×

RNS Number : 0057S

Deepverge PLC

11 November 2021

 

11 November 2021

DeepVerge PLC

 

("DeepVerge" or "the Company")

 

U.S. launch of Skin Trust Club at Beauty Connect in Los Angeles

 

B2C and B2B offerings unveiled

 

 

 

DeepVerge (LSE:DVRG.L), announces that the Skin Trust Club is live in the U.S. following its launch to industry at Beauty Connect, Los Angeles on 4-5 November 2021. The U.S. launch is part of a five-event roadshow to industry that is unveiling what Skin Trust Club is all about and illustrating its power as a new game changing service in the skin health business.

 

At industry events in London (Pure Beauty) on 28 October 2021, Los Angeles (Beauty Connect) 4-5 November 2021, Boston (Microbiome Connect) 17-18 November 2021,  Amsterdam (Microbiome Connect) 7-8 December 2021 and San Francisco (Personalised Beauty Summit) 30-31 March 2021, scientists from DeepVerge are briefing industry on the facets of the Skin Trust Club service:

 

· A science based personalised skincare service for consumers;

· A clinical trial for industry where microbiome samples are collected before, during and after trials to see granular effects;

· A personalised shopping experience where Skin Trust Club customers only see products relevant to their skin with science and AI based recommendations for skin health routines; and

· A databank of thousands of skin sample data with AI models constantly learning about different types of skin and the effects of lifestyle, medications, environment and skin products and ingredients on that skin.

 

With Skin Trust Club laboratories in York, UK, and Delaware, US, and a new laboratory in Cork, Ireland, coming online to serve the EU market, Skin Trust Club is available in two major markets – UK and US – and will also be available in selected EU countries by the end of this year.

 

Gerard Brandon, CEO of DeepVerge, commented:

"With the service now available across all platforms and an in-house back office system that has been tested at scale, we are now showing the power of the service as a B2C offering but also as a game changing B2B offering. The industry is realising that with Skin Trust Club, the Holy Grail of personalised beauty and skincare is here. Our partner programme is seeing leading brands sign up to sell the service as part of their product/service offerings, to use the service as part of their clinical trials and finally to see the impact the largest skin microbiome database in the world can have on moving skin science and their research forward.

 

"With Skin Trust Club, we've had moments where servers were overloaded with demand and where partners are imploring us to move into their core markets quicker than we initially planned. Thankfully by making the strategic decision to build everything in-house – sequencing, software, AI – thereby controlling the normalisation of the service, we have the flexibility to move fast to scale. With exciting events this year and a roadmap that includes replicating the service for scalp, hands, legs and feet, both industry and consumers know that the future of skincare is based on deep science.

 

"As a business, we are also seeing the full impact of the synergies within our business where our Labskin and Data/AI companies are working hand-in-hand to create a new service that the Board believes will have a profound effect on the skin health industry worldwide."

 

 

 

For further information please contact:

 

DeepVerge plc	Gerard Brandon, CEO	+44 (0) 7340 055 648
SPARK Advisory Partners Limited (Nominated Adviser)	Neil Baldwin/Andrew Emmott	+44 (0) 113 370 8974
Turner Pope Investments (TPI) Limited (Broker)	Andy Thacker/James Pope	+44 (0) 20 3657 0050

 

About DeepVerge plc (www.deepverge.com)

DeepVerge is an environmental and life science group of companies that develops and applies AI and IoT technology to analytical instruments for the analysis and identification of bacteria, virus and toxins. Utilising artificial intelligent data analytics to scientifically prove the impact of skincare product claims on skin microbiome for most of the top 20 global cosmetic company clients and remotely detect and identify in real-time, dangerous pathogens in wastewater treatment plants, drinking water, rivers, lakes and reservoirs.

 

Labskin (Life Science Division)

Labskin have been pioneering the development of a laboratory grown human skin platform for more than 13 years and is the only commercially available lab-grown full thickness human skin model that naturally mimic the skin's microbiome. With top 20 global consumer health and skincare clients, thousands of industry tests, the good and bad bacteria that naturally exists on human skin is present on Labskin when testing skin care, cosmetics, health care, drug delivery or wound care products. The Labskin test platform and protocols help clients maintain an optimum real-world environment, when testing their new ingredients and existing skincare products, that shows the positive or negative impact on skin's natural microflora.

