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110504  Keywords Studios 2015-09-03 11:55:00  2015-09-03 15:43:37  2015-09-03 11:56:59  Keywords Studios ‘significantly expanded’ by art acquisitions, Numis says  Keywords Studios ‘significantly expanded’ by art acquisitions, Numis says      keywords-studios-significantly-expanded-by-art-acquisitions-numis-says-110504.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:KWS/Keywords-Studios/" rel="722">Keywords Studios</a> (LON:KYS) significantly expanded its business with the recent acquisition of game art outsourcer Liquid Development, says Numis Securities analyst Will Wallis.</p> <p> Game art is now a material part of the Keywords business, which had started around audio services and testing for game development studios, he added.</p> <p> Liquid Development and Lakshya, an Indian art contractor acquired previously, together will represent around 17% of pro-forma revenue for 2015, the analyst points out.</p> <p> Albeit, he also highlights that Liquid Development’s revenue contribution will be phased and as such any impact for the current financial year will be limited.</p> <p> “Art outsourcing is a large (c.$1.2bn) and rapidly growing market, reflecting both the increasing complexity of video game animation driven by increasingly powerful hardware, and increased outsourcing by game developers,” Wallis said.</p> <p> “We expect Liquid to continue to provide a predominantly onshore service, while also using some aspects of Lakshya's offshore-based capabilities.”</p> <p> Wallis rates Keywords as a ‘buy’ with a 200p price target, which suggests some 30% of possible upside to the current price of 154p.</p> <p> “We continue to believe that this is excellent value given the group's strong organic progression (c.20% organic revenue CAGR over 2012-14), added to what we believe is a value-creative acquisition approach and its global market leadership in outsourcing to the video games industry,” he added.</p>   Keywords Studios significantly expanded its business with the recent acquisition of game art outsourcer Liquid Development, says Numis Securities analyst Will Wallis. Game art is now a material part of the Keywords business, which had started around audio services and testing for game development studios, he added.  NEWS          View Edit Delete
110503  Empresaria Group plc 2015-09-03 11:46:00  2015-09-03 14:11:08  2015-09-03 11:54:06  Empresaria impresses and ups guidance despite currencies  Empresaria impresses and ups guidance despite currencies  recruitment, results    empresaria-impresses-and-ups-guidance-despite-currencies-110503.html    <p> Recruitment firm Empresaria (<a class="companyPopupTrigger" href="-##!##-/LON:EMR/Empresaria-Group-plc/" rel="315">LON:EMR</a>) expects to beat market estimates this year after a strong first half, despite currency head-winds in a number of areas.</p> <p> The group, which supplies permanent and temporary staff in 18 countries, said net fee income rose by 12% over the six months to June as the number of permanent placements in finance continued to rise.</p> <p> Profits jumped 35% to £2.7mln or by 44% on a constant currency basis.</p> <p> Sales overall edged lower to £92.4mln (£94mln), but within that number permanent sales rose to 47% of the total, up from 40%.</p> <p> Temporary revenues fell 5% due to the weak euro and decision to exit small businesses in the Czech Republic, Slovakia and Malaysia, but Empresaria said it will invest to rebuild the proportion of temporary income as a proportion of the total.</p> <p> Joost Kreulen, chief executive, added the improved quality of the group’s revenue was not showing in overall growth at present, but it would drive future improvements in profitability.&nbsp;</p> <p> "Based on performance to date, we are confident that results for the full year will be ahead of current market expectations,” he added.</p> <p> Broker Panmure Gordon raised its estimate for profits for the full year to £7.3mln on the back of the interims.</p> <p> Adrian Kearsay, an analyst at the broker, said: “Given the on-going progress we can see the share price doubling (perhaps trebling, +3 year view).</p> <p> “One third of the upside [will be] driven by earnings growth, the remaining from an expansion in the earnings multiple.”</p> <p> His current price target is 125p and he has a 'buy' rating.</p> <p> Shares rose by 11% to 79.9p.</p>   Joost Kreulen, chief executive, added the improved quality of the group’s revenue was not showing in overall growth at present, but it would drive future improvements in profitability. "Based on performance to date, we are confident that results for the full year will be ahead of current market expectations,” he added.  ARTICLE            View Edit Delete
110490  Redx Pharma 2015-09-03 08:10:00  2015-09-03 13:38:52  2015-09-03 08:15:09  Redx and Horizon combine on next-gen cancer treatment  Redx and Horizon combine on next-gen cancer treatment  drug, cancer. RAF-inhibitor    redx-and-horizon-combine-on-next-gen-cancer-treatment-110490.html    <p> <strong>---ADDS BROKER COMMENT AND SHARE PRICE---</strong></p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:REDX/Redx-Pharma/" rel="10667">Redx Pharma</a> (<a class="companyPopupTrigger" href="-##!##-/LON:REDX/Redx-Pharma/" rel="10667">LON:REDX</a>) and Horizon Discovery (<a class="companyPopupTrigger" href="-##!##-/LON:HZD/Horizon-Discovery-Group/" rel="8409">LON:HZD</a>) are teaming to co-develop a next generation cancer treatment.</p> <p> Horizon’s gene editing, cell line and drug discovery technology will be used to assess the mode of action of Redx’s pan-RAF inhibitors.</p> <p> The plan is to “rapidly move this rare class of compounds towards partnering”.</p> <p> Pan-RAF inhibitors are part of a new class of drugs that target a wider range of biological pathways in order to kill cancer cells. They have been shown to halt the growth of resistant tumours.</p> <p> Trials are currently ongoing assessing their use in malignant melanoma, while Redx and Horizon will investigate their potential deployment in the colorectal cancer.