Proactive news headlines: Zoetic International, EQTEC, Walls & Futures REIT, 88 Energy …

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Zoetic International PLC (LON:ZOE) said its shares are now trading on the OTCQX Best Market, one of the highest level OTC markets in the US, under the ticker ‘ZOEIF’ after being upgraded from the OTCQB Venture Market. The cannabidiol (CBD) products specialist said the OTCQX market is designed for “established, investor-focused US and international companies” and that graduating to the new market from OTCQB is an “important milestone” and enables firms to build visibility among US investors. Zoetic also said that it is currently evaluating additional opportunities to improve investor relations and communications in North America In addition to the OTCQX trading, the company also revealed it has been included in the UK MSCI Microcap Index.

EQTEC PLC (LON:EQT) said that together with its German engineering, procurement and construction (EPC) partner ewerGy it has signed a memorandum of understanding (MoU) with Greek construction group Nobilis Pro Energy which provides for the collaborative development of the firm’s pipeline of opportunities in the country. The energy-from-waste technology firm said the MoU will allow the firms to work together to deliver advanced gasification projects in the Nobilis pipeline, starting with a 0.9 megawatt electric (MWe) gasification plant in the town of Almyros. EQTEC said the collaboration will be underpinned by a joint venture between the firm and everGy which is expected to source and provide funding and delivery capabilities for any projects provided by the Nobilis pipeline.

Walls & Futures REIT PLC (LON:WAFR) saw its net asset value rise to £3.96mln as at the end of September 2020, up from £3.30mln a year earlier The ethical housing investor and developer revealed in its half-year results that rents received in the six months to the end of September rose to £79,023 from £67,650 in the same period of 2019. The loss before tax narrowed to £52,293 from £92,200. The company also said it had sold its leasehold property in Southfields for £660,000 (before costs), a price that represents a 5.7% discount to the property’s valuation as at the end of March 2020.

88 Energy Limited (LON:88E, ASX:88E) said it is set to expand its footprint in Alaska as the group has been named as the high bidder on the Tract 29 area, via the 2021 Coastal Plain Lease Sale. Tract 29 is positioned as a 23,446 acre area adjacent to the company’s Yukon leases. The company described the expansion as “a logical step in the company’s aggregation strategy” in the North Slope region.

Capital Limited (LON:CAPD) has updated investors on the progress under its contracts at the Sukari Gold Mine in Egypt. The company landed ‘transformative’ new contracts with Centamin for the Sukari mine last year, with the AIM-quoted contractor signed up for waste mining and drilling services. It required the company to expand its equipment inventory and has therefore needed investment. Capital Limited has confirmed that proceeds from its share placing in December have allowed payments on major capital items and payments have been progressed for all long lead items – including 17 CAT 785 dump trucks, seven blast hole drill rigs, three excavators, dozers, graders and water trucks.

ADES International Holding PLC (LON:ADES) said Khaled Hassan has resigned as the group’s chief financial officer. The oil & gas drilling and production services provider said Hassan has decided to step down from his position to pursue a greater role outside of the group, although he will be sticking around for a while to ensure an orderly transition. The board has already begun the search process for a successor and is confident of being able to recruit a high-quality replacement.

Canadian Overseas Petroleum Limited (LON:COPL) is advancing its deal to acquire Atomic Oil & Gas LLC and said it has achieved two important milestones. The company said it had paid US$8mln as the second payment under the agreement to buy Atomic, which secures it a 15% interest in Atomic’s leases. At the same time, COPL confirmed it had closed an equity issue to raise £3mln which is in addition to a £6mln raise announced at the end of December 2020. The share issue is at the same price and same terms.

Pembridge Resources PLC (LON:PERE) has said it is to raise £570,000 by issuing shares to some existing shareholders and directors at 4p a pop. As well as issuing 14.25mln shares to raise fresh capital, the company has issued 308,793 shares to satisfy a liability. Pembridge chief executive and chairman Gati Al-Jebouri has subscribed for 3mln shares, taking his holding up to 15.4mln shares, which is equivalent to 30.7% of the company’s share capital. The mining company said the money raised will enable it to fund its operations without requiring any additional financing to meet its current operating costs and those related to maintaining a public company.

