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TRADING UPDATES: Roadside Real Estate receives further deal funds

ALN

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

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Roadside Real Estate PLC - Abingdon, England-based investor in roadside property such as petrol stations and convenience stores - Confirms that it has received a further £14 million of cash proceeds from CGV Ventures 1 Ltd following the exercise of the put option agreement relating to the second tranche of its shareholding in Cambridge Sleep Sciences. The proceeds will be used to facilitate completion of the acquisition of Hoch Group Ltd. The balance of Roadside’s interest in CSS can be sold between September 1 2027 to September 30 2027 for up to £20 million.

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Standard Life PLC - Edinburgh-based insurance, savings and retirement products firm, formerly called Phoenix Group Holdings PLC - Announces the completion of a further stage in its debt redemption programme as it redeems in full its £250 million 4.016% tier 3 subordinated notes due 2026 at their principal amount, together with accrued interest.

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Alkemy Capital Investments PLC - critical minerals-focused investor - Wholly owned subsidiary, Tees Valley Lithium, publishes an Economic, Environmental and Social Impact report setting out the anticipated contribution of its proposed lithium hydroxide refinery at Billingham, Teesside. The report is based on previously disclosed project parameters, including TVL’s planned capital investment of around £185 million and is being released following the completion of the preliminary independent Life Cycle Assessment. TVL’s refinery is projected to generate £2.1 billion in gross value added over 25 years, representing more than £11 of economic value for every £1 of capital invested, with a substantial share retained in the Tees Valley and the wider North East. Chief Executive Vikki Jeckell says: ‘We believe TVL represents a genuinely additive opportunity for the Tees Valley, the wider North East, and the UK’s critical minerals strategy, and we look forward to continuing our progress.’

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Symphony Environmental Technologies PLC - Hertfordshire, England-based biodegradable plastic technology developer - Announces a significant update on biodegradable plastics regulation in India and the associated commercial opportunity. Last week, the Bureau of Indian Standards introduced IS 19877T:2026 replacing the earlier IS 17899T framework under which Symphony had already secured successful testing results through Intertek India. The availability of a recognised Indian standard and supporting certification is essential to obtaining Central Pollution Control Board approval. Symphony says its results provide a strong foundation for alignment with IS 19877T:2026 and it is working to complete the additional testing and analytical requirements to secure full certification which is expected during the second half of 2026. Symphony believes that there is significant pentup demand from customers awaiting certification and that certification will unlock commercial activity. ‘Certification represents the key milestone required to unlock commercial activity in what the company believes to be a substantial and developing market opportunity,’ company says.

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Aquila European Renewables PLC - currently in a managed wind-down, had previously invested in European renewable energy assets - Says that Aquila Capital Investmentgesellschaft mbH, the company’s investment adviser and a wholly-owned subsidiary of Commerzbank Ag, declines to forbear £160,000 in investment advisory fees. The request followed the breakdown of discussions regarding Aquila Capital’s proposal to acquire part of the company’s portfolio and reflects the quantum of legal fees incurred by the company in relation to the unsuccessful proposed sale. Aquila Capital says: ‘We understand that the independent due diligence process undertaken by the Transaction Team led to findings in relation to overall market conditions and certain asset-specific findings, particularly in Spain and Portugal. The Transaction Team ultimately took the view that the price level must appropriately reflect prevailing market conditions and the identified findings.’ But Aquila European Renewables considers this statement to be of the utmost gravity, noting Acquila Capital has managed these assets for years; every asset in the portfolio was acquired from funds, finance vehicles or accounts managed or advised by Aquila Capital. ‘The suggestion that Aquila Capital had no knowledge of material findings concerning those same assets, findings serious enough to drive a revised offer at a material discount to the published NAV, is a position the Board cannot accept,’ Aquila European Renewables says. Aquila European Renewables is writing to Acqulia Capital for further clarification before deciding next moves. ‘We require clear, unequivocal, written answers within five business days. If those answers are not forthcoming, or are qualified in any material respect, we will draw the obvious inference and act accordingly,’ Chair Robert Naylor says.

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