</p> <p> Horizon said it expects the partnership to deliver a “material return” on its investment from any up-front payment, a share of future milestones and a slice of future product royalties</p> <p> Redx boss Neil Murray told investors: “Our partnership will enable us to detail at molecular level the effects of our pan-RAF inhibitors and help to progress this very promising programme as we seek to secure a licence partner for this asset."</p> <p> Horizon shares spiked 7% to 157.2p, while Redx was up 3% at 112p.</p> <p> Repeating its ‘buy’ recommendation on Horizon, City broker N+1 Singer said: “Although still at a pre-clinical stage of development, we believe that <a class="companyPopupTrigger" href="-##!##-/LON:REDX/Redx-Pharma/" rel="10667">Redx Pharma</a>’s novel pan-RAF programme has the potential of generating significant longer-term returns on Horizon’s investment through a partnering deal.</p> <p> “We continue to expect Horizon Discovery to over time expand its portfolio of similar value-sharing agreements.”</p>   Redx Pharma (LON:REDX) and Horizon Discovery (LON:HZD) are teaming to co-develop a next generation cancer treatment. Horizon’s gene editing, cell line and drug discovery technology will be used to assess the mode of action of Redx’s pan-RAF inhibitors.  ARTICLE            View Edit Delete
110502  Premier Oil 2015-09-03 11:17:00  2015-09-03 13:32:47  2015-09-03 11:23:35  Premier Oil’s Solan may not recoup costs, says broker  Premier Oil’s Solan may not recoup costs, says broker      premier-oils-solan-may-not-recoup-costs-says-broker-110502.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:PMO/Premier-Oil/" rel="3125">Premier Oil</a>’s (<a class="companyPopupTrigger" href="-##!##-/LON:PMO/Premier-Oil/" rel="3125">LON:PMO</a>) supposed key asset, the soon-to-be-completed Solan field, is actually a thorn in the company’s side, says Numis Securities analyst Sanjeev Bahl.</p> <p> Bahl, in a note, says that the project is now set to cost about US$1.85bn – which is equivalent to 240p per share, or US$44 per barrel – and that means it looks like a project that will “struggle to recoup its cost” given current oil prices.</p> <p> “A significant reduction in unit opex and peer-leading operational efficiency helped Premier deliver strong post-hedge cash flows in 1H15, however, much of this cash flow continues to be directed towards the completion of Solan - a US$1.85bn project that will struggle to recoup its monumental capex bill,” he added.</p> <p> That said, Numis retains a ‘buy’ recommendation for the oil share.</p> <p> Bahl, as a caveat to the recommendation, warns that investors in Premier really need to believe in a +US$70 per barrel oil price.</p> <p> “We see little value for equity holders if oil prices were to remain below 60$/bbl in the absence of significant cost deflation,” he added.</p> <p> “Premier remains one of the more leveraged stocks to oil price amongst our coverage driven by net debt of $2.1bn.”</p> <p> The broker’s target price of 152p implies some 50% of possible upside to the current price of 99.6p.</p> <p> Solan, in the North Sea, is due to start producing in the latter part of this year. The wholly owned field has some 44mln barrels of reserves and once online it is expected to ramp up to a peak production rate of 25,000 barrels per day.</p>   Premier Oil’s supposed key asset, the soon-to-be-completed Solan field, is actually a thorn in the company’s side, says Numis analyst Sanjeev Bahl. In a note, he says the project is now set to cost about US$1.85bn – which is equivalent to 240p per share, or US$44 per barrel – and that means it looks like a project that will “struggle to recoup its cost” given current oil prices.  ARTICLE            View Edit Delete
110501  AGA Rangemaster 2015-09-03 11:10:00  2015-09-03 11:20:04  2015-09-03 11:20:04  Aga bidder Middleby moves to head off rival approach  Aga bidder Middleby moves to head off rival approach  Aga Rangemaster, Middleby, Whirlpool    aga-bidder-middleby-moves-to-head-off-rival-approach-110501.html    <p> The US company bidding for Aga Rangemaster (<a href="-##!##-/LON:AGA/AGA-Rangemaster/" class="companyPopupTrigger" rel="3807">LON:AGA</a>) fired a shot across the bows of rival bidder <a href="-##!##-/NYSE:WHR/Whirlpool/" class="companyPopupTrigger" rel="7245">Whirlpool</a> as it urged the cooker maker's investors to accept its offer.</p> <p> Middleby Corp, which has offered 185p per share for Aga, issued a statement confirming it was pressing ahead with its recommended bid despite <a href="-##!##-/NYSE:WHR/Whirlpool/" class="companyPopupTrigger" rel="7245">Whirlpool</a>'s interest.</p> <p> US appliance maker <a href="-##!##-/NYSE:WHR/Whirlpool/" class="companyPopupTrigger" rel="7245">Whirlpool</a> announced on September 1 that it had approached Aga about a possible alternative offer.</p> <p> But Middleby noted that any offer from <a href="-##!##-/NYSE:WHR/Whirlpool/" class="companyPopupTrigger" rel="7245">Whirlpool</a> would be subject to conditions and there was no certainty that a formal bid would materialise.</p> <p> "By contrast, Middleby's acquisition has no regulatory or anti-trust conditions," it said.</p> <p> It added: "Middleby encourages Aga shareholders to consider the motivations of the approach by <a href="-##!##-/NYSE:WHR/Whirlpool/" class="companyPopupTrigger" rel="7245">Whirlpool</a>, in particular why it has waited until this late stage in the process to approach Aga.</p> <p> "Middleby urges Aga shareholders to be wary that there is no certainty <a href="-##!##-/NYSE:WHR/Whirlpool/" class="companyPopupTrigger" rel="7245">Whirlpool</a> will ultimately make any offer."</p> <p> Aga shareholder meetings to pave the way for the acquisition of Aga by Middleby are due to be held on September 8.</p> <p> "Middleby encourages all scheme shareholders to vote in favour of the scheme at the court meeting and Aga shareholders vote in favour of the special resolution to be proposed at the Aga general meeting," it said.</p> <p> Aga shares were up 0.63p at 208p in mid-morning trading in London.</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p>   Aga shareholder meetings to pave the way for the acquisition of Aga by Middleby are due to be held on September 8. "Middleby encourages all scheme shareholders to vote in favour of the scheme at the court meeting and Aga shareholders vote in favour of the special resolution to be proposed at the Aga general meeting," it said.   NEWS          View Edit Delete
