7th Feb 2025 21:31
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and Thursday and not separately reported by Alliance News:
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T42 IOT Tracking Solutions PLC - provides real-time tracking and monitoring of shipping containers - Raises GBP262,500 via placing of 10.5 million shares, 16% of the firm's share capital, at 2.5 pence each, run by Peterhouse Capital Ltd. Participants will receive one warrant for each placing share subscribed. Proceeds will provide additional working capital to support existing and future orders and accelerate manufacturing processes. Funds will also be used to expand marketing, focusing on the US and European sales markets.
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Northamber PLC - London-based distributor of audio-visual and information technology equipment - Acquires Netherlands-based Epatra BV from PreHold BV and Lumen Vera BV for up to EUR2 million cash. Epatra is a distributor of professional audio visual solutions, focussed on smart offices. Epatra is headquartered in the Netherlands and has its warehouse and a further sales office there as well as a sales office in Belgium. Deal is funded from existing resources. Northamber believes that Epatra has potential for strong growth and can be used as a platform to drive ambitions for European growth. The
acquisition will further broaden Northamber's reach outside of the UK and into growth markets in Europe, company says. It offers an opportunity to consolidate existing operations in Benelux and benefit from logistics and distribution synergies, firm adds. "The board believes that there remain significant opportunity for further suitable acquisitions in the sector, which should generate additional value for Northamber's shareholders in the medium term," Northamber says in a statement.
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Tirupati Graphite PLC - London-based flake graphite supplier with projects in Madagascar and Mozambique - Says mining and processing operations re-started from its Vatomina project in Madagascar on February 1. Production will initially be through two pre-concentration units and is expected to stabilise at a daily rate of around 20 to 25 million tonnes per day for February. Intends to install two additional PCUs during 2025. Initial indications are that the group could achieve monthly production rates of around 600 tonnes per month of flake graphite by end April, thereafter increasing to around 1,000 million tonnes per month by July 31 and 1,500 million tonnes per month by December. Says it has existing orders and is receiving strong demand inquiries for its available production capacity going forward. In addition, notes receipt of just over GBP1 million from a new strategic investor and existing investors. Explains this is the first stage of a larger proposed fundraise. This allows the group to meet immediate payment obligations and re-start production. Notes a review of creditors has revealed a significant number of overdue balances. As a result, the board is reviewing the recoverability and possible impairment of certain of the group's assets. Given the quantum of creditors and legal processes, says there remains a high financial risk to the company's future at the present time.
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EMV Capital PLC - life sciences focused investor - Portfolio company PDS Biotechnology Corp, in which it holds a 2.8% direct holding, reaffirms its guidance of initiating its Versatile-003 Phase 3 clinical trial of Versamune HPV plus pembrolizumab for first-line treatment of recurrent and/or metastatic HPV16-positive head and neck squamous cell cancer in the first quarter of this year. PDS Biotech is a late-stage immunotherapy company focused on transforming how the immune system targets and kills cancers.
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Metals Exploration PLC - Philippines-focused mineral resources firm - Agrees to extend the term of its GBP5.5 million unsecured bridging term loan facility with Drachs Investments No 3 Ltd. The terms of the facility remain unchanged, save for the maturity date which has been extended to March 31.
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The Renewables Infrastructure Group Ltd - London-listed investment company - Refinances and reduces the size of its multi-currency revolving credit facility. The renewed RCF of GBP500 million has been made available for a three-year committed term expiring March 31 2028 at improved pricing compared to the previous GBP£600 million facility. Explains the refinancing supports the company's strong balance sheet. The RCF was GBP309 million drawn as at December 31. It is expected that proceeds will be received in late February 2025 from the sale of a 15% stake in Gode offshore wind farm, which was announced August 1 2024, and upon receipt the RCF balance will reduce to around GBP230 million.
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ActiveOps PLC - Reading, England-based management process automation software provider for back-office operations - Reports strong momentum in new business wins to date in the second half of the year ending March 31. Notes six new customers have been signed so far, bringing total new logos won in the year to date to nine, versus three in financial 2024. The initial scope of the new contracts supports existing consensus market expectations, company adds. Further, appoints Paul Maguire as group managing director, a non-board position.
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By Jeremy Cutler, Alliance News reporter
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