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

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Chrysalis Investments Ltd - investor in technology and finance startups - Agrees to purchase GBP20 million of equity in Starling Bank Ltd through a secondary market transaction led by an unnamed, existing third-party. Adds that its investment adviser is "optimistic" about the prospects for Starling and believes the transaction will generate future value for its shareholders. If the transaction closes, the company's gross cash and total liquidity positions would both be reduced by GBP20 million. Notes that Starling would account for roughly 15% of its portfolio including gross cash, versus 12% as of January 30.

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Tanfield Group PLC - investment firm headquartered in Newcastle upon Tyne - Gives an update on the US Proceedings relating to Snorkel International Holdings LLC. Says that the jury trial is currently expected to take place in early 2024. Tanfield holds a 49% stake in Snorkel. The equity stake is the subject of legal proceedings in the US, after SKL Holdings LLC filed a complaint against the company in court, alleging it refused to comply with contractual obligations when SKL exercised a call-option to acquire Tanfield's shares in the JV. The Snorkel investment is valued at GBP19.1 million. The outcome of the poceedings could have an impact on this valuation, it says.

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First Class Metals PLC - Metals exploration company seeking large-scale metal discoveries in Canada - Makes a second payment of CAD150,000 to Nuinsco Resources Ltd. Says that this payment will trigger the transfer of ownership of the core Sunbeam mine area claims across its Canadian Schreiber-Hemlo & Sunbeam land to the company. Says that the review of historical data started. Adds that the objective is to gain a greater understanding of this past producing high grade gold project and its district potential. "Once these key reviews are completed it will allow an acceleration and focus to the field work when the Spring thaw commences. I look forward to reviewing the data these studies provide so FCM can plan a focussed drilling campaign on Sunbeam as soon as is feasible this year. I am also pleased to confirm that our funding partners Sanderson Capital are in the process of releasing the stage two 15p GBP250,000 drawdown which covers the second instalment, now paid to Nuinsco and all other commitments we currently have on Sunbeam," Chief Executive Marc Sale comments.

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Agronomics Ltd - Isle of Man-based cellular agriculture investment firm - Notes that CellX Ltd signed a strategic partnership agreement with food manufacturing specialists Shanghai Tofflon Science & Technology Co Ltd. Says the companies will aim to accelerate the scale-up of cultivated meat in the Asian market with a new purpose-built facility. The facility will be China's first "transparent food space" for cultivated meat research & development, it adds. Agronomics invested USD2.1 million in CellX since inception.

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K3 Capital Group PLC - Bolton, England-based professional advisory services firm, focused on M&A, tax and restructuring - Will be deleted from the FTSE AIM All-Share Index on February 14, subject to the court sanctioning acquisition by Sun Capital Partners Group VIII LLC. In relation to its takeover by Sun Capital Partners, Sun Capital Partners enters into a senior facilities agreement with Tikehau Direct Lending 5 Sarl, Tikehau Direct Lending 5L Finance, MTDL Investment Sarl, Prima EU Credit Fund and PNC Financial Services UK Ltd for senior facilities of GBP145 million to secure funds for the acquisition. The amount consists of a GBP95 million senior term loan facility to be provided by the Tikehau lenders, a GBP20 million senior capex and acquisition facility to be provided by the Tikehau Lenders, a GBP15 million super senior term facility to be provided by PNC, and a GBP15 million super senior original revolving facility to be provided by PNC.

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By Abby Amoakuh, Alliance News reporter

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