110499  EKF Diagnostics 2015-09-03 11:03:00  2015-09-03 15:38:15  2015-09-03 11:10:23  EKF wins two new tenders for blood analysis devices  EKF wins two new tenders for blood analysis devices      ekf-wins-two-new-tenders-for-blood-analysis-devices-110499.html    <p> EKF Diagnostic Holdings (LON:EKF) has signed two new customers for its blood analysis device Hemo Control.</p> <p> In Turkey, humanitarian group Red Crescent has agreed to a three year deal worth just under US$1.1mln.</p> <p> EKF will supply the organisation, which runs the country’s blood banking service, with 668 analysers and 160,000 cuvettes, or sample holding tubes, over the life of the deal.</p> <p> In the US, the State of Colorado's Women, Infants and Children programme has agreed a five year deal worth US$450,000 for its HemoPoint analysers, with additional incremental tenders expected.</p> <p> Julian Baines, chief executive, said: “The haemoglobin testing market is highly competitive and in winning both of these accounts we have demonstrated once again that we have a world-class product that can compete with the market leader.</p> <p> He added more contracts are expected to be signed for the analyser in the near future.</p> <p> Hemo Control detects the level of red blood cells in sample and provides lab quality results (imprecision of less than 2%) within 25 seconds, according to the company.</p> <p> Broker finnCap made no changes to its forecasts, maintaining a 30p target price and reiterating its ‘Buy’ recommendation.</p> <p> Shares rose 2.5% to 22.4p today.</p>   Julian Baines chief executive, said: “The hemoglobin testing market is highly competitive and in winning both of these accounts we have demonstrated once again that we have a world-class product that can compete with the market leader. He added more tenders are expected to be signed for the analyser in the near future.  NEWS          View Edit Delete
110485  Easyjet 2015-09-03 10:15:00  2015-09-03 12:07:46  2015-09-03 07:50:38  EasyJet ups profit forecast after record August  EasyJet ups profit forecast after record August  EasyJet, airlines    easyjet-ups-profit-forecast-after-record-august-110485.html    <p> No-frills airline EasyJet (<a class="companyPopupTrigger" href="-##!##-/LON:EZJ/Easyjet/" rel="3155">LON:EZJ</a>) has upgraded its annual profit forecasts after hitting a monthly passenger record in August.</p> <p> EasyJet said it expected full-year profit to come in at between £675mln and £700mln, rather than the £620mln to £660mln previously forecast.</p> <p> Passenger numbers for August were 7.06 million, a record for the group and the second month in a row of more than seven million.</p> <p> The load factor - how full its aircraft were - for August was 94.4%, a new monthly record.</p> <p> EasyJet also had stronger than expected unit revenue for August and forecast a good September, due partly to particularly strong demand on beach routes favoured by UK passengers.</p> <p> The strong revenue more than offset significant cost head-winds with greater-than-expected disruption across the network particularly in April, the impact of two fires at Rome Fiumicino airport, a one-off £8mln settlement with European air traffic control authority Eurocontrol and costs linked to higher load factors.</p> <p> Chief executive Carolyn McCall said: "EasyJet was best placed to maximise the strong late summer demand from UK passengers to get away to beach and city destinations across Europe and will enable the airline to set new records for full year revenue and profit."</p> <p> Shares rose 96p to 1768p. Liberum Capital said the positive update was unexpected and reiterated its 'buy' advice on the airline with a target price of 1930p.</p> <p> However, Goodbody Stockbrokers voiced caution. It said there was a risk of&nbsp;heightened competition in the coming winter season and into next summer, given rival <a class="companyPopupTrigger" href="-##!##-/LON:RYA/Ryanair/" rel="3157">Ryanair</a>’s (<a class="companyPopupTrigger" href="-##!##-/LON:RYA/Ryanair-/" rel="3157">LON:RYA</a>) significant capacity additions and push into European primary airports.</p> <p> "As such, while the stock remains a 'hold' on our revised target price, our concerns on <a class="companyPopupTrigger" href="-##!##-/LON:RYA/Ryanair/" rel="3157">Ryanair</a> encroachment, cost inflation and declining return on capital employed remain key negatives," the Irish broker said.</p>   Chief executive Carolyn McCall said: "EasyJet was best placed to maximise the strong late summer demand from UK passengers to get away to beach and city destinations across Europe and will enable the airline to set new records for full year revenue and profit."  ARTICLE            View Edit Delete
