News And Announcements
Solo Oil enters $5m convertible loan agreement
Solo Oil has entered into a convertible loan agreement with institutional investors arranged by RiverFort Global Capital, it announced on Tuesday, for a total maximum commitment of $5m.
EgyptAir signs letter of intent to buy 24 Bombardier CS300 jets
From the sidelines of the Dubai Airshow, the President of Bombardier Commercial Aircraft, Fred Cromer, together with the CEO of EgyptAir Holding Company, Safwat Musallam, celebrated the signature of a letter of intent for a maximum of 24 CS300 aircraft.
AppScatter to launch platform on 22 November
App distribution software-as-a-service provider AppScatter Group announced on Tuesday that the formal launch of its appScatter platform has been set for 22 November.
Tesco aims for 2018 Booker takeover as CMA waves deal through
Tesco's controversial takeover of wholesaler Booker has been given provisional clearance by the UK competition authority after an in-depth review, though one analyst bemoaned "what on earth is going on?" and said it could presage other major mergers.
Abcam starts new financial year on a positive note
Investors in life science research tools supplier Abcam were told that the new financial year had started “positively” on Tuesday, as they gathered for the company’s annual general meeting.
Supermarkets surf food inflation wave to grow sales - Kantar/Neilsen data shows
Food price inflation breaking through to a four-year high has helped supermarket sales in recent weeks, with Sainsbury’s and Tesco both enjoying a strong period of growth, according to surveys released on Tuesday.
Frenkel Topping trading 'significantly ahead' of 2016
Specialist independent financial advisor and asset manager Frenkel Topping updated the market on its trading for the current financial year on Tuesday, reporting that its performance in the year to 31 October has been “significantly ahead” of the same period in 2016, and was broadly in line with expectations.
Binary options to be regulated by FCA from January
The City watchdog will begin policing firms offering binary options from January and issued a warning to consumers about the risk of investing in such high-risk, speculative products.
Sareum Holdings raises £700k in placing to progress drug development
AIM-listed Sareum Holdings has raised £700,000 before expenses through a placement of 1 million shares, which will be used to progress the company’s drug development programmes and for working capital purposes.
Intermediate Capital AuM rise 14% in first half
Asset manager Intermediate Capital reported a 14% jump in assets for the first half on Tuesday as it raised €5. 7bn of new money.
Redefine International morphing into RDI REIT
Redefine International announced on Tuesday that, as of 1 December, it will change its name and rebranding to RDI REIT.
Polypipe 'on track' to achieve management expectations for full-year
Plastic piping manufacturer Polypipe reported strong organic growth across UK residential and mainland European markets in the ten months to 31 October, putting the firm on track towards management expectations for its full year.
B&M sees continued revenue improvement as estate expands
B&M European Value Retail reported a 21. 7% improvement in group revenues to £1. 35bn in its half-year results on Tuesday - a 21% rise at constant currencies.
FirstGroup boosted by new South Western Railway franchise
Passenger transport operator FirstGroup updated the market on its overall trading in the first half on Tuesday, saying it was “consistent” with plans it outlined at start of the financial year with “strong” cash performance in addition to inflows from the recent start of its South Western Railway joint venture.
UBM leaves expectations unchanged despite fashion and pharma 'softness'
Events and business information provider UBM updated the market for the current financial year to date on Tuesday, reporting that trading since the half year has been “strong” with the group on track to deliver “significantly accelerated” adjusted underlying revenue growth in annual events for the full year, of at least the Global B2B Exhibitions Industry average.
Electrocomponents growth accelerates after bumper first half
Electrocomponents reported a 16. 6% reported improvement in revenue in its first half on Tuesday, to £823. 8m, or 13. 3% on an underlying basis, as its gross margin rose 0. 6 percentage points to 43. 4%.
Higher material costs offset bumper steel market for Vesuvius
Molten metal flow engineering company Vesuvius updated the market on its trading for the period from 1 July to 30 September on Tuesday, reporting that since its half year results in July, global steel production growth has exceeded its expectations and overall sales growth has continued to outperform the global steel market.
Schneider posts good growth ahead of combination with AVEVA
Schneider Electric Software saw a 4% improvement in its first half revenue to $288. 5m in the six months to 30 September, it reported on Tuesday, ahead of its planned combination with FTSE 250 company AVEVA.
AVEVA posts solid first half as market conditions stabilise
AVEVA Group claimed a “good” first half performance in its interim results on Tuesday, which it said reflected “strong” sales execution and more stable market conditions in the six months to 30 September.
Vectura initiates £15m share buyback
Vectura Group announced on Tuesday that its board has approved a share buyback to return up to £15m of capital to shareholders.