Month: January 2017

Motif Bio plc
(“Motif Bio” or the “Company”)

Motif Bio Phase 3 clinical trial finishes patient treatment phase

Motif Bio plc (AIM: MTFB), the clinical stage biopharmaceutical company specialising in developing novel antibiotics, today announced that the last patient has finished the treatment phase in REVIVE-1, the Phase 3 clinical trial investigating the safety and efficacy of iclaprim in patients with acute bacterial skin and skin structure infections (ABSSSI).

REVIVE-1 is a 600-patient double-blinded, global, multicentre trial, in patients with ABSSSI that compares the safety and efficacy of an 80mg intravenous dose of iclaprim with 15mg/kg intravenous vancomycin. Treatments were administered every 12 hours for 5 to 14 days. Data read-out is expected in the second quarter of 2017.

Data read-out for REVIVE-2 is anticipated in the second half of 2017. Successful completion of the two REVIVE trials is expected to satisfy both US FDA and EMA requirements for regulatory submission for intravenous iclaprim in the treatment of ABSSSI.

Commenting on this milestone, Graham Lumsden, CEO of Motif Bio, said: “Thanks to the patients and investigators who participated in REVIVE-1, we remain on track to be able to share the first data from our Phase 3 clinical trials in Q2 17. We believe that iclaprim, if approved, can be an important option for patients hospitalised with ABSSSI who also have kidney disease with or without diabetes. It is estimated that up to 26% of the 3.6 million ABSSSI patients hospitalised annually in the U.S. have kidney disease.”

For further information, please contact:
Motif Bio plc
Graham Lumsden (Chief Executive Officer): info@motifbio.com

Zeus Capital Limited (NOMAD & BROKER)
Phil Walker/Giles Balleny/Dominic Wilson: +44 (0)20 3829 5000

Northland Capital Partners Limited (BROKER)
Patrick Claridge/David Hignell/John Howes/Rob Rees: +44 (0)20 7382 1100

Walbrook PR Ltd. (FINANCIAL PR & IR): +44 (0)20 7933 8780 or motifbio@walbrookpr.com
Paul McManus Mob: +44 (0)7980 541 893
Mike Wort Mob: +44 (0)7900 608 002

MC Services AG (EUROPEAN IR)
Raimund Gabriel: +49 (0)89 210 2280

Notes to Editors:

About Iclaprim: Iclaprim is a novel antibiotic that has a different and underutilized mechanism of action compared to most other antibiotics. Iclaprim exhibits potent activity against Gram-positive clinical isolates of many genera of staphylococci, including methicillin resistant Staphylococcus aureus (MRSA). Iclaprim is rapidly bactericidal, achieving 99.9% in-vitro kill against MRSA within 4 to 6 hours of drug exposure versus 8 to 10 hours for vancomycin. To date, iclaprim has been studied in over 600 patients and healthy volunteers.

About Motif Bio: Motif Bio is a clinical-stage biopharmaceutical company, engaged in the research and development of novel antibiotics designed to be effective against serious and life-threatening infections in hospitalised patients caused by multi-drug resistant bacteria. Our lead product candidate, iclaprim, is being developed for the treatment of acute bacterial skin and skin structure infections (ABSSSI) and hospital acquired bacterial pneumonia (HABP), including ventilator associated bacterial pneumonia (VABP), hospital infections often caused by MRSA (methicillin resistant Staphylococcus aureus).

This information is provided by RNS
The company news service from the London Stock Exchange

WideCells Group PLC (‘WideCells Group’ or ‘the Company’)

Director Purchases and Grant of Options

WideCells Group PLC, the healthcare services company focused on providing stem cell services and ground breaking insurance for stem cell treatment, is pleased to announce that Chairman Dr. Graham Hine, Chief Executive Officer João Andrade, Chief Financial Officer David Bridgland, Chief Operating Officer Lopes Gil and Non-Executive Director Marilyn Orcharton have purchased a combined total of 100,000 new ordinary shares in the Company (the ‘Director Purchases’).

Additionally, the Company announces that between December 2016 and January 2017 the Company granted options (‘Options’) over 380,000 ordinary shares of 0.25 pence each in the capital of the Company (‘Ordinary Shares’) pursuant to the Company’s EMI Share Option Plan. The Options have been granted to employees of the Company in recognition of their significant contribution towards progressing WideCell’s innovative stem cell services offering. The Options are exercisable at 14 pence per Ordinary Share, being the closing market price on 14 December 2016, with an expiry date for exercise of 14 December 2026.

Director Purchases

Details of the Director Purchases can be found in the table below:

Director	Number of Shares Purchased	Share Purchase Price	Number of shares held following the Director Purchase	Share Capital (%) following the Director Purchase
Graham Hine	20,000	13.37p	3,198,698	5.92%
João Andrade	20,000	13.25p	8,020,000	14.84%
David Bridgland	20,000	13.375p	252,552	0.47%
Lopes Gil	20,000	13.25p	8,020,000	14.84%
Marilyn Orcharton	20,000	13.445p	135,952	0.25%

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Names	1.    Graham Hine 2.    João Andrade 3.    David Bridgland 4.    Lopes Gil 5.    Marilyn Orcharton
2	Reason for the notification
a)	Position/status	Directors of the Company
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	WideCells Group PLC
b)	LEI	n/a
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 0.25 pence each
b)	Identification code	GB00BD060S65
c)	Nature of the transaction	Purchase of Shares
d)	Price(s) and volume(s)	Price(s) Volume(s) 1.   13.37p 2.   13.25p 3.   13.375p 4.   13.25p 5.   13.445p 20,000 20,000 20,000 20,000 20,000
d)	Aggregated information – Aggregated volume – Price	100,000 13.338p
e)	Date of the transaction	30 January 2017
f)	Place of the transaction	London Stock Exchange

 

Grant of Options

The 380,000 options will vest as follows (approximate):

• 126,666 immediately;
• 126,666 on 14 December 2017; and
• 126,667 on 14 December 2018, subject to continuous employment, except that they will vest automatically upon the sale of the Company.

**ENDS**

For further information, please visit the Company’s website www.widecellsgroup.com, follow us on Twitter @WideCells_Group or contact:

WideCells Group | CEO – João Andrade | Tel: +351 919 033 171
Vicarage Capital Ltd | Broker – Jeremy Woodgate & Rupert Williams | Tel: +44 (0) 20 3651 2912
Shard Capital Partners LLP | Broker – Damon Heath & Erik Woolgar | Tel: +44 (0) 207 186 9950
St Brides Partners Ltd | PR – Elisabeth Cowell & Charlotte Page | Tel: +44 (0) 20 7236 1177

Notes to Editors

WideCells Group PLC is building an integrated stem cell services company, focused on making stem cell treatments accessible and affordable. The Directors believe that the use of cord blood stem cells for transplant will drive one of the next important phases in medicine and is therefore developing market leading products in complementary, strategic areas which are designed to take advantage of substantial market opportunities in one of the fastest growing segments in the healthcare industry. With this in mind, it has created three divisions:
• CellPlan: the world’s first stem cell healthcare insurance plan with financial cover for medical treatment, travel and accommodation expenses and concierge service to manage the treatment process
• WideCells: the Institute of Stem Cell Technology has been established and is based in the University of Manchester Innovation Center to focus on stem cell research and regenerative medicine. WideCells also has international cryogenics divisions specialising on stem cell storage.
• WideAcademy: developing an education and training division to promote awareness of the benefits of stem cell storage across the global general practice community.