110497  LONDON OPEN 2015-09-03 09:30:00  2015-09-03 09:48:07  2015-09-03 09:40:08  Eurozone stimulus hopes spur rise in London shares  Eurozone stimulus hopes spur rise in London shares  Markets, stocks, shares    eurozone-stimulus-hopes-spur-rise-in-london-shares-110497.html    <p> Hopes that the European Central Bank (ECB) may launch more pump-priming of the eurozone economy pushed London shares higher on Thursday.</p> <p> Traders were set to comb the ECB's monthly policy announcement for hints about whether president Mario Draghi sees the need for further quantitative easing.</p> <p> DailyFX currency strategist Ilya Spivak said: "With the Greece fiasco now on the backburner, traders will focus on the possibility that policymakers are mulling an expansion of stimulus efforts."</p> <p> Reduced market tension over Greece also helped to lift&nbsp;Eurozone services activity in August back to the four-year high in June after a dip in July.</p> <p> But the UK's service sector purchasing managers index fell to 55.6 last month from 57.4 previously, although any figure above 50 still denotes growth. Survey author Markit said it was the weakest rate of expansion in more than two years.</p> <p> Markit economist Chris Williamson said: "As such, the UK economy looks set to grow by 0.5% in the third quarter, down from 0.7% in the three months to June, with the ongoing upturn almost entirely dependent on the service sector."</p> <p> The FTSE 100 Index leapt 105.15 points to 6188 in early trading, helped not least by the fact that Chinese markets were closed for a bank holiday and World War II parade.</p> <p> The Dow Jones closed nearly 300 points, 1.8%, higher at 16,351 while the S&amp;P 500 similiarly added 1.8% to 1,948 and the Nasdaq gained 2.46% to 4,749.</p> <p> In corporate news, bus and train operator Go-Ahead (<a class="companyPopupTrigger" href="-##!##-/LON:GOG/Go-Ahead-Group/" rel="3195">LON:GOG</a>) backtracked 194p to 2342p after it warned of a year-long delay in hitting bus profit targets.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:BARC/Barclays/" rel="2989">Barclays</a> (<a class="companyPopupTrigger" href="-##!##-/LON:BARC/Barclays/" rel="2989">LON:BARC</a>) gained 4.1p to 257.9p as the banking group&nbsp;agreed to sell its retail banking, wealth and investment management businesses and part of its corporate banking business in Portugal to Bankinter.</p> <p> EasyJet (<a class="companyPopupTrigger" href="-##!##-/LON:EZJ/Easyjet/" rel="3155">LON:EZJ</a>) ascended 106p to 1778p after the budget carrier increased its profit forecast following a record August.</p> <p> Elsewhere, antibiotics group <a class="companyPopupTrigger" href="-##!##-/LON:MTFB/Motif-Bio/" rel="10670">Motif Bio</a> (<a class="companyPopupTrigger" href="-##!##-/LON:MTFB/Motif-Bio/" rel="10670">LON:MTFB</a>) was 5.5p healthier at 66.25p as the U.S. Food and Drug Administration granted fast-track designation for iclaprim intravenous (IV) to treat acute bacterial skin and skin structure infections and hospital-acquired bacterial pneumonia.</p>     REPORT            View Edit Delete
110495  Amphion Innovations 2015-09-03 09:05:00  2015-09-03 10:42:02  2015-09-03 09:12:42  Amphion Innovations' NAV gets some "motifation"  Amphion Innovations' NAV gets some "motifation"  IP, intellectual property, scanning    amphion-innovations-nav-gets-some-motifation--110495.html    <p> Medical and tech business developer <a class="companyPopupTrigger" href="-##!##-/LON:AMP/Amphion-Innovations/" rel="56">Amphion Innovations</a> (<a class="companyPopupTrigger" href="-##!##-/LON:AMP/Amphion-Innovations/" rel="56">LON:AMP</a>) saw its net asset value (NAV) per share race higher in the first half of the year.</p> <p> NAV per share at the end of June stood at 12p, up from 0.7p at the end of 2014, largely as a result of the flotation in April of one of its portfolio companies, <a class="companyPopupTrigger" href="-##!##-/LON:MTFB/Motif-Bio/" rel="10670">Motif Bio</a> (<a class="companyPopupTrigger" href="-##!##-/LON:MTFB/Motif-Bio/" rel="10670">LON:MTFB</a>), which was trading at 68.75p at the end of June, giving it a market value of around £74.5mln.</p> <p> Motif’s flotation sparked an adjustment to the value of Amphion’s assets, with a US$34.8mln uplift in “fair value” during the period resulting in a half-yeaqr profit before tax of US$33.15mln versus a loss the year before of US$8.1mln.</p> <p> Despite the shake-out in the market since it floated, Motif is trading just a few pence below its end-June level, having announced further good news today in the form of fast-track designation by the US Food and Drug Administration for its next generation antibiotic, Iclaprim.</p> <p> “We believe Motif has a very bright future and is now on its way to becoming a significant player in the antibiotic market, which has a growing need for novel therapies,” said Richard Morgan, chief executive (CEO) of Amphion.</p> <p> Amphion, which raised £1.54mln in June through a well-supported share placing, ended the reporting period with around US$1.7mln (£1.1mln) in cash and reduced total liabilities during the first half of the year by US$2.1mln.</p> <p> This has left the company in a position to explore the possibility, for the first time in many years, of adding to its portfolio of investments. In the meantime, “we now have the opportunity to move forward one or two other partner companies”, Morgan declared.</p> <p> “We look forward to the future with renewed confidence and to being able to report further progress with Motif, DataTern, and other partner companies in due course," the Amphion CEO said.</p> <p> The company has high hopes for medical imaging firm m2m, and expects to expand the core business, partly by combining with other emerging companies.</p> <p> Although the path for its computerised tomography (CT) scanning technology company <a class="companyPopupTrigger" href="-##!##-/LON:KMK/Kromek/" rel="4134">Kromek</a> (<a class="companyPopupTrigger" href="-##!##-/LON:KMK/Kromek/" rel="4134">LON:KMK</a>) has been bumpy, Amphion continues to believe in the potential of the company’s technology platform.</p> <p> Amphion owns 5.75% of <a class="companyPopupTrigger" href="-##!##-/LON:KMK/Kromek/" rel="4134">Kromek</a>.</p> <p> Much like an investment trust, Amphion is chiefly assessed on its NAV rather than revenue and profits.</p> <p> Revenue in the first half of the year edged up to US$267,601 from US$240,000 in the same period of 2014.</p> <p> The operating loss for the period was US$1.25mln, compared with US$1.77mln a year earlier, reflecting the company’s successful cost-cutting initiatives.</p> <p> “The board and management have supported Amphion through several lean years but the fact that we have been able to raise fresh equity capital is an encouraging development,” the company told investors.&nbsp;</p> <p> “The board is encouraged to progress with the development of Amphion's other partner companies and the IP [intellectual property] licensing programme, and looks forward to the future with confidence,” it added.</p> <p> Shares in Amphion were up 8.8% at 5.85p in the first hour of trading.</p>   Net asset value shot up from 0.7p per share at the end of 2014 to 12p at the end of June, showing the potential for value realisation that exists within the portfolio. The company ended June with US$1.7mln in cash, leaving it well-placed to develop its partner companies and maybe add to the portfolio for the first time in years.  ARTICLE            View Edit Delete
