Economic and Market News for 16 August 2019
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16 Aug
14:56SSP to consult investors over executive pay, chairman tenureConvenience store group SSP said it would undertake a further round of consultation with investors following a significant vote against its remuneration report at its annual general meeting in...
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16 Aug
14:10Acacia Mining resumes gold exports from North Mara mine in TanzaniaAcacia Mining said it had resumed the export of gold from its North Mara mine, having started receive permits from the Mining Commission of the Tanzanian Ministry of Minerals. The company said it...
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16 Aug
13:49Global Ports Investments to cut debt with $52.8m bond repurchaseGlobal Ports Investments said financial arrangements had been made for it to purchase $52.8m of its corporate bonds. The 6.872% notes were due on 2022 and issued in April 2016. The purchased...
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16 Aug
13:42US building permits jump in July; housing starts fallUS privately‐owned housing units authorized by building permits rose 8.4% in July to a rate of around 1.34m. The reading beat market expectations for a rise to 1.27m, from 1.23m in June. Housing...
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16 Aug
13:38AfriTin Mining secures £2.4m working capital facility from Nedbank NamibiaTin miner AfriTin Mining said it had secured a £2.4m working capital facility with Nedbank Namibia to help it develop the Uis mine in Namibia. The loan was repayable in 12 months, with interest of...
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16 Aug
13:28Andalas Energy and Power says Indonesia well performing better than hopedAndalas Energy and Power said a well at the Betun Selo venture in Indonesia was performing ahead of the expectations. The BTN14 well was now producing 30 barrels of oil per day, up from 4.5...
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16 Aug
13:11Ibstock CFO Chris McLeish to commence role at end AugustIbstock said that incoming chief financial officer Chris McLeish would be formally appointed to the role on 31 August. He would replace Kevin Sims following a handover period, the details of which...
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16 Aug
13:07Court blocks Prudential annuities transfer to Rothesay LifeInsurance company Prudential said a British court had prevented the transfer of a portfolio of annuities from investment business M&GPrudential to Rothesay Life. The current benefits, terms...
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16 Aug
08:49Trading delayed on London Stock Exchange due to technical glitchThe London Stock Exchange said trading in shares had been delayed Friday due to a 'potential trading services issue'. The company said it would provide updates as soon as it had any further...
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16 Aug
08:37LightwaveRF plans to raise approximately £1.3m through the placing of sharesLightwaveRF announced plans to raise approximately £1.3m through the placing of shares. The company issued 15,806,811 new shares to new and existing investors at 7 pence per share, raising £1.1m...
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16 Aug
07:46Etalon Group acquires remaining 49% stake in Leader-Invest for RUB 14.6bnRussian construction company Etalon group said it had completed the purchase of the remaining 49% stake in Leader-Invest from Sistema for RUB 14.6bn. Leader-Invest, one of the largest players on...
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16 Aug
07:42Aminex continues to wait on Tanzanian government to approve farmout of Ruvuma to ARA PetroleumGas exploration and production company Aminex said it continued to wait on the Tanzanian government to approve the farmout of Ruvuma to ARA Petroleum. The company also said it had cut costs by more...
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16 Aug
07:41Upland Resources migrates to Jersey to improve corporate governanceUpland Resources said it had completed its migration to Jersey from British Virgin Islands. The company had made the move to enhance corporate governance, since it would now become subject to the...
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16 Aug
07:38Merian Chrysalis invests £10m in retailing software group SortedMerian Chrysalis Investment Company said it had invested £10m in Manchester-based software-as-a-service company Sorted as part of a £15m funding round. Other investors in the round included...
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16 Aug
07:35Equals to raise £16m through placing of shares at discountPayments group Equals detailed plans to raise up to £16m through an open offer and the placing of shares at a discount. The company said it would issue 12,727,000 shares at 110p, representing a...
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16 Aug
07:29Solo Oil welcomes surveying progress at Kiliwani North play in TanzaniaSolo Oil welcomed progress at a joint venture that is aiming to develop the Kiliwani North oil prospect in Tanzania. Operator and partner Aminex announced that reprocessing of 2D seismic lines had...
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16 Aug
07:27Induction Healthcare's Seb Jantet steps down as chief financial officerInduction Healthcare Group said that Seb Jantet would step down as chief financial officer by mutual agreement. Shelley Fraser, previously finance director and company secretary at hVIVO, had been...
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16 Aug
07:16Cello Health acquires Innovative Science Solutions for up to $10.5mCello Health said it had acquired Innovative Science Solutions for up to $10.5m. Under the terms of the deal, Cello paid an initial consideration of $6.4m in cash and agreed to pay a deferred...
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16 Aug
07:15Ted Baker inks childrenswear distribution pact with NextFashion retailer Ted Baker said it had forged a product licence agreement with rival Next to accelerate the expansion of its childrenswear collections, replacing an existing arrangement with...
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16 Aug
07:10Ultra Electronics joint venture wins $1.04bn contract from US NavyUltra Electronics said it and joint venture partner Sparton DeLeon Springs had won a contract worth up to $1.04bn for the manufacture of sonobuoys for the US Navy. The contract, awarded to the...
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16 Aug
07:06Pendragon sells Chevrolet dealership in California to Scott Biehl for about £17.2mPendragon said it had agreed to sell its Chevrolet motor vehicle dealership in Puente Hills, California to businessman Scott Biehl for around £17.2m. Biehl was the operator of a privately-owned...