 

About Reach announcements

Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only / non-regulatory news releases such as marketing messages, corporate and product information into the public domain. An RNS Regulatory announcement is required to be notified under the AIM Rules for Companies.

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

NRADKKBBOBDDKDD

Close

×

RNS Number : 5682R

Light Science Tech. Holdings PLC

08 November 2021

 

 

Light Science Technologies Holdings plc

("LSTH" or the "Company")

 

Zenith and Rentokil Contracts Update

 

Light Science Technologies Holdings plc (AIM: LST), the controlled environment agriculture ("CEA") technology and contract electronics manufacturing ("CEM") group, announces the start of its contract with Zenith Nurseries Ltd ("Zenith Nurseries") with a total potential value of up to £13.84 million*.

 

· Commencement of contract potentially worth up to £13.84 million*

· New cloche product to extend routes to market

· New orders from existing client in CEM division underpinning strong forward order book

 

As disclosed in the Company's Admission Document, the project involves a consortium (Light Science Technologies Ltd, Zenith Nurseries and Morrish Engineering Limited) developing a cloche lighting and sensor technology system.

 

This innovative product seeks to bring lighting and sensor technology to the controlled environment technology market for growers in polytunnel and glasshouse environments. Furthermore, the solution is intended to extend the use of the Company's nurturGROW Sensor to new market applications, such as agriculture fields. The cloche lighting and sensor technology system is expected to be the first retrofittable, all-in-one lighting-sensing-automation rig providing year-round harvests for the grower across multiple plant varieties.

 

With an initial potential UK market of 4,000 industrial growers, producing over 300 types of field-scale and protected vegetable and salad crops, and tree and berry fruits, the solution will aim to improve productivity by increasing yields. It will look to help growers by providing a possible solution to labour shortages and reduce the need for import substitution by extending the harvest window.

 

* subject, inter alia, to certain milestones and conditions as more fully described in the Company's announcement on 15 October 2021 .

 

Contract Electronics Manufacturing Update

 

UK Circuits and Electronics Ltd has received new orders from Rentokil Initial plc totalling c. £580,900 which are expected to be delivered through the first half of FY 2022, underlying our confidence in the prospects for this division.

 

The forward order book for UK Circuits and Electronics Ltd currently stands at approximately £5 million.

 

 

Simon Deacon, CEO of Light Science Technologies Holdings plc, commented: " The development of the LED grow lighting cloche/rig solution is an exciting progression in our product portfolio. We are delighted to be working with growers in the development of tailored supplementary hybrid lighting (LED and natural light) system providing targeted, actionable data insights of the nine cardinals of plant life and soil health, based upon the data collected.

 

"We already have good levels of visibility across both our divisions which provides a solid platform for growth. Importantly, we have a growing number of routes to increased commercialisation and believe that we are well placed to scale up rapidly."

 

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon publication of this announcement, this information is now considered to be in the public domain.

 

For further information, please contact:

 

Light Science Technologies Holdings plc	www.lightsciencetechnologiesholdings.com
Simon Deacon, Chief Executive Officer Jim Snooks, Chief Financial Officer Andrew Hempsall, Chief Operating Officer	via Walbrook PR
Strand Hanson Limited (Nominated & Financial Adviser)	Tel: +44 (0) 20 7409 3494
James Harris / Ritchie Balmer / Rob Patrick
Turner Pope Investments (TPI) Ltd (Broker)	Tel: +44 (0) 20 3657 0050
James Pope / Andy Thacker
Walbrook PR Ltd (Media & Investor Relations)	Tel: +44 (0)20 7933 8780 or  [email protected]
Nick Rome / Paul McManus / Nicholas Johnson

 

About Light Science Technologies Holdings plc ( www.lightsciencetechnologiesholdings.com )

 

Light Science Technologies Holdings plc was incorporated in England and Wales on 13 January 2020 and is the holding company of the Group's contract electronics manufacturing ("CEM") division, UK Circuits and Electronics Solutions Limited, and its controlled environment agriculture ("CEA") division, Light Science Technologies Ltd.

 

UK Circuits was founded in 1997 and is a contract electronics manufacturer with strong revenue and cash generation. The Group's manufacturing facilities in Manchester, United Kingdom enable the Group to design, manufacture and test high-quality CEM products used in a broad range of sectors.