110494  Forbidden Technologies 2015-09-03 08:39:00  2015-09-03 12:06:43  2015-09-03 09:03:32  Forbidden Tech optimistic after first half changes  Forbidden Tech optimistic after first half changes  Video, results    forbidden-tech-optimistic-after-first-half-changes-110494.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:FBT/Forbidden-Technologies/" rel="364">Forbidden Technologies</a> (<a class="companyPopupTrigger" href="-##!##-/LON:FBT/Forbidden-Technologies/" rel="364">LON:FBT</a>) expects the benefits of a recent restructuring to start showing through in the next six months.</p> <p> The video editing specialist has re-focused on sports and its consumer video editing platform eva, moves that affected its first half numbers but which it is confident will pay off over the longer term.</p> <p> In particular, internal restructuring among the commercial and marketing team included management and sales team changes &nbsp;and a new North American business development strategy.</p> <p> Revenues in the half year to June eased to £327,000 (£348,000), while losses rose by £1.35mln (£1.16mln).</p> <p> Within that, sports revenue rose 186% to £80,000 while deferred or future revenues, again largely sports-related, jumped five-fold to £220,000.</p> <p> Forbidden added it had recently agreed a contract with Shine Television to use its editing platform Forscene in their upcoming series of "The Island with Bear Grylls".&nbsp;</p> <p> Forscene is also being used on a major sporting event to be held in the UK in September, it added.</p> <p> Stephen Streater, managing director, said: “"H1 was a period of positive change for the company and the board remains confident that, as the transition into Internet video gathers pace, Forbidden is better placed than ever to capitalise on the commercial opportunity."</p>   Stephen Streater, managing director, said: “"H1 was a period of positive change for the company and the board remains confident that, as the transition into internet video gathers pace, Forbidden is better placed than ever to capitalise on the commercial opportunity."  ARTICLE            View Edit Delete
110492  Amur Minerals 2015-09-03 08:33:00  2015-09-03 15:34:24  2015-09-03 08:42:08  Amur Minerals eyes increase in deposit at Kun-Manie after successful step-out  Amur Minerals eyes increase in deposit at Kun-Manie after successful step-out  nickel, copper, Russia    amur-minerals-eyes-increase-in-deposit-at-kun-manie-after-successful-step-out-110492.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:AMC/Amur-Minerals/" rel="57">Amur Minerals</a> (<a class="companyPopupTrigger" href="-##!##-/LON:AMC/Amur-Minerals/" rel="57">LON:AMC</a>) said first results from this year’s drill programme at Flangovy at Kun-Manie&nbsp;in Far East Russia had confirmed the deposit is larger than previously reported.</p> <p> Three holes were drilled, but one 'step out' hole 400 metres to the east of the last main intercept had indicated significant mineralisation&nbsp;and extends the Flangovy area of the Maly Kurumkon/ Flangovy deposit by 40% to 1,250 metres (m).</p> <p> That hole (C306) intersected three sulphide horizons containing a total of 46.6m&nbsp;of mineralisation, averaging 0.8% nickel and 0.2% copper.&nbsp;</p> <p> The total length of the deposit at&nbsp;Maly Kurumkon/Flangovy, one of the moan zones at Kum-Manie, now stands at two kilometres long and remains open to expansion at both its western and eastern limits, Amur said.&nbsp;</p> <p> Flangovy is projected to contain approximately 29mln tonnes of ore at an average nickel grade of 0.55% and a copper grade of 0.16% over a length of 850 to 900m, but the successful step out is likely to add substantially to the 120mln tonnes&nbsp;already identified overall at Kun-Manie.&nbsp;</p> <p> The remainder of the 2015 drill programme will be drilled from east to west, Amur said, though after the results at C306 it had decided to complete a &nbsp;nearby hole (C305) to target the the recent indications at a greater depth.&nbsp;</p> <p> Robin Young, Amur’s chief executive, said the step out and expansion of the Flangovy limb of Maly Kurumkon/ Flangovy was an extremely positive result.&nbsp;</p> <p> “A 40% expansion in the Flangovy area could result in an increase in resource and add another two to three years of production which in turn may provide higher metal delivery to the plant sooner than anticipated.”</p>   Robin Young, Amur’s chief executive, said the step out and expansion of the Flangovy limb of Maly Kurumkon/ Flangovy was an extremely positive result. “A 40% expansion in the Flangovy area could result in an increase in resource and add another two to three years of production which in turn may provide higher metal delivery to the plant sooner than anticipated.”  NEWS          View Edit Delete
