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The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: ---------- TruSpine Technologies PLC - London Gatwick Airport-based medical device company - Continues to be in a pre-revenue development phase and remains loss-making at this stage. Pretax loss widens to £760,000 in the financial year to March from £702,000 the year prior after administrative expenses rise £759,000 from £656,000 a year ago. Continues to carefully manage its working capital position. Says the maintenance of a strong balance sheet will require further equity funding. ‘To avoid dilution of existing shareholders, we will ensure that all shareholders will be offered the opportunity to participate in any fund raise on the same terms as other shareholders,’ company says. Believes the outlook for the business remains ‘compelling’ but accepts the share price performance has been disappointing. ---------- Sosandar PLC - Cheshire, England-based online women’s fashion brand - Court approves Sosander’s application to cancel the amount standing to the credit of its share premium account as also approved by shareholders in September. The court order confirms the capital reduction. ---------- EnergyPathways PLC - West Sussex, England-based energy infrastructure project company - Raises an additional £125,000 through a private placing and subscription with certain long-term existing shareholders at a price of 6 pence per share. This is in addition to £1.2 million raised by prior placing and subscription announced on Monday. Proceeds will be used to fund pre-development activities on the flagship MESH project. ---------- Afentra PLC - Africa-focused oil and gas company - Announces that the risk service contract for offshore block 3/24 has been formally approved by Presidential decree. This follows the announcement in September confirming the signing of heads of terms with Angola’s National Agency of Petroleum, Gas and Biofuels. Block 3/24 is located adjacent to Afentra’s existing interests in blocks 3/05 and 3/05A and contains five established discoveries in shallow water, offering short-cycle, low-cost development as well as near-field exploration potential. Afentra says: ‘This milestone marks Afentra’s first offshore operatorship and represents a significant step in our strategy to build a material production business in Angola. Our attention will now turn to technical analysis of the historic wells on the license as we commence a phased programme to re-access wells and fast-track first oil. We look forward to working with our joint venture partners to unlock the full potential of this highly prospective block.’ ---------- Imaging Biometrics Ltd - healthcare imaging software firm - Announces a deal to acquire an 86% stake in Kirkstall Ltd from investment firm Truetide PLC. The stake is Truetide’s entire holding in Kirkstall, which has developed a technology that can provide life-like conditions for cell growth. ‘Its patented technology is used by researchers in academia and drug development and provides a way to model the behaviour of multiple human organs interconnected by a system that mimics the flow of blood in the body. It can significantly increase the physiological relevance of research,’ IB says. It expects to exercise an option that will see it take sole ownership of Kirkstall, as part of a ‘shareholder agreement’. The consideration for 100% of Kirkstall will be £170,000. It notes £146,421 will be paid to Truetide in a consideration satisfied by the issue of an unsecured convertible loan note. The note has a 6% annual interest rate. Truetide holds a 29% stake in IB. Both firms note that Truetide cannot issue a conversion notice for the note if the result of doing so would mean Truetide’s stake in IB tops 30%. Truetide was formerly known as Braveheart Investment Group PLC. ---------- Abingdon Health PLC - York, England-based maker of lateral flow diagnostic tests - Raises £3.3 million via placing to certain institutional and other investors at 6 pence per share. As part of the placing, Chris Hand, executive chair agrees to subscribe for 500,000 placing shares. In addition, company plans to raise £200,000 via retail offer on same terms. ---------- B Hodl PLC - Douglas, Isle of Man-based company focused on bitcoin accumulation - Announces that it has commenced its lightning network operations, is generating revenue, and intends to provide initial results on revenues generated once a minimum of 30 days of operations have been completed. It is expected that this will occur in early November. In addition, appoints AlbR Capital Ltd as joint corporate broker, alongside the company’s existing broker, Canaccord Genuity Ltd. ---------- ValiRx PLC - Essex, England-based life sciences company focusing on early-stage cancer therapeutics and women’s health - Wholly owned subsidiary Inaphaea Ltd confirms the completion of the second phase of the Amply Discovery Ltd’s service contract, announced in November 2024, and receipt of a balancing payment of £31,000. Inaphaea also announces that, following the award of a Knowledge Transfer Voucher with The Open University announced in August, the academic partner has been awarded a £250,000 UK Research and Innovation grant to further develop its in-silico spheroid modelling platform. Inaphaea, as the commercial partner, will supply its patient derived cells and will also evaluate the in-silico, predictive models. Also announces it has signed an agreement with Apis Assay Technologies Ltd to evaluate APIS’s Her2 targeting Clickmer. ---------- Pulsar Helium Inc - White Rock, Canada-based resource company - Announces that the drill rig and supporting equipment has been mobilised and is due to arrive at the Topaz project in Minnesota on Wednesday. Up to ten additional wells are to be drilled, with the campaign designed to further define the geometry, extent, and productivity of the helium-bearing reservoir identified in previous drilling and flow-testing campaigns. Drilling of the first well, Jetstream 3, is anticipated to commence later this week. ‘Each well will bring us closer to quantifying the resource, advancing Topaz toward commercial development, and reinforcing Pulsar’s role in strengthening US helium supply chains,’ company says ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
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