The Group has built an experienced senior management team that has been integral to the development of its growth and business to date.

Stem Cell Fast Facts:

• Cord blood (which is taken from the umbilical cord) provides the most effective source of stem cells for families due to it being simple, safe and painless to collect relative to other sources of stem cells such as bone marrow – WideCells will focus on promoting the collection and storage of this.
• Since 2005, there has been a 300% increase in the number of illnesses that can be treated using stem cells
• 82 illnesses can currently be treated using stem cell procedures
• Despite initial storage often costing no more than a few £thousand, actual treatment can cost in the £hundreds of thousands

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR).

This information is provided by RNS
The company news service from the London Stock Exchange

Challenger Acquisitions Limited
(“Challenger” or the “Company”)

Sale of Starneth with Contingent Consideration and Cooperation Agreement Signed for Future Giant Observation Wheel Projects

Challenger Acquisitions Limited (LSE: CHAL) announces that it has disposed of its entire interest in Starneth Europe B.V. and Starneth Holding B.V. (“Starneth”) (see acquisition announcement dated 16 July 2015). The sale of Starneth (“the Sale”) provides for contingent consideration, an on-going cooperation agreement for Challenger to provide potential funding options for the developers of select Giant Observation Wheel (“GOW”) projects and the extinguishing of all cash obligations owing by Challenger to the former owners of Starneth and to any companies controlled by these former owners. The new owner of Starneth is Sungailiat B.V., a company controlled by Chiel Smits, CEO of Starneth.

Contingent Consideration
Upon closing of at least two major development projects by Starneth over the next two years, including the GOW project in Jakarta where developer’s funding arrangements are awaiting finalisation, Challenger will receive up to US$6 million in fees less a payment of €1.25 million related to the cash payment that the Company was due to pay to the former Starneth vendors in two equal instalments on 15 January 2017 and 15 April 2017 (see the Company’s announcement dated 23 August 2016). One common equity unit of New York Wheel LLC will continue to be pledged to the former Starneth vendors until this payment of €1.25 million has been completed. Following the Sale, Challenger will retain its equity stake in the New York Wheel LLC, with a minimum of two equity units and up to three equity units depending on the closure of at least one project by Starneth in the next two years.

The cash fees of up to US$6 million that Challenger would receive are based on two fee agreements signed with Sungailiat/Starneth and are calculated based on the incoming cash receipts from the developers for these projects. The cash payment of €1.25 million from Challenger is contingent on these projects commencing and paid only once Challenger starts receiving these cash fees.

Cooperation Agreement
Challenger and Sungailiat B.V. have signed a five-year cooperation agreement whereby Sungailiat/Starneth can provide the design, engineering and project management for select GOW projects and Challenger can provide potential funding options for the developers of these select projects, including some which may result in an equity stake for Challenger. The terms of this agreement are similar to those in the cooperation agreement described in the Company’s announcement dated 18 March 2015.

Mark Gustafson, Challenger’s Chief Executive Officer said: “Mindful of the extended delay in commencing work on the Jakarta project, the long timeline required to commence construction on other Giant Observation Wheel projects and having carefully assessed potential development options for the Company, we consider it to be most prudent for the short and long-term growth prospects of Challenger to divest our interest in Starneth. Importantly, the Sale extinguishes all of our regular cash obligations to Starneth whilst still maintaining our strong relationship with them to ensure that we might benefit from the development of future projects.

“Looking ahead, we have identified additional acquisition opportunities in the leisure and entertainment sectors which we believe have the potential to offer near term revenue generation prospects. We look forward to updating shareholders on these developments as soon as we are in a position to do so. We would finally like to thank shareholders for their patience and support during what has been a frustrating time. Building shareholder value remains our priority as a company.”

This announcement contains inside information.

**ENDS**

For more information visit www.challengeracquisitions.com or enquire to:

Challenger Acquisitions Limited: Mark Gustafson +1 604 454 8677
St Brides Partners Ltd (PR): Lottie Brocklehurst, Charlotte Heap +44 (0) 20 7236 1177
finnCap (Financial Adviser and Broker): Adrian Hargrave, James Thompson, Kate Bannatyne +44 (0) 20 7220 0500

This information is provided by RNS
The company news service from the London Stock Exchange

Jubilee Platinum PLC
(“Jubilee” or “Company”)

COMMISSIONING OF THE HERNIC TAILINGS PROJECT UPDATE

Exercise of warrants

Highlights

• Commissioning of the Chromite Recovery Plant progressing to schedule with first delivery of chromite concentrate product targeted within the next two weeks.
• Tie-in of the Chromite Recovery Plant into the Hernic operational stream targeted over next 10 days.
• The commissioning of the PGM Recovery Plant is the natural succession of the Chromite Recovery Plant with integration of the two recovery plants targeted for February 2017. Tailings of the Chromite Recovery Plant forms the feed to the Platinum Group Metals (“PGMs”) Recovery Plant
• At conclusion of commissioning the recovery plants will consist of 71 unit processes operated through 108 control loops supporting material transfer systems totalling 7.100 kilometres.

Mine-to-Metals specialist Jubilee Platinum plc (AIM: JLP, AltX: JBL) is pleased to announce, on behalf of its subsidiary Jubilee Processing Proprietary Limited, a progress update on the commissioning of its Chromite and PGMs Recovery Plants (“the Project”) at Hernic Ferrochrome Proprietary Limited (“Hernic”) for the recovery of chromite and PGMs from the Hernic tailings (“Hernic Tailings Project”).

At full production the Project will be the largest PGM beneficiation plant of surface chrome tailings in South Africa targeting the processing of 55 000 tons per month of chrome and PGM rich material. The Company has followed a very stringent systematic approach to the commissioning of this large integrated Project to both minimize operational interruptions to the existing Hernic operation as well as ensuring a controlled start-up to minimise the time required to reach stable operation.
The commissioning activities include:

• Structural, Mechanical, Electrical, C&I, Piping and Equipment testing to ensure the integrity of installation which relate to construction deliverables
• Pre-operational functional testing and operating of the equipment, under no load, for short periods of time, focussing on an isolated piece of equipment within a larger process unit.
• Integrated functional testing of process units in closed loop using process water to complete commissioning of mechanical and process control functionality of the integrated metallurgical process unit.
• Final functional testing of fully integrated metallurgical unit processes using process water prior to feeding chromite and PGM material.
  The final step of integrating the Chromite Recovery Plant into Hernic’s current operations to receive Hernic feed material and ramping up of production, is targeted for completion within the next two weeks
• The tailings from the Chromite Recovery Plant forms the feed to the PGM Recovery plant. The integration of the two circuits will commence during February 2017. The commissioning of the PGM Recovery Plant is the natural succession of the Chromite Recovery Plant with operational testing and commissioning of the unit processes of the PGM Recovery Plant targeted for February 2017.

Project Capital expenditure to commencement of commission totals £10 million (ZAR 167.1 million) or 85% of the projected total capital spent for the Project which is line with the targeted milestones of the project.

