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173448  Falcon Oil & Gas Ltd 2017-02-21 08:52:00  2017-02-21 09:03:25  2017-02-21 09:03:25  Falcon Oil & Gas boss Philip O’Quigley exercises share options  Falcon Oil & Gas boss Philip O’Quigley exercises share options      falcon-oil-gas-boss-philip-oquigley-exercises-share-options-173448.html    <p> <a href="-##!##-/LON:FOG/Falcon-Oil-%26amp%3B-Gas-Ltd/" class="companyPopupTrigger" rel="3376">Falcon Oil &amp; Gas Ltd</a> (LON:FOG, CVE:FO) is to receive C$600,000 from the exercise of share option held by chief executive Philip O’Quigley.</p> <p> The Falcon boss is exercising 6mln options which were due to expire at the end of April, and he pays a strike price of ten Canadian cents per share.</p> <p> Concurrently, a private placing has been arranged for O’Quigley to sell some 4.5mln of the newly issued shares to a single private shareholder, at a price of 14.5p (23.7 Canadian cents), with the proceeds of the shale sale covering the costs of the option exercise and related tax.</p> <ul> <li> <h3> <a href="http://www.proactiveinvestors.co.uk/companies/news/173275/falcon-oil-gas-gives-more-insights-to-massive-discovery-in-australias-northern-territory-173275.html" target="_blank">More insights to massive discovery in Australia’s Northern Territory</a></h3> </li> <li> <h3> <a href="http://www.proactiveinvestors.co.uk/companies/news/173156/falcon-oil-soars-50-after-report-by-aussie-partner-points-to-huge-gas-potential-of-its-licences-173156.html" target="_blank">Falcon soars after Aussie partner points to huge gas potential</a></h3> </li> <li> <h3> <a href="http://www.proactiveinvestors.co.uk/companies/stocktube/6943/everybody-is-on-the-falcon-oil-gas-plc-bandwagon-zak-mir-6943.html" target="_blank">Everybody is on the Falcon Oil &amp; Gas Plc bandwagon - Zak Mir</a></h3> </li> </ul> <p> O’Quigley essentially doubles his equity holding in the company, to just over 3mln shares, as a result of the transactions.</p> <p> The options were granted to O’Quigley in 2012 when he joined the company as chief executive - he also owns options to take a further 14mln shares.</p> <p> Falcon shares are up some 180% following the release of a major discovery and resource report for its breakthrough Australian shale project, and with financial results due at the end of April it is about to enter a ‘close period’ (at which point director share dealing would not be allowed).</p> <p> Last Wednesday, citing figures produced by Origin Energy, its partner in and operator of 16,000-square kilometres of licences, the gross best estimate of gas in place is put at a world-class 496 trillion cubic feet (TCF).</p> <p> Converting that to oil equivalent, it stacks up to 82bn barrels of the black stuff.</p>   Falcon Oil & Gas is to receive C$600,000 from the exercise of share option held by chief executive Philip O’Quigley. The Falcon boss is exercising 6mln options which were due to expire at the end of April, and he pays a strike price of ten Canadian cents per share.  NEWS        View Edit Delete
173431  HSBC 2017-02-21 07:26:00  2017-02-21 15:49:03  2017-02-21 07:33:40  HSBC's full year profits miss forecasts on one-off costs  HSBC's full year profits miss forecasts on one-off costs  full year, earnings, bank, lender, Brazil, global private banking     hsbc-s-full-year-profits-miss-forecasts-on-one-off-costs-173431.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:HSBA/HSBC/" rel="3429">HSBC</a> Holdings plc (<a class="companyPopupTrigger" href="-##!##-/LON:HSBA/HSBC/" rel="3429">LON:HSBA</a>) has today reported a worse-than-expected decline in full year profits, blaming one-off charges including the disposal of its Brazil operations.</p> <p> The bank posted pre-tax profit of $7.1bn in the year to 31 December 2016 on a reported basis, down from $18.9bn the previous year. Analysts had expected profits of $14.4bn, according to <a class="companyPopupTrigger" href="-##!##-/NYSE:TRI/Thomson-Reuters/" rel="4842">Thomson Reuters</a> data.</p> <p> The drop in profits reflected a $3.2bn impairment of goodwill in the company’s global private banking business in Europe and the impact of the sale of its operations in Brazil. &nbsp;<a class="companyPopupTrigger" href="-##!##-/LON:HSBA/HSBC/" rel="3429">HSBC</a> said the impairment charges in the private banking business related mainly to its acquisition of Safra Republic Holdings in 1999. The restructuring of private banking is largely complete.</p> <p> Reported revenue fell to $47.9bn from $59.8bn, primarily due to unfavourable foreign exchange movements and significant items, including operating results for the Brazil business and the loss recognised on its disposal.</p> <h3> <a href="http://www.proactiveinvestors.co.uk/companies/stocktube/6957/hsbc-losses-trigger-intense-negative-investor-reaction-says-spreadex-analyst-connor-campbell-6957.html" target="_blank">Watch:&nbsp;HSBC losses trigger 'intense negative investor reaction'</a></h3> <p> Following the sale of the Brazil business, the group completed a $2.5bn share buy-back and cut its risk weighted assets to $857,181 in 2016 from $1.2mln a year earlier. &nbsp;</p> <p> “We are investing over $2bn in digital transformation initiatives to improve our offer to customers, and are instigating a further $1bn buy-back programme reflecting the strength and flexibility of our balance sheet,” chief executive Stuart Gulliver said.</p> <p> Through its restructuring programme, <a class="companyPopupTrigger" href="-##!##-/LON:HSBA/HSBC/" rel="3429">HSBC</a> expects to deliver annualised cost savings of about $6bn by the end of 2017 and will use this to invest in the business. It expects to exit 2017 with a case base of about $29.5bn, in line with consensus estimates.&nbsp;</p> <p> On the lender’s plans to replace its chairman Douglas Flint, he said the process remains on track and an announcement will be made in due course.</p> <p> Looking ahead, the group said incremental growth is expected to be driven by emerging economies in which <a href="-##!##-/LON:HSBA/HSBC/" class="companyPopupTrigger" rel="3429">HSBC</a> is well represented.</p> <p> However, the bank warned that risks to this scenario “remain high” given the political uncertainty surrounding European elections, possible protectionist measures from the new US administration, the impact of a stronger dollar against currencies in emerging economies and the unknown outcome of Brexit negotiations.