Company news

Mining Sector: Tri-Star falls after being advised to further explore Bald Hill project

Tri-Star (LON:TSTR) shares were down in late trading after it received an updated independent Technical Report on the Bald Hill Antimony Project, New Brunswick, that recommended further exploration and investigation. “Such exploration programmes, if undertaken, would aim to establish an Inferred Mineral Resource through additional surface excavation and diamond drilling, including drilling of the already […]

MedicX Fund investment adviser changes name

MedicX Fund confirmed that its investment adviser has changed its name from MedicX Adviser Ltd to Octopus Healthcare Adviser Ltd. This follows the completion of the acquisition by Octopus Investments of the investment adviser to MedicX Fund. There is no change to the name of MedicX Fund or any of its subsidiary companies. At 2:58pm: […]

Avocet monitors unrest in Burkina Faso

Avocet Mining notes the recent unrest in Burkina Faso and says it will continue to monitor events closely as the situation develops. Avocet says its operations at the Inata mine in the north of the country remain unaffected by events at the present time. But it adds: “We are taking all necessary precautions to ensure […]

Cairn India starts polymer injection at Mangala

Cairn India has initiated polymer injection at the Mangala field. Mangala Enhanced Oil Recovery (EOR) project, which is among the largest polymer flood EOR programmes in the world, commences well ahead of the guidance provided by the company. The polymer injection activity would gradually be ramped up. Cairn India had recognised the potential for chemical […]

Balfour Beatty completes sale of Parsons Brinckerhoff

International infrastructure group Balfour Beatty has completed the sale of Parsons Brinckerhoff to WSP Global Inc. The net cash consideration of US$1,242m (£753m) represents a multiple of 11 times underlying EBITDA for the year ended 31 December 2013. Balfour Beatty says the net proceeds – after deductions for transaction taxes, fees and other transactional costs […]

Inland Homes in deferred bonus awards

Inland Homes, the specialist housebuilder and brownfield land developer, has issued shares and cash under the deferred bonus plan for executives’ performance in the year to the end of June. Under the deferred bonus plan, 50% of executive bonuses are settled in ordinary shares with the issue/transfer of such shares deferred for 3 years. Stephen […]

CMA imposes enforcement order

The Competition and Markets Authority has imposed an initial enforcement order under section 72 of the Enterprise Act 2002 to Didix International BV. This order is without prejudice to the CMA’s ongoing investigation into the completed acquisition of Taste Marketing Ltd by Didix International BV. Story provided by

Alpha notes NY ruling in Smart Win-Empire dispute

Alpha Prospects has noted that a New York judge has denied Smart Win’s motion for summary judgment against Empire Energy Corporation International. Alpha Prospects has a 20% interest in Emprie via the holding in Tasmanian Oil and Gas Limited. Alpha said the lawyer acting for Empire, Paul Batista, had issued the following statement: “Justice Jeffrey […]

ELECO software apps for construction industry

ELECO has announced the general availability of its two new offerings – Asta Powerproject BIM and its ELECO BIMCloud collaboration solution. BIM is a process involving the generation and management of digital representations of physical and functional characteristics of place. ELECO is committed to providing innovative BIM solutions to assist construction industry participants to work […]

Eurotunnel outlines barriers to rail freight development

Eurotunnel outlined the five most significant barriers to companies seeking to launch new rail freight services to an audience of rail specialists, in Lille, on 9 October. Eurotunnel said the five most significant barriers are: – Differences in train dimensions: In Italy, the length of trains is limited to 500m, in Spain it is 400m […]

Cherkizovo sales up

Russia meat feedstock producer Cherkizovo reports increased sales in its poultry, pork, meat processing and grain divisions in the first nine months to the year. Sales volume in the poultry division increased by 24% y-o-y to 310 663 tonnes of sellable weight (9M 2013: 251 429 tonnes) including 40,735 tonnes of sellable weight produced by […]

Global continues to appraise new opportunities

Global Petroleum continues to appraise a wide range of potential new opportunities and is expending intensive effort to meet its priority of significantly growing the company’s portfolio. The company summarises its quarterly report for the period ending 30 September as follows: · From 1 July 2014 the company is making its financial reporting currency in […]

Intu signs new £600m revolving credit facility

ntu Properties has put in place a new corporate £600m revolving credit facility. This replaces the existing £375m facility that was due to expire in November 2018. The new RCF has been provided by seven banks including all the providers of the current facility being Bank of America Merrill Lynch, Credit Suisse, HSBC, Lloyds Banking […]

Eltek weighs options, including potential sale

Eltek’s board is evaluating strategic options for the future development of the company, including a potential sale. The strategic review is intended to further enhance Eltek’s competitive position and to maximise shareholder value. Eltek has been in contact with certain parties with respect to this process. Over recent years, Eltek has successfully completed a strategic […]

GPE signs news £450m revolving credit facility

Great Portland Estates has signed a new £450m unsecured revolving credit facility with a group of seven relationship banks. The facility has an initial five year term which may be extended to a maximum of seven years at GPE’s request, subject to bank consent. The facility has a headline margin of 105 basis points over […]

Altmann welcomes rise in pension saving

New figures which show that auto-enrolment has reversed the decline in pension saving have been welcomed by the government’s business champion for older workers, Ros Altmann. She said that the latest ONS data for pension scheme membership show that after years of decline, there was a rise in the numbers of people contributing to pension […]

Arian Silver restructures Quintana loan note

Arian Silver Corporation has obtained conditional approval from the TSX Venture Exchange to restructure the existing note with Quintana AGQ Holding Co. Arian Silver says it has, accordingly, issued to Quintana by private placement, a US$16,452,343 senior secured convertible note and 12,151,926 common share purchase warrants. The note replaces a previously issued US$15,585,000 principal amount […]

Globalworth closes €30m debt facility for TCI

Globalworth, the real estate investment company targeting opportunities principally in Romania, has closed a €30m debt financing facility for Tower Center International, its landmark office tower located in the heart of Bucharest’s central business district. Globalworth says Banca Comerciala Romana (BCR), a member of Erste Group, has provided the debt financing facility to TCI, which […]

Avation schedules AGM

Avation will hold its annual general meeting at 510 Thomson Road, #12-04 SLF Building, Singapore 298135 on 24 November at 10 a.m. (UK time). At 4:27pm: (LON:AVAP) Avation Plc share price was +2p at 150p Story provided by

Friends Life completes Lombard disposal

Friends Life has completed the disposal of Lombard International Assurance SA and Insurance Development Holdings AG to funds managed by Blackstone. The total consideration of £316m comprises £254m upfront consideration, £6m interest equivalent, both paid in cash, and £56m deferred payment in the form of a vendor loan note (subject to adjustment). As expected, the […]

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