Company News
Path Investments to float on London Stock Exchange on Thursday
Path Investments is to float on the London Stock Exchange on 30 March as the energy investor bids to capitalise on the downturn in the price of oil.
Strategic Equity shareholders request general meeting
Strategic Equity Capital noted a press comment over the weekend on Monday, and confirmed that it received a request to requisition a general meeting from two of its shareholders, Ian Armitage and Growth Financial Services - a subsidiary of Harwood Capital Management - representing 5. 02% of the company’s issued share capital.
Hurricane Energy claims UK's 'largest' undeveloped offshore oil discovery
Hurricane Energy reported an oil discovery from exploratory drilling near to the Lancaster field, which the company believes is part of the largest undeveloped discovery on the UK continental shelf.
NMBZ revenue and earnings fall as it broadens product offer
Zimbabwe-based commercial bank NMBZ Holdings posted its audited consolidated results for the year to 31 December on Monday, with total income falling to $51. 5m from $59. 4m.
Cobham being probed by FCA
FTSE 250 aerospace and defence group Cobham has been referred to the Financial Conduct Authority's enforcement division for investigation in connection with its handling of inside information prior to its trading update and announcement of a rights issue on 26 April 2016.
Bioventix earnings surge thanks to sterling
High-affinity antibody developer and supplier Bioventix announced its unaudited interim financial results for the six months to 31 December on Monday, with turnover rising 32% period-on-period to £3. 12m.
Schlumberger and Weatherford create North American JV
Oil services companies Schlumberger and Weatherford announced an agreement on Monday to create OneStim - a joint venture to deliver completions products and services for the development of unconventional resource plays in the United States and Canada land markets.
Quadrise stable as it develops MSAR fuel product
Emerging supplier of ‘MSAR’ emulsion technology and fuel Quadrise Fuels International announced its interim results for the six months to 31 December on Monday - a period in which it raised £5. 25m through a placing and open offer of new ordinary shares in November.
Premier African Minerals raises £2m to invest in lithium mines
AIM-listed Premier African Minerals has raised £2m form an oversubscribed share placing to fund develop at its lithium and limestone mines.
GLI Finance to increase stake in Sancus IOM Holdings
AIM-listed investor GLI Finance has agreed to buy an additional 2. 1% stake in Sancus IOM Holdings, which finances small-medium sized enterprises, for £163,331.
Mercantile Ports & Logistics to develop facility at Mumbai port
Mercantile Ports & Logistics is to develop a facility at its port in Mumbai, India with an engineering and logistics project company.
ITM Power sells electrolyser and hydrogen energy equipment
Shares in ITM Power surged on Monday after the clean energy storage company announced it had sold some equipment and that it has a pipeline of potential revenue worth nearly £25m.
South32 announces $500m share buyback
Mining and metals company South32 has announced plans to return an additional $500m to shareholders, or around 4. 5% of its current market capitalisation.
Tullow Oil's risk and rewards 'roughly balanced' says Goldman Sachs
Goldman Sachs upgraded Tullow Oil to ‘neutral’ from ‘sell’ and lowered its target price to 200. 6p from 207. 4p, as it sees the company having a more balanced risk and reward following a rights issue.
FirstGroup consortium wins UK's South Western rail franchise
FirstGroup has won the seven-year contract from the UK Department for Transport to operate trains on the South Western rail franchise, with rival Stagecoach among those missing out.
European Wealth enters into 12-month loan facility
European Wealth has entered into a £720,000 12-month loan facility at an interest rate of 10%.
Wood Group extends contract with Premier Oil
Energy services firm Wood Group has extended its North Sea contract with explorer Premier Oil for a further two years in a deal worth $50m and which will secure more than 150 jobs.
Elektron Technology completes sale of Digitron
AIM-listed Elektron Technology has completed the sale of the business and assets of Digitron to The British Rototherm Company for a total gross consideration of £300,000 in cash payable on completion, which will be used for working capital purposes.
Greencoat buys Langhope Rig Wind Farm in £40m deal
Greencoat UK Wind announced on Monday that it acquired Langhope Rig Wind Farm from GE unit, GE Energy Financial Services, for a total consideration of £39. 8m.
Old Mutual sells down further stake in OMAM
Old Mutual has struck a deal to offload almost half of its stake in its asset management business for $446m.