</p> <p> “We enter 2017 with the restructuring of the group essentially completed, and with a strong capital position and a conservative balance sheet,” Flint said.</p> <p> The common tier 1 ratio rose to 13.6% from 11.9%, missing market expectations of 13.8%.</p> <p> The dividend was left at 51c per share, taking the total for the year to $10.1bn.</p> <p> Shore Capital said the results were "disappointing” with a number of key metrics falling short of its estimates and consensus forecasts.</p> <p> The broker added the announcement of a further $1bn share buy-back was less than its expectations for an ongoing $2.5bn per year.</p> <p> On HSBC’s cost savings target, ShoreCap said $6.0bn may come as a disappointment as media reports have previously suggested a potential increase to $8.0bn.</p> <p> ShoreCap issued a ‘sell’ rating and target price of 712p. The broker expects fiscal year 2017 adjusted pre-tax profit of $20.8bn, adjusted diluted earnings per share of 51c and tangible net asset value of $7.39.</p> <p> Shares in HSBC fell 6.28% to 667.60p in morning trade.</p> <p> -- Adds broker note, updates share price --</p>   HSBC Holdings plc (LON:HSBA) has today reported a worse-than-expected decline in full year profits, blaming one-off charges including the disposal of its Brazil operations. The bank posted pre-tax profit of $7.1bn in the year to 31 December 2016 on a reported basis, down from $18.9bn the previous year. Analysts had expected profits of $14.4bn, according to Thomson Reuters data.  ARTICLE            View Edit Delete
173437  Anglo American 2017-02-21 07:50:00  2017-02-21 08:31:05  2017-02-21 07:57:46  Anglo American plans to resume dividends by end of 2017 as 2016 earnings rise 25%  Anglo American plans to resume dividends by end of 2017 as 2016 earnings rise 25%  Miner, FTSE 100, Anglo American PLC, to resume dividend payments, by end 2017, 2016 underlying earnings, up 25% rise, big drop, net debt    anglo-american-plans-to-resume-dividends-by-end-of-2017-as-2016-earnings-rise-25-173437.html    <p> Miner <a class="companyPopupTrigger" href="-##!##-/LON:AAL/Anglo-American/" rel="3117">Anglo American</a> PLC (<a class="companyPopupTrigger" href="-##!##-/LON:AAL/Anglo-American/" rel="3117">LON:AAL</a>) has said it plans to resume dividend payments by the end of 2017 as it posted a 25% rise in 2016 earnings and a big drop in net debt.</p> <p> The FTSE 100-listed firm saw its group underlying&nbsp; earnings (EBITDA) increase to US$6.075bn for the full-year to December 31, up from US$4.854bn in 2015, despite a 3% decrease in average prices.</p> <p> In late 2015, the group announced it would suspend dividends after a drop in commodity prices, and, to shore up its balance sheet, Anglo announced a major restructuring plan.</p> <p> But the group said in its statement: “It is currently expected that dividend payments will be reinstated for the end of 2017 (payable in 2018).”</p> <p> Mark Cutifani, <a href="-##!##-/LON:AAL/Anglo-American/" class="companyPopupTrigger" rel="3117">Anglo American</a>’s chief executive, said: "The decisive and wide-ranging operational, cost, capital and portfolio actions we set out in 2016 - to sustainably improve cash flows and strengthen the balance sheet - have enabled us to reduce net debt by 34% to $8.5 billion, significantly below our $10 billion target</p> <p> "Overall, it's clear that as a result of our decisive actions in 2016, and the results delivered by our people across the company, Anglo American is now more robust, with a stronger balance sheet and more competitive cost structure around a world class diversified asset base.”</p> <p> In opening deals, Anglo’s shares were up over 2%, or 28.5p at 1,388.5p.</p> <p> In a note to clients, analysts at Shore Capital noted that BHP “also confirmed press speculation, which we commented on last week, that ‘asset disposals for the purposes of deleveraging are no longer required’, albeit the company ‘will continue to refine [its] asset portfolio over time’ to ensure ‘capital is deployed effectively to generate enhance returns’.</p> <p> They added: “That said, the priority for 2017 is ‘to deliver further productivity improvements while maintaining capital and cost discipline’ in order to be able to afford the 2017 dividend, and to restore an investment-grade credit rating.”</p> <p> <em>&nbsp;-- Adds share price, broker comment --</em></p>   Miner Anglo American PLC has said it plans to resume dividend payments by the end of 2017 as it posted a 25% rise in 2016 earnings and a big drop in net debt. The FTSE 100-listed firm saw its group underlying earnings (EBITDA) increase to US$6.075bn for the full-year to December 31, up from US$4.854bn in 2015, despite a 3% decrease in average prices.  ARTICLE            View Edit Delete
173447  Anglo Pacific Group 2017-02-21 08:27:00  2017-02-21 11:18:33  2017-02-21 08:35:05  Anglo Pacific appoints new chairman  Anglo Pacific appoints new chairman  coal, royalty, appointment    anglo-pacific-appoints-new-chairman-173447.html    <p> <a class="companyPopupTrigger" href="-##!##-/ASX:APF/Anglo-Pacific-Group/" rel="14815">Anglo Pacific Group</a> PLC (<a class="companyPopupTrigger" href="-##!##-/LON:APF/Anglo-Pacific-Group-plc/" rel="1216">LON:APF</a>, TSX:APY) has appointed investment bank veteran Patrick Meier as its new chairman.</p> <p> A non-executive at the royalty specialist since 2015, Meier has thirty years experience in investment banking at RBC Capital Markets in Europe and Asia.</p> <p> He will take over from current chairman Mike <a class="companyPopupTrigger" href="-##!##-/NYSE:BTH/Blyth/" rel="6828">Blyth</a> following the 2017 Annual General Meeting. <a href="-##!##-/NYSE:BTH/Blyth/" class="companyPopupTrigger" rel="6828">Blyth</a> is to stay on as a non-executive.&nbsp;</p> <p> Meier said: “The Company is well placed to benefit from the improved sentiment in the sector, and has both a strong balance sheet and growth prospects.”</p>   A non-executive at the royalty specialist specialist since 2015, Meier has thirty years experience in investment banking at RBC Capital Markets in Europe and Asia. He will take over from current chairman Mike Blyth following the 2017 Annual General Meeting. Blyth is to stay on as a non-executive.   NEWS        View Edit Delete
