, media and technology sectors - For six months to December 31, posts petax loss of GBP558,000, widened from loss of GBP183,000 a year prior. Reports no half-year revenue, unchanged from last year. Says it sees "significant" investment prospects in media, content creation, and tech.

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Horizonte Minerals PLC - Nickel company developing two assets in Brazil - Pretax loss for the year ended December 31 narrows to USD5.3 million from USD13.3 million a year prior. Administrative expenses widen to USD12.5 million from USD7.8 million in 2021. Horizonte reported a USD8.5 million foreign exchange gain for 2022, swinging from a loss of USD862,739 in 2021. Although the group's assets are not generating revenues and an operating loss has been reported, the directors are confident that they have sufficient funds to undertake operating activities for the next year at least. Horizonte will provide an update for Araguaia covering activity in the first quarter of 2023 in April.

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Plaza Centers NV - Property investor in India - Reports pretax loss for year ended December 31 of EUR8.5 million, narrowed from EUR27.1 million in 2021. Attributes narrower loss to lower finance costs. Records total assets EUR8.3 million, down EUR1.5 million year-on-year on fewer equity accounted investees. The firm's consolidated cash position as of December 31 increased by around EUR3.1 million to EUR7.8 million, from EUR4.7 million last year, as a result of received consideration following the sale of a plot in Bangalore, India.

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CVC Income & Growth Ltd - Closed-ended investment company with exposure to European senior secured loans and other sub-investment grade corporate credit - Reports net asset value per euro shares of EUR0.8902 on Dec 31, versus EUR1.0266 year-on-year. NAV per sterling shares were recorded at GBP1.1064 at Dec 31, versus GBP1.3151 a year prior. The board says it is excited by current prospects, but watching the financial system.

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Ikigai Ventures Ltd - Special purpose acquisition company focused on Asia and Europe - For the six months ended December 31, posts loss of GBP339,449, widened from GBP267,923 a year prior. Says that its strategy and future success is dependent on its ability to identify a suitable acquisition opportunity and to execute a reverse takeover of the chosen acquisition target on attractive terms. It cannot currently predict the period of time it will take to identify a suitable acquisition. If a target is not identified within 18 months of the placement, further funds may need to be raised. As at December 31, Ikigai's unaudited net assets were GBP1.4 million, as was its cash at bank.

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By Holly Beveridge, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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