8th Oct 2026 15:44
(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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RentGuarantor Holdings PLC - London-based company which provides rent guarantee services in the UK private rental sector - Announces a two-year partnership agreement with King's College London. RentGuarantor will serve as a professional guarantor partner for KCL, providing the university's students, including around 20,000 from overseas, with the ability to secure a guarantor through its professional guarantor solution. RentGuarantor believes that overseas students present a significant opportunity, given that they are more likely to have limited access to a UK resident who can act as a guarantor. Chief Executive Paul Foy says: "For RentGuarantor, this agreement provides access to a substantial potential addressable student population, the fourth largest in the UK, and therefore a significant pool of prospective tenants who may require a professional guarantor. The timing of the agreement is also particularly positive, with Master's students beginning to enrol from November through to February."
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Power Probe PLC - London-based producer of automotive electrical diagnostic tools for professional service technicians - Plans to start an up to USD1 million share buyback programme following approval at the annual general meeting held in June. Following its most recent review of cash resources and expected ongoing cash generation, Power Probe says it considers that the group has excess capital of USD1.0 million. It believes that a programme of share buybacks is an appropriate use of this capital. The programme will run until the end of 2026, at which point it will be reviewed. "The board believes the group is well positioned, supported by strong operational cash generation and a robust balance sheet. This provides an opportunity to repurchase shares at advantageous levels, as part of its overall approach to capital allocation, which will focus on long-term value creation for shareholders," the firm comments. Shore Capital Stockbrokers Ltd will run the programme.
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Ithaca Energy PLC - Aberdeen, Scotland-based oil and gas company operating in the North Sea - Says ratings agency Fitch Ratings has placed Ithaca's 'BB-' long-term issuer default rating on rating watch positive following the announcement of acquisition of offshore Canada assets from Suncor Energy Inc. The RWP reflects both the increased scale and geographical diversification the transaction provides, together with the exposure to a stable jurisdiction with a more favourable fiscal regime than the UK Continental Shelf, it notes. In addition, Moody's Ratings has reaffirmed Ithaca Energy's corporate rating to Ba3. Chief Financial Officer Iain Lewis says: "We are pleased that our strategic acquisition of offshore Canada assets announced earlier this week has been received positively by rating agencies, validating the group's growth strategy."
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Partners Group Private Equity Ltd - Guernsey-registered investment trust managed by Partners Group AG - Notes there was no free cash glow available as at September 30 for share buybacks under the terms of the company's capital allocation policy adopted in March 2024. Accordingly, the board has not allocated additional capital to the buyback programme. The company currently has around EUR4.8 million remaining to fund share buybacks, which has not been used beyond the allocations made in October 2025 and April this year. In addition, the board has approved an extra discretionary allocation of EUR10 million for buybacks. It will seek to deploy this discretionary allocation, together with the remaining EUR4.8 million previously allocated to buybacks, through to the end of January 2027. Whilst no FCF was available for share buybacks at the end of the quarter, the company's liquidity position remained "solid" with around EUR29 million in cash and equivalents and a fully undrawn EUR150 million credit facility.
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Futura Medical PLC - Guildford, England-based pharmaceutical company - Provides an update on its formal sales process. Says it has started to send out a detailed information memorandum to a number of interested parties following a "positive" level of interest. It expects to invite interested parties to submit non-binding offers over the next four weeks. Stresses that there can be no certainty that any offers will be made or any sale or other transaction will be concluded. In addition, Finance Director & Chief Operating Officer Angela Hildreth tells the board she intends to step down as of November 13. Hildreth will remain on the board as a non-executive director for the duration of the formal sale process. To support the company throughout the formal sale process, Futura appoints Madelein Kennedy, through MadJak Associates Ltd, as interim chief financial officer on a consultancy basis from October 12.
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Great Southern Copper PLC - Chile-focused copper, gold and silver explorer - Raises GBP2 million to finance the ongoing exploration programme at its high-grade Mostaza copper-silver discovery and other selected targets within its Especularita project through a placing with existing and new investors at 1.5 pence per share. As part of the placing, the company's directors intend to subscribe for shares worth GBP70,000. Chief Executive Officer Sam Garrett explains the funding "will allow us to build on the progress made at Mostaza and advance the discovery towards a maiden resource. Our drilling has demonstrated the continuity of high-grade copper-silver mineralisation, while the encouraging initial metallurgical results provide further confidence as we plan the next phase of work." Garrett says the programme will focus on further drilling at Mostaza, testing the nearby Monolith target and investigating mineralisation along the Mostaza fault trend. Alongside this, further metallurgical testing will help us better understand the deposit as we continue to assess its potential."
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Falconedge PLC - London-based firm, provides advisory and operational solutions for asset and fund managers - Reports a bitcoin yield of 0.834% in September with total holdings of 21.5606 BTC. CEO Roy Kashi says: "September brings a strong third quarter to a close and marks ten consecutive months of positive bitcoin yield for Falconedge. Over the 3rd quarter, the strategy delivered a compounded yield of 2.269% and added close to 0.48 BTC to our treasury, taking total holdings to 21.5606 BTC. Since inception, we have compounded the company's bitcoin balance sheet by 11.85%, equating to an average return of over 1.1% per month." Kashi explains: "Each month's yield adds directly to our bitcoin holdings, independently of bitcoin's spot price, which means bitcoin per share continues to grow month on month for our shareholders. This is unencumbered, free bitcoin accruing to the balance sheet, delivered with zero dilution to shareholders." Adds: "With a growing Bitcoin base and an improving market backdrop, Falconedge enters the final quarter of the year in a strong position."
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MyCelx Technologies Corp - Georgia, US-based clean water and air technology firm - Now expects that around USD2 million of revenue associated with a significant project for an overseas customer in the Middle East will be delivered in FY27 rather than FY26 as had been hoped. "The board believes the underlying opportunity remains strong, with the customer indicating that it is committed to executing this project as well as its current and future expansion plans," the firm says. In addition, MyCelx says
a major customer for its media product has experienced disruption at a high-production offshore site. Initially, this site was expected to resume operations within a relatively short shutdown period. However, the Company recently learned that resolving all issues will take longer than expected. This will impact the level of media sales, and therefore FY26 revenue, by a further estimated USD1 million to USD1.5 million. Says that as it expands its revenue base, the impact of individual project delays and production disruptions is expected to become less significant to the overall business. The current pipeline includes 11 potential project awards with two US super majors and one Middle Eastern National producer expected to be awarded in the next six to 12 months and potentially worth a total of USD20 million to USD22 million. The timing of contract awards will dictate delivery and revenue recognition. To ensure that momentum is not affected and to provide working capital flexibility, the company has agreed to enter into a short-term bridge loan of up to USD500,000 from CEO Connie Mixon.
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By Jeremy Cutler, Alliance News reporter
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