Oilex raises funds to take full control of Indian gas project
A look at the major movers on the London market on Wednesday
Oilex Limited (LON:OEX) has seen its shares gush up after it finalised the funding to take full control of an Indian gas project, something it has been trying to do for more than four years.
It has wanted to buy the 55% of the Cambay field it does not own since 2016 but it got into a spat with its partner - the state-backed Gujarat State Petroleum Corporation Limited (GSPC) - over expense payments which at one point went to an Indian court.
Catena Group jumps after buying machine learning group for £27.9mln
A look at the major movers on the London market on Wednesday
1.19pm: Deal lifts acquisition specialist
Catena Group PLC (LON:CTNA) has seen its shares surge after the AIM-listed holding company unveiled a £27.9mln deal and returned from September s suspension.
Its is paying a mixture of cash and shares for Insight, a data science and machine learning solutions company. It already owns 9.1% of Insight, and the acquisition counts as a reverse takeover and needs shareholder approval.
In the market shares in Catena - which will change its name to Insig AI PLC after completion - have jumped 14.9p or 25.25% to 73.9p.
Oilex raises funds to take full control of Indian gas project
A look at the major movers on the London market on Wednesday
Oilex Limited (LON:OEX) has seen its shares gush up after it finalised the funding to take full control of an Indian gas project, something it has been trying to do for more than four years.
It has wanted to buy the 55% of the Cambay field it does not own since 2016 but it got into a spat with its partner - the state-backed Gujarat State Petroleum Corporation Limited (GSPC) - over expense payments which at one point went to an Indian court.
Mirriad Advertising jumps after joining US over-the-counter market
A look at the major movers on the London market on Wednesday
11.27am: Advertising group boosted by American move
From now on share in the advertising group will be traded in the US on the OTCQX Best market, with the aim of diversifying its investor base and allowing it to be traded by American broker-dealers.
The business already operates in the US, as well as Europe and China.
Chief executive Stephan Beringe said: [This] marks another valuable step in our strategic plans in the US. As we focus on developing technology that will define the in-content advertising space, we look forward to global investors having increased access to our shares and joining our journey as we deliver against our objectives.