Economic and Market News for 22 January 2018

  • 22 Jan
    Accrol Group CFO resigns

    Accrol Group Holdings is searching for a new chief financial officer after James Flude resigned from the company to purse other interests. Martin Leitch would assume the role on interim business...

  • 22 Jan
    Atalaya Mining boosts annual copper output

    Atalaya Mining forecast copper production for 2018 to be in the range of 37,000 to 40,000 tonnes. Output in 2017 rose to 37,164 tonnes, from 26,179 tonnes in 2016, the company said. At 3:13pm:...

  • 22 Jan
    DekelOil completes project upgrades

    DekelOil Public said the installation of a second boiler at its Ayenouan palm oil project in Côte d'Ivoire to minimise downtime in the event of a breakdown had been completed ahead of schedule and...

  • 22 Jan
    Angus Energy buys into UK oil field

    Angus Energy said it had agreed to form a new partnership with Cuadrilla Balcombe and Lucas Bolney with regards to the UK's Balcombe oil field. Angus Energy would join the partnership through the...

  • 22 Jan
    Frontera Resources confirms Georgia gas discovery

    Frontera Resources Corporation said a sustained delivery of natural gas had been confirmed during testing at a well in Mtsare Khevi area of Georgia. The flowing interval at the Ud-2 indicated the...

  • 22 Jan
    Helical redeeming bonds to cut debt

    Property developer Helical said it intended redeem an £80.0m bond offering on March 2, in line with plans to reduce its debt and annual finance costs. The 6% bonds were issued on 24 June 2013 with...

  • 22 Jan
    Karelian gets Finnish exploration permit

    Karelian Diamond Resources said it has received an exploration claim from the Finnish Mining Authority for the country's Kaavi region. The permit was granted for a four-year period and offered the...

  • 22 Jan
    Gazprom gets Turkey pipeline approval

    Russian energy giant Gazprom said it had received a construction permit from Turkish authorities for the second string of the TurkStream gas pipeline's offshore section stretching to the Turkish...

  • 22 Jan
    Fura Gems seals Colombia emerald mine deal

    Toronto-based Fura Gems completed its acquisition of a 76% interest in Esmeracol, which owns a licence for a Colombian emerald mine. "With this acquisition, Fura now has two important silos in its...

  • 22 Jan
    South32 changes senior executive duties

    South32 said the operational responsibilities of its two chief operating officers would change with the management of South Africa Energy Coal as a standalone business. Mike Fraser would be...

  • 22 Jan
    Molins shareholders approve name change

    Packaging company Molins said its shareholders had approved a resolution to change the company's name to Mpac Group. The new name would consequently apply from January 26, while its ticker would...

  • 22 Jan
    Turkiye Garanti Bank fined by French regulators

    Turkiye Garanti Bank said French financial regulators had imposed a judicial fine on the bank, without being more specific. The fine was announced by the Grande Tribunal in Paris, the bank said....

  • 22 Jan
    Ruffer Investment director to resign

    Ruffer Investment Company said non-executive director Sarah Evans would stand down at the end of January for health reasons. Chris Russell, an independent non-executive director, would assume...

  • 22 Jan
    International Biotechnology Trust provides portfolio update

    International Biotechnology Trust said its dividend equated to 4% of its net asset value at the end of December. The group had net assets of £234m, spread among 92 portfolio companies, and net...

  • 22 Jan
    Sunrise Resources welcomes test results

    Sunrise Resources said it had gleaned positive test results at its CS Pozzolan-Perlite project in Nevada. Tests on the company's pozzolan show that the product mitigates the negative impact of...

  • 22 Jan
    Ladbrokes responds to triennial review speculation

    Ladbrokes Coral has noted press speculation that the UK Secretary of State may favour a reduction in maximum stakes held on fixed-odd betting terminals to £2. "The triennial review has been...

  • 22 Jan
    NMC Health makes acquisitions in UAE, Saudi Arabia

    NMC Health, a United Arab Emirates private healthcare operator, said it had acquired a 70% stake in cosmetic surgery group CosmeSurge for an implied enterprise value of around $250m. The business...

  • 22 Jan
    Palace Capital sells Surrey property

    Palace Capital said it had sold 138 Molesey Avenue, Surrey for £595,000 to a private investor. The sale price was at a premium of 10% to book value as at 30 September 2017. The company also...

  • 22 Jan
    Ortac Resources confirms name change

    Ortac Resources confirmed that it had changed its name to Arc Minerals. The company's new ticker would be ARCM, it said. At 9:47am: (LON:ARCM) share price was +2.65p at 2.65p Story provided...

