Trading since April 1st at AEA Technology Group has remained challenging, as expected, but the energy and sustainability consultancy stressed that good progress is being made in the implementation of the business plan. Discussion over the firm's strategic options to realise its value are on-going with a number of interested parties.
Expansys, a global online retailer of wireless and consumer technology, said its eCommerce services subsidiary PJMedia has won a new contract to provide compulsory top-up services to UK pre-pay customers of Everything Everywhere (Orange), the largest UK network by customer numbers. PJMedia will be in charge of the online execution of the process so that pre-pay customers are able to top up their phones automatically online.
HgCapital Trust, the listed arm of private equity firm HgCapital, has agreed to sell its investment in Mercury Pharma and expects to realise estimated proceeds of about £35.4m on completion and further potential proceeds of £1.0m over the next 30 months. On completion of the sale, which is expected to be August 31st, the firm's net asset value (NAV) will increase by £19.9m over the carrying value of £16.5m in the NAV of the trust at the end of May.
Berkeley Mineral Resources, a metals processing company, has completed the acquisition of all the remaining surface rights at the Kabwe mine site in Zambia, including the land and surface rights formerly owned by Silverlining. In addition to the tailings (mining by-products) stockpiles it already owns at Kabwe, the firm now also owns underground ore bodies with an estimated 51m tonnes at a combined grade of 4%.
Max Petroleum, an oil and gas exploration and production company focused on Kazakhstan, has started drilling on the BCHW-1 exploration well on the Baichonas West prospect. The firm is planning to drill to a depth of around 1,400 metres and will target unrisked mean resources of 10m barrels of oil in Jurassic and Triassic reservoirs.
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