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Proactive news headlines: Bahamas Petroleum, Tiziana Life Sciences, Anglo Pacific, Genel Energy ...

A glance at some of the day's highlights from the Proactive Investors newswire

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Bahamas Petroleum Company PLC (LON:BPC) has told investors that Stena Drilling’s Stena IceMAX vessel will be used to drill the Perseverance-1 exploration well. The company revealed that Stena has formally notified the group that it has nominated IceMAX for the well, which is consistent with the existing rig contract. Stena also indicated that the start of the contracted window - stated as December 15, 2020, – will be the approximate time for the arrival of the drill ship in the field. Bahamas Petroleum pointed out that IceMAX is one of the most advanced drillships in the world. That means a well spud date is likely to follow about 3 or 4 days later, Bahamas Petroleum noted, and the company specifically said that it expects the well will spud before Christmas.

Tiziana Life Sciences PLC (NASDAQ:TLSA) (LON:TILS), a biotechnology company focused on innovative therapeutics for oncology, inflammation and infectious diseases, has said an interview with its CEO, Dr Kunwar Shailubhai will air on The RedChip Money Report television program on Sunday, September 27, 2020, at 6.00pm. EST on Bloomberg International, available in 100+ million homes across Europe. In the exclusive interview, Dr Shailubhai discusses the company's planned spinout of StemPrintER into a new company, Accustem Sciences, as well as its plan to initiate a clinical study with nasally administered Foralumab, a fully human anti-CD3 monoclonal antibody, in patients with coronavirus (COVID-19) in Brazil. The interview will also air in the US on the Action Channel on Sunday, September 27, 2020, at 11.00am ET and is available via live stream on American Business TV.

Anglo Pacific Group PLC (LON:APF, TSX:APY) told investors it has kicked off a £5mln share buy-back programme. The natural resources royalty and streaming company said it sees the current share price as offering significant value, given the implied discount to underlying net asset value and other valuation metrics. The group said it has decided to implement a buy-back as a means to return value to shareholders in an accretive manner, and in a manner that does not jeopardise our ability to finance future royalty additions.

Genel Energy PLC (LON:GENL) has confirmed a flush of liquidity, receiving US$10.8mln from oil sales and completing a US$300mln bond issue. Pareto Securities was bookrunner and manager for the bond issue which sees Genel issuing senior unsecured bonds, carrying a 9.25% coupon and maturity set for October 2025. Genel also confirmed it will use US$223mln to repurpose existing unsecured bonds, due December 2022. A separate statement by Genel confirmed receipt of payment from the Kurdistan Regional Government for oil sales conducted this August. Some US$4.7mln was paid to the Taq Taq field partners, giving Genel a net share of US$2.6mln. Tawke field partners received US$33.8mln which means that Genel received US$8.2mln.

Sativa Group PLC (LON:SATI) said it has become a member of the Association for the Cannabinoid Industry (ACI) novel food consortium and its landmark toxicology study as part of what it said is its “ongoing commitment to continually deliver the highest level of regulatory compliance and substantiate 'CBD you can trust'". The cannabidiol (CBD) products group said the toxicology study will provide safety data required for novel food dossiers validated by the UK’s Food Standards Agency (FSA) to remain on the market after March 31, 2021. Sativa said its team of scientists and quality & compliance professionals in the UK and Poland have worked with the ACI to ensure its products meet quality management criteria.

Remote Monitored Systems PLC (LON:RMS) said it expects substantial revenues to be generated by new acquisition Pharm 2 Farm from the sale of anti-viral face masks. The acquisition is still conditional on shareholder approval but  Trevor Brown, chief executive, said: ”Since we announced the proposed acquisition, the market for Pharm 2 Farm products, in particular for face masks, has continued to grow exponentially. P2F is setting up a production line that will be able to produce up to 5mln standard or anti-viral face masks per month. 

Circle Property PLC (LON:CRC) has notched up the fourth successive year of growth in its net asset value (NAV). The regional offices specialist revealed that its NAV per share rose by 3% to 285p at the end of March 2020 from 277p a year earlier, in its full-year results statement. Rental income in the year rose to £7.50mln from £6.88mln the year before. Circle saw a 14.16% increase in contracted annual rental income to £8.71mln at the end of March from £7.61mln a year earlier.