 

Light Science Technologies was founded in September 2019 and facilitates the Company's CEA operations. The Group's state-of-the-art laboratory facilities in Derby, United Kingdom, enable the Group to design, test and provide innovative CEA products and services.

 

The CEM focussed division of the Group, UK Circuits, designs, procures and manufactures high-quality CEM products, specialising in PCBs, for over 70 recurring customers, which are used in a range of sectors, including, audio, automotive, electronics, gas detection, lighting, and pest control. The UK Circuits design team works alongside customers with new and existing product designs to provide design and engineering support, including simulation, 3D modelling, and prototyping. UK Circuits' procurement offerings range from assembly of free issue components to full turnkey solutions, leveraging the experience of its dedicated supply chain team and relationships with reputable suppliers.

 

In addition to the Group's CEM capability, the Group's CEA division, offers integrated, cost-saving and sustainable CEA solutions to crop growers, with a focus on the indoor, vertical and medicinal farming markets, which is expected to be the major growth area for the Group going forwards in light of the market landscape and in view of competing offerings currently in the marketplace. Light Science Technologies' all-in-one CEA solution includes analysing customers' crop growing requirements to provide bespoke, low-energy products, which subsequently monitor the environment in order to maintain optimal growing conditions through the nine cardinals of plant life (namely air speed, carbon dioxide levels, humidity, light, oxygen, plant disease, soil, temperature and water pH levels) to maximise crop yields and minimise resource usage.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

UPDBQLFBFFLLFBE

Close

×

Neville Registrars is delighted to welcome Silverwood Brands PLC as the newest addition to its list of client companies.

Silverwood Brands is an investment vehicle focused on identifying investment opportunities of premium consumer brands in the food, organic food, wellness, lifestyle and leisure sectors.

Further information can be found on the Company's website: https://www.silverwoodbrands.com/

Close

×

Neville Registrars is delighted to welcome Kasei Holdings plc as the newest addition to its list of client companies.

Kasei Holdings is an investment company specialising in the digital asset ecosystem, enabling investment in all aspects of this market in the form of a simple listed security. 

Further information can be found on the Company's website: https://kaseiholdings.com/

Close

×

RNS Number : 9453Q

NetScientific PLC

01 November 2021

 

NetScientific plc

("NetScientific", the "Group" or the "Company")

 

PDS to License Novel Proteins for Flu Vaccine

 

PDS Biotech Announces Agreement with University of Georgia to License Novel Proteins for Versamune-based Universal Flu Vaccine

 

 

London, UK – 01 November 2021 – NetScientific plc (AIM: NSCI), the international life sciences and sustainability technology investment and commercialisation Group,  announces that its portfolio company, PDS Biotechnology Corporation (Nasdaq: PDSB), has announced an agreement to license COBRA (Computationally Optimized Broadly Reactive Antigen) antigens from the University of Georgia initially for use in the clinical development of its infectious disease immunotherapy pipeline, PDS0202, a universal flu vaccine candidate.

 

Designed by renowned influenza expert, Dr. Ted Ross at the University of Georgia, the novel COBRA antigens are to be used in combination with Versamune® for PDS0202 for the universal prevention of infection by multiple strains of influenza virus. The antigens were selected following successful pre-clinical development work completed under a contract from the National Institute of Allergy and Infectious Diseases (NIAID), Collaborative Influenza Vaccine Innovation Centers (CIVICs) program to progress PDS0202 development. PDS0202 leverages Versamune®'s ability to induce the immune system to generate high levels of flu-specific neutralizing antibodies, CD4 helper and CD8 killer T-cells, as well as long-acting memory T-cells to potentially provide broad and long-term protection against multiple influenza strains. Influenza is estimated to result in about 3 to 5 million cases of severe illness and about 290,000 to 650,000 respiratory deaths globally each year.

 

PDS Biotech CEO, Frank Bedu-Addo commented: "Our new agreement with the University of Georgia demonstrates the versatility and potential of our Versamune® platform and advances our infectious disease pipeline.

