TRADING UPDATES: Gledhow to change name, focus on natural resources
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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Anemoi International Ltd - British Virgin Islands-based holding company - Investors provide USD2.2 million of subscription funds under new advanced subscription agreements ahead of the previously announced Trasna reverse takeover transaction. Funds are to be utilised as growth capital for Trasna and will convert into equity at completion, at a 20% discount to the RTO pricing. In the event the RTO does not complete, these advances will convert into shares in Trasna Solutions Technologies Ltd. Separately, enters into a further ASA for USD1.1 million, which will be retained by Anemoi for growth capital and convert into equity at completion, at a 20% discount to RTO pricing. In the event the RTO does not complete, the advances will convert into AMOI shares. Chair Duncan Soukup says: "I am pleased to report that the proposed Trasna RTO is progressing apace and, while there is always execution risk, I am confident that the prospects for completion by the end of Q3/2026 or early Q4/2026 remain realistic."
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Hargreave Hale AIM VCT PLC - venture capital trust investing in AIM-listed stocks in London - Announces a special dividend payment of 0.75 pence per share. The distribution returns profits from the realisation of Hargreave's investment into AnimalCare Group PLC following its sale to CCP Paw 2 Ltd, a wholly-owned subsidiary of funds managed or advised by Charterhouse Capital Partners LLP.
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Gledhow Investments PLC - London-headquartered investment firm focused on small to medium undervalued or fast-growing companies - Agrees bindings subscription agreement to raise £400,000 through the issue of 40.0 million new shares at 1 pence each, a 122% premium to its 0.45p closing price on Wednesday. Separately, agrees to acquire Penina Resources Ltd for 21.9 million new shares. Penina is a non-trading cash entity with £219,000 in cash and no liabilities. Gledhow intends to use the acquired cash to extinguish £219,556 of outstanding convertible loan notes. Following completion, Sam Quinn and Cameron Pearce will join the board as non-executive directors, while Geoffrey Melamet will resign as a director. Gledhow also plans to change its name to Penina Investments PLC and focus on natural resources opportunities. Says these developments "represent an important step forward for Gledhow." Adds: Following completion, the company will have a materially strengthened balance sheet, an expanded board with significant natural resources and capital markets expertise, and enhanced financial flexibility to pursue new opportunities...The proposed appointments of Sam Quinn and Cameron Pearce are integral to this strategy. Both have extensive experience in the financing, development and management of natural resources businesses and a track record of involvement with companies operating across international capital markets. The board believes the combination of additional capital, reduced indebtedness and enhanced sector expertise will provide a strong platform from which to pursue opportunities capable of delivering long-term value for shareholders.
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