|
The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: ---------- Mkango Resources Ltd - Vancouver, Canada-based company focused on production of recycled rare earth magnets, alloys and oxides - Begins procuring long-lead equipment for its Texas rare earth magnet recycling hub, supporting a targeted commissioning in the second half of 2027. The company increases projected annual production capacity to 1,526 metric tonnes of saleable NdFeB products and estimates a post-tax net present value of $416 million based on current prices, rising to $797 million using forecast prices. HyProMag USA is also advancing engineering work, feedstock and offtake discussions, project financing and recruitment of a US-based chief executive and chief financial officer, while targeting expansion of US production capacity to around 4,656 metric tonnes through future plants. ---------- ValiRx PLC - London-based life science company - Says it will not exercise its option to license a cancer therapeutics programme being evaluated with the University of Dundee after the technology failed to meet the company’s criteria for progression. The life sciences firm says target deconvolution work advanced during the extended evaluation period, supported by a £50,000 grant from Queen Mary University London and £9,000 from ValiRx, but the precise mechanism of action was not sufficiently determined. The collaboration agreement has therefore been terminated, with responsibility for the intellectual property reverting to the University of Dundee’s Drug Discovery Unit and Queen Mary University London. ---------- Quilter PLC - London-based wealth manager - Completes £40 million of its £100 million share buyback programme, repurchasing and cancelling 22 million shares at an average price of 181 pence. The firm has now launched a second tranche of up to £30 million, managed by Goldman Sachs, which will run from June 22 to no later than September 30. Purchases will be made on the London and Johannesburg stock exchanges, with all repurchased shares to be cancelled. ---------- Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development and production company - Says the longstop date for completion of the farm-out of a 40% interest in the EG-08 licence offshore Equatorial Guinea to Fuhai Energy has been extended by mutual agreement to July 31, 2026. The company says the transaction has already received approval from Equatorial Guinea’s Ministry of Mining and Hydrocarbons and is awaiting final Overseas Direct Investment approval from authorities in China’s Shandong province, which it expects in the coming weeks. Upon completion, Antler Global will retain a 40% interest and operatorship of the licence, with Fuhai holding 40% and state oil company GEPetrol 20%. Europa continues to target drilling the Barracuda-1 well in early 2027. ---------- Technology Minerals PLC - London-based provider of technology for battery metals recycling - Raises £2.1 million through a conditional placing and subscriptions at 0.05p per share to support its new ‘Mantle’ strategy focused on critical minerals, national resilience and sovereign supply chains. The company says proceeds will be used to settle creditors, strengthen the balance sheet and provide working capital. It also agrees revised settlement terms with creditors, including Jonathan Swann and Atlas Special Opportunities, reducing near-term cash outflows. A general meeting is expected in July, while a retail offer via the WRAP platform is planned following publication of the prospectus. ---------- Maintel Holdings PLC - London-based provider of communications services - Completes the refinancing associated with its £5.5 million fundraising announced in May, with all conditions now satisfied except admission of the new shares. The company says net proceeds will strengthen its balance sheet, support working capital, help deliver recently won projects, improve procurement and payment performance, and fund the rollout of its transformation programme. ---------- Clean Power Hydrogen PLC - Doncaster, Yorkshire-based green hydrogen technology and manufacturing company - Says its initial investigation into last month’s testing incident indicates a hydrogen-oxygen mixture ignited during automated depressurisation of its MFE220 1MW electrolyser, causing structural damage, though no injuries occurred. The company says its proprietary membrane-free stack technology was not responsible for the failure and expects a full root-cause analysis by the end of August. CPH2 says it lacks the financial and engineering resources to continue manufacturing and will instead adopt a capital-light strategy focused on licensing its intellectual property, which includes 16 granted patents and existing licensing agreements. The company is pursuing a fundraising to support the transition, warning current cash resources are sufficient only until mid-July. It also announces planned management changes, with Chief Commercial Officer Richard Scott set to become chief executive, while current CEO Jonathan Duffy and Chair Christopher Train will step down following the next fundraising. ---------- Solvonis Therapeutics PLC - London-based biopharmaceutical company, focused on central nervous system disorders - Reports positive preclinical pharmacokinetic data for its SVN-002 oral thin-film esketamine candidate for alcohol use disorder, supporting plans to pursue the US FDA’s 505(b)(2) regulatory pathway. The company says systemic exposure to esketamine and key metabolites was within the range observed for the approved intranasal comparator product, providing support for a scientific bridge to Johnson & Johnson’s Spravato. Solvonis plans further discussions with the FDA on remaining toxicology requirements before submitting an investigational new drug application to support a phase 2b trial in moderate-to-severe alcohol use disorder in the US. ---------- Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
