2024-03-18 19:08:55
(Alliance News) – The following is a summary of results and trading updates from London-listed companies released on Monday and not separately reported by Alliance News:
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JPMorgan US Smaller Cos Investment Trust PLC – invests in US small businesses – Net asset value per share at the end of the year to 31 December was 438.6 pence, an increase of 4.0% compared to 421.7p the previous year. The annual dividend is increased by 20%, from 2.5 pence to 3.0 pence per share. The company adds: “We are encouraged by the company’s future prospects: “We are encouraged by the outlook for the U.S. small-cap universe and the broader U.S. economy. Inflation is falling and while growth in 2024 is expected to be moderate, there are indications of a soft landing for the US economy.”
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Burford Capital Ltd – litigation finance provider – announces a share buyback program worth up to £5 million, which will be funded from existing liquidity.
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Molten Ventures PLC – London-based venture capital firm – notes that Vivup and Perkbox will receive an investment from venture capital firm Great Hill Partners, meaning Molten Ventures will exit its investment in Perkbox. Molten Ventures adds: “The award-winning global benefits and rewards platform has been a portfolio company since Molten first invested in 2016, and is currently just outside the core portfolio in the report. The transaction values Perkbox modestly above its holding value of the group.”
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Asia Dragon Trust PLC – investor focused on Asian equity markets – Receives increased commitment from revolving credit facility lender Royal Bank of Scotland International Ltd from £35 million to £50 million. The investment manager is pulling in the equivalent of a further £15m, following spotting “suitable investment opportunities”.
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Alternative Income REIT PLC – commercial real estate investor – Appoints Martley Capital Real Estate Investment Management Ltd as investment advisor following obtaining latest regulatory approvals.
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Powerhouse Energy Group PLC – non-recyclable waste-to-energy company based in Bingley, England – Engsolve subsidiary has been selected to build and install TrimTabs’ first production train. TrimTabs is a process technology company focused on the sustainable production of carbon nanotubes. Powerhouse adds: “The new production facility will support the commercialization of the TrimTabs production system, enabling continuous production of low-cost, highly differentiated carbon nanotubes, close to commercial scale. Engsolve’s participation in the development of this cutting-edge technology will help TrimTabs in its quest to produce sustainable carbon nanotubes.”
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Quadrise PLC – London-based residual oil technology company – Reports no revenue for the six months ending December 31, the same as the previous year. The pre-tax loss remained virtually unchanged at £1.7 million. Quadrise states: “The Company’s strategy is to generate demand in the shipping industry and other sectors and to boost the supply of its fuels in global maritime bunkering centers. During the period, progress has been made in each of the company’s projects, which are designed to implement this strategy. Additionally, the company announces a placement and subscription plan to raise £1.5 million at 1.25 pence per share. It plans to raise a further £1.0 million in an open offer “in recognition of the continued support of long-standing shareholders”. The company says the proceeds from the offering will provide it with “necessary working capital” until the end of March next year. By then, “the projects in Morocco and Utah should generate commercial revenues.”
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By Eric Cunha, Editor-in-Chief of Alliance News
Comments and questions to newsroom@alliancenews.com
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