Economic and Market News for 24 January 2020
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24 Jan
14:58Catenae seeking immediate funding to avoid insolvencyDigital media and technology provider Catenae said its working capital position remained week and that it was in funding talks with a number of parties. The company said it was attempting to...
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24 Jan
14:53LightwaveRF to cancel shares from AIM; says sale process ongoingSmart home group LightwaveRF said it was planning to cancel its shares from trading on AIM. A meeting to vote on the move would be held on 10 February. LightwaveRF also said a strategic review,...
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24 Jan
14:11Metal Tiger to attain 20% stake in Australian miner CobreMetal Tiger said it would attain a 20% stake in miner Cobre when it lists on the Australian Securities Exchange around the end of January. Cober confirmed it was planning to list in Sydney in...
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24 Jan
14:07RedT energy progresses merger plan with Avalon BatteryEnergy storage company RedT energy said it continued to make progress with its planned merger with Avalon Battery. An AIM admission document relating to the merger as expected to be published by...
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24 Jan
14:05Mi-Pay to receive £0.3m tax credit; continues to pursue share cancellationPayment services provider Mi-Pay said it expected to receive a tax credit of around £0.3m but would nevertheless proceed with cancellation of its shares from AIM. Mi-Pay said it had received...
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24 Jan
13:57Summit Therapeutics operations head David Roblin resignsSummit Therapeutics said chief operating officer David Roblin had resigned, effective at the end of January. He would also relinquish the role of chief medical officer and president of R&D....
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24 Jan
13:26Venture Life complete acquisition of PharmaSourceSelf-care product manufacturer Venture Life said the conditions to complete its up to €6.5m acquisition of PharmaSource had been met and the deal sealed. The acquisition was first announced on 19...
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24 Jan
13:23Agronomics raises £5.5m via share issueClean-meat investor Agronomics said it had raised £5.5m via a share issue, which it said was undertaken to satisfy additional investor demand. New shares in the company were issued at 7p each....
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24 Jan
13:09TBC Bank executive's departure triggers management reshuffleGeorgian lender TBC Bank said chief risk officer David Chkonia had left at the end of his contract to pursue other career opportunities, triggering a management reshuffle. Deputy chief executive...
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24 Jan
09:4688 Energy raises A$5m through equity placement88 Energy announced plans to raise a gross A$5m through an equity placement to support ongoing projects and cover any potential shortfall related to the appraisal of the Charlie-1 well. The...
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24 Jan
09:33UK manufacturing, services PMI both jump in JanuaryThe UK flash manufacturing purchasing managers index rose to 49.8 in December, according to IHS Markit. The market had been expecting a more modest improvement to 48.8. The flash services PMI,...
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24 Jan
09:17Modern Water raises £1.85m from heavily-discounted share placingWater treatment and monitoring group Modern Water said it had raised £1.85m from a heavily-discounted share placing. New shares in the company were issued at 0.5p each, a 60% discount to their...
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24 Jan
08:49Black Sea Property completes placing, debt-to-equity conversionBlack Sea Property confirmed that it had raised about €4.6 and completed its debt-to-equity conversion, but added that the fundraise fell €200K short of its initial target due to partial...
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24 Jan
08:40Just Eat and Takeaway.com delay listing after UK competition watchdog launches investigation into mergerJust Eat and Takeaway.com said they would delay the listing of their enlarged company on the London Stock Exchange by one week after UK competition authorities launched a probe into the merger....
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24 Jan
08:21Hansard Global new business rises, led by Latin America, Middle EastHansard Global reported a rise in new business in the first half of the year amid good performances in Latin America and the Middle East. For the six months ended 31 December 2019, new business...
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24 Jan
08:02Columbus Energy progresses drill preparations at Saffron Well in TrinidadOil and gas producer Columbus Energy said it had made progress on pre-drill preparation at its Saffron well located onshore Trinidad. The company completed the interpretation of cased-hole...
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24 Jan
07:55Inland Homes, Octavia Housing to turn London industrial site into apartmentsInland Homes said it had signed a contract with Octavia Housing, a provider of affordable housing, to develop Afrex House, in Alperton, north-west London. The development of this former light...
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24 Jan
07:53Wey Education appoints Sara de Freitas as executive directorEducational services group Wey Education said it had appointed Sara de Freitas as executive director of education. De Freitas was most recently pro vice-chancellor (education) and professor of...
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24 Jan
07:51Hipgnosis Songs Fund acquires catalogue from UK songwriter Brian HigginsHipgnosis Songs Fund said it had acquired a music catalogue from British songwriter and producer Brian Higgins, for an undisclosed sum. Higgins had produced and co-written more 35 top-10 hits, for...
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24 Jan
07:50Global Ports venture buys remaining stake in Malaga concession for €1.5mCruise port operator Global Ports said its joint venture Creuers Del Port de Barcelona had completed the purchase of Autoridad Portuaria de Malagas's 20% stake in the Malaga cruise port concession...
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24 Jan
07:40SQN Asset Finance Income launches strategic review of operationsSQN Asset Finance Income Fund said it would conduct a strategic review of its operations. 'This will be wide-ranging to include the provision of investment management services,' the company said...
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24 Jan
07:30Tekcapital company Salarius secures US supply agreementIntellectual property investment group Tekcapital said portfolio company Salarius had secured a supply agreement with food ingredient broker Hanks Brokerage. Salarius, which was 97.5% owned by...
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24 Jan
07:27Warehouse REIT refinances debt with cheaper loanWarehouse investor Warehouse REIT said it had entered into a five-year £220m debt facility that would replace an existing £210m loan from HSBC. The refinancing, comprising a £157m term loan and...
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24 Jan
07:24OnTheMarket inks property listing agreement with BellwayOnline property portal OnTheMarket said it had signed a listing agreement with house builder Bellway. OnTheMarket said Bellway was the UK's fourth-largest house builder by volume and sold a record...
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24 Jan
07:06Smith and Nephew acquires ear tube business Tusker MedicalMedical technology company Smith and Nephew said it had acquired US-based ear tube group Tusker Medical, for an undisclosed sum. Tusker developed systems enabling placement of ear tubes in a...
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24 Jan
07:03Virgin Money chairman Jim Pettigrew to stand down by next yearMortgage lender Virgin Money said chairman Jim Pettigrew was planning to retire by September 2021. The move was in line with good corporate governance practice, the company said. Virgin Money...