173433  BHP Billiton plc 2017-02-21 07:29:00  2017-02-21 08:26:35  2017-02-21 07:36:07  BHP Billiton boosts dividend by 150% as half-year results see big improvement  BHP Billiton boosts dividend by 150% as half-year results see big improvement  Mining giant, BHP Billiton PLC, interim dividend, more than doubled, US$2.5bn bond, repurchase programme, first-half results, big improvement in performance    bhp-billiton-boosts-dividend-by-150-as-half-year-results-see-big-improvement-173433.html    <p> Mining giant <a class="companyPopupTrigger" href="-##!##-/LON:BLT/BHP-Billiton-plc/" rel="3118">BHP Billiton plc</a> (<a class="companyPopupTrigger" href="-##!##-/LON:BLT/BHP-Billiton-plc/" rel="3118">LON:BLT</a>) has more than doubled its interim dividend and unveiled plans for a US$2.5bn bond repurchase programme as it posted first-half results showing a big improvement in its performance.</p> <p> The multi-commodity miner reported a 65% jump in underlying earnings (EBITDA) to US$D9.90bn for the six months to December 31 2016, up from US$5.99bn a year earlier.</p> <p> After exceptional items, the FTSE 100-listed firm swung to a US$3.20bn profit attributable to shareholders from theUS$5.66bn loss it reported a a year earlier.</p> <p> BHP raised its interim dividend payment to 40 US cents per share, a 150% boost from the 16 US cents paid in the first-half last year.</p> <p> BHP Billiton Chief Executive Officer, Andrew Mackenzie, said: "This is a strong result that follows several years of a considered and deliberate approach to improve productivity and redesign our portfolio and operating model.”</p> <p> He added: “We are confident in the long-term outlook for our commodities, particularly oil, with markets expected to rebalance in the near-term, and copper where we expect a deficit to emerge in the early 2020s. We have the right settings in place to substantially grow shareholder value.”</p> <h3> Escondida action …</h3> <p> The group said it remained on track for US$1.8bn of productivity gains for the 2017 financial year, excluding any impact of industrial action at the Escondida mine in Chile.</p> <p> However, the group said total copper production guidance for the 2017 financial year is under review as a result of the ongoing industrial action at Escondida.</p> <p> Referring to the Samarco dam collapse disaster in Brazil, BHP said that a Preliminary Agreement has been entered into with the Federal Prosecutors' Office.</p> <p> The firm added: “Restart of operations (at Samarco) remains a focus but will only occur if it is safe, economically viable and has community support.”</p> <p> Separately, BHP announced a repurchase plan for bonds of up to US$2.5bn, which will target 2018, 2019, 2021, 2022 and 2023 US dollar denominated notes and which it said be funded by the group’s strong US$14bn cash position.</p> <p> In early trading, BHP shares gained almost 1.9%, or 26p at 1,426p.</p> <p> Analysts at Liberum pointed out that BHP ‘delivered a small beat to consensus earnings’.</p> <p> But, in a note to clients, they added: “Whilst the short-term demand outlook is solid, we remain cautious on expected commodity price moves from Q2 as Chinese cooling measures impact demand and supply continues to grow, in iron ore in particular.”</p> <p> Liberum repeated a ‘sell’ rating on BHP.</p> <p> <em>&nbsp;-- Adds share price, broker comment --</em></p>   Mining giant BHP Billiton PLC has more than doubled its interim dividend and unveiled plans for a US$2.5bn bond repurchase programme as it posted first-half results showing a big improvement in its performance. The multi-commodity miner reported a 65% jump in underlying earnings (EBITDA) to US$D9.90bn for the six months to December 31 2016, up from US$5.99bn a year earlier.  ARTICLE            View Edit Delete
173446  Grafenia Plc 2017-02-21 08:21:00  2017-02-21 08:27:59  2017-02-21 08:27:59  Grafenia warns on full year profit as soft demand hits print volumes  Grafenia warns on full year profit as soft demand hits print volumes  printing, web, web design, digital, profit warning    grafenia-warns-on-full-year-profit-as-soft-demand-hits-print-volumes-173446.html    <p> Shares in <a href="-##!##-/LON:GRA/Grafenia-Plc/" class="companyPopupTrigger" rel="808">Grafenia Plc</a> (<a href="-##!##-/LON:GRA/Grafenia-Plc/" class="companyPopupTrigger" rel="808">LON:GRA</a>) have dropped today after the web and print supplies group said its full year earnings will likely be “significantly behind” market expectations.</p> <p> The AIM-listed company said soft demand in January and early February meant print volumes were materially lower than the same period last year, which will impact annual results.</p> <p> Overall print volumes are higher than the previous year but margins fell as Grafenia cut prices to contend with fierce competition.</p> <p> “As the trade print price war continues, we need to remain competitive and do not expect margins from the sale of printing to improve,” the company said in a statement.</p> <p> “However, we are continuing to execute our transformation plan to transition our business into growth areas with more predictable subscription-based revenues and to other complementary product lines, such as website sales, ink-on-fabric displays and signage services.”</p> <p> Grafenia has turned its focus to its more profitable web business as clients are increasingly using marketing spend on digital and e-commerce.</p> <p> The group increased investment in its web design business Nettl, which now has 100 studios in the UK and in Ireland. &nbsp;A new service for same-day printing services, called "Nettl Now", has been launched to meet client demand.</p> <p> Last month the company announced the acquisition of a Liverpool-based sign business, ADD Signs, which is “progressing well” and will produce a sign range to sell through Nettl and printing.com partners.</p> <p> “We continue our search for further sign companies to acquire, roll together, unlock cost savings and rebrand as Nettl Business Stores,” Grafenia said.</p> <p> While Grafenia has made progress with its transformational plan, it continues to be hurt by weak transactional print volumes, which account for a material part of revenues. It said it remains cautious on the outlook.</p> <p> Shares dipped 1.64% to 7.50p in early trading.&nbsp;</p>   Shares in Grafenia plc (LON:GRA) have dropped today after the web and print supplies group said its full year earnings will likely be “significantly behind” market expectations. The AIM-listed company said soft demand in January and early February meant print volumes were materially lower than the same period last year, which will impact annual results.  NEWS          View Edit Delete