 

"There are four types of seasonal influenza viruses, and a universal flu vaccine would eliminate the need to manufacture a new seasonal flu vaccine each year by providing robust, long-lasting protection against multiple subtypes of flu. We believe this is the next step in the advancement of novel infectious disease vaccines to address the nearly one billion cases of influenza worldwide annually."

 

Ilian Iliev, CEO of NetScientific, commented: "This latest development further demonstrates the PDS team's ability to execute a sophisticated programme of clinical applications of the Versamune® platform, not only in cancer-immunotherapy, but also in infectious disease vaccines – a rapidly growing area of market significance"

NetScientific's interest in PDS amounts to c. 4.72 per cent.

 

The full text of the announcement from PDS Biotechnology is available online here: https://www.pdsbiotech.com/investors/news-center/press-releases/press-releases1/113-2021-news/573-iotechnnouncesgreementwithniversityofeorgia20211101

 

For more information, please contact:

NetScientific	Via Walbrook PR
Ilian Iliev, CEO
WH Ireland (NOMAD, Financial Adviser and Broker)
Chris Fielding / Darshan Patel	+44 (0)20 7220 1666
Walbrook PR
Nick Rome/ Paul McManus/ Nicholas Johnson	07748 325 236, 07980 541 893 or 07884 664 686

 

About NetScientific

NetScientific plc (AIM: NSCI) is a holding company, that invests in, develops, commercialises and realises shareholder value in life sciences/healthcare, sustainability and technology companies, which offer significant growth potential predominately in the UK and USA, as well as globally. 

 

With the acquisition of EMV Capital in August 2020, the Group doubled its portfolio from 8 to 17 companies, either through direct subsidiary, balance sheet investment or capital under advisory, varying from start-up private companies to publicly listed equities. 

 

NetScientific delivers shareholder returns through a proactive and hands-on management approach to their portfolio companies; identifying, investing in, and helping to build game-changing companies. The Group targets value inflection points and the release of value through partial or full exits from trade sales, public listings, or equity sales. The Company has a strong transatlantic and growing international presence, providing attractive expansion prospects. 

 

NSCI can deploy a capital-light investment structure; utilising the power of the PLC Brand, and the NetScientific balance sheet to anchor future investments and achieve a multiplier effect by attracting 3rd party investment for the portfolio companies. 

 

NetScientific is headquartered in London, United Kingdom, and was admitted to trading on AIM, a market operated by the London Stock Exchange, in 2013 (website:  netscientific.net ).

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

NRADKDBKQBDDNDK

Close

×

RNS Number : 0193Q

Biome Technologies PLC

25 October 2021

 

 

25 October 2021

 

Biome Technologies plc

("Biome", the "Group" or the "Company")

Update re biodegradable tree shelters

 

Biome's Bioplastics division ( www.biomebioplastics.com ) announces the commencement of large-scale UK-wide field testing and initial commercial sales by Suregreen of biodegradable tree shelters using the Biome's proprietary bioplastics materials. Extended field testing of approximately 40,000 shelters at more than 40 sites is being carried out in close collaboration with Suregreen, a leading UK-based manufacturer of tree shelters.

The biodegradable tree shelters are designed to provide the benefits of traditional shelters for five years but to biodegrade naturally and harmlessly over the subsequent two years, offering an environmentally sustainable solution that improves forestry yields. The natural decay of the shelters has been demonstrated through extensive accelerated weathering, biodegradation in the laboratory and initial field testing.

Having developed these tree shelters in association with Suregreen (supported by a development contract from Innovate UK as part of the Sustainable Innovation Fund (SBRI Phase 2)), Biome and Suregreen will now monitor the product's performance to confirm high sapling survival rates in forestry conditions over the next few years. Customers can now also purchase the shelters made out of Biome's biodegradable materials from Suregreen under the "Vigilis Bio" brand ( http://www.sure-green.com/vigilis-bio.html ).

These trials come at a time when the UK prepares to host the 2021 United Nations Climate Change Conference, in Glasgow, also known as COP26. Biome is signed-up to the United Nations' Race to Zero campaign, and this product demonstrates its support for the UK achieving net-zero carbon emissions by 2050.

Paul Mines, Biome Technologies' Chief Executive Officer, commented:

"Extensive field testing is the next step to commercialisation of the novel biodegradable tree shelter at scale. We're looking forward to validating our results over the coming years in a diverse range of climates by demonstrating how our biodegradable materials can protect saplings in the early years after planting and are confident that biodegradable tree shelters will play a meaningful role in sustainable forestry and the UK's net-zero ambitions."

