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Proactive news round-up: StatPro Group, Bushveld Minerals, Hurricane Energy ...

Published: 16:00 07 Apr 2017 BST

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Proactive Spotlight:

StatPro Group PLC (LON:SOG) has agreed to pay £11mln for risk and performance analytics service, UBS Delta - a deal that will be immediately earnings enhancing.

Financially, the transaction is a significant one for the AIM-listed group adding annual revenues of £14.5mln, giving combined sales of £53mln. Adjusted EBITDA from the acquisition is forecast to be in the order of £2-£2.5mln.

StatPro chief executive Justin Wheatley said: “This earnings enhancing acquisition transforms our scale and capabilities. It will also enable us to build a bigger business faster and, through our operational gearing, improve our profitability.”

"We will have a significantly enhanced product capability for the front office and will materially benefit from being able to access UBS Delta's clients - the majority of which are new to StatPro.”

WATCH: UBS Delta a "really good deal", says StatPro boss ...

The acquisition, to be phased over three to five years, will extend the company’s analytics service from the middle office to the front office of asset managers.

Other Proactive news stories:

Bushveld Minerals Limited (LON:BMN) has completed its long-awaited acquisition of a 78.8% stake in Strategic Minerals Corporation, transforming it into a "significant player in the global vanadium market".

Hurricane Energy PLC (LON:HUR) has more or less doubled its estimation of the Lancaster field’s size, now seeing some 593mln barrels in the ‘base case’. The new estimates, revealed in a new power point presentation, put the field’s oil-initially-in-place in a range of 1.29bn to 3.03bn barrels and estimates recoverable resources between 255mln and 1.07bn barrels.

Kurdistan-focused oil producer Genel Energy PLC (LON:GENL) has announced pricing for a bond buy-back. Up the US$252.8mln of bonds are due to be repurchased with bondholders offered up to 89.9% of par value - the weighted average price is 85.56 of par (or 85.56p in the pound).

Shares in punters’ favourite Gulf Keystone Petroleum (LON:GKP) were marked higher early on after the Kurdistan-focused oiler weighed in with a better than expected set of full-year results.

WATCH: Gulf Keystone seem to "have turned a corner", says analyst ...

Landore Resources Ltd (LON:LND) said drilling had started again on its BAM East gold discovery in Ontario, part of the Junior Lake property. The work started on April 1 and 12,000 metres are planned this spring and summer.

Shares in Windar Photonics PLC (LON:WPHO) soared in early deals on Friday after the wind sensors maker received a new order for 25 of its WindEYE LiDAR units  from a newly-appointed regional distributor in China.

Small Pharma, a start-up firm which is developing a drug for patients experiencing severe depression using a derivative of horse tranquiliser ketamine has raised £830,000 from noted pharma sector investors and via angel investing platform, Syndicate Room.

Advanced Oncotherapy PLC’s (LON:AVO) new lender, Bracknor Investment Group, has told the company it will convert another portion of the first tranche of convertible loan notes. The notes were issued to Dubai-based Bracknor as part of the financing deal announced back in February.

Panmure Gordon analyst Keiron Hodgson has reiterated a ‘buy’ rating and a 156p price target on Gem Diamonds PLC (LON:GEMD) following news today that the firm has recovered an exceptional 114 carat diamond from its Letšeng mine in Lesotho.

WATCH: Panmure analyst on Gem Diamonds ...

88 Energy Ltd (LON:88E) told investors it is all clear to start drilling the Icewine-2 well at its shale project on Alaska’s North Slope. The exploration company today revealed that the Alaska Oil and Gas Conservation Commission (AOGCC) approved the permit to drill.

Growing equipment rental group Vp PLC (LON:VP.) has bought Hertfordshire based Jackson Mechanical Services (JMS) for £3.6 million in cash.

Secure card payments firm PCI-PAL PLC (LON:PCIP) saw shares race up over 17% as it revealed it had won new contracts worth in excess of £550,000.

Shares in Fusionex International PLC (LON:FXI) zipped higher on Friday after the software solutions provider secured a contract with a “major multinational healthcare company” for its GIANT 2017 big data platform.

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