San Leon Energy PLC's (LON:SLE) interim results illustrate a company with a strong financial position and outlook. In 2020 to date, the company with investments in Nigerian oil assets received US$41.5mln in payments from operators, via loan note arrangements. Some US$88.7mln of future loan note payments remain. With US$35.6mln in cash at the end of the half-year - US$22.6mln by September 18, 2020, after US$6.8mln was put in escrow – the company said it is positioned to invest and grow further. In early September, new deals were announced which will see San Leon secure an interest in the Oza field, onshore Nigeria.

Red Rock Resources PLC (LON:RRR) said its Australian gold mining joint venture, Red Rock Australasia has appointed David Holden as exploration manager. Holden was involved in the initial discoveries at Nimary/Jundee, Brocks Creek, Mt Todd (Australia), Ngaka Coal Field (Tanzania), and Big Sandy lithium (USA), said Red Rock. Red Rock Australasia, a 50.1%-owned Australian joint venture with Power Metal Resources (49.9%) has applied for twelve exploration licences in the Central Victoria Gold Fields.

genedrive PLC (LON:GDR) said its coronavirus testing kit has been verified to work with the RNA extraction technology of its collaboration partner. Initial testing took place using Beckman Coulter Life Sciences' chemistry on respiratory swabs in conjunction with gendrive’s 96 SARS-CoV-2 equipment. This indicated the Beckman product was suitable for use in the genedrive testing workflow.

Powerhouse Energy Group PLC (LON:PHE), the waste-plastic-to-energy firm, has said Cameron Davies is to hand over the chairman duties for the group to his deputy, Tim Yeo. Davies will remain on the board of Powerhouse as a non-executive director. “We are all pleased that we will still have the benefit of his wise counsel as he will continue as a non-executive director,”  Yeo said in a statement.

[email protected] Capital PLC (LON:SYME) said it has been informed by its chief executive Alessandro Zamboni, for clarification purposes, that the purchase of a call option for consideration by Orchestra Group, announced on September 24, is an arms-length arrangement with a regulated institutional entity which is not a related party of Orchestra Group. The inventory monetisation group also said that following an update to its inventory funding and institutional investor relationships on September 10, 2020, and pursuant to the confidentiality agreements signed with its partners and client companies, that it “looks forward to updating shareholders further on its business operations and their related financial impacts in the coming days”.

World High Life PLC (LON:LIFE) has updated on the status of the deferred consideration for Love Hemp Ltd, which it agreed to acquire in October 2019. Under the initial terms of the acquisition, the company was required to pay £1.5mln in cash on the date falling six months and one day from the date of completion, provided that at the firm’s election it could alternatively pay to the sellers an amount equal to £2mln to be satisfied by the issue of ordinary shares of World High Life, while a further £1.5mln cash payment was due twelve months and one day from the date of completion. However, the company said on Friday that it has entered into a deed of variation to alter the initial terms so that the sellers will instead be paid with 22.2mln shares on September 25, 2020, in their relevant proportions at a price of 9p each. The group will also pay £1.5mln in cash to the sellers on January 15, 2021.

Alien Metals Ltd (LON:UFO), a minerals exploration and development company, noted that shareholders of Karratha Metals Group Limited (KMG) unanimously approved the sale of the Elizabeth Hill Silver project to Alien Metals at an Extraordinary General Meeting held on Friday. Accordingly, as per the acquisition agreement, the company said it will be issuing 200,000,000 new common shares and 50,000,000 warrants on the terms outlined in the announcement of 4 December 2019 as consideration for the acquisition. The firm said it and KMG will now work to have the Elizabeth Hill Licence transferred to Alien; this is expected to take approximately four weeks and the company will make a further announcement once this is complete. Commenting on the results of the KMG shareholder meeting, Alien Metals CEO Bill Brodie Good said: “This was the last remaining condition precedent to the acquisition of Elizabeth Hill. We look forward to completion taking place shortly, and I welcome all incoming KMG shareholders to the Company. We are ready to commence fieldwork at Elizabeth Hill and execute on our exploration strategy to advance the project”. In a separate statement on Friday, Alien Metals also noted that, following the receipt of exercise notices, it has issued 17,500,000 ordinary shares of no par value in the capital of the company at an issue price of 0.15p per share and 4,800,000 new ordinary shares of no par value in the capital of the company at an issue price of 0.25p per share.