Leon Coetzer, Chief Executive commented:
“We are excited with the progress as we complete the testing and commissioning of our Hernic project. The complexity of bringing such a large project into operation has been well managed through a disciplined commissioning program and the support of our contracted engineering and project management partners. I invite our shareholders to view the latest update Project pictures and short videos capturing the progress on the commissioning activities on the Jubilee website. The picture gallery depicts the transformation of the project area during the project construction phase and the commissioning activities. It also captures the magnitude of the Project as we transform Jubilee into a platinum and chromite producer.”

Jubilee also announces that it has received notification from a warrant holder to exercise 10,550,581 existing warrants in the issued share capital of Jubilee (“Warrant Shares”) at a price of 3.23p (ZAR54.17c) per Warrant Share. The exercise of Warrant Shares amounts, in aggregate, to a cash value of GBP 340,784 (ZAR 5.7 million).

The Warrant Shares are expected to be admitted to trading on AIM and listed on the AltX of the JSE Limited on or about 3 February 2017 and will rank pari passu with the ordinary shares of the Company in issue.

Total voting rights

The Company’s total issued capital, after the issue of the Warrant Shares, will be 1,033,285,942 ordinary shares. As the Company does not hold any shares in Treasury, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company following Admission.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Contacts
Jubilee Platinum plc
Colin Bird/Leon Coetzer  |  Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913
Andrew Sarosi  |  Tel +44 (0)1752 221937
JSE Sponsor – Sasfin Capital, a division of Sasfin Bank Limited
Sharon Owens  |  Tel +27 (0)11 809 7500
Nominated Adviser – SPARK Advisory Partners Limited
Sean Wyndham-Quin/Mark Brady  |  Tel: +44 (0)203 368 3555
Broker – Beaufort Securities Limited
Jon Belliss  |  Tel: +44 (0) 20 7382 8300

The Hernic Project 
Hernic Ferrochrome Proprietary Limited (“Hernic”) is the world’s 4th largest integrated ferrochrome producer with an estimated 3 million tons of platinum containing material at surface while Hernic continues to add further material to the surface stock.
The Company was selected as the exclusive party to beneficiate the chromite and PGMs contained in the Hernic Surface Material (“the Project”) and address the project execution methodology as well as the operational and financial performance targets. The Project is the second of the Company’s Two Projects.
The Hernic Surface Material has been independently fully drilled and assayed for chrome and PGM content. This has resulted in an independent resource statement of 1.7 million tons, of which approximately 90% of the resource is classified in the measured category under the internationally recognised SAMREC code. Hernic also has access to secondary surface stocks, which it has internally identified and could increase the surface stocks to in excess of 3 million tons through further drilling programmes. The Project is estimated to contain total PGMs in excess of 224 000 (3PGM + Au) oz.
The Project will be the largest PGM beneficiation plant of surface chrome tailings in South Africa and is capable of producing annual revenues of GBP 18.2 million (ZAR 400 million*) at an average metal basket price of USD 906 per (3PGM + Au) per oz. The financial and operational risks of the Project are significantly mitigated since the material is already at surface and requires neither the cost nor the risk associated with mining.
An extensive prefeasibility study has been concluded on the Project, which included both pilot scale and full commercial scale trials to confirm the design and operational parameters.
The Project is to be undertaken in four phases over an 11 month period; namely

• Phase one – Bankable Feasibility Study and Engineering Design. — Completed.
• Phase two – Construction of the chrome and platinum processing plant (“Processing Plant”). – On-going
• Phase three – Commissioning and Ramp up of Processing Plant to design capacity of 55 000 tons per month. – On-going
• Phase Four – Stable operation of the Processing Plant.

The Company has targeted a combined processing of platinum containing surface material over the two projects in excess of 900 000 tons per annum.
The ZAR-based debt funding for both surface projects equates to GBP 11.5 million (ZAR 255 million*) before financing costs. The working capital required to bring the two surface projects into operation and to achieve positive earnings is estimated at GBP 3.4 million (ZAR 75 million*).
*=Conversion as at the commencement of the Project

This information is provided by RNS
The company news service from the London Stock Exchange

Rosslyn Data Technologies plc (“Rosslyn” or the “Company” or the “Group”)

Unaudited Group Interim Financial Statements for the six months ended 31 October 2016

Rosslyn, a leading global data technology company, which has developed smart technologies that are enabling companies of all sizes to turn their complex data into meaningful information, announces its interim results for the six months ended 31 October 2016.

Financial Highlights

• Group revenues of £1,666,577, with two revenue items together totalling some £250,000 concluded just outside the period end (2015: £1,821,517)
• EBITDA loss decreased 17% to £1,074,174 (2015: £1,290,170)
• Loss before tax decreased 18% to £1,081,665 (2015: £1,316,412)
• Net Cash at 31 October 2016 £0.7m (2015: £2.6), which increased to approximately £878,000 as at 25 January.
• Subscription revenue remains strong

Operational and Strategic Highlights

• Strategic Partnership with Genpact, a leading Global BPO firm, is deepening and we have recently announced a global relationship with Dun and Bradstreet (“DnB”) which has generated a significant amount of interest and leads.
• RDT was the only non US company selected as one of three Finalists for the ‘Microsoft Global Partner of the Year – Data Platform’ award;
• Customer wins include a major logistics company, a global media company and extensions into new territories for our defence contractor clients;
• Customer churn rates remain low at below 5%; and
• Board remains focused on achieving cash flow break-even during the current financial year.

Post Period Highlights

• Existing clients continue to extend their accounts – near 100% increase in committed monthly revenues from a global defence contractor and extensions of contracts in 5 major clients beyond their initial terms;
• New product introduced, “RAPid One Click” – a new partner based tool from which clients can more effectively tap into all the data held within their diverse ERP platforms. The Board believes this is a scalable and potentially disruptive tool which simplifies the spend analysis market whilst expanding the offering of the RDT platform;
• Sales pipeline remains healthy and is growing with new partners being added and direct clients being at the forefront.

Roger Bullen, Chief Executive, said, “We have made significant progress during the first half of the year and I am extremely pleased with the quality and breadth of our partners. Although it has taken longer than we had anticipated to monetise these relationships, I remain confident in our partner strategy. The quality of these partnerships and the number of others that we are in talks with, I believe, validates our partnership strategy as they recognise the scalability and utility of our platform. Furthermore this increased recognition has led to us being presented with potential acquisition opportunities, which, I believe, adds a further exciting avenue for us to explore when appropriate. The Company is now, more than ever I think, better positioned to take full advantage of the growth within the data analytics arena.”

Enquiries:
Rosslyn Data Technologies plc | Roger Bullen, Chief Executive Officer | +44(0)20 7138 3204
Rosslyn Data Technologies plc | Lance Mercereau, Chief Marketing Officer | +44(0)20 7138 3203
Cenkos Securities, Nominated Adviser, Broker | Stephen Keys/Camilla Hume | +44(0)20 7397 8924

Notes to Editors
Rosslyn Data Technologies plc, (AIM: RDT), a leading provider of a Cloud-based enterprise data analytics platform, was founded in 2005 by Charles Clark and Hugh Cox. Business Intelligence was ranked first in the top ten technology priorities for Chief Information Officers in 2012 by Gartner. The Company provides analytical services by combining four key technologies: data extraction; cleansing; enrichment; and visualisation, through a single cloud platform enabling users with detailed data to make more informed decisions. Rosslyn’s RAPid platform is the Group’s primary product available to its multinational customers, including, Babcock Corporate Services plc, Xerox Business Services and Coca-Cola Enterprises, Inc. Rosslyn Data Technologies plc is the ultimate holding company of the Group and owns 100 percent of Rosslyn Analytics Limited.

