Economic and Market News for 2 September 2019
-
02 Sep
15:14Hurricane Energy achieves positive early output rates from UK projectHurricane Energy said output levels from its Lancaster early production system in the UK were above its expectations. The company said it had achieve an average production rate of around 14,400...
-
02 Sep
14:35Europa Metals completes test hole at Toral project in SpainEuropa Metals said it had completed the drilling of a new test hole at the Toral-lead-zinc-silver project in northern Spain. An entire core sampled from the 'daughter hole' had been sent for...
-
02 Sep
14:30Seeing Machines wins supply contract for driver monitoring technologyComputer vision technology company Seeing Machines said it had been selected by an equipment supplier to provide its driver monitoring platform to an existing European client. The technology would...
-
02 Sep
14:1621st Century Technology wins contract from East Sussex County CouncilPassenger transport market software provider 21st Century Technology said it had won a contract for East Sussex County Council. The agreement, for the supply, installation and support of real-time...
-
02 Sep
14:12Karelian Diamonds decries 'vexatious' second attempt to roll boardFinland-focused Karelian Diamonds said it had received a request for an extraordinary general meeting from several investors attempting to roll its board, just weeks after their previous attempt...
-
02 Sep
14:02Botswana Diamonds identifies drilling targets at Thorny River play in South AfricaBotswana Diamonds said it had identified what it believed to be kimberlite pipes, buried at shallow depth, at its Thorny River project in South Africa. The targets, identified by geophysical work,...
-
02 Sep
13:54Altyn books loss as equipment breakdowns crimp salesGold miner Altyn booked a first-half loss after equipment breakdowns hurt production volumes. Pre-tax losses for the six months through June amounted to $603k, compared to a profit of $603k...
-
02 Sep
13:31Amiad Water Systems mulls share placement to FIMI Opportunity FundsWater treatment and filtration company Amiad Water Systems said it was in talks about a potential share placing to current shareholder FIMI Opportunity Funds. 'The discussions have not yet...
-
02 Sep
13:14Edenville Energy makes further loan repayment to Lind PartnersEdenville Energy, which is developing the Rukwa coal project in Tanzania, said it had made a second cash payment under a funding agreement with Lind Partners. The $51k payment was made on Friday...
-
02 Sep
13:11President Energy sees no material impact from Argentina currency controlsPresident Energy said it did not expect the introduction of currency controls in Argentina to have any adverse material effect on its business. The government on Sunday revealed controls aimed at...
-
02 Sep
10:00Metal Tiger agrees to acquire 15% of Australian miner CobreMetal Tiger said it had agreed to acquire shares in Western Australia-focused miner Cobre for around A$0.5m. The purchases would representing about 15% of Cobre's enlarged issued share capital....
-
02 Sep
09:54Smurfit Kappa to issue €500m of corporate bondsPackaging company Smurfit Kappa said it would offer €500m of euro-denominated senior notes due in 2027. The funds would be used, along with cash holdings, to redeem in full senior floating-rate...
-
02 Sep
09:47Sequoia Economic Infrastructure to raise capital to cut debt; fund dealsEconomic infrastructure debt investor Sequoia Economic Infrastructure Income Fund said it planned to launch a share issue, to cut debt and increase headroom for acquisitions. The company said it...
-
02 Sep
09:41Distil teams up with Franklin & Sons to launch new rum and cola drinkAlcoholic drinks maker Distil said it had launched ready-to-drink RedLeg Spiced Rum and 1886 Cola in collaboration with Franklin & Sons, the premium soft drink, tonic and mixer brand....
-
02 Sep
09:36Faron Pharmaceuticals cancer drug trial results to be presented at European Society of Medical Oncology 2019 CongressFaron Pharmaceuticals said that an abstract highlighting recent data from its phase 3 study of cancer drug, Clevegen, had been selected for a poster discussion presentation at the European Society...
-
02 Sep
09:34UK manufacturing PMI falls to seven-year lowThe UK manufacturing purchasing managers' index fell to a seven-year low of 47.4 in August, according to IHS Markit. The market had bee expecting the reading to stay steady a 48.0. 'The high...
-
02 Sep
09:32C4X Discovery taps industry vet to head up and form drug discovery advisory networkC4X Discovery said Robin Carr, a renowned industry veteran who has worked at GSK and Astex, would head up and form a drug discovery advisory network in an effort to bolster the company's drug...
-
02 Sep
09:28AB Dynamics completes acquisition of Dynamic Research Incorporated for up to $24.7mAB Dynamics said it had completed the acquisition of California-based Dynamic Research Incorporated for a total of up to $24.7m. Dynamic Research Incorporated, DRI, was a leading supplier of...
-
02 Sep
09:27Pires Investments to enter tech with planned investment in Sure Valley VenturesResources and energy sector focused Pires Investments said it was planning to enter the technology sector, initially with a £1.1m investment in venture capital fund Sure Valley Ventures. Pires...
-
02 Sep
09:21Tekcapital company Salarius advances low-sodium salt commercial testsTekcapital said that 11 companies were now testing a low-sodium salt developed by portfolio company Salarius, for possible incorporation into their snack products. Salarius had also received a...
-
02 Sep
08:55Ashley House reaches final close on one of three delayed schemesAshley House said the 54-apartment extra care facility Morgan Ashley scheme with a gross development value of £13.5m at Romsey had reached financial close. The scheme was one of the three...
