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

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Aquila European Renewables PLC - investment company focused on energy efficiency projects - Says issues at Siemens Energy will not hurt Aquila European's Svindbaek asset. It is the only asset in the portfolio which currently utilises Siemens Gamesa turbines. Svindbaek accounts for around 9% of the firm's net asset value as of March 31. "A preliminary assessment carried out by the company's investment adviser has concluded that there is no evidence to suggest that the technical issues identified by SG in the above-mentioned press release affect the turbines in use at Svindbaek. Importantly, Svindbaek has not experienced serial defects in the past and the technical issues identified by SG are related to a turbine series that is not used by Svindbaek," Aquila European says. Frankfurt-listed Siemens Energy earlier in June warned that technical problems at its wind turbine unit were worse than previously thought. The group scrapped its full-year profit target and said it was setting aside more than EUR1 billion over the coming years to fix the issues at troubled wind turbine subsidiary Siemens Gamesa.

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Adnams PLC - brewer, distiller and retailer based in Suffolk, England - Says trading in first five months of 2023 "challenging", with revenue level reflecting weak consumer confidence. However, June has been more promising. Adnams says: "In June, the desire for customers to visit both rural and coastal locations, has grown, with Adnams pubs and retail businesses benefitting. June also showed signs of more positive trading in the on-trade business, growing volumes and customer numbers. As for all businesses in the sector, the outlook for the remaining six months of the year is far from certain, as the economy hopes to recover from the impacts of the cost of living crisis, inflation and continued high interest rates."

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GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - UK Financial Conduct Authority informs firm that it does not meet criteria for admission to Sandbox, a scheme which allows "innovative propositions in the market" to be tested with consumers. GSTechnologies says: "As an alternative the FCA have offered the company a place on their Innovations Pathway programme, an initiative designed to support financial services firms in launching innovative products and services, which the company is pleased to accept." Pathway means firm gets a dedicated FCA case officer to assist it with plans to develop "appropriate path for the progression of its stablecoin plans". GSTechnologies adds: "This may involve a future regulatory sandbox application or preparation for regulatory authorisation without the need for supervised testing."

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RTW Biotech Opportunities Ltd - investment company focused on the life sciences sector - Investee Tourmaline Bio Inc enters into deal to combine with Talaris Therapeutics Inc. The combined firm will focus on Tourmaline's Tour006 programme, aimed at treating thyroid eye disease and atherosclerotic cardiovascular disease. RTW Biotech had participated in a USD112 million series A financing round by Tourmaline earlier this year. On Tuesday, RTW Biotech changed its name from RTW Venture Fund.

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Beowulf Mining PLC - Sweden, Finland and Kosovo-focused mining company - Finnish unit Grafintec Oy given extension to further plot 1, block 3017 at GigaVaasa area. Beowulf eyes building a graphite anode materials plant at plot. Reservation at plot is valid until January 31, with an option to extend it further.

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EDX Medical Group PLC - London-based developer of diagnostics products to help predict disease risk - Receives "strategic investment" worth GBP500,000 from Boru Ltd. Backing comes in form of subscription of 6.3 million at 8 pence each. "The investment in the company by Boru will be used to support the expansion of EDX Medical's capabilities and support clients providing personalised care for cancer patients in the UK and Europe," EDX says.

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Bradda Head Lithium Ltd - lithium explorer in US state of Arizona - Granted filing extension in Canada for financial results for year ended February 28 to August 28, closer to the AIM deadline of August 31. The initial Canadian deadline was Wednesday, though Bradda Head said an auditor change meant it could not meet that. It notes the British Columbia Securities Commission granted a management cease trade order, which prohibits its chief executive officer and the chief financial officer of trading shares in the company for as long as the reports are not filed. Bradda Head adds: "The only reason for a change in auditor was to comply with the TSX-V requirement for an auditor to be recognised by the Canadian Public Accountability Board which our previous auditors were not. As a result of this change, the company's new auditors understandably required additional time to complete this new assignment, hence the need for a short extension."

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Nostrum Oil & Gas PLC - Independent oil and gas company focused on the Caspian Basin - Reports revenue of USD17.4 million in first-quarter of 2023, down 71% from USD60.2 million a year prior. "Although revenues decreased in Q1 2023, the management expects H1 and FY sales and revenues to remain in line with targets and expectations," Nostrum says, adding that the decline is down to output falls and lower average product prices. Earnings before interest, tax, depreciation, and amortisation weakened 89% to USD4.6 million from USD40.5 million. Output in quarter averaged 10,479 barrels of oil equivalent per day, down from 14,683 barrels a year prior.

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TPXimpact Holdings PLC - London-based IT consulting firm - Agrees reset of covenant terms for GBP30 million revolving credit facility with HSBC. Says following a waiver of covenants, it will need to "maintain minimum cash liquidity levels" on a monthly basis. It will also need to meet a minimum adjusted earnings before interest, tax, depreciation, and amortisation performance level on a quarterly basis. "Management believe the updated covenant structure provides renewed stability for the business and a sound basis for achieving its performance goals," TPXimpact says. These terms apply until the quarter ending September 30, 2024.

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Leeds Group PLC - West Yorkshire, England-based textile manufacturing company - Hemmers-Itex Textil Import Export GmbH division finds "error in its stock system". Stock at May 31 was overvalued by GBP408,000. Leeds says GBP189,000 related to financial year ended May 31, 2023 and GBP219,000 related to prior year. Leeds adds: "The programming error has now been corrected."

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World Chess PLC - London-based organisation seeking to promote "the mass market appeal of chess" - Signs three-year partnership with ITcom Domains Ltd. Partnership sees ITcom become official sponsor of World Chess's Armageddon chess series, which it describes as a "fresh new twist to the traditional and timeless game". In Armageddon also face "immense time pressure". "As part of the partnership, it.com will receive logo placement in the playing zone of the series as well as on the players' uniforms. It will also gain access to broadcasting and video content and be included in digital integration. Furthermore, it.com and World Chess plan to jointly develop services for both physical and online chess clubs that will be introduced later this year, to help popularise the game," World Chess adds. World Chess to receive more than EUR1.2 million over course of agreement.

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By Eric Cunha, Alliance News news editor

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