News And Announcements
Capital & Regional FD Staveley to step down
Real estate investment trust Capital & Regional said on Monday that finance director Charles Staveley will step down from the board on 15 August and leave the company later in the year to pursue other business interests.
Unite union to meet with Sainsbury bosses over pay row
The Unite union will hold talks with Sainsbury bosses on Wednesday over a collective grievance in the long-running ‘sign or be sacked’ contracts row affecting 123,000 workers.
IWG tumbles as talks called off, profits fall 33%
IWG has called off the months-long talks with three suitors, Starwood, Terra Firma and TDR, as the serviced office company's directors believe none of them "capable" of buying the business for a price they could recommend to shareholders.
UK watchdog slaps Barclays over second PPI failure
Barclays Bank has been ordered to rectify its procedures for communicating with payment protection insurance (PPI) customers for a second time by the competition watchdog.
Summit Germany buys majority share of GxP German Properties
German commercial property investment company Summit Germany has entered into an unconditional agreement to acquire 72% of GxP German Properties - a company listed on the Frankfurt Stock Exchange - from Consus Real Estate and other minority holders, it announced on Monday.
Arix buys small chunk of Australia's Pharmaxis
Healthcare and life science company Arix Bioscience has acquired an 11% interest in Australian pharmaceutical research company Pharmaxis, it announced on Monday.
Urals Energy makes decent operational progress
Independent exploration and production company Urals Energy updated the market on its recent operations on Monday, reporting that the drilling of ots planned exploration well, ‘well 1’, at the South Dagi field on Sakhalin Island had reached a depth of approximately 1,400 meters.
Solo Oil raises £2.41m through firm and conditional placings
Solo Oil has raised £2. 41m before expenses, it announced on Monday, through a firm placing and conditional placing, with the board also planning an open offer to existing shareholders.
Bahamas Petroleum CEO package slashed in cost-cutting exercise
Oil and gas exploration firm, Bahamas Petroleum Company, announced a number of permanent changes to the contract of its chief executive officer on Monday, which it said “significantly reduces” the basic salary, wrote off accrued cash payments, and ended the accrual of conditional share entitlements, while at the same time continuing to align management and shareholder interests.
Belimo Holding sees solid growth in first half
Belimo Holding reported a “dynamic” first half on Monday, with double-digit sales growth of 12. 7%, or 10. 8% in currency-adjusted terms, to CHF 325. 1m (£236. 57m).
InfraStrata says it's well on track with FEED progress
Natural gas storage development company InfraStrata updated the market on its front-end engineering design (FEED) progress on Monday, having now achieved over 50% of the pre-established milestones.
Vast Resources subsidiary submits application to mine at Baita Plai
Romania and Zimbabwe-focussed mining company Vast Resources announced on Monday that, following acceptance of the agreement by the Minister of Economy as announced on 22 June, the state-owned company Baita SA - the holder of the Baita Plai Head Licence - and Vast’s 80% subsidiary African Consolidated Resources, had now submitted their joint formal application to Romania’s National Agency for Mineral Resources.
HSBC interim profits up 5% as operating expenses increase
HSBC said interim pre-tax profits rose 5% to $10. 7bn (£8. 23bn), reflecting a net favourable movement in significant items and favourable currency translation, but higher expenses were still a drag on the results.
Victoria to buy European tile maker Saloni for EUR96.7m
AIM-listed Victoria has agreed to buy European ceramic and porcelain tile maker Saloni for €96. 7m (£86. 2m).
RHI Magnesita brings down interest costs with new loan and credit facility
Refractory products, systems and services supplier RHI Magnesita announced the successful syndication of a new unsecured $600m, five-year term loan and multi-currency revolving credit facility with a syndicate of 10 international banks on Monday.
St. Modwen sells 34 properties to Hansteen in £54m deal
St. Modwen Properties has exchanged contracts for the disposal of a portfolio of 34 assets to Hansteen Holdings, it announced on Monday, for a total cash consideration of £53. 7m.
Lok'nStore full-year revenue jumps amid 'strong' trading
AIM-listed self-storage company Lok'nStore reported a jump in full-year revenue on Monday as it hailed "strong" trading.
Wizz Air traffic up 23% in July
Wizz Air said posted a 22. 9% jump in passenger numbers for July on Monday, as the load actor ticked higher.
Vedanta sees numbers slide in several areas in first quarter
Vedanta Resources posted its production and financial results for the first quarter on Monday, with average gross oil and gas production rising 4% year-on-year to 195 kboepd.
Synthomer cautiously confident as capex reaps profits
Synthomer, the manufacturer of speciality polymers, reported a 6. 4% increase in underlying profit for the first half of the year, with management "cautiously confident" for the full year.