TRADING UPDATES: VH Global Energy agrees to USD134 million asset sale
The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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VH Global Energy Infrastructure PLC - London-based investor in energy infrastructure, formerly known as VH Global Sustainable Energy Opportunities PLC - Agrees to the USD134 million sale of its two operating liquid storage terminals in the Port of Brownsville on the Texas Gulf Coast to Victory Hill Midstream CV I LP, a newly established continuation vehicle. "The transaction represents a significant milestone in the company's shareholder-approved asset realisation strategy and delivers an attractive combination of value realisation, liquidity and execution certainty for shareholders. The board believes the transaction demonstrates the benefits of a proactive approach to portfolio realisation and reflects the quality and performance of the underlying assets," company says
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Connecting Excellence Group PLC - Leeds-based international executive recruitment company - Existing strategic investor Adam Back agrees to subscribe for 38.5 million shares through the transfer of 10 Bitcoin to the company at £57,800 per BTC, for a total of £577,999. Additionally, two further investors subscribe for a total of 5.2 million shares, raising a further £78,000. Of this £50,000 is subscribed in cash and £28,000 by an adviser to the company who has elected to receive shares in place of a cash fee. The subscriptions comprise 43.7 million shares in aggregate, raising £655,999. Following completion, the company will hold 72.941 BTC in its Bitcoin treasury, an increase of 15.9%, and an increase in Bitcoin per share of 6.34% (fully diluted) and 5.02% (issued).
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Helium One Global Ltd - London-based helium explorer in Tanzania, also has a 50% working interest in the Galactica Project which is operated by Blue Star Helium Ltd - Agrees to extend the offtake agreement with Blue Star Helium through the first quarter of 2027. The extended agreement continues to cover all helium produced at the Pinon Canyon Plant, company says. Negotiations on longer-term offtake arrangements continue.
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Bradda Head Lithium Ltd - North American-focused lithium explorer and owner of the Basin project in Arizona - "Announces additional high-grade surface assay results from its Whistlejacket Lithium Project. The results represent the third and final phase of Bradda Head's 2026 rock-chip sampling programme and further strengthen several priority targets as the company transitions into the Phase 3 drilling programme currently being conducted on the project and first programme under Bradda Head. Combined with [partner Kennecott Exploration Company's] historical exploration data, the results provide additional geological and geochemical support for testing the continuity, geometry and potential scale of the spodumene-bearing pegmatite system at depth," Bradda says. Says the latest batch of surface samples returns high-grade lithium assays of up to 3.90% lithium oxide. Of the 41 rock samples analysed, 19 return grades above 0.50% lithium oxide, including 15 samples above 1.00% lithium oxide and 13 samples above 1.50% lithium oxide. Chair Ian Stalker says: "This final batch of surface results provides further encouragement as we begin Bradda's first drilling programme at Whistlejacket, following two previous phases of drilling completed by KEX. The combination of high-grade lithium assays, low iron content and strong LCT geochemical signatures continues to reinforce our confidence in the quality and prospectivity of the pegmatite system. With this phase of the 2026 surface programme concluded, our focus is firmly on drilling and advancing Whistlejacket through its next stage of exploration. The programme will test the continuity, geometry and scale of these spodumene-bearing pegmatites at depth, including several targets that have not previously been drill tested. We look forward to updating shareholders as drilling progresses."
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Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development and production company - Updates on the binding farm-out agreement signed by associate company Antler Global Ltd and Fuhai (Beijing) Energy Ltd, a wholly owned subsidiary company of Fuhai Group New Energy Holding Co Ltd to farm-out a 40% interest in the EG-08 production sharing contract in offshore Equatorial Guinea. Extends the longstop date for completion of the transaction to September 30. Europa has a 42.9% equity interest in Antler which, on completion of the FOA, will hold a 40% working interest in the EG-08 PSC, and remain as operator, with 40% held by Fuhai and the remaining 20% held by GEPetrol, the national oil company of Equatorial Guinea. "Despite the delay in ODI approval the company still expects to drill the Barracuda-1 well at the earliest opportunity, which is expected to be during early 2027," company says.
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Litigation Capital Management Ltd - Sydney-based asset manager and provider of dispute financing - Says the debt covenant waiver from Northleaf Capital Partners that was due to expire on August 31 has been extended to September 30. "During the extended waiver period the interest on the loan remains increased by 2.00% per annum consistent with the initial waiver. There is no additional one-time waiver fee in relation to this extension," LCM says. Additionally, says the strategic review announced in September 2025 continues to progress."...the waiver extension is reflective of Northleaf's ongoing support while LCM works towards a long-term resolution of its capital position," company adds.
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Alien Metals Ltd - London-based mining firm focused on Australia - West Coast Silver Ltd, its joint venture partner at the Elizabeth Hill Silver Project, announces an AUD6 million, £3.2 million, placement to institutional, sophisticated and professional investors to accelerate exploration at the project. The placement is priced at AUD0.095 per share, representing a discount of 13.8% to the 15-day volume-weighted average price prior to the date of the West Coast Silver trading halt. Funds will be used for exploration and development drilling, geotechnical and metallurgical testwork, mineral resource estimate updating and a scoping study.
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Engage XR Holdings PLC - Waterford, Ireland-based virtual reality technology company - Says its largest customer, which had renewed its commercial arrangements with Engage in May, has told the company it does not plan to take any licences going forward. "The consequence of this is that the funds that were expected to be remitted to the company pursuant to the contract will now not be received," company says. Announces determination to proceed with a court approved liquidation in accordance with Irish Law. Does not expect this process to provide returns to shareholders. Requests suspension in the trading of its shares, effective today.
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Transense Technologies PLC - Bicester, England-based sensor technology developer - Announces the successful application of its SAWsense torque sensing technology in a hybrid-electric flight demonstration developed in collaboration with Unison, a General Electric Co company. "The technology was incorporated into the propulsion system used in the first hybrid-electric flight above 30,000 feet and the first hybrid-electric transatlantic crossing, with the achievement showcased at the prestigious Farnborough International Airshow. The demonstration represents a further milestone in the long-standing collaboration between Transense and Unison and highlights the potential application of SAWsense technology within next-generation aerospace propulsion systems," company says.
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