TRADING UPDATES: NFT Investments hit by cyber attack

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(Alliance News) – The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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Merit Group PLC – London-based data technology company – Completes disposal of the trade and assets of Le Trombinoscope, a French language directory service publication focused on the French political landscape. Says the consideration on the sale is GBP100,000 and expects it not to have a material impact on the company’s financial performance. In the financial year to March 2022, Le Trombinoscope reported revenue of GBP300,000. “The disposal shows further progress in our simplification of the group, allowing us to focus on our core business intelligence assets,” says Chief Executive David Beck.

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NFT Investments PLC – Invests in non-fungible tokens – Notes that it is currently managing a cyber security incident after discovering a fraudulent phishing attack from an unknown external source on Monday. Says the attack has resulted in USD250,000 loss of the company’s assets, which represents less than 1% of NFT’s current net asset value. Adds that it has seen no evidence that the company’s financial performance has been impaired. “On becoming aware of the attack, NFT immediately implemented its incident response plan and will commission a third party report to investigate the circumstances of the incident. Separately, the company is examining additional technical precautions in its systems and controls in order to prevent a similar event from occurring in the future,” it says.

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Resolute Mining Ltd – Perth-based gold miner in Africa – Receives “globally recognised” International Organization for Standardisation certification for the following standards: Occupational Health & Safety and Environmental Management Systems. The ISO certifications were awarded by Bureau Veritas, an independent third-party assurance consultant. Chief Executive Terry Holohan says: “I am very pleased that this element, being one of our major platforms supporting our group’s strategy to become ‘industry leaders in ESG’, as we formally pledged to all stakeholders in our 2020 annual reports, has been formally certified by the distinguished Bureau Veritas – this industry-wide recognition is a significant demonstration of our commitment to our ongoing journey of continuous improvement.”

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Lords Group Trading PLC – London-based distributor of building, plumbing, heating and DIY goods – Enters binding agreements to buy the freehold property, from which the Heathrow branch of the company’s wholly owned subsidiary George Lines Civils & Landscaping Merchants operates, from the original vendor of George Lines. The property, which is situated close to London Heathrow airport, covers an area of 1.5 acres including 5,570 square feet of covered storage. The branch has been operating out of the site for more than 40 years. Says maximum consideration for the property is GBP6.3 million to be paid in cash, while GBP2.2 million has already been paid.

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Parkmead Group PLC – Netherlands and UK-focused gas explorer – Completes drilling activities at the LDS-01 well in the Netherlands which has encountered gas columns in the primary target horizons. The well has been completed and is now ready for tie-in to production, which will follow the conclusion of the LDS-02 well. Executive Chair Tom Cross: “We are delighted to announce a gas discovery from the first well of the two-well LDS drilling campaign. The immediate proximity to production infrastructure allows for an extremely short tie-in period, and we expect first gas to be onstream within the first quarter of this year. This will provide Parkmead with immediate net production and cashflow.”

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Tern PLC – Investor focused on the internet of things – Says Wyld Networks AB has received an approximately SEK12.6 million, around GBP1 million, purchase order for its satellite IoT Wyld Connect module. Says the order was placed by a company based in the Middle East and the delivery will begin in April, spanning a four-year period. Tern holds a 41% stake in Wyld Networks.

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Forward Partners Group PLC – London-based investment firm – Makes GBP1.0 million investment into Dines. Dines is a hospitality management platform. Says the company will use the funds to continue its expansion across the UK. “The hotels, restaurants, theatres, pubs and festivals that power this industry not only deliver experiences that enrich people’s lives, but they also contribute massively to UK economy. Despite this, they are under severe margin pressure and highly sensitive to changes in consumer spending. To succeed, they need to optimise every aspect of their business – from marketing to booking, ordering to payroll – but solutions are few and far between,” says Forward Partners Chief Executive Nic Brisbourne.

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IMC Exploration Group PLC – Dublin-based exploration company – Agrees with Mineral Ventures Invest Spol SRO to extend the final date to satisfy the conditions to acquire Karaberd Mine in Armenia. The date is now October 14, 2023. This is the third extension and is due to local Covid-19-related factors which delayed “certain structuring and organisational measures” relating to the assets subject to the acquisition.

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By Sophie Rose, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.



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