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TRADING UPDATES: Zotefams wins Nike deal; Serinus in licence extension

31st Oct 2023 14:26

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

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Zotefoams PLC- cellular material technology producer - Is now supplying high-performance foams for the recently launched Nike Ultrafly, Nike Inc's "pinnacle trail racing shoe". "The partnership between Zotefoams and Nike originally focused on distance road running shoes as well as track spikes, and later extended into trail running footwear with the Nike Zegama, launched in 2022," Zotefoams says.

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Serinus Energy PLC - Romania and Tunisia-focused oil and gas exploration, appraisal and development company - Receives licence extension of the Satu Mare concession in Romania. "The licence extension is in two phases. The first phase of the extension is mandatory and is two years in duration starting on 28 October 2023. The work commitment for the first phase is the reprocessing of 100 kilometres of legacy 2D seismic as well as a 2D seismic acquisition program of 100 kilometres including processing the acquired seismic data," Serinus says, adding that second phase is optional and is two years in duration from late-October 2025. Second phase has required work commitment of drilling one well, though there is no total drilling depth requirement.

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Caspian Sunrise PLC - Kazakhstan-focused oil and gas exploration and production company - Says sanctions on Russia "continue to have a significant impact on the group's current position", though it notes neither the UK nor EU have imposed sanctions on oil produced in Kazakhstan and transported via the Russian pipeline network. Caspian says: "The disruption from the need to source drilling consumables from China continues to have an adverse impact on day-to-day operations. However, on a more positive note, the discount for oil produced in Kazakhstan and sold internationally via the Russian pipeline network has narrowed from the initial USD35 per barrel to nearer USD10 per barrel." Says despite discount narrowing, impact of sanctions on Russia still mean resumption of dividends in near future is "unlikely". It suspended its dividend in June 2023.

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Beowulf Mining PLC - Sweden, Finland and Kosovo-focused mining company - Says Swedish subsidiary Jokkmokk Iron Mines AB awarded exploration licence Kallak nr 101. "The licence is a renewal of the previous exploration licence, Kallak nr 1, held by the company and surrounds the Kallak exploitation concession, Kallak K nr 1, awarded in March 2022," Beowulf adds. Kallak is an iron ore asset.

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Barkby Group PLC - Abingdon, England-based investor in roadside property - Forms joint venture with Meadow Partners LLP targetting roadside real estate assets. Will be funded by up to GBP100 million of equity, "with an intention to add appropriate levels of leverage". At first, Meadow will own 97% and Barkby 3%. "Barkby has the option to increase its ownership percentage in the JV up to a maximum aggregate holding of 10% within the first 12 months following the JV's establishment," Barkby adds. Barkby plans to change its name to Roadside Real Estate PLC to reflect its strategy. It will also propose a share consolidation. It says it is progressing on appointing a non-executive chair, at which point Executive Chair Charles Dickson will become chief executive.

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Newmark Security PLC - London-based designer and manufacturer of specialist products and services that ensure safe and secure workplaces - Says "new clients and contracts" have been won. Newmark adds: "Grosvenor continues to rebuild with a focus on recurring revenues following the anticipated end of the UKG contract." It continues: "At the same time, Safetell has fulfilled a large Protection Screens order for a major supermarket chain, rolled out five new ballistic protection systems for a new money exchange client, with a further 22 planned for next year, and won new orders within banking, retail, utilities and public sector verticals." It expects revenue for the year to be second half weighted.

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CyanConnode Holdings PLC - Cambridge, England-based narrowband radio frequency mesh networks provider - Awarded follow-on smart metering deployment pact in the Middle East & North Africa region. "This follow-on contract builds upon the first MENA order announced by the company in April 2022 and is for CyanConnode's cellular communications product, which will be deployed to connect smart electricity and smart water meters," it says. "CyanConnode will supply cellular hubs, with a capacity to connect 1.41 million devices. Delivery of the first 7,000 hubs is expected to complete by early November 2023, with the full contract expected to be delivered over the next 12 months."

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By Eric Cunha, Alliance News news editor

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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