TRADING UPDATES: M&C Saatchi sees turnover increase; Angus expands bore

TRADING UPDATES: M&C Saatchi sees turnover increase; Angus expands bore
TRADING UPDATES: M&C Saatchi sees turnover increase; Angus expands bore

(Alliance News) – The following is a list of updates from London-listed companies published Tuesday that were not reported separately by Alliance News:

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M&C Saatchi PLC – London advertising agency – Expects net sales of GBP271 million for 2022, up 9% from GBP249 million in 2021. Attributes revenue growth to strong performance in the company’s higher growth specialties and in the UK and America. Expect a 14% increase in nominal profit before tax to GBP31 million. Expects to announce financial results in April 2023. “2022 was another record year for M&C Saatchi. We remained focused on delivering to our customers, resulting in excellent retention and new business. Investment in new capabilities and our unique specialist expertise position us well for 2023 and beyond,” said CEO Moray McLennan.

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National Grid PLC – London-based multinational electricity and gas company – Says National Grid Gas is expected to add a lock-up commitment in favor of each bondholder. This commitment will restrict the company from making certain distributions in the event that the ratio of net debt to the value of legal assets exceeds a predetermined percentage, which is expected to be set at 72.5%, it added. . This occurred around the closing of the sale by National Grid PLC of a 60% stake in National Grid Gas PLC to a consortium comprising Macquarie Asset Management and British Columbia Investment Management Corp.

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Circle Property PLC – London buyer, developer and manager of UK regional office assets – is exchanging contracts to sell its Victory House to Hilla Group Northampton Ltd for a sale price of GBP 2.8 million. Expect the sale to close in mid-March 2023. Says the net proceeds from the sale will be held as group cash and expected to be returned to shareholders through the proposed issuance of B shares.

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TP Group PLC – Wincanton, England-based consultancy, software and engineering firm – Says the court has approved the acquisition by Science Group PLC. The acquisition will take effect on Thursday.

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Tekcapital PLC – London intellectual property investor – Converts its outstanding USD1.35 million loan into Microsalt Inc at USD2.18 per share. This values ​​MicroSalt at USD20.0 million.

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Angus Energy PLC – a London-based oil and gas development company – says its Saltfleetby drilling program is likely to be extended by about 14 days due to drilling problems in the Westphalian reservoir. Says it is preparing to mill a new window in the 7 inch casing about 100 meters above the current case depth of about 2,400 meters. Expect milling of the window to begin Wednesday. Appoints Richard Herbert as non-executive director with immediate effect. “Richard brings broad and deep experience in the oil and gas sector and in particular in managing the challenging mainland drilling environment. The Angus board is significantly strengthened by his presence and we look forward to working with him” said Chief Executive George Lucan.

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Amaroq Minerals Ltd – mining development company focused on Greenland – Confirms copper minerals in the Kobberminebugt project in Greenland with the potential for significant tonnage at depth or along the line. “The high-value nature of Kobberminebugt comes as no surprise given the historic small-scale mining in the area, and our team is now working closely to identify expansions and additional mineralized bodies to build a major exploration target through our future field program. I look forward to to present further positive results in the near future,” said Chief Executive Eldur Olafsson.

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Anglo Asian Mining PLC – London-based producer of gold, copper and silver, targeting Azerbaijan – confirms an expansion of mineralization reported in previous drilling with interceptions of up to 68 meters of continuous gold and copper mineralization in its Gilar deposit. “Gilar continues to deliver exceptionally good gold and copper qualities across a significant thickness of the mineralization. This will significantly increase the mineral reserves of the deposit. The discovery of free gold at Gilar represents an adjustment of our approach to processing the deposit, with preliminary metallurgical testing to optimize metals recovery, and the team is very excited to accelerate this project and begin production,” said Vice President Stephen Westhead.

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CPPGroup PLC – the Leeds-based company that provides products and services to clients in the financial services industry – points to the recent increase in the company’s share price and confirms that it sees no reason for this increase.

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CyanConnode Holdings PLC – Designer and developer of narrowband radio frequency smart mesh networks in Cambridge, England – Raises GBP 5.3 million, before expenses, through the placement of 30.9 million new shares at an issue price of 17 pence per share. “We recently announced an order for approximately 1 million units, bringing orders won this fiscal year to 2.3 million units. This is significant growth from the previous year when we won orders for a total of 1 .3 million units in all years prior to March 31, 2022. Tenders are currently ongoing in India for over 100 million units. The funds raised from this placement will allow us to maintain momentum and capture some of the major opportunities offered to us at this time. On behalf of the board, I would like to thank all of the shareholders who participated in this fundraiser for their continued support,” said Executive Chairman John Cronin.

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Eurasia Mining PLC – mining and mineral exploration focused company from Russia – takes note of the recent share price appreciation and speculation about its Nyud license. Notes that the Nyud exploration license was granted to OOO Monchegorskoye in mid-December. It is founded and owned by Rosgeo. The Nyud exploration license is adjacent to the company’s mining license in Monchegorsk, on Russia’s Kola Peninsula, the company said. Says OOO was established to build a joint venture to develop the Nyud project with Eurasia’s wholly owned subsidiary Yuksporskaya Mining Co, following an agreement between Rosgeo and Eurasia in March 2021.

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Smiths News PLC – a Swindon-based newspaper and magazine wholesaler – reports that 21% of its shareholders voted against resolution 13 to give the board the power to make political donations of up to £50,000. Adds that 17% of its shareholders voted against resolution 17 to give the board of directors the power to convene general meetings other than the annual general meeting with 14 full days’ notice.

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By Abby Amoakuh, reporter at Alliance News

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Copyright 2023 Alliance News Ltd. All rights reserved.

The article is in Dutch

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