110493  Go Ahead Group 2015-09-03 08:30:00  2015-09-03 15:30:09  2015-09-03 08:46:18  Go-Ahead warns of delays in hitting bus targets as annual profit rises   Go-Ahead warns of delays in hitting bus targets as annual profit rises       go-ahead-warns-of-delays-in-hitting-bus-targets-as-annual-profit-rises-110493.html    <p> Stronger trading in rail helped transport group Go-Ahead (<a class="companyPopupTrigger" href="-##!##-/LON:GOG/Go-Ahead-Group/" rel="3195">LON:GOG</a>) to post annual profits slightly above hopes, but it warned of delays in hitting bus targets.</p> <p> Overall passenger revenue rose 7.6% against 6.1% last time, although a 3.9% like-for-like increase in passenger journeys was worse than last year's 4.8%.</p> <p> Go-Ahead said a good performance from Southeastern helped to make up for problems at its Govia Thameslink Rail (GTR) franchise.</p> <p> GTR has faced strong passenger criticism amid delays caused partly by Network Rail work to improve the Thameslink route through London.</p> <p> It came bottom of a passenger satisfaction survey earlier this year.</p> <p> The strong rail performance allowed Go-Ahead to report an 11.1% rise in overall profits to £114.7mln, slightly ahead of its expectations.</p> <p> It posted record bus profits, up 6.6% to £89mln, although margins were slightly lower than expected.</p> <p> Its regional bus business, which operates in Newcastle, Oxford and the south coast, took a hit from continuing weakness in the North East economy and road works in Oxford and Brighton, which caused a 1.4% fall in overall passenger growth.</p> <p> It said it expected to make £100mln of bus operating profit in 2016/17, a year later than originally anticipated.</p> <p> The company proposed a 6.5% rise in the full-year dividend to 90p.</p> <p> It has submitted bids for Northern and TransPennine <a class="companyPopupTrigger" href="-##!##-/NYSE:EXPR/Express/" rel="7654">Express</a> rail franchises and has been short-listed to run London Overground.&nbsp;It said it continued to explore selective opportunities in overseas markets including Germany and Singapore.</p> <p> Chief executive David Brown acknowledged the GTR problems but added: "While an investment programme of this scale will inevitably result in disruption while infrastructure improvements are made, it will ultimately improve services for passengers in the long term."</p> <p> Shares fell 117p to 2,419p. Broker <a class="companyPopupTrigger" href="-##!##-/LON:INVP/Investec/" rel="2991">Investec</a> said it had adjusted its forecasts to take account of the delay in hitting bus profit targets.</p> <p> "We retain our 'buy' recommendation and 2,750p target price," it said.</p>   Chief executive David Brown acknowledged the GTR problems but added: "While an investment programme of this scale will inevitably result in disruption while infrastructure improvements are made, it will ultimately improve services for passengers in the long term."  NEWS          View Edit Delete
110491  African Potash 2015-09-03 08:10:00  2015-09-03 17:08:17  2015-09-03 08:15:43  African Potash bags third fertiliser deal   African Potash bags third fertiliser deal   Africa, Fertiliser    african-potash-bags-third-fertiliser-deal-110491.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:AFPO/African-Potash/" rel="3853">African Potash</a> (<a class="companyPopupTrigger" href="-##!##-/LON:AFPO/African-Potash/" rel="3853">LON:AFPO</a>) has unveiled its third supply agreement on the African continent in a matter of days.</p> <p> The fertiliser specialist has signed a memorandum of understanding (MOU) with a Zimbabwean company to supply 150,000 metric tonnes of fertiliser annually.</p> <p> First deliveries are anticipated for later this year with supplies to be sourced from Africa, India and China.</p> <p> The MOU follows similar agreements for 50,000 tonnes apiece signed with companies in Zambia and Malawi during the past week.</p> <p> In August, <a class="companyPopupTrigger" href="-##!##-/LON:AFPO/African-Potash/" rel="3853">African Potash</a> signed a deal with the Common Market for Eastern and Southern Africa Comesa to supply 500,000 tonnes of fertiliser to farmers’ groups across various African countries.</p> <p> The three MOUs are part of this deal and mean arrangements are now in place for half of the amount agreed with Comesa.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:AFPO/African-Potash/" rel="3853">African Potash</a> said previously it will earn net revenues of between 5-15% on each metric tonne supplied.</p> <p> Chris Cleverly, executive chairman, said, "<a class="companyPopupTrigger" href="-##!##-/LON:AFPO/African-Potash/" rel="3853">African Potash</a> continues to deliver upon its strategy of becoming a significant, vertically integrated fertiliser provider in Africa.</p> <p> "African farms are only performing at 40% of their potential and simple measures such as quality, affordable fertiliser can triple productivity.&nbsp;“&nbsp;</p>   Chris Cleverly, executive chairman, said, "African Potash continues to deliver upon its strategy of becoming a significant, vertically integrated fertiliser provider in Africa. African farms are only performing at 40% of their potential and simple measures such as quality, affordable fertiliser can triple productivity. “   ARTICLE            View Edit Delete
110488  Lookers PLC 2015-09-03 08:02:00  2015-09-03 08:11:33  2015-09-03 08:05:53  Lookers buys 30 dealerships up north  Lookers buys 30 dealerships up north  car dealer    lookers-buys-30-dealerships-up-north-110488.html    <p> Car dealer Lookers (<a class="companyPopupTrigger" href="-##!##-/LON:LOOK/Lookers-PLC/" rel="3207">LON:LOOK</a>) is to add 30 dealerships to its portfolio, strengthening its presence in the north of England and in Scotland.</p> <p> The company has paid £87.5mln in cash for Addison Motors, which trades as the Benfield Motor Group.</p> <p> The acquisition is being funded by new banking facilities and is expected to boost Lookers’ earning per share in the first year of ownership.</p> <p> Founded in Newcastle upon Tyne in 1957, Benfield is one of the UK's largest private motor retailing companies, employing 1,600 employees.</p> <p> Addison Motors made a profit before tax of £7mln in 2014 on revenues of £700mln.</p> <p> &nbsp;“A key attraction for us is the cultural fit. Both Lookers and Benfield share an approach which puts employees and customers at the heart of our business and this acquisition will ensure that continues,” claimed Andy Bruce, chief executive of Lookers.</p> <p> Shares in Lookers rose 1.8% to 168.21p on news of the deal.</p>   Car dealer Lookers is to add 30 dealerships to its portfolio, strengthening its presence in the north of England and in Scotland. The company has paid £87.5mln in cash for Addison Motors, which trades as the Benfield Motor Group. The acquisition is being funded by new banking facilities and is expected to boost Lookers’ earning per share in the first year of ownership.   NEWS          View Edit Delete