Further information can also be found on the Company’s website at: www.rosslynanalytics.com

Chief Executive Review
Since taking over as CEO my strategic focus has been on developing a multi-purpose Dynamic Data Architecture and building a scalable technology platform. This focus has enabled us to develop comprehensive benchmarking modules for the US Direct and Partner markets which has led to the US side of the business accelerating during the current financial year, especially with Partners leveraging the enhanced RAPid One-Click offering. The benefits of our technologies have attracted a number of important partnerships such as DnB, Genpact, and others. I have focussed on ensuring the completion of the platform’s Dynamic Architecture within the Microsoft Azure cloud solution. This has helped to ensure global scalability for all modules and capabilities so that RDT can be the provider of choice for all clients and partners who are seeking to better understand and maximise the use of their data. The success of this focus is most notably evidenced through our improved win loss ratio in competitive bids.

Clients are seeing the benefits of running a real-time analytics capability on a simplified and easy to use platform. RAPid enables customers to extend functionality, benchmark, build new applications and be interoperable with their other business applications and technologies. We believe that it is a key tool for teams and departments looking to maximise the use of data and advanced analytics.

The plans and the objectives we have set out ourselves remain on track. The investments we have made in our platform and our tools and the recognition we are receiving from clients and industry participants provides us with positive feedback and assures us that our clients are benefiting from Rosslyn’s products. We are pleased that we have been able to increase our average price regularly in a highly competitive environment and have shown an ability to integrate extremely complex and varied data sources.

At the same time we have focused on improving our product and have introduced, what we consider to be, a truly scalable offering that does not require individual client modification. This new product, “One-Click”, allows us to implement projects within 2 to 4 weeks from signature, a significant reduction from previous timelines.

I am also pleased to report that our focus on costs and cash collections continues to improve and that the scalability of our product offering is significantly higher than 12 months ago. Our Sales performance provides us more opportunity for improvement, and our relationship with Dun and Bradstreet has opened up a wider opportunity of leads than we had anticipated. This would require additional investment in the US market, something that we are keen to do, whilst being mindful of our target for cash flow break-even.

Underpinning the progress is our talented and skilled team innovating smart solutions to complex data problems, which is widening the sphere of sales opportunities. This is being played out through our growing list of clients, which include many leading global businesses, and importantly the increasing number of partnerships we are establishing across the globe. These partnerships have provided us with access to large firms with their substantial sales teams expose our technology capabilities to more and much larger customers than could normally be achieved by a Company of Rosslyn’s size. During the period we secured notable customer wins, with one partner leveraging the platform to deliver 23 client projects. Our task now is to turn those projects into continuing revenue streams as quickly as possible.

Our sales teams continue to gain momentum. During the period we have seen an increase in the time that our larger clients have taken to sign-off on projects and a shorting of contract lengths for some proposals. However, one key metric that continues to grow is our average contract value which is now more than £75,000 per annum, an increase of more than 50% from that at the time of the IPO. Revenue growth from our installed customer base continues to be ahead of the churn rate and, we believe, is evidence of success in our “land and expand” strategy as well as recognition of the value of Rosslyn’s technology.

We remain focussed on achieving cash flow break-even during the current financial year and, consistent with the Group’s working capital cycle, we have seen the Company’s cash balance grow since the period end, standing at £878,000 as at 25 January 2017. We are pleased with the number of leads that are being generated in the US and see a significant opportunity there. We will continue to assess the balance of expanding our sales team in the US in order to capitalise on the opportunity there as well as evaluating potential acquisition opportunities alongside us achieving our goal of reaching cash flow break even.

We remain confident that, supported by strong contracted revenue visibility and new business momentum, we will continue to build on the progress made in the first half of the year and are confident that the Company will have positive outcome for the year. This combination of progress and opportunity does, I believe, put the Company in an exciting position for the rest of this year and beyond.

Business Review
The six months to 31 October 2016 saw the Company continue to generate market traction, with new contracts won with large enterprises including a leading logistics company and a leading US based Global Media Company.

We are focused on expanding our sales and marketing teams particularly in the US where we see the market opportunity with our partners to be key in delivering significant growth. We will continue to do this through focusing on large enterprises in key industry segments by introducing dedicated partner managers whose focus is on establishing deep and trusted relationships with these strategic accounts. Supporting each of these areas is an expanding customer success team who support not just the success but also the expansion of the footprint of the platform in each account. The growth that we can pursue would require investment. Accordingly, we continue to manage our resources conservatively and assess the balance of investment to capture opportunities in the US and elsewhere as they are presented to us, with the goal of achieving cash flow break even during this financial year.

The Company’s sales pipeline is growing as expected and I am pleased to report that we are in contract negotiations with a number of large enterprises and look forward to updating shareholders in due course. On the partner front, our focus is on making our existing partners ever more effective in selling the benefits of the platform through which we extend and scale our sales capability.

As we see the market demand for analytics grow, we are aware of the need to enhance our product offering and to introduce new features to our product. Our reputation in the space has led to a number of opportunities for growth coming from third parties. As a board we continue to evaluate the merits of these and in particular those that would deliver, significant revenue streams, cost optimisation and modern technology features that would enhance our product offering and, importantly increase the functionality and diversity of our platform.

Financial Review
Group revenues decreased by 8.5% to £1,666,577 (2015: £1,821,517, with the decrease being principally being the result of a one off £200,000 re-seller agreement signed in October 2015 and two contracts of £80,000 and £170,000, which were negotiated in the first half of FY2017, being deferred to December2016. Both of these have now been invoiced and the majority of the cash collected..

EBITDA loss decreased by 17% to £1,074,174 (2015: £1,290,170) and there was also a 18% decrease in the loss before tax of £1,081,665 (2015: £1,316,412).

The basic and diluted loss per share for the period was improved to 1.19p (2015 (1.75p).

Net cash at the end of the six month period was £0.7m (2015: £2.6m). Cash consumed in the first half equated to £1.2m (2015: £2.1m).

Cash consumption was in line with expectations set for the year. We continue to invest into the development of the RAPid product and increasingly into the sales and marketing effort. It is expected that the payback on this continuing investment will be seen in the months ahead and we look forward to the achieving the real potential we see from the partner interest in our technology.

Average headcount in the period decreased to 45 (2015: 49) as we improve the scalability of our platform and reduce the reliance on “human resource services”.

Prospects
The second half of the year has begun well with a number of new contract wins as well as expansion within our current customer portfolio.

RDT has been short listed as the preferred vendor in both the US and UK for potential new contracts which cover a number of new exciting verticals and applications for RDT and we look forward to updating shareholders in due course. This progress has been accelerated through the involvement of Dun and Bradstreet signing our global partnership agreement. Our recognition as one of Microsofts’ data platform finalists is a strong endorsement of our technology and, we believe, positions RDT’s RAPid platform and its associated data technologies within the ecosystem of one of the emerging and principal players in the cloud analytics space.

