TRADING UPDATES: Hays increases buyback; Acuity's contract expansion
The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Hays PLC - London-based staffing provider - Increases the maximum size of its share buyback programme to £10 million from £5 million. The programme commenced last Monday and will end on or before the end of July.
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Acuity RM Group PLC - London-based risk management company - Announces a contract expansion with an existing customer. Acuity says the new three-year contract, worth in excess of £100,000, comprises a professional services component, covering the migration of the customer’s on-premises STREAM Classic deployment to STREAM Classic SaaS, third party risk management deployment, and a recurring subscription component. The deal increases the recurring revenue contribution from this customer and extends the customer relationship for a further three years. Chief Executive David Rajakovich says the customer has indicated ‘potential for further expansion of its use of STREAM over the life of the contract.’
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Helical PLC - property developer targeting London - Kicks off GB5 million share buyback on Monday. Peel Hunt LLP will undertake the buyback which shall run until September 30 at the latest.
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Total Graphite PLC - specialist flake graphite supplier, formerly called Tirupati Graphite PLC - Says that it has initiated a graphite portfolio optimisation programme to evaluate the options available to accelerate development and maximise value for shareholders. This follows an advanced stage of the operational turnaround of its Madagascar operations being reached, The programme will evaluate a range of strategic alternatives, including funding options to accelerate the development of each asset, the introduction of strategic partners, joint ventures, partial divestments, or a potential sale of individual assets. An expression of interest in some assets has recently been received, Total Graphite notes. ‘Discussions remain at an early stage and there can be no certainty that any transaction will result,’ it adds. To support strategic priorities and next phase of development, a number of board changes have been made. Thomas Hill, currently chief financial officer, is appointed to the board as finance director, Andrew Wright joins as non-executive director and Mark Rollins steps down as non-executive chair. Christian Dennis, current non-executive director, is named interim non-executive chair whilst a process to appoint a permanent chair is conducted.
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Zenith Energy Ltd - energy production company with interests in the US, Italy, and Tunisia - Announces the acquisition of an additional 5 megawatt peak ground-mounted photovoltaic development project in the Lazio region of Italy. This strengthens Zenith’s growing Italian renewable energy portfolio, and takes its total solar development pipeline to 188.5 MWp, another step towards the objective of exceeding 200 MWp of solar development capacity by the end of 2026. Consideration is payable only upon securing all required permits and achieving ready-to-build status. The purchase price for the land is €440,000. Construction is expected to commence in July, with commissioning targeted for the third quarter. Chief Executive Andrea Cattaneo says: ‘In just eighteen months, we have established a substantial solar development portfolio in Italy by leveraging the operational expertise and market knowledge developed through more than a decade of electricity production activities in the country. We are now approaching an important milestone with the expected commissioning of our first solar plant in Puglia during Q3 2026, which we believe will provide a catalyst for the next independent valuation of our solar portfolio.’ In addition, the CEO said Zenith is evaluating a potential disposal of a development projects to a ‘leading’ national renewable energy operator. ‘We believe such a transaction could unlock significant value for shareholders while providing additional funding to accelerate the progression of other pipeline assets towards production, and we look forward to updating the market as discussions progress,’ he adds.
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Jangada Mines PLC - natural resources development company - Starts its fully funded phase 2 drilling programme at the Molly gold project in Brazil, following recent positive drill results highlighting the project’s potential. The 10-hole diamond drilling programme totalling around 1,100 metres plans to test high-grade mineralisation at Molly 1 and evaluate the western and southern extensions of the newly discovered Molly 2 mineralised corridor. A 350 line-km mag-drone survey will provide detailed structural and lithological information across the project area and 20.8 line-km ground IP survey will be used to identify sulphide-bearing zones and extensions of the known mineralised systems. After the Mag-drone and IP surveys, an 8-hole diamond drilling programme, of around 1,400 metres, will be undertaken. ‘We believe the Molly gold project has huge potential,’ says Chief Executive Paulo Misk. ‘This next phase of exploration has been designed to refine our geological models, expand the known high grade narrow vein mineralised zones, and generate new drill targets through the integration of high-resolution geophysical surveys and focused diamond drilling programmes. This programme is expected to significantly enhance the understanding of the structural framework controlling gold mineralisation and support future resource growth opportunities across the Molly project,’ Misk adds.
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Oriole Resources PLC - West and Central Africa-focused gold explorer - Announce further results from the step-out diamond drilling programme at the MB01-S deposit at its 50% owned Mbe orogenic gold project in Cameroon. The total JORC inferred mineral resource estimate at Mbe currently stands at 1.23 million ounces contained gold across both the MB01-S and MB01-N deposits. The programme has now been completed for 2,476.80 metres in 10 holes and results for the remaining five holes are expected later this month. Thereafter, it is anticipated that an updated JORC MRE will be reported for MB01-S in early third quarter.
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