Manolete Partners announces record investment in new business

(Alliance News) — Here is a list of updates from the London-listed companies, which were published on Thursday and not separately reported by Alliance News:

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Franchise Brands PLC – Manchester-based owner of the ChipsAway, Willow Pumps and Metro Rod brands – announced that today’s general meeting has passed decisions on fundraising and the acquisition of Hydrooration 1 Ltd, owner of Pirtek Europe Ltd. As a result, both are expected to be completed upon admission tomorrow. Stephen Hemsley, Chairman, said: “The acquisition will expand the Group’s operations to ten countries and support the Board’s ambition to create a leading multi-brand B2B international franchisor, generating equal profits from the UK, North America and continental Europe.”

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Tertiary Minerals PLC – Zambia and Nevada’s focus on energy transition and precious metals – has announced the start of the 2023 exploration season in Zambia and is providing an update on the Lubuila Copper project, which will begin its soil sampling program next week. A soil sampling contractor has been selected and Indigenous and community involvement in the project will be explored this week. “Our interpretation of the atmospheric magnetic images at Lupuela indicates that large areas of promising lithospheric rocks have yet to be explored by previous researchers and these areas are the focus of our first round of exploration,” says Executive Director Patrick Cheetham.

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Ondine Biomedical Inc. — a Vancouver-based life sciences company that innovates in photodisinfection therapies — reports that photodisinfection is highly effective against major foodborne pathogens, achieves complete elimination of Enteric Salmonella and MRSA biofilm, and meets food safety requirements.

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VinaCapital Vietnam Opportunity Fund Ltd – reports Asia Investment and Finance Ltd, a subsidiary of VinaCapital Group, has purchased 50,000 shares at £4.25 each, with a value of approximately £212,500. After this transaction, VinaCapital Group owns 2.9 million shares, representing 1.80% of the company’s total voting rights.

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Manolete Partners PLC – UK insolvency litigation funder – reports final number of new case investments for financial year 2023 to 31 March was 263, 65% higher than 159 new case investments for previous financial year – adds total for fiscal 2023 exceeds highest Is Manolete ever recorded. He explains that the increase reflects strong growth in the second half of the year, when new investment in the business rose 122% over the previous year. It notes that the number of new cases rose 48% to a record 798 in fiscal 2023, again with a particularly strong 60% increase in the second half. As a result, it expected to record a pre-tax profit of £1.6m for the second half of the financial year and a loss of £3.9m for the financial year.

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Technology Minerals PLC – a London-based mineral developer – announced that Jonathan Mark Swan has voting rights to 6.99% of the share capital. The former significance was non-existent.

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Pembridge Resources PLC – a British mining company with investments in British Columbia, Canada – Minto Metals Corp., in which Pembridge has an investment, is issuing a statement regarding an inspector’s directive issued to Minto by the Minister of Mines and Energy Resources, Government of Yukon regarding water storage. The inspector informed Minto that the water was being used in violation of the terms of Minto’s water permit. Minto was required to take a number of corrective actions.

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Kendrick Resources PLC – a mineral exploration and development company with vanadium, nickel and copper projects in Scandinavia – announces the first results of its first diamond exploration program at the Stormyra Deposit in Espedalen, Norway. “The first batch of results from the drilling program in Norway are very satisfactory and confirm our belief that there is a very high potential for resource confirmation and renewal,” said Chief Executive Officer Colin Baird.

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National Grid PLC – Electricity Infrastructure Company – Electricity Distribution subsidiary has agreed to buy back £115.8m of 5.75% equity instruments of £800m due April 2032. The buyback will be settled on or about 24th April . After completion of the buyback, the amount of instruments outstanding will be £684.2m.

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By Jeremy Cutler, Alliance News correspondent

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