The research and development team continues to execute on an exciting schedule of improvements and new technologies, which are being released into full production during the second half of this financial year. Of note, we expect to deliver our clients’ predictive analytical capabilities whilst increasing the number of data sources from which our customers can enrich their source data, social media and other unstructured data sources alongside a multitude of macro-economic and compliance indices. We expect this to improve our customers’ risk analytics and compliance reporting capabilities with information and insights to support their strategic decision making.

The Directors are pleased with the progress made to date and believe that the Company is increasingly well positioned to take advantage of the business opportunities that are available. The RAPid platform is emerging as a recognised and well regarded technology in this large, growing market place and, through our continued and disciplined execution, we expect progress to continue.

 

Unaudited Consolidated Income Statement for the Period Ended 31 October 2016

		Unaudited	Unaudited	Audited Year ended 30 April 2016
		6 Months ended 31 October 2016	6 Months ended 31 October 2015
	Notes	£	£	£
Revenue	4	1,666,577	1,821,517	3,869,050
Cost of sales		(360,452)	(136,425)	(481,269)
GROSS PROFIT		1,306,125	1,685,092	3,387,781
Other operating income		–	–	45,535
Administrative expenses		(2,402,545)	(3,002,527)	(5,819,195)
OPERATING LOSS		(1,096,420)	(1,317,435)	(2,385,879)
Finance costs		–	–	–
Finance income		14,755	1,023	11,058
LOSS BEFORE INCOME TAX		(1,081,665)	(1,316,412)	(2,374,821)
Income tax		100,000	–	256,878
LOSS FOR THE YEAR		(981,665)	(1,316,412)	(2,117,943)
Other comprehensive income		80,676	–	(14,908)
TOTAL COMPREHENIVE INCOME		(900,989)	(1,316,412)	(2,132,851)
	6	Pence	Pence	Pence
Basic and diluted loss per share		1.19	1.75	2.82
The notes are an integral part of these Unaudited Group Interim Financial Statements.

 

Unaudited Consolidated Statement of Financial Position

		Unaudited as at	Unaudited as at	Audited as at
		31-Oct	31-Oct	30-Apr
		2016	2015	2016
		£	£	£
ASSETS
NON-CURRENT ASSETS
Intangible assets		–	–	–
Property, plant and equipment		42,555	79,506	57,353
		42,555	79,506	57,353
CURRENT ASSETS
Trade and other receivables		2,060,918	1,611,133	1,907,521
Corporation tax receivable		353,000	218,082	253,000
Cash and cash equivalents		681,622	2,616,375	1,858,841
		3,095,540	4,445,590	4,019,362
TOTAL ASSETS		3,138,095	4,525,096	4,076,715
LIABILITIES
NON-CURRENT LIABILITIES
Deferred tax		–	–	–
CURRENT LIABILITIES
Trade and other payables		(1,506,999)	(1,332,383)	(1,635,015)
Financial liabilities – borrowings		–	–	–
		(1,506,999)	(1,332,383)	(1,635,015)
TOTAL LIABILITIES		(1,506,999)	(1,332,383)	(1,635,015)
NET (LIABILITIES)/ASSETS		1,631,096	3,192,713	2,441,700
EQUITY
Called up share capital		378,829	377,229	378,829
Share premium		8,517,060	8,515,916	8,517,060
Shares based payment reserve		251,938	288,017	166,107
Forex Reserve		47,265	(43,718)	(33,411)
Merger Reserve		5,133,062	5,133,062	5,133,062
Accumulated loss		(12,697,058)	(11,077,793)	(11,719,947)
TOTAL EQUITY		1,631,096	3,192,713	2,441,700
The notes are an integral part of these Unaudited Group Interim Financial Statements.

 

Unaudited Consolidated Statement of Changes in Equity for the Period Ended 31 October 2016

	CALLED UP SHARE CAPITAL	SHARE BASED  PAYMENT RESERVE	ACCUMULATED LOSS	FOREX RESERVE	SHARE PREMIUM RESERVE	MERGER RESERVE	TOTAL EQUITY
	£	£	£	£	£	£	£
Balance as at 30 April 2014	377,029	329,000	(6,546,359)	–	8,515,773	5,133,062	7,808,505
Issue of share capital 8.12	200				143		343
Share based payment reserve release		(40,983)	40,983				–
Income statement			(3,256,005)				(3,256,005)
Other comprehensive income				(18,503)			(18,503)
Balance as at 30 April 2015	377,229	288,017	(9,761,381)	(18,503)	8,515,916	5,133,062	4,534,340
Issue of share capital 8.10	1,600		–		1,144		2,744
Share based transaction		37,467					37,467
Share based payment reserve release		(159,377)	159,377				–
Income statement			(2,117,943)				(2,117,943)
Other comprehensive income				(14,908)			(14,908)
Balance as at 30 April 2016	378,829	166,107	(11,719,947)	(33,411)	8,517,060	5,133,062	2,441,700
Income statement			(981,665)				(981,665)
Share based transaction		90,385					90,385
Share based payment reserve release		(4,554)	4,554				–
Other comprehensive income				80,676			80,676
Balance as at 31 October 2016	378,829	251,938	(12,697,058)	47,265	8,517,060	5,133,062	1,631,096
The notes are an integral part of these Unaudited Group Interim Financial Statements.

 

Unaudited Consolidated Statement of Cash Flowsfor the Period Ended 31 October 2016

	Unaudited	Unaudited	Audited
	6  months ended	6 months ended	Year ended
	31-Oct-16	31-Oct-15	30-Apr-16
	£	£	£
Cash flows used in operating activities
Cash generated from operations	(1,265,202)	(2,069,397)	(3,055,063)
Finance costs paid	–	–	–
Corporation tax received	–	–	221,960
Other comprehensive Income	80,676	(25,215)	(14,908)
Net cash used in operating activities	(1,184,526)	(2,094,612)	(2,848,011)
Cash flows used in investing activities
Purchase of intangible fixed assets		–	–
Purchase of property, plant and equipment	(7,448)	(2,766)	(8,622)
Interest received	14,755	1,023	–
Net cash used in investing activities	7,307	(1,743)	(8,622)
Cash flows generated from financing activities
New loans in year	–	–	–
Repayment of Borrowings	–	–	–
Proceeds from share issuance	–	–	2,744
Costs of share issuance	–	–	–
Net cash generated from financing activities	–	–	2,744
(Decrease)/increase in cash and cash equivalents	(1,177,219)	(2,096,355)	(2,853,889)
Cash and cash equivalents at beginning of period	1,858,841	4,712,730	4,712,730
Cash and cash equivalents at end of period	681,622	2,616,375	1,858,841

 

The reconciliation of loss before income tax to cash generated from operations is shown overleaf. The notes are an integral part of these Unaudited Group Interim Financial Statements.