 

Editor's notes:

Tree shelters protect young trees and bushes from predation by animals. They are a well-proven and economic route to limiting losses in the first five years of a tree's life. Traditionally made from oil-based and non-biodegradable plastics, the majority of such shelters are not collected and litter the environment with microplastics.

In the UK, around 45 million trees are planted each year, most of those using non-biodegradable tree shelters for protection, resulting in an estimated 2,500 tons per annum of persistent microplastics remaining in the natural environment after use.

Plans to significantly increase tree planting have been announced recently by the UK Government in the Net Zero Strategy to triple planting rates from 13,660 hectares across the UK in 2020 to 30,000 hectares each year by the end of this Parliament.

More details on the scientific approach to this project and its future path to fuller commercialisation can be found in a short explanatory video commissioned by the Company that can be viewed here: https://youtu.be/gd6nsuYXopw .

Suregreen has also released a video https://youtu.be/-77nbgeuUhU and explanatory webpage www.sure-green.com/vigilis-bio.html supporting the launch of the tree shelters.

 

-Ends-

 

For further information please contact: Biome Technologies plc

Paul Mines, Chief Executive Officer

Donna Simpson-Strange, Company Secretary

[email protected]

Tel: +44 (0) 2380 867 100

www.biometechnologiesplc.com

 

Allenby Capital

David Hart/Alex Brearley (Nominated Adviser)

Kelly Gardiner (Sales and Corporate Broking)

Tel: +44 (0) 20 3328 5656

www.allenbycapital.com

 

About Biome

Biome Technologies plc is an AIM listed, growth-orientated, commercially driven technology group. Our strategy is founded on building market-leading positions based on patented technology and serving international customers in valuable market sectors. We have chosen to do this by developing products in application areas where the value-added pricing can be justified and are not reliant on government legislation. These products are driven by customer requirements and are compatible with existing manufacturing processes. They are market rather than technology-led.

The Group comprises two divisions, Biome Bioplastics Limited and Stanelco RF Technologies Limited.

Biome Bioplastics is a leading developer of highly-functional, bio-based and biodegradable plastics. The company's mission is to produce bioplastics that challenge the dominance of oil-based polymers.

Stanelco RF Technologies designs, builds and services advanced radio frequency (RF) systems. Dielectric and induction heating products are at the core of a product offering that ranges from portable sealing devices to large furnaces for the fibre optics markets.

 

www.biometechnologiesplc.com

www.biomebioplastics.com   and  www.thinkbioplastic.com  

www.stanelcorftechnologies.com

   

About Suregreen

Suregreen is a leading manufacturer and e-commerce supplier of products for the forestry, fencing and landscaping markets. Situated in Essex, it offers nationwide delivery using a range of its own craned vehicles and national transport providers. Further details can be found at www.sure-green.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

MSCBRBDGBDDDGBD

Close

×

Neville Registrars is delighted to welcome Tungsten West PLC as the newest addition to its list of client companies.

Tungsten West is a mining development company focussed on the restarting of the world-class Hemerdon Tungsten-Tin mine located in South Devon, UK. The Company is the 100% owner of the previously producing Hemerdon mine, which is currently the 3rd largest tungsten resource in the world.

Further information can be found on the Company's website: https://www.tungstenwest.com/

Close

×

RNS Number : 4472P

Bens Creek Group PLC

19 October 2021

 

NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

 

19 October 2021

BENS CREEK GROUP PLC

("Bens Creek" or the "Company" or the "Group")

ADMISSION TO TRADING ON AIM AND FIRST DAY OF DEALINGS

Bens Creek Group plc (AIM: BEN), the owner of a metallurgical coal mine in North America, is pleased to announce that Admission to AIM will occur, and dealings in its shares will commence, at 08.00 a.m. today, 19 October 2021.  Dealings in the shares will commence under the ticker "BEN".  This ISIN number is 213800I3FGJ7KAZGEG14 and the SEDOL is BP814F2 .

Upon Admission, the Company will have a market capitalisation of £35.0 million, following a successful total fundraise of £7.0 million (before expenses) at the placing price of 10 pence per Ordinary Share ("the Placing"). 

