PLANT HEALTH CARE PLC (Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Plant Health Care PLC - Manchester-based provider of novel patent-protected biological products to global agricultural markets - Announces intention to raise up to GBP2.8 million through the issue of up to 31.0 million shares at a price of 9 pence each. Price represents a 4.3% discount to the firm's closing price on Wednesday. The issue will take place through a placing to new and existing investors and a subscription to existing investors and directors. It will take place via an accelerated bookbuild process, which launches immediately. The proceeds will be used to "capitalise on the company's strong growth momentum" by delivering the "required working capital to accelerate commercial opportunities through strategic investment in both inventory and product launches."
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Tlou Energy Ltd - Botswana and Southern Africa-focused energy company - Updates on entitlement offer which raised AUD6.6 million, around GBP3.7 million, through the issue of 188.2 million shares. Application has been made for these shares to trading on the Australian Securities Exchange, London's AIM, and the Botswana Stock Exchange. Following the issue of the shortfall shares, the underwrite ILC Investment Pty Ltd will hold around 35% of the company.
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Roquefort Therapeutics PLC - London-based biotechnology company focused on developing first-in-class medicines in the oncology market - Reports progress of its anti-cancer RNA oligonucleotide programme targeting midkine expressing cancers producing more than 90% in vitro efficacy, at the mRNA level, in human liver and neuroblastoma cancer cells. Says a team involved in study has detected a novel peptide corresponding to the truncated midkine protein from cancer cells. "This in vitro proof-of-concept experiment utilised advanced proteomic analysis using mass spectrometry. The study confirmed that the company's novel anti-sense oligonucleotides produced a novel non-functional midkine protein," the company says. Company's programme will now progress into in vivo studies, which are expected to complete in the final quarter of 2023.
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Fulcrum Metals PLC - Canada-focused mineral exploration and development company - Completes phase two exploration at its Big Bear property at the Hemlo project. This exploration phase comprises 139 kilometres of geological traverses and the collection of 129 rock samples. Work focussed on Cook Lake North, Johnston-McKenna and Schreiber Pyramid prospects. Ground works at the Jackfish property at the Hemlo project to begin later this week along the "prospective, but little explored" eastern and northern volcanic contact zone. Work will consist of a two-week programme of geological mapping, prospecting and rock sampling. Chief Executive Ryan Myee says: "We are entering an extremely busy period of exploration for Fulcrum, as we set about identifying and developing the significant potential of our assets through discovery and commercialisation."
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By Heather Rydings, Alliance News senior economics reporter
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