Afren share price nightmare: Day of reckoning is here January 30, 2015 Embattled oil producer Afren will today find out if it's been thrown a lifeline by rival company Seplat, a move that could provide one possible solution to the company's funding crisis. Nigerian oil and gas explorer Seplat recently extended the deadline for its informal takeover offer – but at 5pm tonight its time will be [...]
Why tomorrow will be crucial for embattled Afren January 29, 2015 Tomorrow could be the day of reckoning for beleaguered oil and gas company Afren, whose shares crashed 72 per cent just two days. Nigerian rival Seplat has until tomorrow to make an offer, although it could ask for another extension, as it did … . throw it a lifeline … "We see low likelihood of an [...]
Saga share price boosted by a £26m acquisition of Bennetts motorbike insurer January 28, 2015 Shares in insurance group Saga shot up by 10.8 per cent yesterday after the firm announced it had bought motorbike insurer Bennetts for £26.26m. Saga, which specialises in cover for the over-50s, said the deal was in line with its strategy to expand its offering via broker services. Bennetts, which was previously owned by BGL [...]
Crunch time for Afren as board reviews funding requirements January 27, 2015 SHARES in troubled oil firm Afren lost over two thirds of their value yesterday, plummeting by 71.7 per cent after the firm announced that it is reviewing the funding and liquidity requirements of the business. The company said it was seeking to address how it manages the overall leverage position of the company “in light [...]
Quindell on verge of selling operating unit January 22, 2015 TECH and outsourcing company Quindell confirmed it was in exclusive talks with Australian law firm Slater & Gordon for a possible sale of an operating unit. Quindell, founded by ex-CEO Rob Terry (pictured), said yesterday there was no certainty the talks would lead to an offer or a deal. The company said early this month [...]
Quindell confirms Slater & Gordon is in talks to buy its legal arm after share price rises 15 per cent on rumours January 22, 2015 Quindell has confirmed that law firm Slater & Gordon is in talks to buy "an operating division", thought to be its legal services arm. In a statement after the market closed, the insurance claims processor confirmed press speculation that the "third party" it had previously named was the law firm. Shares in the company rose [...]
New Quindell deputy chairman Jim Sutcliffe to step down from the Financial Reporting Council January 16, 2015 New Quindell deputy chairman Jim Sutcliffe will step down from his role as chairman of the Financial Reporting Council's (FRC) codes and standards committee "with immediate effect", the organisation said today. Sutcliffe was appointed as Quindell's new deputy chairman earlier this week, causing its shares to rise more than 26 per cent. But the troubled [...]
Company floats in 2014 score higher than FTSE 100 average January 14, 2015 IF YOU invested in any the 30 companies that completed public floats last year, chances are you’ll be happy you did. Research out from Deloitte shows the 2014 additions to the share market generated an average return of 12.4 per cent, outperforming the FTSE 100 by 14.4 percentage points. An investment of £1,000 in each [...]
Quindell share price rises as investors give thumbs up to Richard Rose and Jim Sutcliffe appointments January 12, 2015 Investors in troubled insurance outsourcer Quindell yesterday welcomed the firm’s appointment of Richard Rose and Jim Sutcliffe as chairman and deputy chairman, despite it coming to light that the pair have been granted a combined 18.6m share options. The Hampshire-based firm’s stock was up 26 per cent in trading yesterday following the news. “All appointments [...]
Afren’s reserves cut sees shares crash by 30pc January 12, 2015 SHARES in oil firm Afren plummeted by over 30 per cent yesterday, following an update from the company which revealed it is likely to be forced to cut its previous reserves estimates. The group stated that a Competent Person’s Report (CPR) being carried out on its Barda Rash operation in Kurdistan is “expected to show [...]