The net funds raised on Admission of c. £5.8 million will be used to finance the Group's mining operations, including:

(i)  the refurbishment of the Company's coal preparation plant and railroad;

(ii)  infrastructure repair;

(iii)  the acquisition of mining equipment;

(iv)  working capital; and

(v) to repay certain short-term debt facilities, which have been used to continue the capital expenditure, owed to MBU Capital Group Limited, the Company's major shareholder.

 

Commenting on the successful IPO Adam Wilson, Chief Executive Officer of Bens Creek, commented:

"We are delighted to start trading on AIM today.  We experienced substantial investor demand and our Placing was significantly oversubscribed.  Investors clearly recognize that high quality metallurgical coal is a scarce commodity and the price has historically been significantly higher than for that of thermal coal, given that it is a critical input in the steel production process."

"We expect the business to have low levels of debt combined with robust operating margins, and we expect to generate significant operating cash flows from our operations by utilising contract miners who will supply labour, equipment, and materials."

Metallurgical coal assets in West Virginia, USA

The Company owns and operates a metallurgical coal mine located on 10,000 acres on the southern part of the state of West Virginia and eastern edge of Kentucky, in the central Appalachian Basin of the eastern United States of America (the "Mine"). The Mine's operations are located primarily in Mingo County, West Virginia. The Mine includes a wash plant and rail loading facility located on the freehold land.

The underground and surface mines owned by the Group, the Pond Creek Mine and the Lower Alma Lower Bench Mine, have been dormant since 2014 and 2009 respectively. The Group's primary objective will be to move the first underground mine into production by the end of Q4 2021 and the Company's immediate priority will be to deploy part of the net proceeds from the Placing in pursuit of the work programme. The Company may also in the future seek to make further acquisitions of metallurgical coal mines in North America.

 

Resource base*

Historically Hi-Vol-A and Hi-Vol-B metallurgical coal has been produced from the Mine. Metallurgical coal is a critical input in the steel production process. The Mine has estimated coal resources of 17.2 million in-place tons and proven and probable recoverable coal reserves of 2.34 million tons (comprising the coal reserves at the Lower Alma and Pond Creek mines). The Mine also has direct access to domestic markets through the Norfolk Southern Rail Company's rail network and to export markets through the Lamberts Point Export Terminal in Norfolk, Virginia.

Key assets and infrastructure

· 17.2 million in-place tons of metallurgical coal resources.

· Proven and probable recoverable coal reserves of 2.34 million tons (Lower Alma and Pond Creek mines).

· Coal preparation plant and rail loadout facilities in good condition, built in 1992 with a nominal throughput of 500tph raw coal.

· Froth flotation circuit allows recovery of ultra-fine material, improving plant recovery.

· Fast flood rail load out.

· Refuse disposal area adjacent to the preparation plant designed as a combined fill refuse structure (rather than a dam).

· Ancillary infrastructure includes coal bins, office and storage trailers, electrical substations, power lines and truck scales.

· A new decanter screen-bowl dryer installed in 2011/2012 to reduce moisture levels in flotation product.

· Direct access to domestic markets through the Norfolk Southern Railway Company's rail network and to export markets through the Lambert's Point Export Terminal in Norfolk, Virginia.

Adam Wilson, Chief Executive Officer of Bens Creek, added:

"Metallurgical coal is a daily priced, homogenous, and easily tradable commodity. We have proven reserves with logistical advantages and operational infrastructure in place.  There are already several active mining contractors in the state of West Virginia, and we intend to commence operations in Q4 2021, which will help to create employment and stimulate the local economy."

"The macro picture currently looks favourable, with strong global demand for steel, not least in the US, where President Biden announced early this year a $2 trillion plan to overhaul and upgrade the nation's infrastructure, including plans to spend on roads, bridges and other physical improvements."

The Company is being advised by Allenby Capital Limited, who are acting as nominated adviser and joint broker, together with Optiva Securities Limited as joint broker. Clear Capital Markets Limited acted as placing agent for the Company.

The Company's admission document is available to view on the Company's website at www.benscreek.com.