173445  John Wood Group PLC 2017-02-21 08:17:00  2017-02-21 08:22:53  2017-02-21 08:22:53  Wood Group expects only modest recovery in key markets  Wood Group expects only modest recovery in key markets      wood-group-expects-only-modest-recovery-in-key-markets-173445.html    <p> <a href="-##!##-/LON:WG./John-Wood-Group-PLC/" class="companyPopupTrigger" rel="3133">John Wood Group PLC</a> (LON:WG) says the oil and gas market continues to present challenges for services companies, and it is expecting only a modest recovery in key markets like US onshore and new offshore ventures.</p> <p> It comes as Wood reported a 22% drop in earnings, to US$363mln from US$470mln, in 2016 after revenues reduced 15% to US$4.93bn from US$5.8bn. At just US$34.4mln reported profit for the year was down 61% from US$90mln in 2015.</p> <p> Chief executive Robin Watson said the group’s financials were in line with expectations, despite challenging market conditions.</p> <p> “We enter 2017 as One Wood Group, repositioned to enhance customer delivery and we are encouraged by their support for our services, albeit in a competitive pricing environment,” Watson said.</p> <p> “The oil &amp; gas market continues to present challenges and we remain cautious on the near term outlook.”</p> <p> Wood Group expects its performance for 2017 will be impacted by the ‘competitive pricing environment’ but it added that cumulative cost savings made since 2015 can continue through 2017.</p> <p> “Our market position remains strong. I am confident that our focus on delivering value through our asset life cycle solutions and specialist technical solutions together with our customer relationships, global footprint, and strong financial footing position us well over the longer term,” Watson added.</p> <p> In Tuesday’s early deals the group’s shares were down 75p, 9.17%, changing hands at 744p.</p>   Wood Group says the oil and gas market continues to present challenges for services companies, and it is expecting only a modest recovery in key markets like US onshore and new offshore ventures. It comes as it reported a 22% drop in earnings, to US$363mln from US$470mln, in 2016 after revenues reduced 15% to US$4.93bn from US$5.8bn.  NEWS          View Edit Delete
173443  Asiamet Resources 2017-02-21 08:13:00  2017-02-21 08:17:33  2017-02-21 08:17:33  Asiamet strengthens board with appointment of Peter Bird  Asiamet strengthens board with appointment of Peter Bird  BKM, copper    asiamet-strengthens-board-with-appointment-of-peter-bird-173443.html    <p> As <a href="-##!##-/LON:ARS/Asiamet-Resources/" class="companyPopupTrigger" rel="532">Asiamet Resources</a> Ltd (<a href="-##!##-/LON:ARS/Asiamet-Resources/" class="companyPopupTrigger" rel="532">LON:ARS</a>) transitions from pure exploration into a more development-oriented phase, the company’s chief executive Tony Manini has decided to assume the position of Executive Chairman.</p> <p> Peter Bird will join the board as chief executive.</p> <p> Bird brings with him wide experience in mining finance, having held positions at Western Mining Corporation, Merrill Lynch Equities and <a href="-##!##-/ASX:NMC/Newmont-Mining/" class="companyPopupTrigger" rel="14718">Newmont Mining</a>. He has held senior executive roles at <a href="-##!##-/ASX:NCM/Newcrest-Mining/" class="companyPopupTrigger" rel="2337">Newcrest Mining</a> and Normandy Mining, two of Australia's largest gold producers with substantial operations in Indonesia, which is also where Asiamet holds its assets.</p> <p> Bird was most recently the managing director of Heemskirk Consolidated, an Australian listed producer of industrial minerals in Canada.</p> <p> “The addition of Peter's experience across all facets of the mining business in both major and junior company environments including recent project financing and development experience is highly relevant to Asiamet's current status,” said Manini.</p> <p> “As a top rated mining analyst, investor relations manager and Managing Director his extensive capital markets experience will prove highly beneficial as we look to further expand our investor base. It speaks volumes for the quality of our project portfolio and team that Peter has elected to join Asiamet at this time and we warmly welcome him to the Company."</p> <p> &nbsp;</p>   As Asiamet Resources Ltd (LON:ARS) transitions from pure exploration into a more development-oriented phase, the company’s chief executive Tony Manini has decided to assume the position of Executive Chairman. Peter Bird will join the board as chief executive.  NEWS        View Edit Delete
173444  Capita Group 2017-02-21 08:11:00  2017-02-21 08:19:36  2017-02-21 08:19:36  Outsourcing group Capita takes £50mln impairment after writing-down historic contracts  Outsourcing group Capita takes £50mln impairment after writing-down historic contracts  FTSE 100, outsourcing group, Capita Group PLC, lose £40mln of income, writing-down value, number of historic contracts, trading in line with guidance    outsourcing-group-capita-takes-50mln-impairment-after-writing-down-historic-contracts-173444.html    <p> Under-pressure outsourcing group <a href="-##!##-/LON:CPI/Capita-Group/" class="companyPopupTrigger" rel="3285">Capita Group</a> PLC (<a href="-##!##-/LON:CPI/Capita-Group/" class="companyPopupTrigger" rel="3285">LON:CPI</a>) will lose around £40mln of income after writing-down the value of a number of historic contracts although it said that aside from that trading is in line with the guidance it gave in December.</p> <p> The FTSE 100-listed firm, which downgraded its profit forecasts twice in three months at the end of 2016, said assets of around £50mln will be written off as a non-underlying charge.</p> <p> It added that accrued income of around £40mln will also be written down as a charge.</p> <p> The group said the date back to 2009, with the majority relating to the period between 2012 and 2014.</p> <p> In a statement, Capita said: “These impairments will have no adverse impact on cash or future trading.”</p> <p> It added: “Excluding the impact of accrued income written down, our guidance regarding trading performance for 2016 remains as last stated on 8 December 2016.”</p> <p> But Shore Capital analyst Robin Speakman said: “We remain concerned over further write downs pertaining to the c£2.2bn of goodwill from acquisitions on Capita’s balance sheet and over implications for the group’s shareholder return strategy.”</p> <p> He repeated a ‘sell’ rating on Capita.</p> <p> In opening deals, Capita shares shed over 3%, or 16.9p at 497.1p.</p>   Under-pressure outsourcing group Capita Group PLC will lose around £40mln of income after writing-down the value of a number of historic contracts although it said that aside from that trading is in line with the guidance it gave in December. The FTSE 100-listed firm said assets of around £50mln will be written off as a non-underlying charge  ARTICLE            View Edit Delete