RECONCILIATION OF LOSS BEFORE INCOME TAX TO CASH GENERATED FROM OPERATIONS

		Unaudited	Unaudited	Audited
		Period ended	Period ended	Year ended
		31-Oct-16	31-Oct-15	30-Apr-16
	Notes	£	£	£
Loss before income tax		(1,081,665)	(1,316,412)	(2,374,821)
Share based payments		90,385	–	37,467
Depreciation charges	4	22,246	27,265	55,274
Loss on disposal of fixed assets		–	–	–
Amortisation charges	4	–	–	–
Finance income		(14,755)	(1,023)	–
		(983,789)	(1,290,170)	(2,282,080)
Increase in trade and other receivables		(153,397)	(407,386)	(703,774)
Increase in trade and other payables		(128,016)	(371,841)	(69,209)
Cash generated from operations		(1,265,202)	(2,069,397)	(3,055,063)
The notes are an integral part of these Unaudited Group Interim Financial Statements.

 

RECONCILIATION OF LOSS BEFORE INCOME TAX TO CASH GENERATED FROM OPERATIONS

		Unaudited	Unaudited	Audited
		Period ended	Period ended	Year ended
		31-Oct-16	31-Oct-15	30-Apr-16
	Notes	£	£	£
Loss before income tax		(1,081,665)	(1,316,412)	(2,374,821)
Share based payments		90,385	–	37,467
Depreciation charges	4	22,246	27,265	55,274
Loss on disposal of fixed assets		–	–	–
Amortisation charges	4	–	–	–
Finance income		(14,755)	(1,023)	–
		(983,789)	(1,290,170)	(2,282,080)
Increase in trade and other receivables		(153,397)	(407,386)	(703,774)
Increase in trade and other payables		(128,016)	(371,841)	(69,209)
Cash generated from operations		(1,265,202)	(2,069,397)	(3,055,063)
The notes are an integral part of these Unaudited Group Interim Financial Statements.

Notes to the Unaudited Group Interim Financial Statements for the six months ended 31 October 2016

1. Nature of operations and general information
The principal activity of the Company and its subsidiaries (together the Group) is the provision of data analytics using a proprietary platform.

Rosslyn Data Technologies plc is the group’s ultimate parent company. It is incorporated and domiciled in the UK. The registered office of the Company is Fox Court, Gray’s Inn Road, London WC1X 8HN, which is also the principal place of business for its UK based operating subsidiary, Rosslyn Analytics Limited.

Rosslyn Data Technologies plc’s shares are listed on AIM, a market operated by the London Stock exchange. This consolidated unaudited half-yearly report was approved by the Board of Directors on xx January 2017.

The financial information set out in this half-yearly financial report does not constitute statutory accounts as defined in Sections 434(3) and 435(3) of the Companies Act 2006. The Group’s statutory financial statements for the year to 30 April 2016 have been filed with the Registrar of Companies and are available at www.rosslyndatatechnologies.com. The auditors’ report on those financial statements was unqualified and did not contain any statement under Section 498(2) or Section 498(3) of the Companies Act 2006.

2. Basis of preparation
The financial information presented in this document has been prepared in accordance with the recognition and measurement principles of International Financial Reporting Standards (IFRS) and International Financial Reporting Interpretations Committee (IFRIC) interpretations that are expected to be applicable for the year ending 30 April 2017. The principal accounting policies used in preparing these Interim Results are unchanged from those adopted and disclosed in the audited financial statements for the year ended 30 April 2016.

The financial information in this statement relating to the six months ended 31 October 2016 has neither been audited nor reviewed pursuant to guidance issued by the Auditing Practices Board. The financial information for the period ended 31 October 2016 does not constitute the full statutory accounts for that period. The financial information in this statement relating to the six months ended 31 October 2015 has not been audited and does not constitute full statutory accounts for that period. The Annual Report and Financial Statements for 2016 have been filed with the Registrar of Companies. The Independent Auditor’s Report on the Annual Report and Financial Statements for 2016 was unqualified, did not draw attention to any matters by way of emphasis, and did not contain a statement under 498(2) or 498(3) of the Companies Act 2006.

3. Accounting policies
The accounting policies applied are consistent with those of the annual financial statements for the year ended 30 April 2016.

4. Segmental Reporting
All segment revenue, loss before taxation, assets and liabilities are attributable to the principal activity of the Group being the provision of data analytics using a proprietary form and other related services.

	6 month period ended 31 October 2016
	UK	USA	Total
	£	£	£
Income
Total revenue	1,198,223	468,354	1,666,577
Total revenue from external customers	1,198,223	468,354	1,666,577
EBITDA	(1,265,221)	191,047	(1,074,174)
Depreciation	(21,866)	(380)	(22,246)
Amortisation	–	–	–
Operating loss	(1,287,087)	190,667	(1,096,420)
Finance income	14,755	–	14,755
Loss before income tax	(1,272,332)	190,667	(1,081,665)
Total assets	2,546,410	591,685	3,138,095
Total liabilities	(1,346,537)	(160,462)	(1,506,999)
Capital expenditure during the year
Intangible assets	–	–	–
Property, plant and equipment	7,448	–	7,448

The EBITDA by segment excludes the management recharge, which is recorded annually.

	6 month period ended 31 October 2015
	UK	USA	Total
	£	£	£
Income
Total revenue	1,323,029	498,488	1,821,517
Total revenue from external customers	1,323,029	498,488	1,821,517
EBITDA	(1,404,870)	114,700	(1,290,170)
Depreciation	(27,265)	–	(27,265)
Amortisation	–	–	–
Operating loss	(1,432,135)	114,700	(1,317,435)
Finance income	1,023		1,023
Loss before income tax	(1,431,112)	114,700	(1,316,412)
Total assets	3,982,140	542,956	4,525,096
Total liabilities	(1,119,794)	(212,589)	(1,332,383)
Capital expenditure during the year
Intangible assets	–	–	–
Property, plant and equipment	2,766	–	2,766

 

	Year ended 30 April 2016
	UK	USA	Total
	£	£	£
Income
Total revenue	2,871,671	997,379	3,869,050
Total revenue from external customers	2,871,671	997,379	3,869,050
EBITDA	(2,169,041)	(161,564)	(2,330,605)
Depreciation	(55,021)	(253)	(55,274)
Amortisation	–	–	–
Operating loss	(2,224,062)	(161,817)	(2,385,879)
Finance income	11,058	–	11,058
Loss before income tax	(2,213,004)	(161,817)	(2,374,821)
Total assets	3,434,002	642,713	4,076,715
Total liabilities	(1,444,175)	(190,840)	(1,635,015)
Capital expenditure during the year
Intangible assets	–	–	–
Property, plant and equipment	7,481	1,141	8,622

 

5. Basic and diluted loss per share
Basic earnings per share is calculated by diving the net loss for the period attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period.

	Unaudited	Unaudited	Audited
	Period ended	Period ended	Year ended
	31-Oct-16	31-Oct-15	30-Apr-16
	£	£	£
Loss for the period attributable to the owners of the parent	(900,989)	(1,316,412)	(2,132,851)
Weighted average number of ordinary shares	75,765,814	75,445,814	75,602,746
	Pence	Pence	Pence
Basic and diluted loss per share: ordinary shareholders	1.19	1.74	2.82

Diluted earnings per share is calculated by dividing net profit for the period attributable to ordinary shareholders outstanding during the period plus the weighted average number of ordinary shares that would be issued on the conversion of all dilutive potential ordinary shares into ordinary shares.

Earnings per share has been calculated in accordance with IAS 33.

