TRADING UPDATES: 4basebio fundraise; Geo Exploration secures grants
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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Journeo PLC - Leicestershire, England-based transport system services provider - Announces the renewal of its framework agreement with Transport UK London Bus. The agreement is expected to generate £6 million in revenues over a 5-year period and will run through to October 2031. Under the agreement, Journeo will provide CCTV, vehicle gateway technology and associated equipment for Transport UK's existing London bus fleet including 70 ancillary vehicles and those entering the fleet. These include newly purchased buses and vehicles transferred from other operators following the award of route contracts through London's competitive tendering process.
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4basebio PLC - Cambridge, England-based life sciences company - Raises gross proceeds of £15 million through the placing of 2.6 million shares at an issue price of 515 pence each, representing a discount of 8.4% to its closing price on October 14. Also aims to raise an additional £500,000 by way of retail offer. Proceeds will be used to "support commercial development", complete the fit out of its Q-Arc commercial facility, enhance R&D efforts, and support working capital. Says it will have cash runway to the second half of 2028. CEO Amy Walker says: "The strategic and operational progress of the Company since the capital raise in 2024 has been significant. We have seen steady interest and adoption in synthetic DNA in both research and clinical applications globally, resulting in significant growth in our client base and pipeline. Our expansion of the GMP-grade services for clinical trials is also fuelling the acceleration in client acquisition and revenue generation. The capital raise announced today will provide the company important resources to expand services and offerings to meet the growing demands of the genomic medicines landscape." Of the total raised, certain directors and officers have also subscribed for 54,366 shares, worth £300,000. 2Invest AG, with which 4basebio has a fully drawn £25 million loan facility, agrees to subscribe for 194,174 shares for £1 million. Also subscribes for 776,699 shares for £4 million, payment of which shall be satisfied through the reduction in the outstanding loan balance to EUR21.1 million. The maturity date of the loan will also be extended by two years to October 2030.
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Seascape Energy Asia PLC - Southeast Asia-focused exploration and production firm - Reports an acreage expansion at its Temaris asset in Malaysia. Seascape says it increases the overall area by 45% and could double the existing net mean prospective resource of around 1 trillion cubic feet. Pierre Eliet, Malaysia country chair, says: "This is a welcome portfolio addition at a time when macro events are leading the industry to re-think its strategic priorities. The value of Asian gas into Asian markets is starting to become clear, and the attractions of scarce, high-quality exploration opportunities in stable jurisdictions with strong, high-growth, high demand markets is becoming very apparent." Eliet adds: "This acreage expansion enhances the value of our Temaris asset, capturing more of the play and adding breadth and depth to our prospect inventory. It also demonstrates the belief the regulator has in Seascape to continue to develop the technical understanding of the play and its confidence in the company as an operator in the Malay basin."
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Geo Exploration Ltd - oil and gas exploration company focused on Africa, Australia and the Mediterranean - Secures grants for the Western Australian Government Co-Funded Exploration Drilling Programme - Round 34 at both the Gorge and Juno Gold Projects in Western Australia. At the Gorge Project, the application was to test the high-priority Gorge Mine and MAG001 targets via a diamond drilling programme comprising seven drill holes totalling 1,200 metres. It has been awarded a grant of AUD180,000, £93,816, to assist with direct drilling costs. At the Juno Project, it submitted an application to test the high-priority JUD003 target via a single diamond drill hole to a planned depth of 650 metres. It has been awarded a grant of AUD100,000 to assist with direct drilling costs. The grants are required to be utilised by October 2027 but, Geo Exploration intends to undertake the proposed drilling programmes in the first half of 2027. Exploration manager Tom Harris says: "I am delighted that GEO has been awarded the drilling grants and excited to see these high-priority targets tested. I wish to thank Dr Finbar Murphy and Mr Callum Baxter for their efforts in preparation of the applications and the continued support provided by the West Australian Government and the Geological Survey of Western Australia."
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Serval Resources PLC - London-based metals exploration and development company - Conditionally raises £6.5 million gross through a placing and subscription of 26.1 million shares at 25 pence each. Announces separate retail offer at the same price. Certain directors agreed to subscribe for 290,000 shares, raising £72,500. The fundraise comprises an initial tranche of 9.7 million shares and a second tranche of 16.4 million shares, plus any retail offer shares, subject to shareholder approval. Proceeds are to enable exploration ramp-up across its African copper portfolio.
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DXS International PLC - Leicestershire, England-based healthcare information and clinical decision support systems provider - Welcomes NHS England plans for a new £838.7 million open framework for general practice information technology solutions. Says this marks "a significant step towards revitalising procurement across UK general practice." The new framework is intended to replace GP IT Futures, which expired in March 2023. Says the subsequent procurement constraints have created "challenges for suppliers seeking to access the GP practice market." The tender is expected to commence in November and the framework to launch in September 2027. Says the initiative could create renewed opportunities for DXS to expand its reach across primary care. CEO David Immelman comments: "The planned framework represents a potentially important catalyst for DXS and the wider GP software market, providing greater clarity on the future procurement landscape and a route to market for innovative solutions. Since GP IT Futures was frozen in March 2023, it presented a significant barrier to DXS being able to grow our revenue and we welcome this new initiative."
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Anglesey Mining Plc - UK-based mineral exploration and development company advancing the Parys Mountain copper-zinc-lead-silver-gold volcanogenic massive sulphide project in Anglesey, North Wales - Updates on its Develop, Grow and Discover strategy. Apoints William Sale Partnership Ltd as planning consultant. "Under the company's overall leadership, WSP will define the consenting pathway, study requirements and sequencing. The programme builds on historical planning work and the December 2024 EIA scoping opinion and includes resubmission of the pre-application planning submission. The working objective is a modern planning consent for the proposed development within approximately two years, subject to completing the supporting work, consultation and determination," Anglesey says. Additionally, says it is outlining a systematic exploration drilling programme to test connections and extensions between the deposits defined to date within the broader Parys Mountain mineralised system. Finally, is progressing advanced technical studies, including targeted exploration drilling and subsequent MRE work. "The studies assist with mine design, support planning and permitting, and guide future development decisions. The programme is expected to extend over approximately 18 months, subject to defined and funded scopes," Anglesey says.
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