Proactive Investors - Run By Investors For Investors

Friday's most followed: Blacks Leisure, Range Resources, Tower Resources, Nostra Terra Oil & Gas and Solo Oil

News that well-known outdoor retailer Blacks Leisure (LON:BSLA) is to enter administration as part of the process of selling off its assets made the statement one of the biggest news stories on Google Finance UK.

As at 10.45 am, the firm's shares were down 9.09 per cent - to trade at 1.38 pence.

The retailer's stock exchange statement was also the second most read RNS announcement - after Range Resources (LON:RRL, ASX:RRS) which was one of the most talked about stocks on bulletin boards today.

Still, the most popular searched for company for the fourth day running on the UK part of the search engine was 888 Holdings (LON:888) as traders looked for news on the online gaming firm.

The company stands to be the biggest beneficiary of an apparent change of heart in the US over online gambling, according to analysts.

The most traded stock by volume on the LSE was PAN Pacific (LON:PPA), whose shares were up 23 per cent in early deals (at 0.08 pence).

Range confirmed today that share options worth around A$15.5 million have been exercised.

It said that almost 190 million listed options, with a strike of A$0.05, were exercised as well as 60 million director options which had a strike price of A$0.10.

Some of the new shares are being placed with investors via the company’s broker Old Park Lane Capital. It said that 70 million shares will be sold to OPL’s clients at a price of 7.5p, which equates to $0.115. Of those shares around 52.1 million come from the exercise of director options.

Range said that the full exercise of the options will provide total gross proceeds of A$15.5 million.

A statement from Tower Resources (LON:TRP), up 2.61 per cent today, at 2.95 pence, also made the list of top ten RNS announcements.

Shares in the firm were lifted in morning trade by news it has secured an equity line from Yorkville Advisors, which will in part be used to fund the costs of drilling the third and final commitment well, Mvule-1, on Tower's EA5 licence area in Uganda.

Also in the oil and gas sector, Nostra Terra (LON:NTOG), which was also one of the most popular RNS statements, told investors that it will receive a US$1.3 million loan payment from a former partner by the end of January.

Shares in the firm were up 4.94 per cent this morning, to change hands at 0.43 pence.

At number five of the most read statements was Solo Oil (LON:SOLO), up 1.65 per cent today, at 0.62 pence, which has drawn down £350,000 from the three-year £10 million equity Line facility arranged in November 2011 with Dutchess Opportunity Cayman Fund Ltd.

This is the first drawdown from the facility.

The explorer has issued 59,322,034 new Solo shares at a 5 percent discount to the market price, in line with the agreement.

Register here to be notified of future ADM-A Company articles


July 31 2012

© Proactive Investors 2015

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.