TRADING UPDATES: AB Dynamics buys eMpulse; Mila hails Monal results
The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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AB Dynamics PLC - Wiltshire, England-based supplier of advanced testing, simulation and measurement products company - Announces acquisition of eMpulse Test Systems LLC, which designs and supplies advanced servoelectric test systems to the global automotive industry for applications in noise, vibration and harshness, among others. The initial consideration is USD11.0 million, with a contingent consideration of up to USD15.0 million to be payable in cash across three tranches for three years after acquisition completion, subject to meeting performance criteria in each performance period. AB Dynamics says the acquisition supports its expansion in the Testing Products division, in particular in relation to laboratory testing equipment, "where eMpulse's product portfolio is seen as highly complementary to the group's existing servoelectric test system offering, the Suspension Parameter Measurement Machine." AB Dynamics Chief Executive Officer Sarah Matthews-DeMers says: "eMpulse has a first-class reputation for providing testing products to its North American original equipment manufacturer customer base and we look forward to leveraging the established global customer relationships and sales capabilities of AB Dynamics to drive cross-selling and expand this further internationally."
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Cloudified Holdings Ltd - British Virgin Islands-incorporated shell company anticipating planned reverse takeover of PowerPlay Media & Entertainment Ltd - Notes that PowerPlay executed a strategic memorandum of understanding with Penrose Systems, a mobile content and distribution platform with access to around 350 million mobile users. Further, Power Play reached a commercial agreement with YATOP, TikTok's media optimisation agency based in Los Angeles, among other things. PowerPlay Media Executive Chair Othman Shoukat says: "These developments demonstrate the PowerPlay model working as intended: monetising the content assets we control and the commercial relationships we have developed through a capital-light, scalable structure." He adds: "Once fully established, the YATOP and Framerate agreements are expected to generate combined recurring revenue of approximately USD1.3 million annualised, without requiring capital investment or fixed-cost commitments from PowerPlay."
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Hydrogen Utopia International PLC - London-based company which transforms non-recyclable waste plastic into hydrogen, clean fuels and advanced materials - Enters into master services agreement with London-based io consulting energy UK LLP, which provides front-end loading and strategic advisory services across the energy, chemicals, resources and decarbonisation sectors. io is a strategic joint venture between McDermott and Baker Hughes. Under the terms of the agreement, io will provide Hydrogen Utopia with engineering and consulting services to support the development and commercialisation of Hydrogen Utopia's waste-to-hydrogen and waste plastic-to-sustainable aviation fuel projects. Hydrogen Utopia Chief Technical Officer Duncan Snelling says: "We are very pleased to be working with io consulting. Their experience as project architects across complex energy developments will be valuable as we advance our UK SAF opportunity and wider advanced fuels portfolio. io's ability to integrate the technical, commercial and project development elements of complex projects will help us progress these opportunities on a co-ordinated way as they move towards investment and delivery. We look forward to working closely with the io team on the UK SAF project and, as our pipeline develops, on future advanced fuels projects."
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Mila Resources PLC - gold exploration firm focused on Australia - Celebrates "highly positive" geophysics results from Monal copper-gold project in southeastern Queensland. The firm says latest rock chips from quartz veins with visible sulphides returned results up to 0.72 grammes of gold per tonne, 1.77% copper and 51 grammes of silver per tonne. Historic reports list rock chip samples of up to 2% copper, it adds. Executive Chair Mark Stephenson says: "We are particularly excited by the scale and quality of the targets now emerging and intend to advance them. These results further demonstrate the depth and quality of Mila's broader asset base and the potential for multiple projects to deliver substantial value for shareholders."
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NeoTerra Group PLC - Africa-focused resource exploration and development, formerly named Altona Rare Earths PLC - Says selected Valentine Enterprises to lead the US Trade & Development Agency-funded pre-feasibility study at its Monte Muambe rare earths project in Mozambique. NeoTerra says: "Valent brings a rare combination: hands-on USTDA delivery experience, deep African mining expertise, and critical minerals commercialisation know-how." Valent has partnered with two specialist firms for the study, SGS North America Inc, and New Dominion Consulting LLC. NeoTerra CEO Cedric Simonet says: "Valent, SGS and New Dominion all bring a reputation for excellence, and together they're the right team to deliver this Study. I'm looking forward to advancing the Project through drilling and metallurgy, and to securing our future supply chain."
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Sunrise Resources PLC - focused on industrial mineral projects in Nevada - Reports "encouraging" phase three drilling results from its Pioche sepiolite project in Nevada and highlights the "major potential" for the project's sepiolite in drilling fluid applications. Says it is now working to identify a development partner for Pioche to advance the project. Executive Chair Patrick Cheetham says: "While our immediate expenditure priorities are on advancing our expanding precious and base metal exploration portfolio, Pioche remains a significant value catalyst for the company. The latest results broaden the commercial development opportunities for Pioche as we double down on work to valorise the project and secure a development partner."
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