(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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Byotrol PLC - Chester, England-based specialist infection prevention and control company - Reports revenue in the year to March 31 fell to GBP4.6 million, down 27% from GBP6.3 million the year prior. Pretax loss widened to GBP1.8 million from GBP1.3 million and loss per share of 0.26 pence compared to 0.07p. Gross margin on product sales, pre-exceptional charges, improved to 42.6% from 37.0%. Says results in line with expectations in a year of "sizeable change." Remains engaged and highly confident in the company's positioning and in its financial prospects. Looks forward to a year of significant revenue growth and returning to profitability.

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RM Infrastructure Income PLC - invests in loans to infrastructure assets - Announces that it continues to actively progress discussions regarding a potential combination of its assets with another suitable investment company or fund. Explains a further approach has been received alongside one other proposal highlighted on July 10. But, stresses there remains no certainty that either of the approaches received will develop into a recommendable transaction. Will provide a further update when appropriate.

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Real Estate Investors PLC - Midlands, England-focused real estate investment trust - Reports year to date disposals of GBP8.7 million at an aggregate uplift of 11.7%. Priority remains to repay debt with a view to reducing portfolio gearing levels. Reports at July 28, a debt repayment of GBP7.3 million, reduced total drawn debt to GBP64.2 million from GBP71.5 million at December 31. Says during the first half "we have seen unfavourable and unstable market conditions for the real estate market, including monthly interest rate rises, stubbornly high inflation and no end to the war in Ukraine."

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Surface Transforms PLC - Liverpool-based maker of carbon?ceramic material automotive brake discs - Sales for the six months to 30 June grew to GBP3.3 million from GBP2.9 million, up 14%. Notes the volume of manufactured discs during the period increased by more than 80%, reflecting the improvements made in production during 2023. Gross cash at June 30 fell to GBP4.5 million from GBP14.9 million at December 31. Warns gross cash at December 31 is now expected to be no worse than GBP1 million lower than previous estimates. Revenue expectations for 2023 and 2024 are unchanged and the company expects to be profitable in the second half of 2023.

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BioPharma Credit PLC - specialist life sciences debt investment trust - Notes Biogen Inc has agreed to buy Reata Pharmaceuticals Inc for an enterprise value of around USD7.3 billion. Explains company made an investment in a senior secured loan to Reata of up to USD137.5 million in May, in up to four tranches. The loan is expected to be prepaid upon the closing of the transaction. Expects to receive a make-whole payment for the remainder of the two-year make-whole period along with a prepayment premium of 3%, in each case with respect to the principal repaid.

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Eqtec PLC - London-based technology firm which focuses on distributed, decarbonised, new energy infrastructure via waste-to-value solutions for hydrogen, biofuels, and energy generation - Announces successful completion of steam-oxygen gasification tests carried out in partnership with the Energy from Biomass & Wastes team. Yoel Aleman, chief technology officer of Eqtec says: "These tests represent an important milestone for Eqtec in our technology innovation roadmap. The development of a steam-oxygen gasification process is key to application of Eqtec syngas to generation of a diversity of offtakes including hydrogen, methane or other biofuels."

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Tertiary Minerals PLC - US and Zambia-focused mineral exploration and development company - Advises that the necessary permissions have now been received from the Forest Department in Zambia to carry out the proposed soil sampling programmes in the forest areas within the Mukai and Mushima North project licences. Executive Chair Patrick Cheetham says: "We know that our shareholders have been waiting patiently for these permits to be granted but we are now clear to start the company's 2023 exploration projects on these two exciting copper projects." Adds: "Our objective is to now complete soil sampling over the exciting targets we have developed at Mushima North and Mukai as well as at our Konkola West project."

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Premier African Minerals Ltd - Provides a further update on the Zulu Lithium and Tantalum project and the offtake and prepayment agreement entered into between Premier and Canmax Technologies Co Ltd. Reports talks with Canmax are at an advanced stage and have been constructive. Believes there is a common understanding between the parties and they are close to a satisfactory resolution. Says Zulu project plant supplier Stark International Projects Ltd has not been able to deliver spodumene concentrate as expected and production projections will need to be reviewed. Says spodumene concentrates produced to date contain in the region of 50% spodumene, but also up to 30% in mica minerals that cause a dilution of the spodumene grade. With improvements through ongoing optimisation and a refloating of concentrates produced to date, company expects that the plant will produce spodumene to SC6 grade.

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By Jeremy Cutler, Alliance News reporter

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