(Alliance News) – Below is a summary of results and trading data from London-listed companies released on Wednesday and not separately reported by Alliance News:
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Jade Road Investments Ltd – Hong Kong based investment company – Reaches a key milestone in the sale of its legacy assets, namely the execution of transaction documents for the proposed sale of Future Metal Holdings. Accordingly, CNY39.9 million, or USD5.5 million, was deposited in an escrow account in China. This amount will cover local taxes and other related costs. Next steps include meeting local authorities’ requirements for transferring the funds offshore. Local authorities include the State Administration of Foreign Exchange, the Bank of China and the Tax Administration, among others. The timing of the offshore transfer of the funds “depends on the requirements and efficiency of the local authorities over which [Jade Road] only has limited control.”
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Bowleven PLC – an Edinburgh-based, Africa-focused oil and gas company – says it has received commitments for approximately 66% of the shares in the open offer. The open offer, announced on March 14 and closing on April 2, was expected to raise gross proceeds of £1.6 million. The remaining 534.9 million shares of the open offer that are not accepted by shareholders will be subscribed to by Crown Ocean Capital under the underwriting agreement.
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Spectra Systems Corp – provider of authentication technologies based in Providence, Rhode Island – announces that its circular polymer banknote substrate has been certified through the International Sustainability and Carbon Certification PLUS process. The banknote is part of a mass-compatible recycling supply chain. ISCC PLUS certification allows Spectra Systems to maintain a fully audited, mass-balanced supply chain using polymer sourced and manufactured by its partner Toray Plastics America.
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Shanta Gold Ltd – East Africa-focused gold producer – updates reserves and resources as of December 31 for the New Luika and Singida gold mines in Tanzania and key deposits in Kenya. New Luika’s total resources are 2.38 grams per tonne gold and 931,000 ounces. At Singida they amounted to 2.32 grams per ton or 823,000 ounces. Chief Executive Officer Eric Zurrin says: “The reserve-based mine life remains unchanged for both mines until the end of 2022 and work to add new reserves to the mine plan continues.”
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Baillie Gifford China Growth Trust PLC – China-focused investor – announces annual results for the year ended January 31, for which net asset value per share fell from 328.87p to 193.06p. Total net asset value return was negative 41%, compared to negative 31% for its benchmark, the MSCI China All Shares Index. However, proposes a dividend of 2.0p for last year, compared to 1.7p the year before.
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Compagnie de Saint-Gobain SA – construction company based in Courbevoie, France – is acquiring The Bailey Group Cos, consisting of Bailey-Hunt Ltd and its subsidiaries, for CAD 880 million, or EUR 600 million. The Bailey Group is a privately held manufacturer of lightweight metal construction solutions in Canada.
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Kropz PLC – South Africa-focused phosphate producer and developer – announced on March 27 that it had entered into a new ZAR170 million bridge loan with its majority shareholder, ARC Fund, to meet the immediate cash needs of Kropz Elandsfontein Pty Ltd. cover up. Accordingly, a second drawdown of ZAR73 million has now been made.
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First Class Metals PLC – Ontario, Canada-focused metals exploration company – Signs Exclusivity Agreement with Canadian Vendor for the Kerr’s Gold Project in Northeastern Ontario. The project has a historical resource estimate of 386,467 ounces of gold. First Class also announces that the Company has received a $200,000 grant from the Canadian Ministry of Mines for the junior exploration program on the Zigzag lithium & critical metals property. Finally, First Class notes that it has received a VAT refund of CAD212,780 for 2023.
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By Holly Beveridge, Alliance News reporter
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2024-04-03 17:49:13
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