EARNINGS AND TRADING: Irish Continental agrees acquisition
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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Marula Mining PLC - London-based Africa-focused mining and development company - Shares remain suspended from the AQSE Growth Market as its audited financial statements for the year to December 31 2024 will not be published by July 31 2026, as previously expected. "The audit process is ongoing and will require further time to complete," company says.
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Quantum Blockchain Technologies PLC - London-based blockchain research and development - Says information has become publicly available via United States Patent and Trademark Office records indicating that a notice of allowance has been issued by in respect of its patent application "Message Scheduling for Cryptographic Hashing", referred to as 'ASIC Ultra Boost.' "The company is in the process of confirming the details of this development with its UK and US patent attorneys and will make a further announcement as soon as it is in a position to do so," Quantum says.
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Nostrum Oil & Gas PLC - Kazakhstan-focused oil and gas exploration and production company - Launches tender offer for USD250.0 million 5.00% senior secured notes due 2026, offering to buy up to USD30.0 million of notes at between USD400 and USD650 per USD1,000 principal amount via a reverse Dutch auction. Says the offer forms part of a revised restructuring transaction agreed with noteholders to extend the maturity of senior secured and senior unsecured notes to Dec 31 2030. Adds that a potential purchaser has renewed interest in acquiring the group, with due diligence ongoing, and says any transaction could enable repayment of senior secured notes in full and senior unsecured notes in part.
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Glenstone REIT PLC - real estate investment trust - Urges Alternative Income REIT PLC to publish its quarterly trading update after noting that AIRE declared its fourth interim dividend without the usual accompanying shareholder update. Notes its increased final cash offer for AIRE of 71.4 pence per share includes the value of the 1.4 pence dividend, meaning the offer price would be 70.0 pence per share if the dividend is paid. Says its offer remains the only proposal open for acceptance by AIRE shareholders and it intends to continue buying AIRE shares in the market.
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Irish Continental Group PLC - Dublin-based ferry operator - Agrees recommended cash offer from Bluefin Bidco Ltd for EUR8.00 per share. Says the offer values ICG's entire issued and to be issued share capital at approximately EUR1.2 billion and represents a 28% premium to its closing share price on July 24. Notes the management team, which currently owns around 23.7% of ICG, will retain a significant stake in the business following completion. The independent ICG board unanimously recommends shareholders vote in favour of the deal, which is expected to complete in the fourth quarter of 2026.
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Team Internet Group PLC - London-based internet services company - Says first half trading was in line with market consensus, behind the first half of 2025 but ahead of the second half. Says this comes even as the legacy AdSense for Domains revenue reached a negligible level. Adds that Comparison and DIS sustain momentum, growing adjusted Ebitda by 54% and 28% year-on-year respectively. Search returns to profitability in June, "driven by sustained efficiency gains, disciplined yield management and the scaling of related search on content." Comments: "With the Group's earnings typically weighted towards the second half of the year, this progress underpins the Board's confidence in a stronger second-half performance and a return to year-on-year earnings growth in the second half of 2026." Second half gross revenue falls to USD179.1 million from USD263.9 million a year ago. Adjusted Ebitda drops to USD19.5 million from USD24.6 million.
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Pinewood Technologies Group PLC - Birmingham, England-based firm software provider for automotive sellers - Receives non-binding possible cash offer from UK Piston Bidco Ltd, a vehicle indirectly owned by entities administered by Ridgeview Partners LLC, of £4.48 per share. Says the possible offer values Pinewood at approximately £545 million and represents a 43% premium to its July 23 closing share price. Offer gives eligible shareholders the option to receive an unlisted limited liability company interest in a company incorporated under the laws of the Cayman Islands and managed by Ridgeview for each Pinewood.AI share, subject to a £250 million cap. Says the Pinewood board would be minded to recommend the offer if a firm intention to make an offer on the same terms is announced. Adds that shareholders representing approximately 48.7% of Pinewood's issued share capital have provided letters of intent to support the possible offer.
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