If party season in the Square Mile looks set to be a washout again this year, at least its inhabitants (the bankers, lawyers and accountants) have plenty of work to occupy them in the coming few weeks with a slew of late IPOs ready to go live.
Normally, December is a quiet period for new listings. Not so this time around. In all, we are expecting 11 flotations between now and the end of 2021, according to the London Stock Exchange’s pages tracking new issue activity.
Primary Health Properties PLC (LSE:PHP) announced that it has acquired the Parkside Medical Centre in Boston, Lincolnshire for a total consideration of £6.8mln.
The deal will increase the portfolio of the primary healthcare facilities investor to a total of 520 assets, 20 of which are in Ireland, with a contracted rent roll of over £139mln.
Kodal Minerals PLC (AIM:KOD) said it was reviewing a 2020 feasibility study on its flagship Bougouni lithium project in Mali, where it was recently granted a mining licence, ahead of a final investment decision next year.
“We have been undertaking a review of our existing feasibility study to upgrade costs and estimates to reflect current expectations and best practices,” said chief executive Bernard Aylward.
Arecor Therapeutics PLC (AIM:AREC) has agreed an exclusive study collaboration with an unnamed partner in the “clinical and applied markets”.
It will use its formulation platform Arestat to develop an “improved, stable, liquid formulation” for use within the partner’s technology, the company said.
OKYO Pharma Ltd has received a US patent covering the use of its lead asset in dry eye disease (DED).
Entitled ‘Methods of Lowering Blink Reflex for the Treatment of Dry Eye Disease’, the patent protects the intellectual property behind OK-101.
Bradda Head Lithium Ltd (AIM:BHL) said exploration drilling started at its Wikieup project in Arizona last Friday following the receipt of drilling permits.
The drilling programme is for 28 holes (3,000 metres), around three times the size of the recent Burro Creek East drill programme, and covers portions of the Wikieup project claims.
Sovereign Metals Limited (ASX:SVM) shares will be admitted to the AIM market of the London Stock Exchange (AIM) at 8am (GMT) today while retaining its ASX listing.
The dual listing is expected to further raise the company’s profile in the northern hemisphere and facilitate the participation of UK and other European investors in Sovereign’s growth.
ADM Energy PLC (AIM:ADME, ETR:P4JC) said it has received a letter from unnamed shareholders owning more than 5% of the business requisitioning a general meeting (GM) at which they are proposing the removal of four directors, including the CEO. It added: “The company will within 21 days of receipt of the requisition post a circular to shareholders to convene the GM.”
The board of Pelatro PLC (AIM:PTRO) announced that Nic Hellyer has now been appointed chief financial officer on a full-time basis with immediate effect, as notified last month. Hellyer has served on the board of Pelatro for the past four years as part-time CFO.
Chill Brands Group PLC (LSE:CHLL, OTCQX:CHBRF), the international consumer packaged goods company, announced that its shares are now trading on the US OTCQB Venture Market under the updated ticker symbol CHBRF. The company and its board of directors are confident that this will support efforts to expand investor relations in the US while Chill continues to execute its retail sales strategy.