TRADING UPDATES: Mollyroe completes Cascade acquisition; SSE buyback
The following is a round-up of earnings for London-listed companies, issued on Friday and not separately reported by Alliance News:
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Mollyroe PLC - investment firm focused on AI business opportunities - Completes acquisition of AI-native film production platform Cascade. The company's open beta cycle closed successfully on October 9, and the Cascade platform is now fully live. Mollyroe Chief Executive Darren Hopkins says: "We are delighted to have completed the acquisition with the support of our new investors and to have Cascade operating as a public company. Since the beta launch in early June, we have been hugely encouraged by the growing number of subscribers trialling the platform and have recently onboarded our first enterprise level customers. The new funds raised will enable the rollout of our formal customer acquisition strategy with the platform now fully live, whilst also supporting wider marketing initiatives and platform upgrades. We are excited by the early progress made and will be providing further updates soon."
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SSE PLC - Perth, Scotland-based electricity generator - Updates on planned £105.0 million buyback, through which it intends to reduce its share capital to honour its commitment to cap scrip dividend take-up at 25% for the year to March 31. This is in line with its dividend plan to 2030. Provides irrevocable, non-discretionary instructions to UBS AG London Branch to undertake the buyback, which will begin on Monday, October 12 and run no later than January 31 2027. The maximum number of ordinary shares to be acquired under the programme will not exceed 4.2 million.
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