|
The following is a round-up of trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: ---------- Clean Power Hydrogen PLC - Doncaster, Yorkshire-based green hydrogen technology and manufacturing company - Enters a non-binding memorandum of understanding with New Jersey and Texas-based Koch Industries LLC subsidiary Koch Modular Process Systems LLC, which designs and manufactures modular mass transfer systems for the chemical process industry. Says the MoU has an initial term of 24 months, and provides a framework for both companies ‘to evaluate technical, commercial and operational feasibility, including supply chain and localisation requirements.’ CPH2 and Koch Modular intend to progress discussions towards a legally binding agreement for the manufacturing and/or licensing of up to 100 megawatts of CPH2’s proprietary modular hydrogen technology. This would be marketed and sold in Mexico, the US and Canada. ---------- Facilities by ADF PLC - Bridgend, Wales-based provider of serviced production facilities for the film and television industry - Enters a new three-year £5.0 million revolving credit facility with HSBC UK Bank PLC, which replaces its existing £1.0 million overdraft facility. Also raises £650,000 through a 60-month asset financing facility, which is ‘secured against certain existing assets within the ADF fleet,’ and extends multiple existing finance leases for another 24 months. Expects these lease extensions to bring an annualised cash flow benefit of approximately £800,000. Says the measures collectively provide ‘significantly enhanced financial flexibility in support of growth initiatives and working capital requirements.’ Adds that it continues to target an operating leverage from 1.0 to 1.5x earnings before interest, tax, depreciation and amortisation ‘through the business cycle’. ---------- Bradda Head Lithium Ltd - North American-focused lithium explorer and owner of the Basin project in Arizona - Releases a technical review of exploration activities undertaken by Kennecott Exploration Co at the Whistlejacket Lithium Project in Arizona between 2022 and 2023. These included two phases of diamond core drilling for a total of 4,188 metres and confirmed the presence of high-quality lithium-caesium-tantalum pegmatites across approximately 4,486 acres of the project area. Notable intercepts include 51 metres at 1.11% lithium dioxide in hole WSTL0009, and 19.47 metres at 1.66% lithium dioxide in hole WSTL0008, followed by 13.56 metres at 1.31%. Bradda Head also says 103 surface samples returned lithium grades ranging from 0.50% to 4.91%, that a strike length of 2.2km of a lithium mineralised pegmatite swarm is exposed, and that over 37% of the mapped pegmatites contain visible spodumene mineralisation. ‘The drilling, surface sampling, and mineralogical work completed to date confirm Whistlejacket as a coherent, multi-phase LCT pegmatite system dominated by spodumene mineralisation,’ comments Executive Chair Ian Stalker. ---------- Character Group PLC - Surrey, England-based toys, games and giftware company - Says its property investment subsidiary Q-Stat Ltd has leased the warehouse premises at its Infinity House property in Lancashire, England, to Comfy Quilts Ltd for an initial term of five years at £773,000 per annum. It has also granted Robertsbridge Property Co Ltd, a firm connected with Comfy Quilts, an option to acquire the entire Infinity House property, including the warehouse facilities and the office complex, for £9.8 million. The option is exercisable until June 30, with 10% of the agreed price payable upon exercise, with the remainder due upon completion of a purchase. Character Group says it has not yet determined how it would use the sale proceeds if the option is exercised. ---------- Zinc Media Group PLC - London-based television and audio production company - Announces its recommissioning by the BBC for a second series of quiz show The Celebrity Inner Circle for BBC One and BBC iPlayer. The series has been extended to eight episodes, ‘ reflecting the show’s strong performance and the BBC’s confidence in the format.’ Says the show is produced by its Scottish label Tern, with Zinc retaining rights in the programme and underlying format. BBC Studios will undertake international sales, ‘creating a clear pathway to additional long-term value through global distribution and format sales alongside primary UK commissions.’ Says the recommission further strengthens its portfolio of returning IP, which supports greater revenue visibility and underpins its strategy to build scalable formats with international potential. ---------- Victoria PLC - Worcester, England-based designer, manufacturer and distributor of flooring products - Enters a binding agreement for the sale and lease back of its Belgian distribution centre to Alirec-managed fund Avantage Property Holding BV. Says the facility will remain the key European distribution hub for Balta Rugs, in light of the majority of manufacturing having been relocated to Turkey. Expects Avantage to pay gross consideration of €34.4 million in cash on completion, which it expects to occur within 90 days. Says the consideration compares to a net book value of €5.6 million as of January 31, and that existing tax losses will be utilised to mitigate capital gains tax. Says it expects the proceeds, alongside those from two additional surplus property disposals, to fully fund the exceptional costs and capital expenditure associated with the relocation of Balta’s manufacturing. ---------- RTC Group PLC - London-based recruitment company - David Stredder, who has a 5% stake in RTC, requests that the firm include two resolutions at its upcoming annual general meeting to elect Paul Hooper and Gerard Oates as directors. The AGM is scheduled to take place on May 27. RTC notes that it is fulfilling its legal responsibilities under the Companies Act by abiding by Stredder’s instructions. Intends to outline a full response to the ’Stredder Resolutions’ in the AGM notice, which it will circulate ‘in due course’. Also notes that Stredder did not consult the board before proposing the appointments, but has been informed of the board’s process to appoint a further non-executive director, and that Hooper and Oates should be considered proxies of Stredder, rather than as independent. ‘The board believe the Stredder Resolutions to be without merit, and an unnecessary and inappropriate distraction as they anticipate appointing a further independent non-executive director who has significant relevant experience within a measurable timeframe...[and it] will remain focused on continuing to deliver increased value for all shareholders rather than serving a specific interest group,’ RTC comments. ---------- Pennpetro Energy PLC - London-based developer of ‘strategic traditional and transition energy projects’ in Ukraine, US and Canada - Confirms that Jesse White is the registered owner of 6.0 million shares after, as ‘was repeatedly made clear’ at its AGM in November, shares bought by White ‘had not been registered to his name due to the transaction being unlawful in the way that it was carried out by the former board of the company, at the time it was entered into.’ Says it ‘refused to handle the situation other than in a fully lawful manner’ despite attempts ‘to pressure and influence the board to rectify the situation in an equally unlawful fashion, including a letter writing campaign to the regulator,’ by ‘cynics’ late last year. Says the issue is now resolved with the cooperation of the original shareholders. ‘I am delighted that this matter has been resolved and take this opportunity to repeat that all and any disenfranchised shareholder, those who loaned shares to the company in its time of need only to be deprived of their rightful position, will have their rightful holdings returned, at the earliest opportunity,’ Executive Chair Richard Spinks comments. Says White ‘chose not to cooperate’ with Pennpetro to resolve the issue, ‘rather filing a legal claim,’ but that the new announcement should ‘be met with positivity’. Adds: ‘For the record, this entire situation should have been completely unnecessary. It was created in the past by incompetent and careless handling of a simple share transaction, creating an arrangement that could never, from the regulatory or legal perspective, have been transacted and concluded.’ ---------- Camellia PLC - Kent, England-based agriculture and engineering services company - Goodricke Group Ltd, its 74% owned Indian subsidiary, announces on Monday its signing of a memorandum of understanding. The MoU relates to the proposed sale of its Chalouni Tea Estate for ₹190 million, subject to due diligence, Camellia says. ---------- Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
