8th Oct 2026 10:51
(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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Alien Metals Ltd - minerals exploration and development company - Consolidates four exploration licences into two at its wholly owned Georgina Basin iron-oxide copper-gold project in Australia's Northern Territory, reducing administrative costs and simplifying exploration planning. Says Project Director Matt Healy has held an initial meeting with Traditional Owners in Tennant Creek, facilitated by the Central Land Council, marking the first step towards securing an access and exploration agreement with the Wakaya Aboriginal Land Trust. The agreement is required before two additional exploration licence applications can progress towards approval. Meanwhile, a technical review of historical drill core provides further geological information to help rank exploration targets, including areas near previous drilling that identified elevated copper, uranium, bismuth and silver.
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Colefax Group PLC - London-based designer and distributor of furnishing fabrics and wallpapers - Launches a tender offer to buy back up to 607,047 shares, representing 12% of its issued share capital. The offer, managed by Peel Hunt LLP, will be priced at the lower of 1,350 pence per share or 105% of the average closing mid-market price over the five business days preceding the announcement of take-up. At the maximum price of 1,350p, the offer would be worth around GBP8.2 million and represent a 0.4% premium to Tuesday's closing share price. Shareholders can tender up to 12% of their holdings, with additional shares accepted subject to availability. Chair and Chief Executive Officer David Green intends to tender 137,637 shares, including those held by his wife. The offer closes on October 21, with results expected on October 22.
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Arecor Therapeutics PLC - clinical-stage biotechnology company focused on diabetes, obesity and other cardiometabolic diseases - Says its retail offer closes oversubscribed, raising approximately GBP130,000 through the issue of 191,176 shares at 68 pence each. Together with the placing of 7.4 million shares on Tuesday, the fundraising raises total gross proceeds of approximately GBP5.1 million through the issue of 7.5 million new shares.
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Naked Wines PLC - Norwich, England-based online wine retailer - Says Susan Hooper steps down as non-executive director, senior independent director and chair of the remuneration committee with immediate effect to focus on other priorities. Stephen Bolton, who has served as non-executive director and chair of the audit committee since 2022, takes over as senior independent director.
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European Green Transition PLC - Green economy asset developer - Says the High Court of Justice of England and Wales has sanctioned its proposed capital reduction, following a hearing on Tuesday. The reduction, approved by shareholders at the company's annual general meeting on June 29, involves cancelling the amount standing to the credit of its share premium account. It is expected to become effective in the coming days, once the court order and accompanying statement of capital are registered with Companies House. The move will create distributable reserves, allowing the company to pay dividends or make other distributions to shareholders in the future, although it stresses that no such payments are guaranteed. The number of shares admitted to trading will remain unchanged.
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Helix Exploration PLC - London-based helium miner focused on Montana in the US - Completes drilling of the Ollie #1 well at its Rudyard helium field in Montana, reaching a total depth of 6,311 feet in 20 days, ahead of schedule and under budget. Reports mudlog helium readings of up to 4,800 parts per million, or 0.48%, the highest recorded at Rudyard to date and four times the previous high of 1,200 ppm. Says Ollie #1 is intended to become the field's fourth production well, subject to successful flow testing and gas analysis. Expects to mobilise a workover rig by October 31 to test target intervals, after which it plans to connect the well to its existing gas gathering system and pressure swing adsorption plant. Also plans to begin drilling Ross #1, the next well in its production expansion programme, potentially by October 31, subject to regulatory approval. Notes that mudlog readings are not necessarily indicative of recoverable helium volumes or commercial production potential.
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First Class Metals PLC - Canada-focused mining and exploration company - Says its shares will begin trading on the US OTCID Basic Market on Wednesday under the ticker FCMXF, alongside its existing London listing. The company says the quotation will broaden access for US investors, enhance its visibility and potentially improve share liquidity. Executive Chair James Knowles calls the move an "important milestone", adding that it will help expand the company's shareholder base and raise awareness of its exploration portfolio, including the Sunbeam gold project in Ontario.
