Gable Holdings, a non-life insurance company, has reported that its performance in the second half, considering the traditional cyclicality of certain of our products, was in line with expectations. In the UK, the ATE product showed strong growth and which has continued into 2012, while construction as a whole was in line with management's expectations. The firm's residential Tenant Deposit scheme in Norway continued to grow as anticipated, which gives Gable a platform to launch this product in other territories such as Germany. A strong first half is expected for 2012, the group said.
Digital television technology provider Motive Television has placed over 366.6m shares at 0.15p each, raising a total of £0.55m before expenses. The proceeds will be used to fund the firm's growth in global markets and provide working capital.
Oxford BioMedica, a gene-based biopharmaceutical company, has announced that Cubana Investments, which held around 131.95m shares in the firm, has been acquired by Vulpes Life Sciences Fund. Consequently, Vulpes now owns the shares, which equate to 13.96% of Oxford BioMedica.
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Stagecoach Theatre Arts has reached an agreement with Lifeskills Education over the terms of a recommended cash offer to be made by the latter for Stagecoach, at 65p per share. This price is at a 66.67% premium to the closing price of 39p on March 8th and values the firm at around £6.5m on a fully diluted basis. Graham Cole, Chairman of Stagecoach, said the offer "represents an opportunity for Stagecoach shareholders to achieve an immediate cash exit for their shareholding at a significant premium to the company's recent share price".
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