TRADING UPDATES: CT quarterly tender; Potentially application update
The following is a round-up of earnings of London-listed companies, issued on Friday and not separately reported by Alliance News:
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Talisman Metals PLC - copper exploration company in Morocco, formerly Ovoca Bio PLC - Reports significant channel sampling results from its Tirzzit copper project in Morocco, with assays returning grades of up to 2.62% copper and 44.47 parts per million silver. The results extend mineralisation by a further 70 metres, confirm a 300-metre strike length with six of seven channels above cut-off grade, and support plans for a drilling campaign targeting a prospective area spanning at least four kilometres. Chief Executive Tim McCutcheon said: "The new target outcrop at Tirzzit has produced exciting grades and is a key focus for Talisman's planned drill campaign. Given that the outcrop is about half a kilometre away from the exposed known mineralisation to the south, and that the total strike length is at least four kilometres, I am encouraged that we indeed have a large area of interest."
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CT Healthcare Trust PLC - investment trust managed by Columbia Threadneedle, focused on healthcare companies, and formerly known as Bellevue Healthcare - Announces its second quarterly tender offer since the appointment of Columbia Threadneedle as the company's alternative investment fund manager and investment manager on March 5 The offer is being made in respect of up to 15% of the CT's issued share capital at a price per share equal to the prevailing net asset value per share at September 1 less tender offer expenses per share, capped at 5% of NAV at the calculation date. Comments: Since the conclusion of the company's first quarterly tender offer on June 3, the company's share price has traded within a range of a 7.6% discount and a 1.2% premium to the company's net asset value per Share. The average discount to prevailing NAV per share at which the shares have traded since the completion of the last tender offer is 4.6%. As at July 31, being the latest practicable date before the publication of this announcement, the company's share price discount to NAV was 2.6%."
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Software Circle PLC - Manchester, England-based vertical market software investor - Proposes share premium cancellation to create £25.6 million of distributable reserves. "As a result of the share premium cancellation, future cash generated by the company would be available for the purposes of paying dividends or making share buybacks should circumstances dictate it appropriate or desirable to do so," company says. Adds: "Whilst the company has not recently paid dividends and has no share buyback programme in place, the Board considers it appropriate to retain the flexibility to do so in circumstances where such capital allocation would offer the greatest return to shareholders."
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EPE Special Opportunities Ltd - invests between £2 million and £30 million in small and medium sized companies - Intends to publish on September 9 its interim report for the six months to July 31. ERS says it does not intend to complete any buybacks after August 9. During 2026, it purchased 3.3 million shares, representing 12% of the number of shares in issue at the start of the period.
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Potentially AI PLC, artificial intelligence company, formerly Tiger Alpha PLC - Says registrations for early access to its consumer application have reached 25,000, with more than two-thirds of registrations recorded in the past 72 hours. It originally made a limited number of free licences available for its base tier Protect plan, but following the pace of registration, says it has increased that to 25,000. Chief Operating Officer Oliver Yonchev says: "The response to our free AI initiative, to support the launch of our platform, has been phenomenal and we believe is a clear signal that having all your favourite AI in one app is a value proposition that people want. We want to deliver value for our early supporters, and therefore we extended free annual access for a year on our Protect plan to the first 25,000 users. We look forward to developing and growing. Potentially alongside these users, as we build an ecosystem that supports the development of AI capabilities and our own product portfolio."
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Arrow Exploration Corp - Colombia-focused oil producer - Updates on operational activity at its Icaco field on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50% beneficial interest. On July 2, spuds the Icaco 3 well to a total measured depth of 7,710 total measured depth feet or 7,622 true vertical depth feet, encountering multiple hydrocarbon-bearing intervals. Log analysis shows 18 feet of net pay in the Carbonera C7 formation, 12 feet of net pay in the Gacheta formation and 20 feet of net pay in the Ubaque formation, for a total net pay of 50 feet TVD. The well is currently producing from the Gacheta formation at a restricted rate, 19/128 choke and 38 hertz pump frequency. Spuds the Icaco 4 horizontal well on June 13 to a total measured depth of 12,617 feet TMD or 7,297 feet TVD, encountering multiple hydrocarbon-bearing intervals. Arrow put IC-HZ4, a short horizontal well, on production on July 2, 2026 in the Ubaque formation. Spuds the Icaco 5 horizontal well was spud on July 16 to a total measured depth of 11,914 feet TMD or 7,274 feet TVD, encountering multiple hydrocarbon-bearing intervals. CEO Marshall Abbott Says: "The success of the Icaco-3 well indicates that the Gacheta formation is able to produce commercial rates. The Icaco-4 and Icaco-5 horizontal wells had very short horizontal sections to prove the Ubaque's ability to produce from a horizontal well. Future projects at Icaco are expected to include both horizontal and vertical development wells targeting the Ubaque, Gacheta and C7. These results underline the significant hydrocarbon density that exists in the Llanos basin and more exclusively in the Tapir Block. Strong netbacks and successful horizontal wells support payout occurring in months. This adds significant value and materially improves our positive balance sheet. We look forward to updating our shareholders on the progress at Icaco over the coming months."
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Wynnstay Group PLC - Powys, Wales-based agricultural supplies and specialist merchanting firm - Announces expansion of its Glasson Fertilisers blending operations at Montrose, Scotland. "This latest investment will significantly increase the group's fertiliser blending capacity, improve operational efficiency and create one of the largest fertiliser blending plants in Europe on completion. This state-of-the-art modern manufacturing platform will support both the continued growth of Glasson Fertilisers, as well as the group's broader expansion plans in Scotland," company says. The total project investment is expected to generate a return on net assets in line with Wynnstay's target of not less than 10%. The new facility is expected to double Glasson Fertilisers' blending capacity at Montrose.
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THG PLC - Manchester, England-based online retailer of sports nutrition and beauty products - Updates on the order issued by the High Court of Justice in England and Wales for the cancellation of its share premium account and capital redemption reserve on July 28. Says the order of the court confirming the capital reduction, and a statement of capital approved by the court, have been duly registered by the registrar of companies. Accordingly, the capital reduction is now effective.
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River Global PLC - London-based investment manager - Announces delay in the effective data of its announced capital reduction and return of capital due to a technical issue with the filing of the court order relating to the scheme and the subsequent transfer of the Liontrust shares received by the company pursuant to the recent sale of its subsidiary, River Global Holdings Ltd to D Shareholders under the scheme. The effective date of the scheme is now expected be on or before August 31, delayed from July 31 as previously anticipated.
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Petra Diamonds Ltd - South Africa and Tanzania-focused diamond miner - Updates on the Finsch Diamond Mine, placed into business rescue in May. Says the business rescue practitioners have presented the proposed business plan for voting. The Plan is approved by the creditors with the relevant thresholds required to give the practitioners the mandate to execute the plan. This inludes the sale of the assets of Finsch in order to recover the maximum amount of value possible for Finsch's creditors as no viable outcome to restart operations at Finsch has been found.
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