Update on three LSE listed stocks ITV Plc, Faron Pharmaceuticals Oy and Pembridge Resources Plc

ITV Plc

ITV Plc is a United Kingdom based television content generation and broadcasting company. The company operates several commercial television channels in the United Kingdom along with online content. Other than the United Kingdom the company’s content is also available internationally in several other countries. The company’s generated content includes drama, reality shows, sports, cartoons, news, weather as well as education related programs.

The shares of the company have their listing on the London Stock Exchange in the main market segment. Here they trade using the ticker name ITV. The shares of the company also form part of the FTSE 100 index.

Trading Update

The company on 8 November 2019 came out with a trading update on the sale of its London Television Centre to Mitsubishi Estate London Limited.

  • The company in the update informed that it has exchanged contracts with Mitsubishi Estate London Limited  for the sale of its London Television Centre for a consideration of £145.6 million in an all cash transaction.
Performance at the London Stock Exchange

Price Chart as on 11 November 2019, before the market close (Source: Thomson Reuters)

On 11 November 2019, at the time of writing the report (before the market close, GMT 2.21 PM), ITV shares were trading on the London Stock Exchange at GBX 136.05.

The stock of the company has a 52-week High of GBX 161.3 and a 52-week low of GBX 102.65. The total market capitalization of the company at the time of writing this report was £5.40 billion.

Outlook

The company in 2014 had formed a Pension Funding Partnership along with its trustees with backing from The London Television Centre which over a period culminated assets of Section A of the defined benefit pension scheme being enhanced by £50 million. The proceeds from the sale of this asset will be used in part to replace the asset security and in part to pay off some of the company’s debts.

Faron Pharmaceuticals Oy

Faron Pharmaceuticals Oy is a Turku Finland domiciled pharmaceuticals company. The company is in its clinical stages with majority of its products focussing on reliance on endothelial receptors and targeting acute organ traumas, vascular damage and cancer immunity through regulation of immune responses. The company’s ongoing work is currently branched into two divisions one called Traumakine and the other called Clevegen. Traumakine prevents vascular leakage and organ failure under ischemic conditions, which is currently under third phase of clinical trials for the treatment of Acute Respiratory Distress Syndrome and in the second Phase trial for the prevention of multi-organ failure after emergency aortic surgery from the Rupture of Abdominal Aorta Aneurysm in Europe. The clinical product Clevegen is a path breaking invention of the company; its antibody anti-clever-1 is capable of switching from immuno suppression to immune activation conditions under defined conditions. This antibody has immense potential in the clinical fields of infectious diseases, vaccine development and oncology.

The shares of the company have their listing on the London Stock Exchange in the Alternative Investment Market (AIM) segment. There the shares trade using the ticker name FARN.

Trading Update

The company on 8 November 2019 came out with an update on the Bookbuild that was announced by the company on 7 November 2019 and culminated at the end of the on the next day.

  • The placement was for 3,935,500 Shares at an Issue Price of 190 pence per share which is equivalent to an Issue Price of EUR 2.198 per placing share. All the shares of the company were subscribed by the end of the day on 7 November 2019.
  • The shares placed represent 10 per cent of the issued share capital of the company and the company was able to garner £ 7.48 million worth of funds from this placement which is equivalent to €8.65 million.
  • The trading on the shares in the Alternative Investment Market (AIM) will commence from 14 November 2019, and subsequently the total number of shares with voting rights outstanding of the company would be 43,290,747.
Performance at the London Stock Exchange

Price Chart as on 11 November 2019, before the market close (Source: Thomson Reuters)

On 11 November 2019, at the time of writing the report (before the market close, GMT 2.21 PM), FARN shares were trading on the London Stock Exchange at GBX 224.99.

The stock of the company has a 52-week High of GBX 284.7 and a 52-week low of GBX 50.040. The total market capitalization of the company at the time of writing this report was £92.09 million. 

Outlook

The proceeds from this placement is envisaged to be channelized into the Clevegen development programme, which the company has pinned high hopes on. The proceeds from the issue will provide approximately twelve months of working capital to the company.

Pembridge Resources Plc

Pembridge Resources Plc is a United Kingdom domiciled mining and mineral exploration company with interests in mining assets in Namibia and Canada. The company which was first listed on the Alternative Investment market (AIM) segment of the London Stock Exchange had successfully made the transition to main market segment on 21 August 2017. Subsequently, however, the shares of the company were suspended from trading by the Financial Conducts Authority (FCA).

The shares of the company are listed on the London Stock Exchange on the main market segment under the ticker name PERE.

Trading Update

The company on 8 November 2019 came out with an update on the amendment to the agreement that its subsidiary Minto Explorations Ltd has entered into with Wheaton Precious Metals Corp of Canada.

  • The modification is regarding the pricing method by which Minto Explorations Ltd used to sell gold and silver to Wheaton Precious Metals Corp. The modification involves significant hiking of the prices to be received by Minto Explorations Ltd.
Performance at the London Stock Exchange

The stock of the company is under suspension. The total market capitalization of the company as per last available data was £0.29 million.

Outlook

Minto Explorations Ltd was acquired by Pembridge Resources Plc from Capstone Mining Corporation in June 2019 and it had restarted the operations in October 2019. The Minto mines were operational for a period of eleven years since 2007 to 2018 and approximately US$350 million have been invested into Minto operations since 2006. The pricing agreement amendment is to make to operations profitable.