Greatland Gold PLC (LON:GGP), the AIM-listed precious and base metals exploration and development company, said it has received binding option exercise notices from employees of the company, who are not directors or PDMRs, for 8,500,000 options for a total consideration of £137,500, including 2,500,000 options at 0.7p per share for consideration of £17,500, and 6,000,000 options at 2.0p per share for consideration of £120,000.

Integumen PLC (LON:SKIN) - soon to be renamed DeepVerge PLC – has said that further to its announcement of a recommended all- equity offer for Modern Water PLC (LON:MWG) it has sought and obtained approval from the Panel on Takeovers and Mergers to extend the deadline for publication of the offer document which the group currently expects will be published by Friday, October 9, 2020. In a separate statement, Integumen announced that it has received notification from multiple warrant holders to exercise warrants over 348,808 shares, consisting of 82,142 warrants with an exercise price of 20p and 266,666 warrants with an exercise price of 15p. The consideration for the warrants exercised amounts, in aggregate, to a cash value of  £56,428.30.

Solo Oil PLC (LON:SOLO), the AIM-listed investing company targeting attractive production and development opportunities within the European energy market, announced that at its annual general meeting held on Friday all resolutions were duly passed.

Catenae Innovation PLC (AIM: CTEA), the AIM-quoted provider of digital media and technology, announced that at its annual general meeting held on Friday all resolutions were duly passed. Details of the votes received will be available on the company's website at: https://www.catenaeinnovation.com/financial-reports

OKYO Pharma Ltd. (LON:OKYO), the life sciences and biotechnology company, focused on the discovery and development of novel molecules to treat inflammatory dry eye diseases and chronic pain, announced that at its annual general meeting held on Friday the proposed resolutions set out in the notice of Annual General Meeting dated September 9, 2020, were duly passed. The results of the proxy voting will be available on the company's website: https://www.okyopharma.com/news/

Collagen Solutions PLC (LON:COS), the developer and manufacturer of biomaterials and regenerative medicines for the enhancement and extension of human life, has announced that its annual general meeting will be held at the company's offices at 3 Robroyston Oval, Nova Business Park, Glasgow G33 1AP at 11.00am UK time on October 23, 2020, however, as a result of the current coronavirus (COVID-19) pandemic and the legislative measures and associated guidance introduced by the UK and Scottish Governments in response, for the safety of its shareholders, employees, advisers and the general public, the AGM will be held as a closed meeting. In the light of these measures, the directors of the company strongly encourage shareholders to vote by proxy on all of the matters of business by appointing the chairman of the meeting as their proxy by submitting a proxy appointment in accordance with the instructions in the circular and the proxy form.

Walls & Futures REIT PLC (LON:WAFR), the Ethical Housing Investor and Developer has announced that its 2020 annual general meeting will be held on Tuesday, October 21, 2020, at 1pm. Due to the ongoing coronavirus (COVID-19) pandemic and in the interest of health and safety, there will be no physical AGM this year. Instead, the meeting will take place hosted by the Zoom meetings platform.  Details of how to join the AGM have been included in a covering letter to all shareholders which accompanied the Notice of AGM. Voting on all resolutions at the AGM will by way of a poll.

Base Resources Limited (LON:BSE) (ASX:BSE) has said its 2020 Annual General Meeting will be held at 1.00pm Perth time on Friday, November 20, 2020, as a hybrid meeting at Kimberley Room, Katitjin Centre, Australian Institute of Management WA, 76 Birkdale Street, Floreat, Western Australia; and online via the Lumi software platform accessible at https://web.lumiagm.com

Quick facts: Bahamas Petroleum Company PLC

Price: 2.36 GBX

LSE:BPC
Market: LSE
Market Cap: £91.92 m
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Bahamas Petroleum targeting annual revenues of at least $15mln by end of 2021

Bahamas Petroleum Company PLC's (LON:BPC) Simon Potter and Eytan Uliel caught up with Proactive London's Andrew Scott following its recent merger with Columbus Energy. Last week the company issued a new corporate presentation to communicate its new strategy. Potter says they're making rapid...

on 17/8/20

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