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London BTC Co Ltd - miner with operations in the US and Canada - Reports gold assays of up to 104.99 grams per tonne from its maiden exploration programme at the Teep gold-silver project in Nevada. Of 78 rock chip samples analysed, 37 return grades above 0.5 g/t gold, including nine exceeding 10 g/t. The highest grade of 104.99 g/t surpasses the previous project record of 40.56 g/t. Results indicate gold mineralisation across 3.5 kilometres of historical workings, including a 750-metre strike at the eastern vein system. A further two kilometres of the mineralised trend have yet to be sampled, and Dahrouge Geological Consulting is conducting a geological assessment.
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RC365 Holding PLC - payment solutions and fintech company, which operates primarily in east and southeast Asia - Onboards Target International Trustee Ltd to its Wealth Management System, making it the platform's second subscriber after Blacksilver Trust (Hong Kong) Ltd joined in September. The onboarding forms part of a five-year strategic partnership between RC365's wholly owned subsidiary Regal Crown Technology Ltd and Target International Trustee. Under the agreement, RC365 will provide business virtual account services, upgrade the client's existing trust management system and offer fintech integration and application programming interface access. Target International Trustee will pay USD5,000 per month for each of the Wealth Management System and business virtual account services, generating combined recurring revenue of USD10,000 per month. The agreement automatically renews for successive five-year terms unless either party provides notice.
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Comptoir Group PLC - Owner and operator of Lebanese and Middle Eastern-inspired restaurants - Launches a review of its AIM quotation and potential alternatives, including a return of capital to shareholders wishing to exit. Says it will consult major shareholders before reaching a decision. If the board concludes that cancelling its AIM listing is in the company's best interests, it will seek shareholder approval and expects to offer a capital return of 4.5 pence per share, assuming neither Tony Kitous nor Chaker Hanna participates. The extent of individual shareholder participation would depend on overall take-up. Stresses that the review remains at an early stage and there is no certainty it will result in changes to its listing arrangements.
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ZCCM Investments Holdings PLC - Zambia-focused mining investment company - Approves the construction of a new tailings leach plant at Konkola Copper Mines PLC's Nchanga operations in Zambia, in which it holds a 20.6% stake. Says Konkola Copper Mines signed a USD498 million engineering, procurement and construction agreement with China NERIN Engineering Co Ltd on September 17. The plant will reprocess 546 million tonnes of historical tailings grading 0.54% copper, producing around 70,000 tonnes of London Metal Exchange Grade A copper cathode annually at full capacity. Construction is expected to take 24 months, with production reaching full capacity from the fourth year of operation. Konkola Copper Mines will fund the project, with no capital contribution required from ZCCM Investments, and it falls outside Vedanta Resources' initial USD1 billion investment programme.
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88 Energy Ltd - Alaska-focused oil and gas exploration company - Says it has received several bids for a farm-out of its South Prudhoe project on Alaska's North Slope, with commercial negotiations ongoing. Multiple potential partners have completed detailed technical due diligence, and the company aims to finalise commercial terms and definitive agreements with a preferred partner by mid-fourth quarter 2026. Meanwhile, preparations for the Augusta-1 exploration well remain on schedule, with more than 80% of vendor services and long-lead items selected or secured. Key permits are expected to be completed during the fourth quarter, supporting a planned drilling start in the first quarter of 2027, subject to completion of the farm-out and financing. The well targets gross unrisked prospective resources of 133.7 million barrels of oil across the Ivishak, Kuparuk and Brookian reservoir intervals.
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Switch Metals PLC - metals exploration company - Identifies multiple lithium soil anomalies across its three Tiassale project licences, covering approximately 990 square kilometres in south-east Ivory Coast. Says three priority targets at N'Douci East, Aboude North and Ananguie North cover a combined 26 square kilometres and display large, coherent lithium anomalies consistent with features associated with recent spodumene discoveries on neighbouring properties. A geological mapping team has been mobilised to assess the targets, with trenching or auger drilling potentially following to refine drilling locations. Meanwhile, the company continues work on a maiden mineral resource estimate and drilling programmes at its Issia project, with reverse circulation drilling results from the Zraty and Kabore hard-rock targets expected in the near term.
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By Eva Castanedo, Alliance News senior economics reporter
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