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The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: ---------- Panthera Resources PLC - London-based, West Africa and India-focused gold explorer and mine developer - Updates on the arbitration claim filed in May by Australian subsidiary Indo Gold Pty Ltd against the Republic of India, concerning ‘the latter’s breach of the 1999 agreement between the government of Australia and the government of India on the promotion and protection of investments’. Indo Gold’s filed memorial includes a claim for damages amounting to $1.58 billion net of Indian taxes. Panthera says the arbitration panel has issued an order to, in the first phase, initially consider the issues of jurisdiction together with the merits and the general principles of compensation, with the precise quantum calculations reserved for a second phase of the proceedings. Believes the order is ‘efficient’ as it permits ‘a speedy resolution...without incurring the costs and complexities of calculating the compensation until after the general principles of compensation have been determined’. India must now respond to the memorial, regarding the scope detailed in the first phase. Panthera will provide an update ‘as soon as possible’. ---------- Regional REIT Ltd - London-based real estate investment trust - Completes disposal of the Clearblue Innovation Centre in Bedford, England, for £8.8 million before costs. Says a lease extension to September 3033 has been agreed ahead of ‘accretive asset management works’ which finish in October and will improve its EPC rating. Says these ‘enhancements’ have improved the value by £2.3 million. Property is currently leased to SPD Development Company Ltd, generating headline rent of £860,000 per year with a 9.16% net initial yield. ‘This disposal demonstrates the success of our active asset management strategy, delivering an 11.4% premium over book value [at June 30] and enhancing the quality of our portfolio...The proceeds will further strengthen our balance sheet and position us to continue creating value through disciplined capital allocation and selective asset sales,’ comments Stephen Inglis, chief executive officer of asset manager London & Scottish Property Investment Management. ---------- Downing Renewables & Infrastructure Trust PLC - Leeds, England-based investor in UK and Northern European renewable energy assets - Announces alongside Bagnall Energy Ltd, which has agreed to acquire it in a deal valued at around £174.6 million, that a further regulatory condition - ‘the Icelandic foreign direct investment condition set out in paragraph 3.(d)(a)(i) of Part III...of the scheme document has been satisfied’. Completing the deal remains subject to the satisfaction or waiver of the remaining conditions set out in the scheme document, including the scheme of arrangement being sanctioned at a court hearing. They expect the scheme to become effective during the second half of this year. ---------- Supply@Me Capital PLC - London-based inventory monetisation platform - Confirms that it received the $2.0 million payment due from Nuburu Inc on Wednesday. This is the next tranche under the $5.2 million on-demand convertible funding facility agreed in March with Nuburu, of which Supply@Me Founder & Chief Executive Officer Alessandro Zamboni is the executive chair. Supply@Me was due to receive the latest tranche on or before Friday. Says its latest communication from Nuburu via Zamboni is that it currently expects to make the final $2.2 million payment on or before October 31, in line with the agreed payment schedule. ---------- ValiRx PLC - Essex, England-based life sciences company focusing on early-stage cancer therapeutics and women’s health - Wholly-owned subsidiary Inaphaea Ltd has signed a collaboration agreement with TwinEdge Bioscience, which ‘[combines] cutting-edge computational biology, artificial intelligence, and personalised medicine to transform how new cancer therapies are developed’. TwinEdge will combine its proprietary methodology with drug response datasets from Inaphaea’s patient-derived cells or PDCs to create ’patient avatars’, digitally actionable representatives of patient tumours on which representatives of drugs can be tested in ’in-avatar’ trials. Also, Inaphaea has signed a material transfer agreement with Nottingham University Hospitals NHS Trust to obtain new PDC models. It is ‘prioritising ovarian, breast, lung and prostate cancer samples with matched blood plasma, white blood cells and ascites/pleural fluids with full ethics and commercial use consent,’ ValiRx says. The samples and associated clinical data ‘will be used in advanced 3D models to understand host immune engagement...as well as external client projects’. Thirdly, six colorectal Cancer PDC models have been transferred to Cellomatics Ltd under their evaluation use agreement announced in April. Lastly, Inaphaea’s collaborative 3K Screen program with Dominion, announced in May, has identified around 250 hits from the initial screen against five different models. Around 50 of those molecules have known activity in cancer. A ‘top 10’ set has been selected for inclusion in the next phase of testing, and the data generated will be processed using TwinEdge’s digital twin AI platform. Dominion has initiated sales and marketing for PredictRx personalised therapy selection and ValiRx expects initial sales in the fourth quarter. ---------- Seplat Energy PLC - Nigeria-based energy company - Hosts Capital Markets Day at which it provides details on new five-year targets for 2026 to 2030. These include growing working interest production volume to approximately 200,000 barrels of oil equivalent per day by 2030, and generating cumulative cash flow from operations of approximately $5.0 billion to $6.0 billion. Company guides for capital expenditure of $2.5 billion to $3.0 billion, an approximate 50% operating cashflow reinvestment. This includes drilling between 120 and 150 new wells and sanctioning up to three new gas projects. Targets reducing operating costs to $10 per boe by the end of the five-year period. It also initiates a new dividend policy, saying it commits to return 40% to 50% of free cash flow to investors throughout the five-year cycle. This targets a cumulative dividend of $1.0 billion, underpinned by Seplat’s commitment to return at least $120 million per year which equates to 20 cents per share per year or 5 cents per share each quarter, provided that Brent maintains an average price over $50 per barrel during each calendar year. Seplat increases its planned third-quarter dividend by around 10% to 5.0 cents per share, to reflect the new base dividend commitment. ‘Alongside the CMD, we provide an updated [competent person’s report], which reflects more closely our view of asset potential,’ comments CEO Roger Brown. ‘At our current equity holding in the offshore, the company’s 2P reserves grow by 18% to 1.04 billion boe, while 2P+2C increases 90% to 2.3 billion boe.’ Finally, Seplat has been in talks with the Nigerian National Petroleum Co Ltd on the potential sale of a 10% interest in their joint venture. This would result in Seplat owning a 30% stake in the JV with NNPC holding the other 70%, with Seplat remaining the operator. ---------- Mkango Resources Ltd- Malawi-focused producer of recycled rare earth magnets, alloys, and oxides - Raises gross proceeds of £3.0 million through a subscription of 10.0 million units at 30 pence each. Each unit comprises one common share and half of one warrant. Each whole warrant entitles the holder to acquire one common share at a price of 45p each for two years after the closing of the subscription. Mkango expects approximately £2.8 million in net proceeds, with which it says it intends to fund ongoing recycling development costs in Germany and the UK, as well as ongoing corporate costs. Expects the subscription to close on or around October 1. ---------- Wellnex Life Ltd - Melbourne-based consumer healthcare company - Appoints Storelink Sales Ltd as its distribution partner in New Zealand. Says it has identified additional grocery and pharmacy channel opportunities in the New Zealand market for its brands, following the 2024 relaunch of its Pain Away brand in Chemist Warehouse New Zealand. Says Storelink is ‘the ideal partner for the New Zealand market to help accelerate the growth of Wellnex Life brands in additional regional markets’. Adds that it will work closely with and support Storelink to present its brands to New Zealand retailers, and plans for sales to start in the first half of this financial year. ‘We are excited to partner with a highly experienced and regarded company...The Storelink team demonstrated a strong understanding of our company brands and an even stronger alignment to our distribution objectives. The ability to now have our Australian brands available in the New Zealand market formed part of the company’s strategic focus post our UK distribution partner announcement earlier this year,’ says CEO Zack Bozinovski. ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
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