-Ends-

 

For further information please contact:

Bens Creek Group plc Adam Wilson, CEO Raju Haldankar, CFO	Via Belvedere Communications
Allenby Capital Limited (Nominated Adviser and Joint Broker) Nick Naylor Nick Athanas George Payne	+44 (0) 203 328 5656
Clear Capital Markets Limited (Placing Agent) Keith Swann	+44 (0) 203 897 0981
Optiva Securities Limited (Joint Broker) Christian Dennis Jeremy King Daniel Ingram	+44 (0) 203 137 1902
Belvedere Communications (Public Relations) John West Llew Angus	+44 (0) 20 368 72753 +44 (0) 20 368 72754

 

*Details on the Group's resources that are contained in this announcement have been extracted without amendment from the Company's admission document which has been published in connection with Admission and includes a competent person's report prepared in accordance with the AIM Rules for Companies.

Directors from Admission

Adam Wilson – Chief Executive Officer

Adam qualified as a Barrister at Law prior to training in corporate finance at RM Rothschild & Sons and holds a BSc in Finance and Accounting and a postgraduate diploma in Mining Project Appraisal and Finance. He has over 30 years' experience in financial markets, specialising in corporate restructuring and special situation turnarounds, and has worked for over 20 years in natural resources. He was formerly CEO and Chairman of one of the largest anthracite mining operations in the US – Atlantic Carbon Inc. – where is now holds the position of Chairman Emeritus. He was also the CEO of Hichens Harrison, London's oldest stockbroker, which was later sold to Religare of India in 2008 for £56 million. He is Senior Advisor to MBU Capital and holds primary responsibility for the firm's natural resources portfolio.

Raju Haldankar – Chief Financial Officer

Raju qualified as an accountant with Baker Tilly (now RSM) and is currently Group Finance Director at MBU Capital. Raju has over 20 years 'experience in the financial services sector – all with UK regulated institutions, including those domiciled in Jersey and Guernsey. He was an Assistant Director of Finance at the investment management business of Singer & Friedlander Plc covering £8 billion of funds under management. Prior to joining MBU Capital, Raju was partner at a boutique broking firm. Raju will continue with his responsibilities as Group Finance Director of MBU Capital and will devote as much time as necessary to perform his duties as Finance Director of the Company.

Robin Fryer – Independent Non-Executive Chairman

Robin is a financial consultant by background and a former senior partner with Deloitte LLP, where he held roles including Global Mining and Metals Industry Leader and Global Audit Managing Director during his 40 year tenure. More recently, Mr Fryer acted as a Non-Executive Director for AIM-quoted Shanta Gold Limited for eight years, where he chaired the audit committee. Robin has extensive experience advising multinational companies in mining, manufacturing and construction sectors in Europe, Africa, North and South America and Australia. He has experience in IPOs, mergers and acquisitions, due diligence on acquisition targets, financial reporting, internal control, risk management and internal audit. Robin is a member Association of Chartered Certified Accountants, American Institute of Certified Public Accountants, and South African Institute of Chartered Accountants. Robin is Non-Executive Chairman of Central Copper Resources Limited, a company which is focused on delivering a high grade copper project into production and exploration of assets in the Democratic Republic of Congo and in the Republic of Zambia.

David Harris – Independent Non-Executive Director

David has over 35 years' experience in the financial services sector and is currently Chief Executive of InvaTrust Consultancy Ltd, a specialist investment and marketing consultancy group that undertakes projects within the investment fund management industry. David has undertaken a total of twelve quoted company non-executive director roles, on the main market of the LSE and AIM, in a variety of sectors including manufacturing, property, insurance and closed-end investment funds in the UK, Europe and the Far East.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

MSCBIBDGRBBDGBI

Close

×

Neville Registrars is delighted to welcome Bens Creek Group PLC as the newest addition to its list of client companies.

Bens Creek Group is an AIM listed holding company set up to own and operate metallurgical coal mines in North America. The Company owns the Ben’s Creek mining project in West Virginia, USA.

Further information can be found on the Company's website: https://www.benscreek.com/

Close

×

Neville Registrars is delighted to welcome Light Science Technologies Holdings plc as the newest addition to its list of client companies.

Light Science Technologies specialises in creating and manufacturing bespoke solutions for global clients across pest control, lighting, electronics, oil & gas, and automotive industries.

Further information can be found on the Company's website: https://lightsciencetechnologiesholdings.com/

Close