173441  Mporium Group PLC 2017-02-21 08:07:00  2017-02-21 08:10:19  2017-02-21 08:10:19  mporium to showcase its IMPACT product to City audience  mporium to showcase its IMPACT product to City audience      mporium-to-showcase-its-impact-product-to-city-audience-173441.html    <p> mporium Group plc (<a href="-##!##-/LON:MPM/Mporium-Group-PLC/" class="companyPopupTrigger" rel="8257">LON:MPM</a>), the mobile commerce specialist, is showcasing its most advanced piece of technology to a City audience later Tuesday.</p> <p> Chief executive Barry Moat, Nelius De Groot (chief operating officer) and Dave Clarke (chief commercial officer) will provide an “in-depth insight” into company’s IMPACT product for digital agencies.</p> <p> Also on hand will be Rob Pierre, boss of Jellyfish, a digital agency that will offer the mporium breakthrough to some of its major clients.</p> <p> The announcement came alongside a progress report that revealed its two core products - IMPACT and INSIGHT - are now “deployed in production”.</p> <p> “During the period, the company's performance in terms of its growth strategy and financial position, including group revenues, have progressed in accordance with management expectations,” it said summing up its 2016 performance.</p> <p> Its financial results are expected in late April.</p> <p> <strong>*The capital markets event for investors and analysts takes place today at 3.00pm, Buchanan Communications, 107 Cheapside, London EC2V 6DN.</strong></p>   mporium Group plc (LON:MPM), the mobile commerce specialist, is showcasing its most advanced piece of technology to a City audience later Tuesday. Chief executive Barry Moat, Nelius De Groot (chief operating officer) and Dave Clarke (chief commercial officer) will provide an “in-depth insight” into company’s IMPACT product for digital agencies.  NEWS          View Edit Delete
173439  Vast Resources PLC 2017-02-21 08:04:00  2017-02-21 08:07:18  2017-02-21 08:07:18  Vast Resources highlights operational improvements in Romania and Zimbabawe  Vast Resources highlights operational improvements in Romania and Zimbabawe  gold, copper, Zimbabwe, Romania    vast-resources-highlights-operational-improvements-in-romania-and-zimbabawe-173439.html    <p> <a href="-##!##-/LON:VAST/Vast-Resources-PLC/" class="companyPopupTrigger" rel="26">Vast Resources PLC</a> (<a href="-##!##-/LON:VAST/Vast-Resources-PLC/" class="companyPopupTrigger" rel="26">LON:VAST</a>) has revealed significant operational improvements in a quarterly production summary for the period to 31 December 2016.</p> <p> In spite of severe weather in Romania, the company’s Manaila mine increased production of copper concentrate by 44% to 889 tonnes at an average grade of 19.5%. Production in zinc concentrate increased by 371% to 165 tonnes, at an average of 30% zinc.</p> <p> Realised prices for both metals also improved, while costs per tonne of concentrate produced fell by 40%.</p> <p> There was also progress at Baita Plai, where the commissioning of Vast’s third mine is planned, and at the nearby Feneata tailings project, which will be the subject of a feasibility study in the second half of the year.</p> <p> Meanwhile, over at Pickstone-Peerless in Zimbabwe, Vast booked a decrease in operating costs to US$619 per ounce, down from US$686 in the previous quarter. However, gold production fell to 4,356 ounces, as heavy rainfall restricted mining operations.</p>   Vast Resources PLC (LON:VAST) has revealed significant operational improvements in a quarterly production summary for the period to 31 December 2016. In spite of severe weather in Romania, the company’s Manaila mine increased production of copper concentrate by 44% to 889 tonnes at an average grade of 19.5%. Production in zinc concentrate increased by 371% to 165 tonnes, at grade of 30% zinc.  NEWS          View Edit Delete
173442  Ortac Resources Ltd 2017-02-21 08:01:00  2017-02-21 08:11:54  2017-02-21 08:11:54  Ortac welcomes welcomes private equity interest in Eritean partner  Ortac welcomes welcomes private equity interest in Eritean partner  Eritrea, partner, investment,     ortac-welcomes-welcomes-private-equity-interest-in-eritean-partner-173442.html    <p> Ortac Resources PLC's (<a href="-##!##-/LON:OTC/Ortac-Resources-Ltd/" class="companyPopupTrigger" rel="3739">LON:OTC</a>) stake in Eritrean exploration partner Andiamo&nbsp;has been reduced by a funding backed by a venture capital group.</p> <p> Andiamo raised US$0.5mln in consideration for the termination of its joint venture arrangement with Environminerlas East Africa Limited.</p> <p> Emerald Ex subscribed for 5mln new shares in Andiamo at US$10c per share, which reduces Ortac’s stake in Andiamo to 18.48%.&nbsp;&nbsp;</p> <p> Vassilios Carellas, Ortac's chief executive, said: "We welcome this development which enables Andiamo to continue exploration to the South of the very successful Bisha mine and brings a strong private equity group on to the share register.”</p> <p> Emerald is a subsidiary of NurtureEx, which is funded by African Mineral Exploration and Development (AMED), &nbsp;a private equity group that invests in mineral exploration and development projects predominately in sub-Saharan Africa.</p> <p> NurtureEx has been involved in Andiamo since early 2014 as an investor in EEAL.</p>   Vassilios Carellas, Ortac's chief executive, said: "We welcome this development which enables Andiamo to continue exploration to the South of the very successful Bisha mine and brings a strong private equity group on to the share register.” Emerald is a subsidiary of NurtureEx, which is funded by African Mineral Exploration and Development (AMED).  NEWS          View Edit Delete