110489  Premier Oil 2015-09-03 07:57:00  2015-09-03 15:25:43  2015-09-03 08:10:48  Premier Oil reveals unsuccessful exploration well result  Premier Oil reveals unsuccessful exploration well result      premier-oil-reveals-unsuccessful-exploration-well-result-110489.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:PMO/Premier-Oil/" rel="3125">Premier Oil</a>’s (<a class="companyPopupTrigger" href="-##!##-/LON:PMO/Premier-Oil/" rel="3125">LON:PMO</a>) latest exploration well in the Norwegian North Sea has not been successful.</p> <p> The company told investors that the 3/7-10 S exploration well reached target depth of 3,464 metres and encountered 110 metres of good quality reservoir.</p> <p> It was, however, ‘water wet’ and the hole will now be plugged and abandoned.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:PMO/Premier-Oil/" rel="3125">Premier Oil</a> was the operator of the project, and it had a 40% stake.</p>   Premier Oil’s (LON:PMO) latest exploration well in the Norwegian North Sea has not been successful. The company told investors that the 3/7-10 S exploration well reached target depth of 3,464 metres and encountered 110 metres of good quality reservoir.  NEWS          View Edit Delete
110487  Minera IRL 2015-09-03 07:51:00  2015-09-03 15:23:04  2015-09-03 07:57:02  Minera IRL confirms appointment of new director and chairman  Minera IRL confirms appointment of new director and chairman      minera-irl-confirms-appointment-of-new-director-and-chairman-110487.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:MIRL/Minera-IRL/" rel="643">Minera IRL</a> (<a class="companyPopupTrigger" href="-##!##-/LON:MIRL/Minera-IRL/" rel="643">LON:MIRL</a>) confirmed that Jaime Pinto has been appointed as a director of the company and he will be the new non-executive chairman.</p> <p> Pinto, a Peruvian lawyer, has served on the boards of mining and energy-related companies in the past and he is current a director of Peru's largest oil refinery as well as Toronto listed <a class="companyPopupTrigger" href="-##!##-/TSE:LPK/Lupaka-Gold/" rel="7267">Lupaka Gold</a> Corp.</p> <p> He has also in the past been a director of the Inter-American Development Bank, as a representative of Peru.</p> <p> The re-election of former chairman Daryl Hodges was not approved at the company’s AGM at the end of last month.</p>   Minera IRL confirmed that Jaime Pinto has been appointed as a director of the company and he will be the new non-executive chairman. Pinto, a Peruvian lawyer, has served on the boards of mining and energy-related companies in the past and he is current a director of Peru's largest oil refinery as well as Toronto listed Lupaka Gold Corp.  NEWS          View Edit Delete
110486  Booker Group 2015-09-03 07:46:00  2015-09-03 15:20:44  2015-09-03 07:52:57  Booker Group cleared to buy Londis and Budgens  Booker Group cleared to buy Londis and Budgens      booker-group-cleared-to-buy-londis-and-budgens-110486.html    <p> The Competition &amp; Markets Authority (CMA) has waved through the proposed acquisition by cash-and-carry group Booker (<a class="companyPopupTrigger" href="-##!##-/LON:BOK/Booker-Group/" rel="138">LON:BOK</a>) of the Londis and Budgens supermarket chains.</p> <p> The announcement coincided with a trading update from Booker that revealed trading had been hit by the ban on small stores displaying tobacco products.</p> <p> <a class="companyPopupTrigger" href="-##!##-/NYSE:TOT/Total/" rel="12896">Total</a> sales in the 10 weeks to 28 August were down 2.0% year-on-year, due to tobacco sales being 6.5% lower; non-tobacco sales were up 0.1% on a year ago.</p> <p> Like-for-like sales for the group, which owns the Makro wholesale outlets, were down 1.8% on a year earlier, with tobacco sales down 6.6% while non-tobacco sales were up 0.5%.</p> <p> "<a class="companyPopupTrigger" href="-##!##-/LON:BOK/Booker-Group/" rel="138">Booker Group</a> continues to make good progress.&nbsp;Our plan to Focus, Drive and Broaden <a class="companyPopupTrigger" href="-##!##-/LON:BOK/Booker-Group/" rel="138">Booker Group</a> is on track.&nbsp; We continue to improve choice, price and service to become the best supplier to caterers, retailers and small businesses in the UK.&nbsp; We are pleased that the acquisition of Londis and Budgens has been cleared by the CMA.&nbsp; This will help strengthen our support for independent retailers throughout Great Britain," said Charles Wilson, Booker’s chief executive.</p>   The Competition & Markets Authority has waved through the proposed acquisition by cash-and-carry group Booker (LON:BOK) of the Londis and Budgens supermarket chains. The announcement coincided with a trading update from Booker that revealed trading had been hit by the ban on small stores displaying tobacco products.   NEWS          View Edit Delete
110484  Collagen Solutions 2015-09-03 07:45:00  2015-09-03 09:56:02  2015-09-03 07:49:49  Collagen Solutions boost as client gets regulatory sign off for new device  Collagen Solutions boost as client gets regulatory sign off for new device  collagen, skin, bones, medical device    collagen-solutions-boost-as-client-gets-regulatory-sign-off-for-new-device-110484.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:COS/Collagen-Solutions/" rel="8318">Collagen Solutions</a> (<a class="companyPopupTrigger" href="-##!##-/LON:COS/Collagen-Solutions/" rel="8318">LON:COS</a>) said NovaBone Products, one of its long-term clients, has received US Food &amp; Drug Administration approval for a new device that makes collagen products easier to use.</p> <p> Called MacroFORM, the delivery system is designed for minimally invasive orthopaedic procedures and was developed for surgeons requiring controlled and precise delivery of grafting material.