7th Apr 2025 21:39
(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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PureTech Health PLC - Boston, Massachusetts-based biotechnology company - notes recent press speculation and confirms that it is in discussions with Nordic Capital Epsilon SCA, regarding a possible cash offer for the company. Nordic Capital has until close of business on May 5 to either announce a firm intention to make an offer or announce that it does not intend to make an offer.
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Arc Minerals Ltd - copper exploration company focused on mines in Africa - announces the acquisition of the Chingola project in the Zambian copperbelt from Brxton Construction Ltd for an initial USD50,000. Further staged payments and share issues will be due on attaining certain milestones. Executive Chair Nick von Schirnding says: "The acquisition of the Chingola Project is another important step in Arc's strategy to expand its presence in the Zambian copperbelt. We have pursued this asset for the past c.18 months in a highly competitive environment; being located in the north-eastern part of the copper belt is very attractive, with historically higher grades than in the north-west. We will start a comprehensive soil sampling programme imminently, which is fully funded, and we look forward to reporting back to shareholders on our initial findings. Separately, we are in the process of finalising the upcoming drill programme at the Anglo JV and preparations are underway at site."
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Guardian Metal Resources PLC - London-based metal exploration & development company, formerly known as Golden Metal Resources, which focuses primarily on tungsten exploration - announces an operational update covering the Pilot Mountain and Tempiute tungsten projects, both located in Nevada. Says resource drilling across Desert Scheelite is now complete with results pending for the remaining 13 diamond drillholes including the final drillhole PM25-052. In addition, geotechnical drilling is well underway with the first drillhole GCH-1 now complete. Two of the six total planned geotechnical drillholes are scheduled for the Porphyry South area at the proposed southern open-pit edge.
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Pennant International Group PLC - Cheltenham, England-based systems support, technical services and training company - says contracts have now been exchanged on three more commercial properties at the Staverton site for GBP1.2 million. Completion on each of the transactions is set for April 25. Net proceeds will be used to reduce borrowings. The sales are expected to realise a small gain against unaudited book value as at December 31 and will result in additional borrowing headroom.
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Caledonian Holdings PLC - Yorkshire, England-based investing company formally called Vela Technologies PLC - Updates on the admission to trading of 10.9 million subscription shares. Says is yet to receive GBP200,000 of the GBP273,000 subscription monies. But expects the outstanding funds will be received imminently. Confirms funds from placing received.
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Catenai PLC - London-based digital media and technology company updates on Klarian Ltd, having provided the Exeter, England-based data analytics company with a GBP450,000 unsecured convertible loan note facility as announced in late April last year. Klarian, which is oil and gas sector-focused, has told Catenai it intends to repay the CLN and relevant fees by the end of June, totalling GBP567,500. "The company will explore the possibility of deploying these funds into new and exciting AI opportunities," Catenai says.
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Mycelx Technologies Corp - Georgia, US-based clean water and air technology firm - Confirms that the earn-out for the first 12-month period from the sale of its Saudi Arabia branch assets in 2024 is around USD1.3 million and the company expects to recognise a further gain on the sale in 2025 based on the earn-out for the second 12-month period. Also says water trial in the US confirmed that the patented Mycelx solution achieves performance benefits with its two-stage system beyond the operating capability of the traditional three stage systems. Will begin two anticipated PFAS trials within the next 4-6 weeks and is working with channel partners to sell its PFAS-Flex mobile systems. In addition, updates forecasts to take account of tariff impact. Forecasts 2025 revenue between USD12.5 million and USD15.5 million, says will be profitable at the lower end of the range including the gain on the Saudi asset sale. Mycelx buys a portion of equipment and parts from US fabricators who import raw materials that will be subject to tariffs. Chief Executive Connie Nixon says: "We also felt it prudent to revisit our revenue guidance for FY 2025, in light of the reciprocal tariff implementation." Adds: "While we do not expect any major changes to our order backlog, given the timeline required to requote for certain projects, we believe the timing of our revenue recognition could be impacted during the period."
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T42 IOT Tracking Solutions PLC - provides real-time tracking and monitoring of shipping containers - expects to report revenue of USD4.0 million in the financial year ending December, unchanged year-on-year, including around USD2.0 million in software as a service revenue, around 50% of the total. While headline revenue remained consistent with 2023, now sees clear indicators of strong growth ahead. "Increasing momentum in sales of our flagship Lokies and Tetis technologies, along with other IoT offerings, is expected to drive substantial performance improvements beginning in 2025," company says. Explains financial pipeline for 2025 and beyond includes several potential projects and opportunities with annual revenue potential in the multi-million-dollar range and is committed to converting these opportunities into firm orders.
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By Jeremy Cutler, Alliance News reporter
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Related Shares:
Arc MineralsGuardian Metal Resources PLCPennant InternationalCaledonian HoldCatenai PlcMycelx DiT42 Iot Track.PureTech