12th Oct 2026 18:33
(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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Afentra PLC - Africa-focused oil and gas explorer and producer with interests onshore and offshore Angola - Issues an operational update on its offshore Angola portfolio. Says the joint venture has agreed to immediately move the Borr Grid drilling rig to the Impala-2 well, and expects first oil in January with an initial gross production rate of approximately 4,000 barrels of oil per day. Once Impala-2 is complete the rig will return to drill and complete the Pacassa SW sidetrack, Afentra says. Explains that the revised sequence is designed to optimise the drilling schedule and rig utilisation, as it will allow Impala-2 to progress alongside final preparations and equipment mobilisation for Pacassa SW. Expects Impala-2 to spud in mid-October, and aims for completion at the end of December. Says the JV partners will fund Impala-2 directly, instead of using the previously agreed carry mechanism, and that direct funding will allow it "to participate in production revenues from first oil and benefit from the full capital expenditure uplift available under the production sharing contract." Also, Afentra expects first oil from Pacassa SW in the first quarter of 2027, having revised the rig schedule following "operational problems". Says remapping continues, and expects this work "to confirm significant incremental oil resources of up to around [70 million barrels] as predicted prior to drilling the well."
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Tialis Essential IT PLC - Edinburgh-based provider of IT support services - Wins "a significant new contract valued at approximately GBP7.6 million" over five years. The client is "a major customer operating within the utilities market," and the deal will commence this month. Tialis says it will provide end user services to support the client's operational and strategic requirements, and that the contract further strengthens its position in the utilities sector "and provides a strong platform for future growth." Also, it has secured a 12-month contract extension from October 1. The agreement is a "high-profile" public sector one, and it generates approximately GBP1.2 million in annual recurring revenue. Adds that the deal has the option for further extensions of up to six months. Says the extension shows the strength of its long-standing customer relationship and ongoing demand for its services. It "ensures continuity of revenue from a key customer and further enhances the visibility of the group's recurring revenue base." "We continue to see encouraging opportunities across our target markets and remain focused on converting those opportunities while delivering high-quality services to our customers," says Interim Non-Executive Chair Peter Hallett.
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Tern PLC - London-based 'internet-of-things' focused investor - Reaches a settlement with the general partner of Sure Valley Ventures Enterprise Capital Fund LP regarding "all claims and potential liabilities arising from Tern's former participation in SVV2." Tern says it has made a GBP73,740 payment to the general partner, after which it will have no further liability to SVV2 or the general partner. Tern previously disclosed a contingent liability of approximately GBP200,000 in its 2025 results, but expected that "amount would be substantially lower than [this] estimated maximum potential exposure". Says the settlement removes the uncertainty associated with this previously disclosed contingent liability. Adds that the settlement allows it "to focus its capital resources on its direct portfolio companies".
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Genedrive PLC - Manchester, England-based point-of-care pharmacogenetic testing company - Notes that the National Institute for Health & Care Research has published a case study last week on the development, clinical validation and adoption of the Genedrive MT-RNR1 ID Kit. Says the study provides an overview of genedrive's collaboration with the NIHR, the University of Manchester and Manchester University NHS Foundation Trust in developing the test, outlining the role of NIHR funding and clinical research in supporting the technology's ongoing adoption. Says the publication also highlights the potential for genedrive's technology to deliver an estimated GBP5 million in annual savings to the NHS, if it is rolled out nationally. "Through partnership with the UK's integrated research system, Genedrive has not only transformed neonatal care, but generated the robust clinical evidence required to unlock international scale and investment," comments Maria Koufali, the NIHR's life sciences industry director.
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By Emma Curzon, Alliance News reporter
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Related Shares:
Afentra Plc.Tialis Essen ItTernGenedrive