</p> <p> CS is a significant supplier of this medical grade collagen to NovaBone, so should benefit from the introduction of this new product.</p> <p> “Once again, we see the long-term value generation that we can gain by having our collagen embedded into novel products,” said the AIM-listed medtech firm’s chief executive, Stewart White.</p> <p> “This impressive innovation by the team at NovaBone around making their collagen products easier to use ensures a commitment to growth of these products within attractive addressable markets.&nbsp;</p> <p> “It is anticipated this regulatory approval for NovaBone will have a direct effect on revenues to <a class="companyPopupTrigger" href="-##!##-/LON:COS/Collagen-Solutions/" rel="8318">Collagen Solutions</a>."</p>   Collagen Solutions (LON:COS) said NovaBone Products, one of its long-term clients, has received US Food & Drug Administration approval for a new device that makes collagen products easier to use. Called MacroFORM, the delivery system is designed for minimally invasive orthopaedic procedures and was developed for surgeons requiring controlled and precise delivery of grafting material.  ARTICLE            View Edit Delete
110483  Rambler Metals & Mining 2015-09-03 07:42:00  2015-09-03 16:02:07  2015-09-03 07:47:52  Rambler Metals to merge with Thundermin and consolidate copper assets  Rambler Metals to merge with Thundermin and consolidate copper assets  Copper, Canada,     rambler-metals-to-merge-with-thundermin-and-consolidate-copper-assets-110483.html    <p> Rambler Metals and Mining (<a class="companyPopupTrigger" href="-##!##-/LON:RMM/Rambler-Metals-&amp;-Mining/" rel="841">LON:RMM</a>, CVE:RAB) has agreed to merge with <a class="companyPopupTrigger" href="-##!##-/TSE:THR/Thundermin-Resources/" rel="7742">Thundermin Resources</a>&nbsp;(TSXV:THR), a move that will give it full control of the Little Deer and Whalesback copper assets in Canada.</p> <p> Rambler will issue shares to Thundermin shareholders at a price of equivalent to C$0.013 per share.</p> <p> On completion, Thundermin shareholders will hold approximately 4.7% of the enlarged share capital of Rambler.</p> <p> Norman Williams, Rambler’s chief executive, said he believed the consolidation of Little Deer and Whalesback under one owner would enable mining and processing infrastructure currently in place to be shared.</p> <p> The merger would also boost trading liquidity of the shares on the Toronto venture exchange, he added.&nbsp;</p> <p> John Heslop, Thundermin’s chief executive, said the merger would facilitate the potential development of the Little Deer and Whalesback copper deposits upon completion of a feasibility study and expand Rambler's resource base in Newfoundland and Labrador.&nbsp;</p> <p> Little Deer and Whalesback, respectively in north-central Newfoundland and Labrador, are currently jointly owned on a 50/50% basis by Thundermin and Rambler.</p> <p> The merger terms are approximately 16 Thundermin shares for every 1 of Rambler.</p>   Norman Williams, Rambler’s chief executive, said he believed the consolidation of Little Deer and Whalesback under one owner would enable mining and processing infrastructure currently in place to be shared. The merger would also boost trading liquidity of the shares on the Toronto venture exchange, he added.   NEWS          View Edit Delete
110482  Mosman Oil & Gas 2015-09-03 07:33:00  2015-09-03 09:34:10  2015-09-03 07:39:06  Mosman Oil & Gas inks NZ acquisition deal  Mosman Oil & Gas inks NZ acquisition deal      mosman-oil-gas-inks-nz-acquisition-deal-110482.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:MSMN/Mosman-Oil-%26amp%3B-Gas/" rel="8266">Mosman Oil &amp; Gas</a> (<a class="companyPopupTrigger" href="-##!##-/LON:MSMN/Mosman-Oil-&amp;-Gas/" rel="8266">LON:MSMN</a>) confirmed it has signed an agreement for the acquisition of producing assets in New Zealand.</p> <p> It is acquiring the project, which comprises a number of fields and will be branded as the South Taranaki Energy Project (STEP), for NZ$10mln which equates to about £4.2mln.</p> <p> A separate agreement has also been reached that will see WRDLS Ltd, a private company, take at least 30% of the project.</p> <p> AIM-quoted Mosman said it is currently considering offers from other potential partners, and it expects to end up with between 40% and 70% of the project.</p> <p> It added that the proposed transaction remains subject to a number of conditions, including financing.</p> <p> “We are delighted to have signed the SPA and the STEP agreement on a deal that the board believes will be transformational for Mosman,” said Mosman chairman John Barr.</p> <p> “Numerous opportunities to increase production in the short term have been identified and there is significant upside in development of the Manutahi oil field that originally had 30 million barrels of oil in place.”</p> <p> The project comprises almost 2bn cubic feet of gas and 1.4mln barrels of oil reserves, as well as 13.7bn cubic feet and 4.1mln barrels of resources.</p> <p> Operations have been yielding just over 600 barrels oil equivalent per day, since restarting in October, and Mosman says there are 12 low-cost opportunities to significantly improve production volumes without drilling new wells.</p> <p> The company did, however, highlight that new drilling would be considered in due course.</p> <p> Payment for the acquisition will be made in two tranches with around NZ$7mln paid up-front and NZ$3mln following six months later. Mosman plans to fund the deal via a mix of existing cash, debt, equity, convertible securities and the sale of royalty over future production.</p>   Mosman Oil & Gas confirmed it has now signed an agreement for the acquisition of producing assets in New Zealand. It is acquiring the project, which comprises a number of fields and will be branded as the South Taranaki Energy Project (STEP), for NZ$19mln which equates to about £4.2mln.  ARTICLE            View Edit Delete

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