Page 6 - Ivan Edwards News Today

IN BRIEF: Renold sees results in line with guidance, buys chain maker Wed, 14th Apr 2021 11:50 Renold PLC - Manchester-based engineering equipment maker - Trading in financial year ended 31 March is in line with companys revised expectations. Revenue falls 13% to GBP165.3 million in the full year, but this eased to just 8.3% in the fourth quarter, attributed to global supply chain constraints. Cash generation is better than initially expected, with net debt halved to GBP18.4 million from GBP36....

IN BRIEF: Sound Energy rises after bondholders approve restructuring Wed, 14th Apr 2021 12:07 Sound Energy - Moroccan-focused gas explorer and producer - Bondholders approve restructuring of EUR 28.8 million 5.0% senior secured notes due in June. Maturity of notes extended by six years to December 2027. Notes to be partially amortised by 5% every six months starting December 2023. EUR3.5 million of notes to be converted into shares priced at 2.13p each. Notes will pay 2% interest per annum and ...

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British Land signs pre-let deal with JLL in boost for London offices Thu, 8th Apr 2021 08:22 (Alliance News) - British Land Co PLC on Thursday said that Jones Lang LaSalle Inc has signed a pre-let agreement for office space at 1 Broadgate in London. JLL, a Chicago-based real estate services company, agreed to lease 134,000 square feet, about 30% of the building, on a 15-year term when 1 Broadgate is complete in 2025. The site in the City of London financial district is being redeveloped by Bri...

Minds + Machines shares soar after deal to sell assets to GoDaddy Thu, 8th Apr 2021 12:05 (Alliance News) - Minds + Machines Group Ltd on Thursday said it has agreed to sell most of its assets to GoDaddy Inc for USD120 million in cash. Shares in Minds + Machines, a web domain registry company, were up 59% to 7.30 pence in London. Owners of 64% of Minds + Machines shares confirmed they will vote in favour of the sale, the company said. After transaction costs, the offer is worth an estimated 8....

OSB writes down GBP20 million in fraudulent loan case, earnings fall Thu, 8th Apr 2021 11:48 (Alliance News) - OSB Group PLC on Thursday reported a decline in underlying profit in 2020, after recording a GBP20 million impairment because of potential fraud by a third party. Underlying pretax profit fell 9.2% to GBP346.2 million from GBP381.1 million in 2019. In the first full year after the merger with Charter Court Financial Services in October 2019, statutory pretax profit increased 25% to GB...

IN BRIEF: Simec Atlantis Energy distances itself from Gupta Wed, 7th Apr 2021 12:34 Simec Atlantis Energy Ltd - Edinburgh-based renewable energy producer - Says it is an independent company, it is not a member of the Gupta Family Group Alliance, and has no connection with any of the GFG Alliances funding mechanisms, following media "misstatements". Says Simec UK Energy Holdings, a member of the GFG Alliance, is its largest shareholder with an approximately 43% stake. Shares in Simec Atlantis En...

Flutter vows to defend itself after Fox sues over FanDuel deal Wed, 7th Apr 2021 09:17 (Alliance News) - Flutter Entertainment PLC on Wednesday said it would "vigorously" defend itself against Fox Corp after the US company sued in a dispute over a stake in FanDuel Group. Shares in Dublin-based gambling firm Flutter were down 1.5% to 15,510.00 pence in London. On Tuesday, Fox said it filed an arbitration suit against Flutter to enforce its right to buy an 18.6% stake in FanDuel, at the same pri...

Pharos Energy swings to loss as low oil prices take toll Wed, 7th Apr 2021 10:18 (Alliance News) - Pharos Energy PLC on Wednesday reported a swing to a loss and a drop in revenue in 2020 as low oil prices hit the exploration and production company. The company made a pretax loss of USD241.2 million, after a pretax profit of USD11.7 million in 2019. Revenue fell 25% to USD142.0 million from USD189.7 million. Shares were down 2.3% to 23.90 pence in London. Low oil prices and an impairment cha...

Tullow Oil starts Ghana drilling campaign, sees cash flow potential Tue, 6th Apr 2021 09:56 (Alliance News) - Tullow Oil PLC on Tuesday said it started a drilling campaign in offshore Ghana. London-based explorer and producer Tullow expects to drill four wells this year in the Jubilee and TEN Fields, which have a large resource base with extensive infrastructure already in place. The assets have the potential to generate material cash flow over the next decade, the company said. The campaign i...