Before we knew it, the bid approach for Elegant Hotels Group PLC (LON:EHG) had been and gone.
The company said it had received an approach from Melia Hotels relating to a possible all-cash offer, and that discussions came to nothing.
The shares moved up 3.6% on the announcement.
P2304 is located to the immediate south of Egdon's P1929 licence (UKCS Blocks 41/18 and 41/19) offshore North Yorkshire, which contains the 1966 Resolution gas discovery.
Shares in Europa were up 2.22% on the news.
1.00pm: Reabold slides as it pays up to gain foothold in onshore Romanian energy scene
Reabold is taking a stake in Danube Petroleum, a newly-formed UK private oil and gas company that will have a 50% stake in the high-impact Parta licence, onshore Romania, and a 100% stake in a low-risk appraisal campaign within Parta.
“The investment into the Parta licence gives Reabold a foothold into the prolific eastern European onshore oil and gas space, giving the Company the opportunity to consolidate other licences in the area," said Stephen Williams, one of two chief executive officers at Reabold.
“Reabold shareholders can look forward to an exciting 2018," promised the other boss, Sachin Oza.
In the meantime, they have to swallow a 6.7% slide in the share price.
11.35am: Trading Emissions to call it a day?
The trading statement did not start too promisingly, with the chairman, Martin Adams, advising that the board is “cautiously optimistic that the execution of the company's investing policy is approaching its conclusion”.
The company is currently in advanced negotiations in relation to the sale of its fifth solar energy subsidiary, Solar Energy Italia 1, and if this completes the board expects to convene a shareholder meeting to approve a distribution, potentially cancel the company’s Aim listing and, in due course, appoint a liquidator of the company.
The shares by almost a third on the news to the princely sum of 2p.
10.55: Investors get on board National Express after strong trading update
The bus company also announced two acquisitions: one in the US and one in Spain.
The company has bought a school bus and coach business with 204 vehicles in Cincinnati, Ohio, along with a Madrid bus operator with 73 vehicles.
Investors were quick to get on board with the shares up 4.2% at 380p; in contrast, the FTSE 250 was up 0.72%.
“The group has a strong track record in acquisitions and management expects the most recent deals to achieve the 15-20% targeted returns,” said Liberum Capital, which rates the shares a ‘buy’.
Further down the food chain, Lionsgold Ltd (LON:LION) was up 72% to 2.14p, adding to Friday’s gains, when it shot up from 0.93p to 1.25p.
Friday’s share price surge obliged the company to issue a stock market statement saying that, other than its successful share placing, it knew of no reason why the shares had gone moon-bound.
On the subject of the share placing, the company has raised an additional £200,000 after a group of new investors approached the company and asked if they could pump money into the company’s Goldbloc digital currency platform.
Vamousse providers Tyratech with some va-va-voom; Versarien gets all mysterious over major chemical company partner
The product has always had great potential, with tests showing it is far more effective than the old-school head lice treatments that are beginning to lose their potency as lice build up resistance levels, but Tyratech has lacked the marketing clout to get that message across as widely as it would have liked.
Enter Alliance Pharma, which is paying US$17.5mln for the pesticide-free product.
The disposal will leave Tyratech focussed on its animal health products.
Shares in Tyratech’s ordinary shares were up 82% on the news. Shares in Alliance rose 2.9%.
Versarien PLC (LON:VRS) was wanted after it announced an agreement with a US-headquartered global chemical partner.
The UK advanced materials engineering group did not name its partner but dropped a hint, saying it is a Fortune 100 company.
The mysterious partner will use Versarien's proprietary Nanene few-layer graphene nano-platelets, along with other 2D products manufactured by Versarien, in different potential applications.
Both groups will work together on research, development and testing of compounded materials, with the objective of replacing incumbent additives across different chemical variants to improve material performance.
Shares in Versarien were up 24% at 74.85p.
Proactive news headlines:
Alliance Pharma plc (LON:APH) is acquiring a pesticide-free head lice product line for up to US$17.5mln – giving the growing healthcare company a third international brand. It is paying an initial US$13mln for Vamousse, which it is acquiring from TyraTech PLC, the AIM-listed developer of the range. This will be followed by a deferred pay-out of as much as US$4.5mln based on sales targets.
Galileo Resources PLC (LON:GLR) is shortly to commence drilling at the Star zinc project in Zambia, held in joint venture with BMR Resources. The company expects the results to go towards a new resource update that will be prepared by consultants CSA Global.
Highlands Natural Resources Plc (LON:HNR) has seen oil and gas production from the Powell and Wildhorse wells at East Denver rise further. Oil and gas production from a month of flow-back testing has now stabilised at 1,771 barrels daily compared to 1,333 barrels reported last week.
BATM Advanced Communications Limited (LON:BVC) has entered into an agreement to sell a wholly-owned building situated at Yokneam, Israel for roughly US$9.7mln, some US$5.9mln above its book value.
Silence Therapeutics PLC has sold a 30% stake in fellow RNA interference specialist Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) at a £2.9mln profit. In January it paid £9.2mln for 6.83mln Arrowhead shares. In a recent deal it offloaded 2.036mln for £5.6mln, booking the gain in the process.
Ergomed Plc (LON:ERGO) said its pharmacovigilance subsidiary PrimeVigilance will be organising and presenting at the International Society of Pharmacovigilance's Intelligent Automation in Pharmacovigilance seminar.
Rose Petroleum PLC (LON:ROSE) has boasted of the ‘excellent quality’ of its initial results from the recent 3D seismic exploration programme in the Paradox basin, Utah. Processing of the full seismic data is ongoing, albeit ‘now nearing completion’, though Rose is pleased with the results seen thus far.
Europa Oil & Gas Holdings PLC (LON:EOG) has agreed to sell its stake in the offshore UK P2034 licence to Egdon Resources Ltd (LON:EDR) in a deal worth up to £1.45mln. It effectively expands Egdon’s footprint offshore North Yorkshire, where it already has a project immediately adjacent to P2034.
Solo Oil PLC (LON:SOLO) has highlighted ‘technical progress’ for the group’s Helium One investment, in Tanzania, where the group has been working to advance potential drill locations. Operations have involved soil and seep geochemistry data, and work designed to enhance and reprocess existing seismic data in order to gain more detailed structural and stratigraphic mapping.
Chaarat Gold Holdings Limited (LON:CGH) remains on track to deliver a resource update for the Tulkubash heap leach project in the Kyrgyz Republic in January 2018, following the return of assay results from recent drilling. A feasibility study is due in the first quarter.
Lionsgold Limited (LON:LION) has raised an additional £200,000 on the same terms as its share placing announced last week.
Tertiary Minerals plc (LON:TYM) shares closed higher on Friday in the wake of announcing it had entered into a memorandum of understanding (MoU) with global commodities group Possehl. The MoU provides for the companies to enter into an offtake agreement to support Tertiary’s three fluorspar projects.
Bacanora Minerals Ltd. (BCN) has announced that Martin Vidal, president and a director of the company, has resigned his positions with effect from 30 November 2017. The London and Canadian listed lithium exploration and development company said Vidal will remain with the company in an advisory/consultancy capacity going forward.
appScatter Group PLC (LON:APPS), the recently-listed business-to-business Software as a Service platform has said three directors of the company, including its non-executive chairman, Clive Carter purchased shares in the company on December 1. The firm said Carver purchased 20,408 ordinary shares at a price of 49.0p each taking his total holding to 208,300 ordinary shares, representing 0.33% of the company's issued ordinary share capital. appScatter said its sales director, Jason Hill, and Michael Buchen, a non-executive director also purchased shares at 49p each as well.