6. Principal risks and uncertainties
The principal risks and uncertainties for this 6 month period remain broadly consistent with those set out in the Financial Review section of the financial statements of the Group for the year ended 30 April 2016.

This information is provided by RNS

The company news service from the London Stock Exchange

Placing to raise £600,000

Keras Resources plc, the Australian gold mining company, is pleased to announce that it has raised £600,000 (before expenses) through the placing of 171,428,571 ordinary shares of 0.1p each (‘Ordinary Shares’) at a placing price of 0.35p per Ordinary Share (the ‘Placing Shares’) to new and existing shareholders (the ‘Placing’). The Placing Shares represent approximately 10.6% of the Company’s issued share capital as enlarged by the Placing.

Proceeds of the Placing will support ongoing exploration and development works at the Company’s 100% owned, flagship Klondyke Gold Project (‘Klondyke’ or the ‘Project’) in the East Pilbara District of Western Australia, which has a current resource estimate of 5.6Mt at 2.08g/t Au for 374,000oz with significant further upside potential indicated. Funds will also be used to retire 12-month loan notes secured in February 2016 (see announcement dated 1 February 2016 for further detail) and for general working capital purposes as the Company continues to finalise plans for a potential listing on the Australian Stock Exchange (‘ASX’). Further details regarding the Company’s proposed ASX listing will be provided in due course.

Keras Managing Director Dave Reeves said, “We are finalising plans for a potential listing on the ASX, which will support our current London listing whilst reflecting our growing operational presence in Australia as we continue to advance our flagship Klondyke Gold Project and regional asset portfolio. The funds raised will enable the Company to retire some short term debt and ensure the continued advancement of Keras’ growth plans and I would like to thank investors for their support. We are excited about the opportunities ahead and look forward to updating the market on future developments; the current environment for gold is positive and investor appetite for projects such as ours appears evident. Alongside this, we remain confident that our Nayega Manganese Project in Togo, West Africa, could deliver significant upside and remain optimistic of its development potential.”

Details of the Placing
The gross proceeds of the Placing will be received in two tranches:

• £300,000 within five working days of the date of the transaction; and
• £300,000 within ten working days of the date of the transaction.

Application has been made for admission of the 171,428,571 Placing Shares to trading on the AIM Market of the London Stock Exchange (‘Admission’). It is anticipated that Admission of the first tranche of 85,714,285 shares will take place on 2 February 2017 and Admission of the second tranche of 85,714,286 shares will take place on 9 February 2017. The Placing Shares will rank pari passu with the existing Ordinary Shares, which are currently traded on AIM.

Following Admission, there will be 1,619,398,194 Ordinary Shares in issue with each share carrying the right to one vote. There are no shares currently held in treasury. The total number of voting rights in the Company will therefore be 1,619,398,194 and this figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure Rules and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

**ENDS**

For further information please visit www.kerasplc.com, follow us on Twitter @kerasplc or contact the following:

Dave Reeves | Keras Resources plc | dave@kerasplc.com
Nominated Adviser
Gerry Beaney/David Hignell | Northland Capital Partners Limited | +44 (0) 20 3861 6625
Broker
Elliot Hance/Jonathon Belliss | Beaufort Securities Limited | +44 (0) 20 7382 8415
Financial PR
Susie Geliher/Charlotte Page | St Brides Partners Limited | +44 (0) 20 7236 1177

 

Notes
Keras Resources plc is AIM’s only Australian gold mining company. Keras has a portfolio of owner-operated gold interests and cash generative joint venture gold projects. The Company’s strategy is focussed on advancing its owner-operator gold interests towards production whilst concurrently identifying and assessing low risk, high margin joint venture operations to enable continuing cash flows. The Company benefits from an experienced management team, which has extensive gold experience and is based in Perth, reducing execution risk.

Gold Projects
Klondyke Project Area – 100% owned gold development project in Western Australia

· Current resource of 5.6Mt at 2.08g/t gold (‘Au’) for 374,000oz confined to just 2km of the main 7.5km shear strike

· Right to mine contiguous Haoma tenements covering 650 hectares with excellent discovery potential

· Active growth strategy – continue to assess additional opportunities in the project area to add contiguous lease areas to the critical mass that has been consolidated

Tribute Gold Projects

Keras has a portfolio of tribute mining agreements in the Kalgoorlie Goldfield, Australia and is targeting 20,000-30,000oz gold per annum from these assets.

Wider Portfolio

Keras is currently awaiting a mining permit for its Nayega Manganese Project in Togo. Once received it will look to develop the asset into a low-cost export mining operation.

This information is provided by RNS

The company news service from the London Stock Exchange

HORIZONTE APPOINTS FEASIBILITY STUDY MANAGER FOR ARAGUAIA NICKEL PROJECT

Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) (‘Horizonte’ or ‘the Company’) the nickel development company focused in Brazil, is pleased to announce that it has appointed Wagner Lucio Oliveira to a non-board position as its Feasibility Study Manager (‘FS Manager’) for the Company’s 100% owned Araguaia nickel project (‘Araguaia’ or ‘the Project’) which is being developed as the next major nickel project in Brazil.

Wagner brings with him a wealth of nickel experience having worked with Anglo American plc at its Barro Alto ferronickel mine in Brazil on its engineering, construction and start-up between 2007 to 2010. He is skilled in a wide range of technical areas including smelter technology, refining, processing, performance management, plant operations, project management and capital cost rationalisation. In addition to his nickel experience, Wagner has built a diverse skillset from work undertaken with other major companies such as Rio Tinto, Vale and most recently McKinsey & Company in Chile and Peru. Wagner has significant experience in the controlled planning, scheduling and operational readiness of large-scale projects and a proven track record in delivering on operational improvement and cost reductions.

Horizonte CEO Jeremy Martin said, “We are delighted to welcome Wagner to Horizonte as the Feasibility Manager to run the study on the Araguaia nickel project. He will be key as we work through the selection process to award the contracts for the Feasibility Study henceforth, in managing the study to deliver it on time and budget. Wagner has considerable experience in nickel having worked with Anglo American plc on its Barro Alto ferro nickel operation and prior to this at the Codemin ferro nickel plant in Brazil. We welcome Wagner to the team and believe his experience will be invaluable as we move into the next phase of project development.”

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

* * ENDS * *

For further information visit www.horizonteminerals.com or contact:

Jeremy Martin  |  Horizonte Minerals plc  |  Tel: +44 (0) 20 7763 7157
David Hall  |  Horizonte Minerals plc  |  Tel: +44 (0) 20 7763 7157
Emily Morris  |  finnCap Ltd (Corporate Broking)  |  Tel: +44 (0) 20 7220 0500
Christopher Raggett  |  finnCap Ltd (Corporate Finance)  |  Tel: +44 (0) 20 7220 0500
James Thompson  |  finnCap Ltd (Corporate Finance)  |  Tel: +44 (0) 20 7220 0500
Anthony Adams  |  finnCap Ltd (Corporate Finance)  |  Tel: +44 (0) 20 7220 0500
Damon Heath  |  Shard Capital  (Joint Broker)  |  Tel: +44 (0) 20 7186 9952
Erik Woolgar  |  Shard Capital (Joint Broker)  |  Tel: +44 (0) 20 7186 9952
Lottie Brocklehurst  |  St Brides Partners Ltd (PR)  |  Tel: +44 (0) 20 7236 1177
Elisabeth Cowell  |  St Brides Partners Ltd (PR)  |  Tel: +44 (0) 20 7236 1177

About Horizonte Minerals:
Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil, which wholly owns the advanced Araguaia nickel laterite project located to the south of the Carajas mineral district of northern Brazil. The Company is developing Araguaia as the next major nickel mine in Brazil, with targeted production by 2019.