173440  Capital Drilling Ltd 2017-02-21 07:58:00  2017-02-21 08:09:21  2017-02-21 08:09:21  Capital Drilling reshuffles executive team after CEO Parsons heads back to Oz  Capital Drilling reshuffles executive team after CEO Parsons heads back to Oz      capital-drilling-reshuffles-executive-team-after-ceo-parsons-heads-back-to-oz-173440.html    <p> Mark Parsons, chief executive officer (CEO) of Capital Drilling Limited (<a href="-##!##-/LON:CAPD/Capital-Drilling-Ltd/" class="companyPopupTrigger" rel="3747">LON:CAPD</a>), is to retire from executive employment by the end of the month.</p> <p> He plans to return to his home in Australia and focus on non-executive opportunities.</p> <p> With Parsons moving on from the drilling services provider, Brian Rudd will assume responsibility for the company's Exploration Division, while Stuart Thomson will be responsible for the Production Division. Both positions will report directly to the executive chairman, Jamie Boyton.</p> <p> Rudd, a co-founder of the company, is already an executive director of the company. He has in excess of 30 years’ experience in the mining industry in both Australia and Africa.</p> <p> Thomson joined Capital Drilling in March 2016 as executive general manager of Business Development. He has more than 25 years' experience in both mining and mining service companies.</p>   Mark Parsons, CEO of Capital Drilling, is to retire from executive employment by the end of the month. He plans to focus on non-executive opportunities. With Parsons moving on from the drilling services provider, Brian Rudd will assume responsibility for the company's Exploration Division, while Stuart Thomson will be responsible for the Production Division.   NEWS          View Edit Delete
173438  Intercontinental Hotels 2017-02-21 07:55:00  2017-02-21 08:01:21  2017-02-21 08:01:21  InterContinental Hotels lifts dividend as full year earnings rise  InterContinental Hotels lifts dividend as full year earnings rise  Crowne Plaza, Holiday Inn, hotels, earnings, full year, dividend     intercontinental-hotels-lifts-dividend-as-full-year-earnings-rise-173438.html    <p> InterContinental Hotels Group plc (<a href="-##!##-/LON:IHG/Intercontinental-Hotels/" class="companyPopupTrigger" rel="3143">LON:IHG</a>) has raised its dividend 11% after achieving an increase in full year underlying revenue and adjusted earnings.</p> <p> The owner of Holiday Inn and Crowne Plaza lifted its <a href="-##!##-/NYSE:TOT/Total/" class="companyPopupTrigger" rel="12896">Total</a> dividend per share to 94c from 85c and proposed a $400mln special dividend.</p> <p> Underlying adjusted earnings per share in the year to 31 December 2016 rose 23.1% to 203.1c from 165c the previous year, while revenues grew 4.6% to $1.58bn from $1.51bn.</p> <p> Total underlying revenue was boosted a 1.8% increase in global revenue per available room and a 2.3% rise in fee revenue. The group fee margin edged up 3.3 percentage points to 48.8%.</p> <p> On a reported basis, however, revenue declined 4.9% to $1.72bn from $1.80bn, reflecting the sale of InterContinental Paris - Le Grand in 2015 and a drop in revenues in the Asia, Middle East and Africa region.</p> <p> Basic earnings per ordinary share also decreased 62.4% to 195.3c from 520c after paying a $1.5bn special dividend in May 2016. Year-end debt rose to $1.50bn from $977mln due to the special dividend, the company said.</p> <p> “The fundamentals for the hospitality industry remain compelling,” said chief executive Richard Solomons.</p> <p> “Despite the uncertain environment in some markets, we remain confident in the outlook for the year ahead, as well as our ability to deliver sustainable growth into the future."</p> <p> Shares rose 0.11% to 3,882.14p in morning trade.&nbsp;</p>   InterContinental Hotels Group plc (LON:IHG) has raised its dividend 11% after achieving an increase in full year underlying revenue and adjusted earnings. The owner of Holiday Inn and Crowne Plaza lifted its total dividend per share to 94c from 85c and proposed a $400mln special dividend.  NEWS          View Edit Delete
173436  Bacanora Minerals Ltd 2017-02-21 07:43:00  2017-02-21 07:52:19  2017-02-21 07:52:19  Bacanora puts down European marker with German lithium buy  Bacanora puts down European marker with German lithium buy  lithium, Germany, acquisition, Zinnwald    bacanora-puts-down-european-marker-with-german-lithium-buy-173436.html    <p> AIM-listed junior Bacanora (<a href="-##!##-/LON:BCN/Bacanora-Minerals-Ltd/" class="companyPopupTrigger" rel="8480">LON:BCN</a> CVE:BCN) is to take a 50% stake in the Zinnwald&nbsp;lithium project in Germany with the option to take full ownership within two years.</p> <p> Mark Hohnen, chairman, said: "Zinnwald is a strategic asset located in close proximity to a thriving market for lithium and energy products.”</p> <p> Bacanora also owns the Sonora lithium deposit in Mexico and this remained at the heart of the portfolio said Hohnen, but Zinnwald provided exposure to an exciting new geographic market and adds hard rock mineralisation to the portfolio.&nbsp;</p> <p> Zinnwald, in southern Saxony, is currently owned by SolarWorld, the largest solar panel producer in Europe.&nbsp;</p> <p> The deposit has historically been a producer of lithium carbonate in a belt that also contains tungsten and tin, but it is the location that has seemingly attracted Bacanora.</p> <p> German demand for lithium is growing rapidly says Bacanora, as development of electric cars and renewable energy storage builds momentum.</p> <p> The consideration is €5mln plus a further €5mln contribution towards the cost of completing a feasibility study, which will take 18-24 months</p> <p> Bacanora also has a two year option to take full control for a further €30mln.&nbsp;</p> <p> Hohnen said the project will complement Sonora where a feasibility study is on track for completion in 2017 and negotiations are underway for offtake deals with groups in Asia.</p>   The deposit has historically been a producer of lithium carbonate in a belt that also contains tungsten and tin, but it is the location that has seemingly attracted Bacanora. German demand for lithium is growing rapidly says Bacanora, as development of electric cars and renewable energy storage builds momentum.  ARTICLE            View Edit Delete
