19th Oct 2022 16:41
(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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Smiths News PLC - Swindon, England-based newspaper and magazine wholesaler - Secures new long term contract with Associated Newspapers Ltd, the publisher of the 'Daily Mail', 'The Mail on Sunday' and the 'i' newspaper. The new agreement is for all of Smiths News' current distribution territories in the UK through to 2029. Notes that this represents revenue of around GBP155 million per year at current market values. On Monday, Smiths News said it had also won two long-term contracts with magazine distributors Frontline and Seymour from 2025 through to 2030. Combined with Frontline and Seymour, says Smiths News has secured long-term contracts with 35% of its newspaper and magazine revenues. Chief Executive Jon Bunting says: "Renewal of our publisher contracts remains a strategic priority for the business, underpinning the long-term sustainability of the business."
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First Class Metals PLC - Lancashire, England-based metals exploration company - Wins two exploration permits for its Sunbeam project, including 'Sunbeam Extension' located in the Ramsey-Wright Townships, in the Superior Province of the Canadian Shield, Ontario. Says the permits are valid for a three year period, expiring on October 13, 2025. The permitted activities are, drilling, trenching, stripping, ground geophysics and trail cutting, it adds. Chief Executive Marc Sale says: "Initial focus will be on the known, underexplored but exciting targets, across this highly prospective property. Furthermore we anticipate the review of historical data to enhance these targets and potentially reveal further exploration foci."
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Surface Transforms PLC - Liverpool-based manufacturer of carbon fibre reinforced ceramic materials - Raises GBP2.0 million through an open offer of shares. Says applications were received for 5.0 million open offer shares, representing a take up of 66% of the 7.5 million available shares. The company had planned to raise GBP3.0 million from the open offer. "This fundraising enables us to complete factory one and commit to the second factory. We continue to expect that this confidence in our future growth will be reflected by a significant contract award before the year end," adds Non-Executive Chair David Bundred. In September, Surface Transforms said it had raised GBP16.0 million through a placing and subscription of shares priced at 40.00 pence each.
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Goodbody Health Ltd - Vancouver-based diagnostics firm - Signs agreement with Allied Pharmacies Ltd to join its Goodbody clinic network. Says this will add 17 pharmacies to its network that can provide a range of services. This includes a range of diagnostic testing offered by the Goodbody clinics and other health services including ear wax micro suction. Notes that earwax removal is no longer offered by most GPs, so patients are turning to community pharmacies for advice and treatment. "The widening of our network will drive more footfall to local pharmacies and help more customers improve their wellbeing," adds Chief Executive Marc Howells.
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Cambridge Cognition Holdings PLC - Cambridge-based brain health assessment software provider - Wins a GBP1.1 million contract with an unnamed "major pharmaceutical company" to provide electronic clinical outcome assessments and hardware for a rare blood disease study running over the next two years. Says the new contract, with an existing customer, is for a mixture of eCOA licenses, services and hardware to support an upcoming clinical trial. Notes that the provision of eCOA for clinical trials is a "sizeable growth market", valued at over USD1 billion per year. Under the contract, Cambridge Cognition will provide the platform and the hardware for capturing participants' experiences as well as their responses to standardised questionnaires and scales. Chief Executive Matthew Stork says: "Cambridge Cognition has a strong history of delivering cognitive assessments in the field, traditionally in clinics and now also at home. We are pleased to see this new order from an existing client, our reputation for quality, service and scientific rigour is enabling us to win eCOA-only clinical trials."
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Europa Oil & Gas Holdings PLC - oil and gas exploration, development, and production company in the UK, Ireland and Morocco - Repays in full the GBP1.0 million loan facility provided by Union Jack Oil PLC, a Bath-based, UK-focused oil and gas company. Says the loan was secured against a 10% interest in the Wressle field, including the associated infrastructure, and this security will now be released at which point Europa will be debt-free. "I would like to thank Union Jack Oil for providing us with this loan, which provided Europa with additional liquidity as part of our prudent cash management philosophy pertaining to our short-term capital requirements," says Chief Executive Simon Oddie. Adds that it expects to receive around GBP2 million from its escrow account, once all invoices for the Serenity well have been received and a final well cost has been established.
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Panther Metals PLC - Canada-focused mineral explorer - Appoints two drilling drilling contractors, BC Diamond Drilling and Platinum Diamond Drilling, to conduct the diamond core drilling programme at its Obonga project this autumn. The Obongo project covers an area of around 251 kilometres squared, providing an 88% coverage of the Obonga Greenstone Belt and comprising five "high priority" prospects for which drilling permits are in place. The Obongo Greenstone Belt is around 160 kilometres north of Thunder Bay, Ontario. Says the planned programme will use two helicopter portable drilling rigs operated on a double shift basis, in order to optimise the use of the helicopter which is being supplied by Expedition Helicopters. Adds that the drilling programme is progressing to schedule. Chief Executive Darren Hazelwood says: "We are now closing in on conducting the most comprehensive drill programme ever carried out on the Obonga Greenstone Belt. I'm delighted to have BC Diamond Drilling and Platinum Diamond Drilling on board as we take our exploration activities into the discovery phase."
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Advance Energy PLC - Isle of Man, UK-based oil and gas company - Calls for general meeting on November 17, where it will propose, as an ordinary resolution, a change of company name to "Beacon Energy PLC". Says that assuming the resolution is approved, the change of name is expected to take effect on November 18.
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Shanta Gold Ltd - Guernsey-based east Africa-focused gold producer, developer and explorer - Says that any takeover offer from Yintai Gold Co is likely to be solely in cash. On Tuesday, Shanta said it had been also approached by Chaarat Gold Holdings Ltd and Shandong Gold Group Co Ltd, the offer from Shandog is likely to be solely in cash, too.
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Fair Oaks Income Ltd - Guernsey-based closed-ended investor in collateralised loan obligations - Buys 30,599 realisation shares and 232.5 million shares in the secondary market. Says this is in line with its 2021 prospectus.
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SulNOx Group PLC - London-based supplier of fuel conditioners - Bus company in South Africa adopts SulNOxEco Fuel Conditioner following consistent weekly fuel consumption improvements over a two-month evaluation period. Says the results are from Lowveld Bus Service, based in Lephalale, South Africa. It is a subsidiary of South Africa's Imperial Group. Lowveld has now adopted SulNOxEco across its entire fleet of over 170 buses. Hilton McCabe, director of SulNOx introducer, M&R Consol says: "Lowveld Bus Service ran a selection of 10 buses in a benefit validation program. During this period, average fuel consumption was monitored, and a weekly improving trend of savings was recorded. The buses selected all ran smoothly, with drivers commenting on the improved performance and reduced smoke from the exhausts."
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By Sophie Rose; [email protected]
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