-
02 Sep
08:36Cabot Energy inks funding deals for late summer and winter work programmesOil and gas company Cabot Energy said it had entered into a non-binding agreement for an asset-level loan facility of up to C$5.0m with a private energy lender to fund a winter work programme...
-
02 Sep
08:22Seplat Petroleum Development notes media reports of chairman court setbackNigeria and London-listed Seplat Petroleum Development Company said it had been made aware of media reports indicating a Nigerian court had ruled against parties, including its chairman A. B. C....
-
02 Sep
08:16Emmerson eyes update to mineral resource estimate after completing drilling at Khemisset potash projectEmmerson said it had completed its drill programme at Khemisset potash project in Northern Morocco under budget and on schedule, paving the way for the release of updated mineral resource estimate....
-
02 Sep
08:03Destiny Pharma to present research on drugs to tackle 'superbugs' at EuroBiofilms conferenceDestiny Pharma, a clinical stage biotechnology company, said that data from its collaboration with Cardiff University exploring the use of the company's drugs to tackle 'superbugs' would be...
-
02 Sep
07:58Caspian Sunrise to raise funds through discounted stock offering to purchase equipment for $7mCaspian Sunrise said it would raise capital through the placing of shares at a discount to purchase drilling equipment, including four rigs, for a total of $7m. The company said it would issue of...
-
02 Sep
07:56Medica appoints Stuart Quin as CEOTeleradiology services Medica confirmed that Stuart Quin had become its new chief executive. His appointment came amid the resignation of John Graham, whose departure was announced in May....
-
02 Sep
07:53Portmeirion CEO Lawrence Bryan retiresHomewares manufacturer Portmeirion said chief executive Lawrence Bryan had retired. Bryan would stay on the board as a non-executive director. He had been replaced by group financing director...
-
02 Sep
07:50Former Zinc Media CEO stands down from boardContent producer Zinc Media Group said former chief executive David Galan had stood down from its board as a non-executive director. The company also announced that it had appointed Andrew Garard...
-
02 Sep
07:47Shearwater plans share reorganisation to attract investorsCyber security company Shearwater Group launched a proposed share capital reorganisation. The move would reduce the number of issued ordinary shares in the company by a factor of 100. It was...
-
02 Sep
07:43US Solar Fund completes acquisition of Utah solar farmUS Solar Fund said it had closed the acquisition and financing of all of the cash equity interests in the 128 megawatt Milford solar project in Utah. Construction was expected to begin immediately...
-
02 Sep
07:34Matomy Media investors plan meeting to demand bond repaymentsMatomy Media said the trustee of its bondholders would convene a meeting, at the request of a few bondholders, to be held this Thursday. On the agenda was a resolution of a contingent demand of an...
-
02 Sep
07:29Tau Capital books first-half loss; mulls reverse takeover optionsCash shell Tau Capital booked a first-half loss a it continued to search for a potential reverse takeover candidate. Net losses for the six months through June amounted to $0.20m, compared to...
-
02 Sep
07:28AstraZeneca diabetes drug combined with standard care shows reduction in heart failureAstraZeneca said its type-2 diabetes drug on top of standard care showed a reduction in both the incidence of cardiovascular death and the worsening of heart failure in patients with and without...
-
02 Sep
07:25St Peter Port Capital terminates management agreement; brings function in-houseSt Peter Port Capital said it was planning to terminate its discretionary investment management agreement with St Peter Port Investment Management and become a self-managed fund. The company said...
-
02 Sep
07:22Motif Bio secures debt repayment extension from Hercules CapitalAntibiotics developer Motif Bio said lender Hercules Capital had agreed to push back the company's next amortisation date to 1 October, from 1 September. The change would mean that the September...
-
02 Sep
07:18AstraZeneca announces 'positive' results from clinical trialAstraZeneca announced 'positive' results from its trial which showed that its cardiovascular drug, when combinbed with Aspirin, reduced the relative risk of heart attack or stroke by 10% compared...
-
02 Sep
07:17Tectonic Gold sells royalty interest in Graphmada graphite mine in MadagascarTectonic Gold said it had agreed to sell its 2.5% royalty interest in the Graphmada graphite mine in Madagascar to SilverStream for up to around A$0.55m. The purchase would be settled in cash and...
-
02 Sep
07:15MySale launches open offer to raise £2.1mOnline retailer MySale said it had launched an open offer to raise up to around £2.1m. New shares in the company would be issued at 2p each, with qualifying shareholders able to subscribe for two...
-
02 Sep
07:13Serinus Energy CFO Tracy Heck stands downTunisia and Romania focused oil company Serinus Energy said that chief financial officer Tracy Heck had resigned for personal reasons. She would remain with the company until 31 October to assist...
-
02 Sep
07:10Woodford Patient Capital Trust appoints Jane Tufnell to boardWoodford Patient Capital Trust said that it had appointed Jane Tufnell as an independent non-executive director, with immediate effect. The investment company also announced that Steven Harris...
-
02 Sep
07:07Sirius Real Estate acquires German business park for €6.7mGermany-focused business property investor Sirius Real Estate said it had acquired an office building adjacent to a business park in Bochum from Hausser-Bau for €6.7m. The acquisition cost...