Craven House Capital has agreed to purchase 490 shares in Ceniako, equal to 49 per cent of Ceniako's total issued share capital, from its owner. The shares are being bought at around 2,040 euro per share, equal to a total of one million euro. Ceniako's owner will subscribe for 62.89m new ordinary shares in Craven for 1.25p per share, thereby raising the necessary one million euro. Ceniako is a Cypriot holding company, whose sole asset, held indirectly through a 100% owned Brazilian subsidiary, is 1,967 hectares of productive agricultural land with significant development potential. The transaction marks Craven's first investment in Brazil.
Technology firm OMG has luanched Autographer, its intelligent, wearable camera, which is also the first product to be developed under the company's consumer division, OMG Life. The camera is based on the same Microsoft 'SenseCam' technology already deployed within OMG's 'Revue' camera, which is targeted at the medical research market. "Autographer represents a further example of OMG's ability to transfer core imaging technologies across the group and open them up to new and exciting end markets," the firm said.
AEC Eduction delivered a pre-tax loss of £0.67m during the half year period, compared to a profit of £0.298m the same period the previous year. This mainly reflected losses of £0.939m incurred by UK operations, including restructuring & investment in new colleges in Dublin and Oman. Revenue for the period increased marginally, from £8.926m to £8.979m. The period delivered a loss per share of 1.2p (2011: earnings per share of 0.54p). Net cash at the period end was £2.90m (2011: £3.19m).
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