EARNINGS AND TRADING: Zinc Media wins USD6 million film commission
The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Panthera Resources PLC - London-based gold explorer and mine developer in West Africa and India - Reports results for the year ended March 31. Remains non-revenue generating, unchanged from the year before. Pretax loss widens to USD2.7 million from USD2.4 million. Administrative expenses increase to USD1.8 million from USD1.4 million. Impairment of receivables increase to USD77,553 from USD1,447. Panthera says it will continue to progress its arbitration claim regarding the Bhukia Project in India, and will revisit options to maximise value from its West African gold portfolio and progress work programmes at its key projects. Chair Michael Higgins says the year "was, in contrast to so many that preceded it, a year of tangible forward progress." Panthera also announces it has raised approximately £2.7 million through a placing and subscription of 15.4 million shares at 17.5 pence each. Also says Higgins intends to separately sell 2.5 million existing shares at the issue price, from which it will not receive any proceeds. Says the subscription has raised approximately £1.8 million and the placing approximately £890,000. Will use the net proceeds for working capital, including to support the arbitration claim if necessary.
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Solvonis Therapeutics PLC - London-based biopharmaceutical company focused on central nervous system disorders - European Patent Office issues notice of allowance for composition-of-matter patent application EP 22730070.4, regarding SVN-114, the lead candidate from Solvonis' proprietary post-traumatic stress disorder programme. Solvonis says it has also developed three additional chemically distinct supporting patent families through its PTSD programme, each of which has now achieved composition-of-matter grant or allowance in the US or Europe. Notes that a corresponding US application remains pending, and examination has been requested in Canada. Says it intends to progress SVN-114 through further pharmacology, pharmacokinetic and brain-exposure studies, safety pharmacology and formal abuse-liability assessment. Intends to seek grant and research funding in the UK, EU and US to advance SVN-114 towards IND-enabling development.
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Zinc Media Group PLC - London-based media company - Wins commission worth USD6.1 million to produce a 90-minute feature film for "a leading institution in the Middle East". The client and the nature of Zinc's work remain confidential until the film's public release. Expects revenue to be recognised across the current and next financial years. Says this film is one of the largest single productions it has undertaken in the Middle East, and that it will lead on all aspects of the production delivery. "This is another landmark project for Zinc and a significant step up in the scale of what we deliver in the region," comments Chief Executive Officer Mark Browning. "To be trusted with a feature film of this ambition by one of the Middle East's leading institutions is a powerful endorsement of our creative and production capability, and of the relationships we have built over two decades in the market. It is a strong proof point that our Middle East growth strategy is working well and evidence of Zinc's ability to compete and win at the top end of international production."
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