  • 22 Jan
    Premaitha Health sources loan for legal costs

    Premaitha Health has entered into an up to £2.1m secured loan facility agreement with Thermo Fisher Scientific to cover legal costs. The loan would fund costs related to the ongoing Illumina...

  • 22 Jan
    Saffron Energy confirms Italian asset acquisition

    Saffron Energy confirmed that it agreed to acquire Italian oil and gas assets from Sound Energy and Po Valley Energy. Following the acquisitions and subject to shareholder approval, the enlarged...

  • 22 Jan
    Milestone reaches agreement over placement dispute

    Milestone said it had entered into a compromise agreement with a counter-party to its recent share placement. The counter-party agreed to pay the company a settlement payment of £125,000 and to...

  • 22 Jan
    Gem Diamonds recovers high quality diamond

    Gem Diamonds Limited (GEMD) has announced the recovery of an 'exceptional quality' 149 carat, D colour Type IIa diamond, with 'excellent shape', from the Letseng mine in Lesotho, the highest dollar...

  • 22 Jan
    Kennedy Ventures hopes to publish delayed results in March

    Mining outfit Kennedy Ventures, who's shares are suspended pending the release of results for the year to 30 June has provided a progress report on their announcement. The company confirms that...

  • 22 Jan
    Sound Energy sells Italian assets

    Sound Energy has agreed to sell its Italian assets to Saffron Energy, pending a share issue by Saffron to raise funds for working capital purposes. The acquisition would involve the issue of...

  • 22 Jan
    Tiziana Life Sciences completes share placement

    Tiziana Life Sciences said it raised £100,000 from a share issue, at an issue price of 150p per share. At 8:26am: (LON:TILS) Tiziana Life Sciences Plc share price was +0.5p at 137.5p Story...

  • 22 Jan
    Silence Therapeutics granted European patent

    Silence Therapeutics said it had been granted a patent by the European Patent Office for one if its RNA therapies. The claims of European patent EP 1857547B would provide Silence with further...

  • 22 Jan
    Serica Energy says pipeline blockage hampers output

    Serica Energy said a blockage has occurred in the Lomond-to-Everest condensate export pipeline, hampering production at the Erskine field in the UK North Sea. The cause was currently being...

  • 22 Jan
    IntegraFin lines up London listing

    Platform services provider IntegraFin has announced plans for an IPO on the Main Market of the London Stock Exchange in March 2018. It serves UK clients and their financial advisers through its...

  • 22 Jan
    OneView takes out short-term loan

    OneView said Hawk Investment Holding sand Lane Capital Group, owned by non-executive director Gary Lane and his family, had provided the company with a $300,000 loan facility. The 90-day loan was...

  • 22 Jan
    Solo Oil says Helium One mulling IPO

    Solo Oil said Helium One, a helium explorer in Tanzania in which it holds a 15% interest, was mulling a initial public offering in Australia. Helium One has appointed PAC Partners to review...

  • 22 Jan
    Mail.Ru acquires ESForce

    Russian Internet company Mail.Ru has acquired e-sports group ESForce for $100m, less any outstanding debt at closing, with a further performance-related sum payable at the end of 2018. The further...

  • 22 Jan
    Redx appoints chief medical officer

    Redx has appointed Andrew Saunders as its chief medical officer. Saunders had worked in the oncology field for over 25 years and has extensive experience in all aspects of the clinical development...

  • 22 Jan
    Smiths Group sells bearings business for $35m

    Smiths Group has agreed to sell its John Crane's Bearings business to private Austrian company Miba for an enterprise value of $35m. The transaction was subject to the satisfaction of certain...

  • 22 Jan
    Ocado partners in Canada with Sobeys

    Ocado Group said it had formed a partnership with Sobeys to develop an online grocery business in Canada. Sobeys is Canada's second-largest food retailer, operating more than 1,500 stores across...

  • 22 Jan
    Picton secures occupiers at Bristol office

    Picton said it had secured two new occupiers at Tower Wharf, a Bristol office building that it acquired for £23.15m in August. Two businesses have completed new leases for a combined 19,100 square...

  • 22 Jan
    Gulf Marine appoints joint corporate broker

    Gulf Marine Services, the leading provider of advanced self-propelled self-elevating support vessels (SESVs) serving the offshore oil, gas and renewable energy sectors, has announced the...

  • 22 Jan
    Genel gets paid for crude

    Kurdistan oil producer Genel Energy (GENL) has announced a payment from the local regional government for exports of its crude. Genel notes the announcement from DNO ASA, as operator of the Tawke...

  • 22 Jan
    National Grid inks New York rate agreement

    National Grid and the New York Public Service Commission have filed a joint proposal for a three-year rate plan settlement for the Niagara Mohawk Power Corporation electric and gas distribution...

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