News And Announcements
Prudential announces plan to spin off UK businesses
Prudential announced plans to split off its UK and Europe business as the life insurer posted a rise in annual profit driven by surging sales at its Asian business.
Conviviality discovers £30m tax bill that threatens covenants, cancels interim divi
The bad news just kept coming for Conviviality on Wednesday as it announced that it was cancelling the interim dividend that was due to be paid at the end of the week, after its shares were suspended following the discovery of a £30m tax bill that could force the alcohol wholesaler and distributor to break its banking covenants.
Flowtech Fluidpower buying Balu in £10.2m deal
Specialist technical fluid power products supplier Flowtech Fluidpower has entered into an agreement to acquire the entire issued share capital of Balu and its trading subsidiaries, Beaumanor and Derek Lane, for a total consideration of approximately £10. 2m, it announced on Wednesday.
AfriTin upbeat on latest work at Uis mine
AfriTin Mining, a mining company with a portfolio of near production tin assets in Namibia and South Africa, updated the market on operations at its flagship Uis tin mine in Namibia on Wednesday, reporting the completion of detailed geological mapping over the V1 and V2 pegmatites.
Toys R' Us set to shut all UK stores, 3,000 employees to lose their jobs
Toys R Us are set to start closing all 100 UK stores on Thursday leaving 3,000 staff on the street after the retailer failed to find a buyer, leading to the collapse of the company.
Which? claims holidaymakers aren't warned about post-Brexit flight cancellations
Which? has revealed that millions of holidaymakers haven’t been warned properly by travel companies of the consequences of a ‘no deal’ on aviation post-Brexit, which includes potential flight disruptions and booking cancellations.
Yu Group raises £12m for investments in growth
Independent supplier of gas and electricity to the corporate sector, Yü Group, has raised £12. 0m in gross proceeds, it announced on Wednesday, through a placing of 1. 2 million new ordinary shares at a price of £10. 00 each.
Corero confirms two orders for its 'SmartWall' system
Network security company Corero Network Security announced two orders for its ‘SmartWall’ threat defense system technology on Wednesday, with a combined value of $0. 9m and additional incremental orders expected in 2018.
Morrisons drops as payout on 'continued growth' fails to convince
Supermarket group Morrisons announced a special dividend on top of its annual payout as management expressed confidence that the company will continue to grow sales and profits.
Melrose proposes binding GKN undertakings to MPs
Melrose Industries has sought to reassure MPs about its proposed hostile takeover of GKN by proposing binding commitments on research, pensions and other matters of political concern.
OnTheMarket signs up 1,000 offices since AIM admission
Online property portal operator OnTheMarket announced on Wednesday that, in the first five weeks since admission to AIM, additional agent firms with more than 1,000 offices were now in listing agreements with the company.
LightwaveRF abandons exclusive distribution model
Smart home solutions provider LightwaveRF announced a series of expanded distribution arrangements covering both the UK retail and wholesale sectors on Wednesday - one of which would lead to Lightwave devices being sold by the John Lewis Partnership.
Physiomics awarded a new Innovate UK grant
Cancer treatment prediction technology company Physiomics has been awarded a new grant by Innovate UK, it announced on Wednesday.
Everyman Media profit jumps amid expansion
Everyman Media, the owner of the Everyman cinema chain, reported a big jump in full-year profit on Wednesday as it continues to expand.
Dana could list in London as part of GKN deal
US-based auto parts giant Dana Inc could list its shares in London as a condition of its $6. 1bn acquisition of GKN's power train business.
London midday: Stocks rise as investors cheer Prudential spin-off; US retail sales eyed
London stocks were adding to their early gains by midday on Wednesday, recovering somewhat from losses in the previous session as a strong performance from miners and Prudential lent a hand.
Marshalls profit rises, dividend gets a boost
Marshalls posted a jump in full-year profit and revenue on Wednesday as the specialist landscape products group upped its final dividend by 17%.
Broadcom withdraws and terminates Qualcomm offer
Singapore-based Broadcom has withdrawn and terminated its hostile offer to buy US chipmaker Qualcomm after President Trump blocked the deal on the grounds of national security.
Gem Diamonds sparkles on diamond recovery, revenue jump
Gem Diamonds sparkled on Wednesday as it announced the recovery of yet another diamond of more than 100 carats and said full-year revenue rose 13%.
Alba bolsters Horse Hill consulting team with addition of Sue Corrigan
Diversified mineral exploration and development company Alba Mineral Resources announced the appointment of Sue Corrigan as its technical consultant for oil and gas on Wednesday, with immediate effect.