Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

TRADING UPDATES: Zinc Media to pay GBP850,000 in earn-out on The Edge

14th Nov 2023 22:04

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and Monday and not separately reported by Alliance News:

----------

Tufton Oceanic Assets Ltd - Guernsey, England based investment company, which specialises in second-hand commercial sea vessels - Says Paulo Almeida steps down as Chief Investment Officer of investment manager Tufton Investment Management Ltd, and is replaced by Nicolas Tirogalas. Tirogalas was previously managing director of TMS Cardiff Gas. Chief Executive Andrew Hampson says: "I am delighted to welcome Nicolas to Tufton. Nicolas brings with him a wealth of hands on investment and management experience across a wide spectrum of maritime industry segments. I greatly look forward to working with him to continue the business expansion and development that has been built over the past decade and I am convinced he will be a great asset to the future success of the company."

----------

Rotala PLC - Tividale, West Midlands-based bus operator - Says it has extended the put-up-or-shut-up deadline to December 12, from Tuesday, for director offerers to make a firm intention or offer for the company. Says discussions between director offerors and independent directors are ongoing. Notes that indicative proposal was received in September from directors Simon Dunn, Bob Dunn and John Gunn, the chief executive, managing director, North West, and non-executive chair respectively. Adds that the deadline can be extended further.

----------

Zinc Media Group PLC - Edinburgh-based television, brand and audio production company - Says its subsidiary The Edge Picture Co Ltd has met its earnings target set out in its August 2022 acquisition deal. Says the first year earn-out payment, which will be paid to the sellers, is GBP850,000. Says it will pay GBP245,375 in cash and issue 654,637 new shares at 0.914 pence each. Chief Executive Mark Browning said: "We are very pleased with the progress of The Edge in the period post-acquisition. The Edge are performing ahead of acquisition expectations, have integrated well into the Group and have further growth opportunities ahead."

----------

Hamak Gold Ltd - mining exploration and development company operating in Liberia - Says it has received 1,873 geochemical soil sampling results, which revealed a 3km by 1km gold in soil anomaly with multiple strong gold peaks in its Nimba licence. Says it recommends a programme of detailed structural mapping, pitting and trenching, followed by further drilling, in order to test targets associated with gold mineralisation. Executive Director Karl Smithson comments: "Our understanding of the geology and structural controls have been significantly improved through the drilling and detailed independent review of all exploration data accumulated to date by the Company's technical consultant."

----------

Reabold Resources PLC - oil and gas investing company with a diversified portfolio of exploration, appraisal and development projects - Says requisition of general meeting by Pershing Nominees Ltd on November 8 is not valid. Pershing owns 7.84% of the company. Says it odes not with to deny any member the right convene a meeting, but says Pershing requisition would raise complex legal challenges and documentation contains material deficiencies. Says requisition proposes removal of Co-Chief Executive Sachin Oza. Previously said requisitioning shareholders are seeking to gain control of the company.

----------

Adalan Ventures PLC - Russia-focused fintech company, formerly known as Zaim Credit Systems PLC - Says it has completed a fundraise of GBP206,000 via the issue of 5.2 million new shares at 4 pence each. Adds that the issue represents a 11% discount to the closing mid price at November 10. Says the fundraise is to provide working capital.

----------

NB Global Monthly Income Fund Ltd - invests in traditional credit, such as bonds and loans, and in alternative credit, such as distressed credit and mezzanine - Redeems 29.1 million shares at 80.77 pence per share for cancellation, Says shares 29.1 million shares is 40.86% of its shares in issue. In total, the redemption is worth GBP23.5 million.

----------

By Harvey Dorset, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

FTSE 100 Latest
Value8,008.63
Change112.78