|
The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: ---------- Adalan Ventures PLC - Russia-focused fintech company, formerly known as Zaim Credit Systems PLC - Raises £405,000 gross via a subscription for 10.1 million shares at 4 pence each, an 11% discount to the closing mid-price on its last trading day prior to the agreement of its reverse takeover of Topos Network Pte Ltd in 2023. Additionally, settles £382,340 of outstanding fees and £16,905 of debt including interest through the issue of 10.0 million shares at the issue price. Of this, company secretary Simon Retter is issued 8.0 million fee shares, with most to be held by Stonedale Management and Investments Ltd, owned and controlled by Retter. Chair Malcolm Groat is issued 2.0 million via MMM Consulting Pte Ltd, for which Groat is a consultant. Further, settles a liability with a consultant through the issue of 1.7 million shares. Chief Executive Officer Siro Cicconi has agrees to apply his directors fee of £503,067 for the three-years through 2025 to subscribe for an equal amount of convertible loan notes which will automatically convert at the issue price upon completion of the RTO. Retter through Stonedale and Cicconi are to be awarded an additional fee for their work on the RTO. Siro Cicconi will subscribe for £345,000 of convertible loan notes and Simon Retter, via Stonedale, will be issued 4.3 million shares at the issue price. Also agrees to issue over 20.0 million in warrants at the issue price to certain directors and former director Paul Auger at the issue price, valid for three years and conditional upon completion of the RTO within 12 months of March 28, 2026. Moreover, reissues 3.0 million warrants issued in connection with its IPO in 2019 which have now expired. Adalan says the term sheet data July 31, 2023 has been amended to reflect these changes to its capital structure. It is also discussing a loan of up to £850,000 from Topos to assist in funding the RTO. Says further announcements will be made ‘as and when appropriate.’ ---------- Netcall PLC - Bedford, England-based digital automation and customer engagement company - Issues 112,828 shares to the vendors of Skore Labs Ltd as contingent consideration payable based on Skore’s performance after its acquisition by Netcall in 2024. ---------- Fusion Antibodies PLC - Belfast-based contract researcher that provides discovery, design and optimisation services for therapeutic antibodies - Agrees to transfer ownership of certain background intellectual property covering a novel rabbit antibody to existing client Finn Therapeutics Ltd. Fusion is to receive £250,00 in exchange. ‘The Client is pleased to take ownership of the background IP as this is expected to streamline its fundraising activities and the company has agreed to tailored payment terms with the client to allow for these fundraising activities,’ Fusion says, adding that is intends to continue working closely with Finn. ---------- Emmerson PLC - developer of the Khemisset potash mine in Morocco - Updates on its arbitration process against the Kingdom of Morocco. Boies Schiller Flexner LLP have submitted a memorial to the arbitration panel which outlines Emmerson’s case including legal arguments and supporting evidence and requests damages of $1.22 billion. Morocco now has the opportunity to respond. Emmerson’s claims allege the violation by Moroccan authorities of the United Kingdom-Morocco Bilateral Investment Treaty. ---------- Capricorn Energy PLC - oil and gas exploration and production company with assets in Egypt - Egyptian House of Representatives ratifies the consolidated and amended concession agreement covering eight of its Egyptian Western Desert concession agreements. Capricorn has a 50% participating interest held jointly with Cheiron Oil and Gas Ltd. ‘The ratification represents a key milestone in the process to consolidate, extend and improve the terms of the company’s Western Desert asset base,’ company says. The new agreement extends the concession life by up to 20 years with a 10-year development term and two 5-year optional extension terms; amends the fiscal terms to promote investment, and merges the existing concessions ‘to increase operational and financial efficiencies.’ Capricorn will now work with Cheiron and authorities to complete the remaining customary steps required for the Minister of Petroleum and Mineral Resources to sign the amended concession agreement. Expects this to occur in the coming weeks. ---------- Jangada Mines PLC - natural resources development company - Announces positive update on its diamond drilling campaign at the Molly Gold Project in the Tapajos Gold Province, Para State, Brazil. Says 13 holes have been drilled for a total of 2,076 metres primarily targeting the high-grade Molly 1 & 2 targets. Calls the results ‘highly encouraging’ with indications from step-out drilling having ‘reinforced district-scale prospectivity’. Notes holes drilled contained quartz vein and/or disseminated sulphides, ‘the host for gold in this style of mineralisation’. 44 samples have been sent to labs with assay results expected mid-April. Expects phase 1 drilling in early April, with phase 2 and geological work to begin shortly after. The next phase of exploration is fully funded. Looking ahead, it continues to expect to ‘materially build on’ the existing JORC resource of 130,000 ounces of gold. With the minimum drilling requirements of 2,000 metres met, Jangada has agreed to exercise its option to acquire 100% of the project from BGold. Pending regulatory approval, Jangada will pay $100,000 and $250,000 in shares which will be subject to a one-year hard lock up. ---------- Touchstone Exploration Inc - onshore oil and gas development in Trinidad & Tobago - Average net sales volumes for January and February 2026 total 4,778 barrels of oil equivalent per day, consisting of around 20.5 million cubic feet per day of natural gas and 1,357 barrels per day of crude oil and liquids. Also provides an operations update. The Carapal Ridge 3 well has been brought onstream after being tied into its Central block natural gas facility. ‘The well is currently flowing natural gas and condensate as it continues to recover drilling and completion fluids,’ Touchstone says. Since the Central block acquisition, gross natural gas throughput excluding Coho-1 well volumes has increased to 19 million cubic per day from 16 MMcf/d through ‘optimization’, and rising to around 21.5 MMcf/d following the startup of CR-3. During the current cleanup phase, CR-3 is demonstrating intermittent peak rates of up to 5.7 MMcf/d during liquid offloading. This is the first new well in the field in over 17 years, company notes. Elsewhere, the Cascadura facility booster compressor successfully completes run testing in Houston and is currently in transit to Trinidad, with arrival expected in April and commissioning targeted for May. On the WD-8 oil block, drills the FR-1835 well, encountering around 290 feet of net pay. The drilling rig has since spudded the second well in a four-well campaign, Touchstone adds. CEO Paul Baay comments: ‘Our current strategy is twofold: maximizing the utilization of existing excess capacity in our processing facilities through targeted drilling and deploying capital toward our highest-priced sales contracts to optimize project returns. The CR-3 well achieves both objectives, adding immediate production while allowing us to benefit from strengthening LNG market fundamentals and improved pricing.’ ---------- Jadestone Energy PLC - Singapore-based oil and gas company - Due to the Cyclone Narelle in Australian, shut down its Stag field facilities on March 23, and demobilized the platform. Notes no release of hydrocarbons, which it has notified to the regulator. Comments: ‘Jadestone is currently assessing the damage to the Stag facilities, while also developing repair plans and a schedule for the resumption of production. The group has appropriate insurance in place, for both physical damage and loss of production income and is working with insurers through the standard claims process. Based on information currently available, Jadestone does not expect this incident to have a material financial impact on the group’s current year or longer-term cashflow projections.’ ---------- Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
