TRADING UPDATES: TMT write-down; Eco starts new platform production
The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Truetide PLC - Glasgow, Scotland-based investor in listed and unlisted companies in technology sector, formerly known as Braveheart Investment Group PLC - Trevor Brown, chief executive officer, steps down as a non-executive director of Autins Group PLC with immediate effect. Truetide, which holds a 29.09% stake in Autins, retains the right under their relationship agreement to appoint a representative to the Autins. ‘Truetide remains a committed long-term investor in Autins and retains the right to exercise its board nomination right under the Relationship Agreement in the future, should it consider this to be appropriate,’ company says.
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Georgina Energy PLC - onshore helium and hydrogen explorer with permits in Australia - Agrees terms of an aboriginal land rights agreement with the Central Land Council regarding exploration permit 155, which hosts the Mt Winter prospect. Under the terms of the ALRA Georgina intends to expedite the prospect re-entry and development program for the highly prospective Mt Winter project along with its Hussar project in the Officer Basin which is currently being prepared for a drilling program. Georgina will complete the settlement with Mosman Oil & Gas including the payment of A$300,000 on granting of the permit. The agreement will now be submitted to the traditional owners prior to execution then submission to the minister of the Northern Territory Department of Mines and Energy for formal granting. CEO Anthony Hamilton says: ‘The company now has two active development workstreams, with Mt Winter progressing toward formal grant and Hussar advancing through pre-drill civil engineering works ahead of the planned [third quarter] 2026 drilling programme.’
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TMT Investments PLC - venture capital investor in high-growth technology companies - Says in line with its ‘prudent approach to valuing its portfolio investments’, plans to write down the value partially or fully of at least seven of its smaller investments for a total value currently estimated at $3 million. Executive director Alexander Selegenev says: ‘In the first half of 2026, TMT’s shares continued to trade at a 60%+ discount to NAV, representing a highly attractive investment opportunity. The latest increase in the value of TMT’s investment in Backblaze has further increased the upside of this holding. At the 1.16 EUR/USD exchange rate, the $77 million value of TMT’s position in Bolt and the $25 million value of TMT’s position in Backblaze was approximately $20 million greater than TMT’s entire market capitalisation as of 23 June 2026. The company’s continuing share buyback programme has been capitalising on this opportunity, with approximately 75% of the approved total buyback value having been completed to date.’
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Cobra Resources PLC - South Australian mineral exploration and development company - Announces further rare earth resource definition results at the Boland Prospect and initial drilling results from the Head Prospect. Drills 74 drillholes at Boland and Head, designed to support an initial mineral resource estimate for the project’s unique, controlled aquifer-hosted ionic rare earth element mineralisation which is amenable to low-cost in situ recovery. In addition to the REE assays, favourable results from initial analyses to support net acid production potential estimates and permeability have been received. Says these will support the MRE inputs as key economic factors. Highlights include: drillhole CBSC0071, which intersected 5.95 metre at 1,232 parts per million total rare earth oxide from 27.8 metres including 1.45m at 4,186ppm TREO from 27.8m; and CBSC0074, which intersected 6.65m at 636ppm TREO from 26.6m. Managing Director Rupert Verco says: ‘Results from the Head Prospect indicate the presence of a significant system that remains open to the north and south. The prospect contains all the right features to enable cost-efficient ISR - aquifer confinement, acid generation and highly permeable mineralisation. It highlights that the target geology within the Pidinga formation is likely to be regionally extensive across the [3,200 square kilometres] of palaeochannel systems contained within the company’s landholding. The opportunity we are developing is truly unique.’
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Eco Buildings Group PLC - London-based sustainable construction firm - Begins construction on its second-generation AI-enabled manufacturing platform at its production facility in Durres, Albania. ‘This represents a major milestone in the company’s evolution and the first significant deployment of the recently raised capital into productive, high-return assets. Eco expects to have this second manufacturing line operational within [the fourth quarter] of this year,’ Eco comments. Says the new platform has been ‘substantially redesigned and re-engineered’ using operational data, engineering learnings and manufacturing intelligence from its production line in Albania
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Buccaneer Energy PLC - Texas-focused exploration company, previously known as Nostra Terra Oil & Gas - Completes a reserve valuation update in connection with its credit facility with WAFD Bank, formerly Washington Federal Savings and Loan. ‘The updated valuation confirms an increase in proved reserve volumes and forecast cash flow, supporting the continued strength of the company’s asset base, notwithstanding the lender’s more conservative oil price outlook,’ Buccaneer says. The update shows total net proved reserves increases by 18%, forecast cash flow increases by 27%, and net present value at a 9% discount increases to $11.8 million.
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ImmuPharma PLC - London-based specialist drug discovery and development company - Notes the recent article published in the scientific journal Autophagy, which reports early-stage research conducted by the University of Murcia relating to its P140 peptide and its potential application in the brain cancer, glioblastoma. ‘ImmuPharma acknowledges the quality of the scientific work conducted by the UoM in this area and confirms that it has been aware of, and has followed, this research since 2024 and is in regular contact with the research team at UoM. These findings are supportive of ImmuPharma’s broader scientific work on P140 and are consistent with the scientific rationale underlying the program. P140 remains ImmuPharma’s lead asset, and the company’s primary focus continues to be the advancement of P140 in autoimmune disease,’ company says.
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Pennant International Group PLC - Cheltenham, England-based provider of systems support, technical services and training with a focus on the defence sector - Announce its first sale of Auxilium - GenS via its global partnership with Siemens to a North American digital engineering customer that supports defence, national security and space domain missions. This follows the agreement announced in July 2025, under which Siemens Digital Industries Software is licensed to distribute Auxilium - GenS as part of its Teamcenter platform. CEO Phil Walker comments: ‘This first sale of Auxilium - GenS via our global partner (although small) is a significant milestone, evidencing the commercial traction we are beginning to generate from our agreement with Siemens post the successful onboarding of Auxilium - GenS to Siemens’ Teamcenter platform. Embedding our technology within Teamcenter provides us with access to a global customer base and reinforces our strategy to scale Auxilium through high-quality partnerships. We are encouraged by this early progress and see substantial opportunity to build momentum in North America and beyond.’
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Frontier IP Group PLC - London-based company focused on commercialising intellectual property - Attracts £300,000 investment from SEED Innovations Ltd, an investment fund focused on AI and robotics, to accelerate scale up of its selective, adaptive and modular harvest robots. The investment builds on, and is on the same terms as, the £2.2 million investment round led by Elbow Beach and completed in April 2026, alongside £1.7 million in grant funding. It will be used to support commercial farm trials and further technology validation, Frontier says. If the trials are successful, Fieldwork expects robot fleets to be operating on farms during 2027.
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Zinc Media Group PLC - London-based television and audio production company - International sales division Zinc Distribution secures several international sales for its documentary Brexit: A Very British Civil War. The June 8 launch drew 800,000 viewers and an 8.3% audience share, and was met with strong critical acclaim, including a five-star review from The Telegraph and four-star reviews from The Guardian and the Financial Times, company notes. Zinc has completed licensing agreements covering North America, BBC News Arabic, Persian, Ukraine and Russia, and RTE in Ireland. Expects further broadcaster agreements shortly.
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