Quindell director gives up on controversial share agreement November 26, 2014 CRISIS-hit insurance outsourcer Quindell announced yesterday that finance head Laurence Moorse had relinquished his rights under the now-infamous share transfer agreement with Equities First Holdings (EFH). Moorse, along with former Quindell chairman Rob Terry and non-executive director Steve Scott, entered into the agreement with the US alternative finance provider last month. The deal saw the [...]
UK commercial property beats equities as most profitable asset November 26, 2014 UK COMMERCIAL property was one of the best asset classes to invest in over the past year. Research from Lloyds Bank released today show investment returns on UK Commercial property were 20.1 per cent in the year to October – the highest among the nine key asset classes. It was followed by global equities, which [...]
Drone company Strat Aero floats on Aim after raising £650,000 in placing November 16, 2014 Aerospace services company Strat Aero begins trading on Aim today, following a placing of 8,125,000 shares to raise £650,000. The placing values the company at around £6.2m, and the funds raised will be used to provide working capital to explore existing and new opportunities. Strat Aero will be focusing particularly on the growing market for [...]
World Cup and an improving Irish economy help to spur TV and radio growth for UTV November 13, 2014 Northern Irish radio and television broadcaster UTV yesterday announced a nine per cent increase in revenue to £84.7m in the nine months to 30 September, thanks in large part to improving economic conditions in the UK and Ireland. UTV held the radio rights to the 2014 World Cup in Brazil, which helped to boost its [...]
Afren takes hit in third quarter October 30, 2014 SHARES were down by 15.6 per cent yesterday at Afren, as the oil group reported reduced production. The firm delivered average net production of 31,147 barrels of oil per day (bopd) in the nine months to September 2014, below full-year guidance range of between 32,000 to 36,000 bopd. Afren sacked its chief executive earlier this [...]
Afren share price rises after firing CEO Osman Shahenshah and COO Shahid Ullah October 14, 2014 Afren's share price climbed by over 3.5 per cent yesterday after the oil company announced that its chief executive and chief operating officer (COO) had been sacked for gross misconduct following an independent review. The company had suffered a 30 per cent share slump when it suspended CEO Osman Shahenshah and COO Shahid Ullah [...]
Afren share price plunges as company fires chief exec and chief operating officer for misconduct October 13, 2014 Afren was plunged into fresh turmoil last night after the oil and gas explorer revealed it has fired chief executive Osman Shahenshah and chief operating officer Shahid Ullah for gross misconduct. Afren’s shares have plunged since the controversy over unauthorised payments began at the end of July. The group said law firm Willkie Farr & [...]
Aim-listed firms bouncing back: Alternative Investment Market companies have biggest quarter of takeover activity October 5, 2014 The London Stock Exchange’s market for smaller growing companies, the Alternative Investment Market, had its biggest quarter of takeover activity in over two years as Aim-listed firms become attractive takeover targets. According to the accountancy group UHY Hacker Young, the three months to the end of September saw 13 merger and acquisition deals involving Aim [...]
Russian sanctions upset Moscow regatta show plans but Fine Art Sails still floats into Cowes Week August 6, 2014 Russian sanctions have taken the wind out of one London property developer’s sails. CNM Estates boss Michael Ross, who also runs Fine Art Sails, had been working on cultural ties with Moscow to bring his sail art to a regatta in the Russian capital this June. The plans ran into choppy waters, however, when [...]
Recovering markets in Europe drive rise in international floats July 27, 2014 CROSS-border flotations raised $25.7bn (£15.1bn) in the first half of 2014, up 151 per cent on the year, law firm Baker McKenzie said today. The fastest growth came in Europe, the Middle East and Africa (EMEA) where 31 flotations brought in $10.5bn, up 300 per cent on the year. Of those flotations, 21 were on [...]