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TRADING UPDATES: Smithson assets grow; FireAngel delivers milestone

2nd Nov 2022 19:17

(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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TI Fluid Systems PLC - Oxford-based manufacturer and supplier of automotive fluid storage, carrying and delivery systems - Hires Alexander Bock as new chief financial officer. He will succeed Ronald Hundzinski who will be retiring. Bock will join no later than May 1, 2023.

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FireAngel Safety Technology Group PLC - Coventry-based home safety products maker - Delivers the third development milestone for its deal with Techem Energy Services GmbH for the development of a new generation smoke alarm, primarily for the German market. The third milestone saw the delivery of a fully featured product development board, which allows for design verification and testing to be conducted on all product functions prior to committing to the first product representative build. "The transformational partnership with Techem continues to be of long-term value and of significance for FireAngel and its stakeholders. We are pleased to announce the successful delivery of the third milestone following the formal signing of DP2," Executive Chair John Conoley comments.

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Shanta Gold Ltd - Guernsey-based east Africa-focused gold producer, developer and explorer - Identifies "encouraging" drilling intersections at its New Luika gold mine in Tanzania. They are related to drilling conducted in the second half of 2022. "I am pleased to announce that we continue to deliver encouraging drilling results at New Luika, adding to the exploration success that we have had around the wider portfolio this year. These results give us confidence that the reserve-based mine life at New Luika will continue to be extended beyond its current timeline of H1 2027," Chief Executive Eric Zurrin says.

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Sound Energy PLC - Morocco-focused upstream gas company - Confirms that its wholly owned subsidiary Sound Energy Morocco SARL AU has challenged the Moroccan Court about the tax assessments levied against SEMS. Says the filing has been made within the required period of 60 days from the date of notification of the local tax committee decision. Remains of the opinion that the assessments levied against SEMS that certain purported historical intra group transactions between SEMS and Sound Energy Morocco East Ltd have taxable bases, has been wrongly interpreted by the Moroccan tax administration. In totends to engage constructively with the authorities. Plans to continue to defend its rights through the court and will also continue to do so in the event that the Moroccan tax authority does not withdraw the assessments levied against SEMS.

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Capital Ltd - Mauritius-based mining company - Appoints Rick Robson as chief financial officer following the departure of Giles Everist. Robson has been a member of Capital's senior management team since 2019 and is currently head of corporate development & CFO of MSALABS. He will take on the role on January 1, 2023.

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Riverstone Credit Opportunities Income PLC - energy infrastructure and energy-transition credit investor - Declares a dividend of 2.0 US cents per share for its third quarter, in line with its dividend target. "The strong realised dividend for Q3 was supported by exceptional cash generation activity driven by a supportive market environment for the company's 100% floating rate portfolio and a robust list of attractive realisations. This meant actual net revenue profit for the quarter comprised USD1.8 million or 2.0 cents per share," Chair Reuben Jeffery comments.

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ThomasLloyd Energy Impact Trust PLC - London-based Asia-focused renewable energy investment trust - Signs a USD30.0 million investment agreement with Solar Electric Vietnam. As the first transaction in this new partnership, it enter into an agreement to acquire Viet Solar System Company Ltd, a privately-owned company which holds 6.12 MWp of rooftop solar assets. Has deployed more than 86% of its net IPO proceeds.

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Angle PLC - Surrey, England-based medical diagnostics company - Notes that a study from the University of Texas shows that circulating tumour cells isolated by Parsortix can be analysed with downstream techniques. The study provided data to support the De Novo Class II Classification application for its Parsortix system for use in harvesting cancer cells from metastatic breast cancer patient blood for subsequent, user-validated analysis, it says.

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Seed Innovations Ltd - Guernsey based wellness and life sciences company - Says investee LGP gets firm commitments for a AUD4 million, or GBP2.2 million, placement from new and existing institutional and sophisticated investors. Adds that it received commitments for a further AUD200,000 from LGP's board and executive. Business also launches a share purchase plan offer for eligible existing shareholders. "With further funds now in place to support this growth, LGP can focus on its aim to achieve break-even while continuing on expanding its Australian and European sales channels," SEED CEO Ed McDermott comments.

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Smithson Investment Trust PLC - investment trust - Net asset value per share as at October 31 stands at 1,382.78p, up versus 1,339.5p as at June 30.

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By Abby Amoakuh; [email protected]

Copyright 2022 Alliance News Limited. All Rights Reserved.

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