The Project has good infrastructure in place including rail, road, water and power.

Horizonte has a strong shareholder structure including Teck Resources Limited 17.9%, Henderson Global Investors 14.11%, Richard Griffiths 13.8%, JP Morgan 8.98%, Hargreave Hale 6.84% and Glencore 6.4%%.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the potential of the Company’s current or future property mineral projects; the success of exploration and mining activities; cost and timing of future exploration, production and development; the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; and the realization of mineral resource and reserve estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: exploration and mining risks, competition from competitors with greater capital; the Company’s lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company’s future payment obligations; potential disputes with respect to the Company’s title to, and the area of, its mining concessions; the Company’s dependence on its ability to obtain sufficient financing in the future; the Company’s dependence on its relationships with third parties; the Company’s joint ventures; the potential of currency fluctuations and political or economic instability in countries in which the Company operates; currency exchange fluctuations; the Company’s ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company’s plans to continue to develop its operations and new projects; the Company’s dependence on key personnel; possible conflicts of interest of directors and officers of the Company, and various risks associated with the legal and regulatory framework within which the Company operates.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

This information is provided by RNS

The company news service from the London Stock Exchange

WideCells Group PLC (‘WideCells Group’ or ‘the Company’) Secures two LOIs for roll-out of CellPlan and launch of new medical advisory product

WideCells Group PLC, the healthcare services company focused on providing stem cell services and ground breaking insurance for stem cell treatment, is pleased to provide an update on the continued commercialisation of its 100% owned subsidiary CellPlan Limited (‘CellPlan’), which has developed the world’s first stem cell healthcare insurance plan and medical concierge service. Having recently secured a maiden definitive agreement with Biovault Technical Ltd, the UK’s largest private human tissue storage facility (‘Biovault’), to roll-out CellPlan to Biovault’s significant customer base (see announcement dated 9 January 2017), the Company is delighted to have signed two further non-binding Letter of Intent (‘LOI’) agreements to support the continued roll-out of CellPlan globally. The Company has also developed a new commercial CellPlan product, YOUR EXPERT CONSULTATION, further bolstering CellPlan’s innovative service offering and creating a new revenue opportunity.

Highlights

• CellPlan signed two new LOIs to offer its revolutionary stem cell healthcare insurance plan and services to:
  • Jointly, the specialist cord blood storage and processing facilities in Brazil have a customer base of over 5,000 high-net-worth clients
• CellPlan’s insurance plan will cover the cost of medical treatment for clients using stem cells stored by the storage facilities and their affiliates
• LOIs, once binding definitive agreements, will enable CellPlan to target a new global market, creating new revenue opportunities
• Launch of new CellPlan product, YOUR EXPERT CONSULTATION, an expert medical opinion service
  • Supported by a global leader in expert medical opinion, YOUR EXPERT CONSULTATION provides clients with access to the best medical minds in the stem cell industry, ensuring patients get the right diagnosis and are prescribed the best treatment
  • Available both as a standalone product and as part of the broader end-to-end CellPlan insurance plan
  • Low-entry price point
  • Product launch in response to proven demand from major global cord blood storage facilities
  • Supports greater market penetration – cord blood storage facilities able to sell the consultation service directly to their clients with opportunity to upsell CellPlan insurance policy, which provides financial cover for stem cell treatment

WideCells Group CEO, João Andrade, said, “We launched CellPlan, the world’s first global stem cell healthcare plan, less than a year ago, in May 2016, having identified a critical need for financial and medical support within the rapidly advancing stem cell industry. Having successfully secured a definitive agreement with the UK’s largest private human tissue storage facility, Biovault, which will enable the sale and roll-out of CellPlan to Biovault’s significant customer base, we are delighted to have signed additional potential sales agreements with two reputable cord blood storage facilities in Brazil. These initial LOI agreements, which we look forward to converting into definitive sales agreements, mark a further notable step in the commercialisation of CellPlan, providing exposure to a new global region with strong growth prospects; the Brazilian cord blood banking market is projected to be worth US$445 million by 2023, the largest in South America’s booming stem cell industry.

“Alongside CellPlan’s roll-out, and as part of our ongoing discussions with cord blood storage facilities, we have identified a strong demand for our innovative medical consultation service to be offered as part of our comprehensive CellPlan healthcare plan, but also as a standalone product. Accordingly, we have created, YOUR EXPERT CONSULTATION; a specialist medical opinion service, which provides clients with access to the best medical minds. With a low-entry price point, and a number of major global cord blood storage facilities showing their interest in this product, we believe the launch of this consultation service will not only create a new revenue stream for the Company, but also bolster sales opportunities for CellPlan. We look forward to the exciting opportunities ahead.”

**ENDS**

For further information, please visit the Company’s website www.widecellsgroup.com, follow us on Twitter @WideCells_Group or contact:

WideCells Group | CEO – João Andrade | Tel: +351 919 033 171
Vicarage Capital Ltd | Broker – Jeremy Woodgate & Rupert Williams | Tel: +44 (0) 20 3651 2912
Shard Capital Partners LLP | Broker – Damon Heath & Erik Woolgar | Tel: +44 (0) 207 186 9950
St Brides Partners Ltd | PR – Elisabeth Cowell & Charlotte Page | Tel: +44 (0) 20 7236 1177

Notes to Editors

WideCells Group PLC is building an integrated stem cell services company, focused on making stem cell treatments accessible and affordable. The Directors believe that the use of cord blood stem cells for transplant will drive one of the next important phases in medicine and is therefore developing market leading products in complementary, strategic areas which are designed to take advantage of substantial market opportunities in one of the fastest growing segments in the healthcare industry. With this in mind, it has created three divisions:

• CellPlan: the world’s first stem cell healthcare insurance plan with financial cover for medical treatment, travel and accommodation expenses and concierge service to manage the treatment process
• WideCells: the Institute of Stem Cell Technology has been established and is based in the University of Manchester Innovation Center to focus on stem cell research and regenerative medicine. WideCells also has international cryogenics divisions specialising on stem cell storage.
• WideAcademy: developing an education and training division to promote awareness of the benefits of stem cell storage across the global general practice community.

The Group has built an experienced senior management team that has been integral to the development of its growth and business to date.

Stem Cell Fast Facts:

• Cord blood (which is taken from the umbilical cord) provides the most effective source of stem cells for families due to it being simple, safe and painless to collect relative to other sources of stem cells such as bone marrow – WideCells will focus on promoting the collection and storage of this.
• Since 2005, there has been a 300% increase in the number of illnesses that can be treated using stem cells
• 82 illnesses can currently be treated using stem cell procedures
• Despite initial storage often costing no more than a few £thousand, actual treatment can cost in the £hundreds of thousands

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR).

This information is provided by RNS

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