Zanaga Iron Ore Company (LON:ZIOC) has announced that, further to the announcement dated June 26, 2020, in relation to the subscription agreement with Shard Merchant Capital Ltd, the first tranche of 7 million ordinary shares of no par value in the company have been successfully placed by Shard. As provided for in the subscription agreement, Shard has now subscribed for the second tranche of 7 million ordinary shares, conditional, amongst other things on admission of those shares to trading on AIM. Zanaga said it received net proceeds of approximately £412,322.18 in aggregate in relation to the placing by Shard of the first tranche under the subscription agreement.

Argo Blockchain PLC (LON:ARB), the leading cryptocurrency miner said it has received a notice of exercise of certain options and certain warrants over ordinary shares of £0.001 each in the capital of the company. As a result of the exercise of the options, the company has issued in aggregate 4,547,525 new ordinary shares to the holders at the exercise price of £0.16 per share. The aggregate gross proceeds to the company from this option exercise is £727,604.

Power Metal Resources PLC (LON:POW) the AIM-listed metals exploration and development company said it has received notices to exercise warrants over 23,090,600 new ordinary shares of 0.1 pence each in the company at an exercise price of 1.0p each and the exercise of 5,500,000 warrants at an exercise price of 0.7p each. Subscription monies of £217,156 have been received by Power Metal in respect of these exercises.

Conroy Gold and Natural Resources PLC (LON:CGNR), the gold exploration and development company focused on Ireland and Finland, announced that it has received notice to exercise warrants over a total of 60,000 ordinary shares of €0.001 at an exercise price of 35p each, for which funds of £21,000 have been received by the company. The warrants were issued as part of the fundraising announced by the company on August 11, 2020. The company said the proceeds from the exercise will be used for general working capital purposes.

Supermarket Income REIT PLC (LON:SUPR), the real estate investment trust providing secure, inflation-protected, long income from grocery property in the UK, said its board has declared an interim dividend in respect of the period from October 1, 2020, to December 31, 2020, of 1.465p per ordinary share, payable on or around February 26, 2021. The ex-dividend date will be January 21, 2021, with a record date of January 22, 2021. This dividend will be paid as a Property Income Distribution (PID) in respect of the company’s tax-exempt property rental business. At the group’s annual general meeting held on November 11, 2020, shareholders approved the introduction of a scrip dividend scheme. The scrip dividend alternative price is to be calculated using the average of the closing middle market quotations for an ordinary share for the five consecutive business days commencing on the ex-dividend date and will be announced and detailed on the company’s website on January 28, 2021.

Albion Capital said it is aiming to raise up to £45mln in top-up offers for five of its venture capital trusts (VCTs). The offers opened to investors this week and are expected to close no later than September 30, 2021, though each VCT may close its offer earlier or may extend to next January at its board’s discretion. Albion said the new fundraising reflects its confidence in a strong pipeline of investment opportunities in software and healthcare, including a number of companies in those sectors in its combined portfolios of around 70 growth businesses, which was valued at a combined £377mln in September.

DiscoverIE Group PLC (LON:DSCV) has been tipped to increase in value by some 80% in the coming years as it benefits from the rising uptake of electrification in industrial applications. Stockbroker Shore Capital has today begun its coverage of the London-listed designer and manufacturer of customised electronic components. “We initiate coverage with a ‘buy’ recommendation and believe that the shares have the potential to reach 1,250p within four years if the company achieves its FY2025 targets,” analyst Tom Fraine said in a note.

Red Rock Resources PLC (LON:RRR), the natural resource development company with interests in gold, copper, cobalt, manganese, and other minerals, has said it will conduct a moderated online question and answer session with chief executive Andrew Bell on Tuesday, January 12, at 7.00pm GMT. Any shareholders or others wishing to attend or submit questions should go to: https://www.bigmarker.com/share-talk/Share-Talk-Presents-A-Live-Q-A-Session-with-Red-Rock-Resources-Plc. Questions may be submitted either in advance or during the webcast.

Barclays Capital retained its ‘overweight’ recommendation but increased its price target to 175p for shares in Primary Health Properties PLC (LON:PHP) after the recent move to acquire its management company, Nexus, for £33mln. PHP said the deal will boost adjusted EPRA earnings per share, albeit with some NAV dilution, and save around £4mln per year in costs. The improved earnings will also allow the real estate investment trust to pay higher dividends while securing the management team including Harry Hyman, the REIT’s chief executive. The acquisition also removes potential or perceived conflicts of interest between Nexus and PHP and its reliance on a third-party adviser. 

 

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