173432  Eland Oil & Gas PLC 2017-02-21 07:29:00  2017-02-21 07:34:36  2017-02-21 07:34:36  Eland Oil & Gas's crude shipping continues to be successful in Nigeria  Eland Oil & Gas's crude shipping continues to be successful in Nigeria      eland-oil-gas-s-crude-shipping-continues-to-be-successful-in-nigeria-173432.html    <p> <a href="-##!##-/LON:ELA/Eland-Oil-%26amp%3B-Gas-PLC/" class="companyPopupTrigger" rel="1653">Eland Oil &amp; Gas PLC</a>’s (<a href="-##!##-/LON:ELA/Eland-Oil-&-Gas-PLC/" class="companyPopupTrigger" rel="1653">LON:ELA</a>) crude shipping operation continues to be successful, and the company now believes it should be able to handle higher volumes.</p> <p> Nigeria focussed Eland told investors that has now produced some 150,000 barrels of oil since starting the operation in late January and it continues to ramp up successfully.</p> <p> The first oil shuttle delivered 39,000 barrels to the terminal last week, a second shuttle vessel has since arrived with 40,000 barrels. The relay continues, as shuttle one is presently on the way back to the terminal with a further 40,000 barrel shipment.</p> <p> Eland told investors that the cycle of crude deliveries is expected to continue, and it has the capacity to handle more oil as additional wells are brought online at the Opuama field.</p> <p> Chief executive George Maxwell said: “we have designed and engineered a unique and dedicated alternative export route via shipping due to the prolonged shut-in at Forcados Terminal.</p> <p> “This has involved significant capital and operational challenges and it is of enormous credit to our staff and all our partners that we are able to report that we have completed a full export cycle with one vessel, which it now en route to the export terminal for the second time carrying our third cargo.</p> <p> “Since we started loading the first vessel we have shipped nearly 120,000 barrels in under 2 weeks; which is an enormous achievement and a huge success for all our stakeholders."</p> <p> The company now expects its cash position to improve substantially as crude deliveries continue.</p> <p> It highlighted that significant upfront investments were made to establish the shipping route. The current cash balance amounts to US$5.9mln, including a US$4.3mln reserve, and the company is continuing talks with its lenders over its borrowing base.</p>   Eland Oil & Gas’s crude shipping operation continues to be successful, and the company now believes it should be able to handle higher volumes. Nigeria focussed Eland told investors that has now produced some 150,000 barrels of oil since starting the operation in late January and it continues to ramp up successfully.  ARTICLE            View Edit Delete
173411  Mkango Resources Ltd 2017-02-20 12:32:00  2017-02-20 12:35:13  2017-02-20 12:35:13  Mkango says all AGM business approved  Mkango says all AGM business approved      mkango-says-all-agm-business-approved-173411.html    <p> Dual-listed <a href="-##!##-/LON:MKA/Mkango-Resources-Ltd/" class="companyPopupTrigger" rel="6737">Mkango Resources Ltd</a> (LON:MKA, CVE:MKA) announced on Monday the results of its annual general meeting of shareholders held on February 16.</p> <p> All business put forward at the Meeting was approved by the shareholders of the Corporation.</p> <p> This included: the re-election of Derek Linfield, William Dawes, Alexander Lemon, David Berg, Eugene Chen and Adrian Reynolds as Directors of the Corporation; re-appointment of Meyers Norris Penny LLP as auditors of the Corporation and the approval of the stock option plan of the Corporation in accordance with the policies of the TSX Venture Exchange.</p>   Dual-listed Mkango Resources Ltd (LON:MKA, CVE:MKA) announced on Monday the results of its annual general meeting of shareholders held on February 16. All business put forward at the Meeting was approved by the shareholders of the Corporation. This included the re-election of Derek Linfield, William Dawes, Alexander Lemon, David Berg, Eugene Chen and Adrian Reynolds as Directors.  NEWS        View Edit Delete
173407  SyndicateRoom 2017-02-20 15:53:00  2017-02-20 16:11:48  2017-02-20 15:56:34  Investors missing out on benefits of early stage firms, says SyndicateRoom  Investors missing out on benefits of early stage firms, says SyndicateRoom      investors-missing-out-on-benefits-of-early-stage-firms-says-syndicateroom-173407.html    <p> Many investors are missing out on tax efficient products aimed at early-stage companies, but younger people are making use of them in the current low-yield environment.</p> <p> This is according to online investment specialist <a class="companyPopupTrigger" href="-##!##-/PRIVATE:SYD/SyndicateRoom/" rel="14524">SyndicateRoom</a>, which offers access to early stage companies.</p> <p> New research shows that around one in ten retail investors have put their cash into products aimed at early-stage companies in the past year, including Venture Capital Trusts (VCTs), the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS).</p> <p> Knowledge about these products is much higher for those aged 18–30, as well as for those with more than £1mln in investments.</p> <p> Millennials, generally seen as born post 1980, are twice as likely to embrace early-stage investing as a means of reaching their financial goals than 51 year olds and older, it said, with 92% of investors aged 18–30 believing a portfolio of diversified early-stage equities would help them achieve their long-term financial goals, compared to 49% in the older category.</p> <p> Chief executive of <a class="companyPopupTrigger" href="-##!##-/PRIVATE:SYD/SyndicateRoom/" rel="14524">SyndicateRoom</a> Gonçalo de Vasconcelos said: "This belief in the value of Britain’s young companies and business ideas by those who will control the economy of tomorrow is highly encouraging.</p> <p> He added: "Many investors are having to look at alternative routes to get the capital growth they need to reach their financial goals, in today’s low-yield economic environment.</p> <p> "As part of this move, many are willing to take on additional risk in order to meet their goals.</p> <p> "It is hugely important that any retail investor considering an investment in early-stage businesses makes sure they are able to take advantage of the generous tax breaks when doing so, as this can have a material impact on returns and, in turn, lead to them reaching their goals quicker.”</p> <p> MP Mark Field, a former chairman of the All-Party Parliamentary Group on Venture Capital and Private Equity, said: " &nbsp;The Enterprise Investment Scheme (EIS) is designed to offer a stimulus for Britain’s ambitious small and medium businesses and provides a burgeoning asset class for British investors.</p> <p> "EIS also plays a role in bringing forward the kinds of technological innovations that will be so important to maintaining Britain’s competitive advantage in business and finance on the world stage."</p>   Many investors are missing out on tax efficient products aimed at early-stage companies, but younger people are making use of them in the current low-yield environment. This is according to online investment specialist SyndicateRoom, which offers access to early stage companies.   NEWS          View Edit Delete
