Earlier this month Motive Television exercised its right to purchase CCAN's 32.3 per cent ownership in Motive Television for 70,116 euros, equal to 10 cents per share. Since then, Motive has received an exercise notice granted to CCAN on September 17th 2010, under which Motive granted CCAN a put option to require the company to purchase the whole of CCAN's retained shareholding in Motive Television, representing the remaining 32.3 per cent of the company's issued share capital, at any time after the 18 month anniversary of completion of the acquisition by Motive of Adecq Digita. Following legal advice Motive has stated that the notice is invalid and so will continue to require that CCAN transfers its shares in Motive Television by the end of this month.
Clean Air Power, which develops combustion technology that enables heavy-duty diesel engines to operate on a combination of diesel and natural gas, has reported encouraging trading during the furst half of the financial year, with revenues significantly ahead of the prior year. During the first six months of the current financial year, revenues were £3.9m (2011:£2.1m) with over 100 systems (2011: 37 systems) being delivered during the period. The company has now had a total of 250 orders during 2012 for both the Genesis EDGE system and European OEM product. The firm said it is confident of the outlook going into the second half of the financial year, with a clear strategy for the North American market both in the short and medium term.
1pm, a provider of lease asset finance to the SME sector, has posted a 21% rise in revenues to £2.31m for the year ended May 31st 2012 (2011: £1.91m), with pre-tax profits of £0.44m (2011: £0.20m), the highest ever levels of both. Cash at the end of the year fell from £0.094m to £0.061m year-on-year. The lease portfolio increased from £10.1m to £11.0m year on year, while the number of customers increased 25% during the year to 1,881 from 1,503 the year before.
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Minoan, which owns and operates a number of travel agencies, has announced that vendors of John Semple Travel, which Minoan has acquired, have opted to receive just over 2.86m ordinary shares at 12p each to settle a loan of £320,000, plus accrued interest. Minoan is also issuing 1,111,120 ordinary shares at 12.5p per share in accordance with an existing convertible loan agreement. The firm also announced that it has completed the acquistion of the remaining interest in Stewart Travel Centre.
SpaceandPeople, a retail, promotional and brand experience specialist, is pleased to announce it has signed contracts with Capital Shopping Centres Group, the developer, owner and manager of UK regional shopping centres, to manage and sell promotional space in the majority of their shopping centres. The agreement, which became effective on July 14th, covers 11 venues, including Lakeside in Thurrock and the Metro Centre in Gateshead, in addition to The Arndale Centre in Mannchester and Cribbs Causeway in Bristol which are already under contract with SpaceandPeople.
2ergo Group, a mobile solutions company, has signed a partnership with mxData to integrate TikTap, 2ergo's contactless coupon redemption technology, into TubeMap, the official licensed Transport for London tube map application. The combination means that users of the TubeMap application will be able to make use of money-off vouchers and coupons by passing their smartphone over a special pod at point of sale. 2ergo plans to roll out the first phase of its pod infrastructure to merchants across London over the next four to six months. It will accrue a one-off fee for each installed pod and recurring revenues from monthly licence fees per pod, as well as consumer transaction fees.
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