1st Feb 2024 14:28
(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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Wilmington PLC - London-based provider of information and training for governance and risk & compliance - Sells mortality data business MiExact Ltd for an enterprise value of GBP9.6 million to Information Services Bido Ltd. The consideration is split into GBP6.6 million cash on completion, plus GBP3 million of loan notes with a 7% coupon, deferred for up to 3 years. MiExact will continue to be run by Managing Director Polly Avgherinos, backed by Foundation Investment Partners. The proceeds of the sale will be used for "general corporate purposes".
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Savannah Energy PLC - London-based energy company, with projects in Cameroon, Chad, Niger and Nigeria - Shares remain suspended from trading on AIM, with a revised cancellation date of April 2, as the firm continues to work towards buying Petronas International Corp Ltd's energy business in South Sudan. Savannah says it is still advancing "the various workstreams, including receipt of in-country approvals" required to complete the acquisition. Adds that further updates will be given "as and when appropriate".
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Warpaint London PLC - Buckinghamshire-based supplier of colour cosmetics and owner of the W7 and Technic brands - Renews contract with Ward & Hagon Management Consulting LLP for 24 months, effective January 1. At the end of the period, the contract will continue on the same terms, subject to six months notice. It has a total fixed value of GBP450,000, or GBP225,000 per annum. The agreement includes the services of Martyn Ward and Paul Hagon. Additionally, Ward & Hagon has the opportunity to earn up to GBP175,000 per annum through non-discretionary performance related sales bonuses and commissions.
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ACG Acquisition Co Ltd - special-purpose acquisition company seeking reverse takeover in new economy metals and other mining material - Appoints Patrick Henze as chief financial officer, starting Thursday. Henze founded Targa Capital Ltd and has held senior roles at Chaarat Gold Holdings Ltd and UniCredit Spa. Appoints Christopher Hulse as finance director, also effective Thursday. Hulse has held senior roles at Murphy Oil Corp and BG Group.
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Vinanz Ltd - bitcoin mining company with operations in the US and Canada - Intends to start using a proportion of bitcoin generated from its mining operation in North America "to diversify into the broader cryptocurrency market". Plans to allocate a portion of its holdings into alternative cryptocurrency ecosystems, focusing initially on Solana, Ethereum, and Cosmos. Chair David Lenigas says: "We see some of the alternative cryptocurrencies gaining real traction through 2024 and an investment into these right now could potentially add real value to Vinanz's balance sheet. This strategic expansion goes beyond mere diversification; it's an embrace of the vibrant and dynamic possibilities that these technologies bring to the table. Our active participation in staking and yielding within these ecosystems is a testament to our dedication to capturing the most exciting opportunities in the blockchain space."
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By Holly Beveridge, Alliance News reporter
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