173408  Abzena plc 2017-02-20 15:46:00  2017-02-21 07:11:31  2017-02-20 16:05:10  Busy Abzena makes strong start to the year   Busy Abzena makes strong start to the year       busy-abzena-makes-strong-start-to-the-year-173408.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:ABZA/Abzena-plc/" rel="10658">Abzena plc</a> (<a class="companyPopupTrigger" href="-##!##-/AIM:ABZA/Abzena-plc/" rel="10658">AIM:ABZA</a>) kicked off the year with intent when it unveiled an agreement with an unnamed San Diego biopharmaceutical company worth up to US$300mln to license out its ThioBridge technology.</p> <p> It is the second major deal of this kind in the space of year for Abzena following its tie-up with NASDAQ-listed Halozyme Therapeutics (<a class="companyPopupTrigger" href="-##!##-/NASDAQ:HALO/Halozyme-Therapeutics-Inc/" rel="4176">NASDAQ:HALO</a>), which is worth up to US$150mln in staged payments.</p> <p> ThioBridge is an antibody drug conjugate linker, which, in layman’s terms, means it attaches antibodies and other proteins to drugs.</p> <ul> <li> <h3> <a href="http://www.proactiveinvestors.co.uk/companies/stocktube/6775/abzena-plc-chief-hails-thiobridge-technology-agreement-6775.html" target="_blank">WATCH: CEO gives his verdict on the laest deal</a></h3> </li> <li> <h3> <a href="http://www.proactiveinvestors.co.uk/companies/rns/170131abza6196v" onclick="window.open(this.href, '', 'resizable=no,status=no,location=no,toolbar=no,menubar=no,fullscreen=no,scrollbars=no,dependent=no'); return false;">READ: The latest Abzena research</a></h3> </li> </ul> <p> The platform is unique in its ability to maintain the stability of the antibody and a consistent drug-to-antibody ratio, which provides a more consistent, stable product.</p> <p> The deal covered 10 potential antibody drug conjugates (ADCs) across a wide range of illnesses and diseases.</p> <p> Abzena also entered what’s called a master agreement, which allows multiple programmes to be carried out over an extended period using the company’s chemistry services.</p> <h3> Twin approach</h3> <p> The company operates a hybrid model, which means its revenues come from providing antibody research and engineering services and creating drug conjugates (targeted treatments for diseases such as cancer). It also manufactures antibodies and proteins for clinical studies.</p> <p> Where Abzena applies its technology to re-engineer a partner’s product it might earn licence fees, milestone payments and even royalties if a drug makes it to the market. Where its technology is embedded, the firm calls these ‘Abzena inside’ products.</p> <p> According Numis Securities it offers a one-stop shop for the industry.</p> <h3> Hitting its stride&nbsp;</h3> <p> The City broker said the last financial results revealed the business was really “hitting its stride”.</p> <p> Numis expects the business to post sales of £19.5mln for 2016/17, rising to £23.8mln and then £26.6mln.</p> <p> “Abzena has been building out an integrated business model, with a strong reputation in biology and chemistry research services and growing manufacturing capability that has been stepped up through acquisition and is the focus of its capex investment,” said Numis analyst Stefan Hamill.</p> <p> He added that customers were “responding well” to the biotech’s broader offering, which was reflected in the level of repeat business.</p> <h3> Plenty of upside</h3> <p> Numis values the shares at 90p each, which chimes with recent research put out by N+1 Singer, which set a 93p price target. The stock is currently changing hands for less than 40p.</p> <p> “The extension of Abzena’s services offering has continued to drive customer demand, with new services acquired by existing customers representing a significant proportion of the 185 projects undertaken during the first half,” said analyst N+1’s Jens Lindqvist.</p>   The company operates a hybrid model, which means its revenues come from providing antibody research and engineering services and creating drug conjugates (targeted treatments for diseases such as cancer). It also manufactures antibodies and proteins for clinical studies.  ARTICLE          View Edit Delete
173405  Greatland Gold 2017-02-20 15:36:00  2017-02-20 15:45:29  2017-02-20 15:41:23  Greatland Gold to start drilling nickel target in WA  Greatland Gold to start drilling nickel target in WA  drilling, Western Australia, nickel    greatland-gold-to-start-drilling-nickel-target-in-wa-173405.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:GGP/Greatland-Gold/" rel="404">Greatland Gold</a> PLC (<a class="companyPopupTrigger" href="-##!##-/LON:GGP/Greatland-Gold/" rel="404">LON:GGP</a>) is readying to drill two nickel sulphide targets identified by downhole electromagnetics at&nbsp;its Bromus project in Western Australia.</p> <p> An application has been lodged with the Western Australian mining department, with the programme to target several highly conductive targets not intersected by a drilling campaign last year.</p> <p> Two of these targets are relatively shallow, well constrained by modelling and are located close to drill holes BRD001 and BRD003 so the drills will utilise existing drill pads.&nbsp;</p> <p> Gervaise Heddle, chief executive , said the two targets are particularly appealing because they are well defined, relatively shallow (approximately 100 metres below the surface) and can be drilled using existing drill pads.</p> <p> &nbsp;“Approvals are expected within the next four weeks and we expect drilling to commence in late March 2017. "</p>   Gervaise Heddle, chief executive , said the two targets are particularly appealing because they are well defined, relatively shallow (approximately 100 metres below the surface) and can be drilled using existing drill pads. “Approvals are expected within the next four weeks and we expect drilling to commence in late March 2017. "  NEWS          View Edit Delete

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