The company said the acquisition of Europa, which manages Italian distressed debt investments, has been completed.
"The acquisition of Europa Investimenti represents another logical step of our considered entry into the Italian market,” said Arrow’s chief executive Lee Rochford.
“The combination of a highly-skilled management team with an excellent track record of value creation and access to our strong funding structure, creates a powerful investment platform to drive strong returns from attractive corporate and SME assets.”
Hurricane Energy PLC (LON:HUR) shares swept 6% higher to 55.3p after Thursday’s announcement that it has completed all offshore installation works for Lancaster and its on track for first oil in the first half of 2019.
The group said subsea umbilical, risers and flowlines for the Lancaster early production system have been installed and is now ready for the arrival of the Aoka Mizu floating production storage and offloading vessel.
Works on the vessel in Dubai are in the final stage with sea trials expected to commence by the end of the month and sailaway to follow shortly thereafter.
Final activity at the field will include protective rock dumping, which is expected to take place in October.
Anglo African Agriculture shares rise as it secures funds for logistics port in Kenya
The funds were raised by way of a subscription for new ordinary shares and the issue of convertible loan notes.
Anglo said most of the financing will be used to provide a 24-month loan to support growth of privately-owned Kenyan-based port and marine logistics group, Comarco Group, under a deal the two agreed in late August.
Crusader Resources Ltd (LON:CAS) shares fell 7.5% to 1.52p after revealing its first half loss doubled on higher expenses.
The mineral explorer, which completed a dual listing on the AIM market in London along with its listing on the Australian Security Exchange, said the pre-tax loss rose to US$4.1mln in the six months to the end of June from US$1.8mln a year ago.
The value of the group’s total assets decreased to US$29.5mln from US$31.5mln.
Character Group rallies as it expects full year trading to meet market forecasts
The company said its existing brands, including Peppa Pig and Teletubbies, and new ranges such as Pokémon and Doorables Disney, have been selling “extremely well”.
The group said it “remains confident in the group's ability to grow the business profitably and expand its presence both domestically and internationally in the years to come”.
Shares rose 8% to 540p in morning trading.
The business conference firm has bought the remaining 50% stake in EJK Tarsus Mexico, its Mexican joint venture with E.J. Krause & Associates, while also upping its stake in South East Asia exhibition company AMB Tarsus Exhibitions to 75% from 50%.
The combined price for the acquisitions is US$29mln.
Image Scan shares slump on profit warning
Shares in the X-ray imaging specialist fell 16% to 3.15p in Friday morning trading.
The company, which announced the £3.25mln acquisition of X-ray scanning security equipment supplier Todd Research in July, said sales of portable X-ray systems to security and counter-terrorism forces have been slower than hoped for in the second half, in part due to a change in government budget schedules.
Nuformix PLC (LON:NFX) shares gained 24.4% to 3.05p after the pharmaceutical company said it reached a “pre-clinical milestone” for cancer treatment NXP001.
The group has received an initial payment of £500,000 from Newsummit Biopharma (NSB), which will have exclusive rights to NXP001 for marketing and distribution in China after securing regulatory approvals. A successful human pharmacokinetic study of the product will trigger a further £2mln payment from NSB and pave the way for concluding further licensing agreements for rest of the world marketing rights.
The company said the final quarter saw a continuation of the challenging trends experienced throughout the year.
Despite the negative impact of a weaker Rand against the pound due to a technical recession in South Africa’s economy, the asset management and specialist banking businesses are expected to report results ahead of the prior period. However, the performance in the wealth & investment business is expected to be worse than last year.
Proactive news headlines:
Sirius Minerals PLC (LON:SXX) has struck a new U$250mln funding deal which it expects will bridge the gap until Stage 2 project financing is needed, in the second quarter of 2019. Specifically, Sirius has agreed an amendment to an agreement with Hancock British Holdings Ltd, originally made in 2016.