21st Mar 2025 20:34
(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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BioPharma Credit PLC - London-based investment company, focused on the life sciences sector - Says its investment manager Pharmakon Advisors LP notes Paratek Pharmaceuticals' announcement regarding the latter's definitive agreement to acquire OptiNose Inc for a total transaction value of up to USD330 million. Paratek expects the transaction to close "as early as mid-2025". BioPharma currently has a USD71.5 million investment in a USD130 million senior secured loan to OptiNose, which it says would be prepaid upon the closing of the acquisition. It also owns 91,667 OptiNose warrants that will expire out-of-the-money at the closing.
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Metals Exploration PLC - Philippines and Nicaragua-focused gold producer, explorer and developer - Says Nick Von Schirnding has requested to step down from his role as chair and as a non-executive director. Names Steven Smith as its new non-executive chair. Von Schirnding's resignation follows the company's completion of a settlement agreement with Runruno Holdings Ltd which resulted in the Runruno shareholding being bought out by Metals Exploration and the settlement of all debt disputes resulting in the firm becoming debt-free back in June.
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Chesterfield Special Cylinders Holdings - Sheffield, England-based engineering firm, formerly known as Pressure Technologies PLC - Confirms its change of name to Chesterfield Special Cylinders, approved by shareholders at its annual general meeting on Thursday. Companies House has issued the necessary certificate. Trading under Chesterfield Special Cylinders' new name and ticker (CSC). Chief Executive Chris Walters explains: "The Chesterfield Special Cylinders brand is trusted by defence and industrial customers worldwide, and by a new and quickly developing hydrogen energy market. This exciting change today acknowledges a proud 125-year history and demonstrates a clear focus and ambition to deliver our recently announced medium-term goals."
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Beowulf Mining PLC - Nordic-focused mineral resource developer - Says it has undertaken a conditional placing and subscription to raise approximately GBP1.0 million. Says this is part of a larger capital raise it intends to undertake to raise at least GBP2.1 million in order to advance the Kallak iron ore project in northern Sweden, the Graphite Anode Materials Plant in Finland, "and for general corporate purposes". Company intends alongside the placing to undertake a preferential rights issue of Swedish depository receipts and a retail offer in the UK. Says together these will raise up to approximately SEK59 million or approximately GBP4.5 million. Rights issue will be for up to the equivalent of approximately GBP2.9 million.
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Power Metal Resources PLC - metals explorer with projects in the US, Canada, Botswana, Saudi Arabia and Australia - Says work has progressed at the Reitenbach uranium property in Canada, with geophysical data indicating the presence of "multiple prospective target areas". "Fieldwork in the northeastern portion of the property, including the Nuphar and Goodleap Targets, has identified multiple potential basement sources of uranium," Power Metal adds. Says Reitenbach was expanded from 16,009 hectares to 20,401 hectares, an increase of 27.5%, by direct mineral claim staking. CEO Sean Wade comments: "It's great to be able to report continued progress across the uranium portfolio as we eagerly look forward to starting drilling in around 10 weeks. We will be drilling more or less continuously through to October and are very excited indeed about the prospects of a commercial discovery. We will shortly be laying out a detailed drill programme, which will set out the expected timing of multiple drill results over that period. This is the biggest and best-funded exploration project that the company has ever undertaken and marks a major turning point in the scale of our ambition."
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Playtech PLC - Isle of Man-based gambling software developer - Announces that it has received Mexican antitrust approval for revised arrangements related to its strategic agreement with Caliplay. Having now received all necessary approvals, Playtech says completion of the revised arrangements is scheduled to take place on March 31. Playtech in September said it had reached a deal with Caliplay, a subsidiary of Corporacion Caliente SA de CV, ending a long-running dispute with the firm. The strategic agreement will see Playtech holding a 31% interest in Caliente Interactive Inc and be entitled to receive dividends alongside other shareholders. Caliplay meanwhile resumed paying software and services fees to Playtech.
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By Emma Curzon, Alliance News reporter
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