Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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UBM disposes of UK licensed trade portfolio United Business Media Limited today announces that it has signed an agreement to dispose of its UK licensed trade portfolio to William Reed for an initial cash consideration of £1.5m and further deferred performance-related consideration of up to £150,000. UBM is selling the portfolio on behalf of its UBM Connect division. The transaction is expected to close within a month, subject to the conclusion of a TUPE consultation process. The sale of the portfolio - which comprises The Publican print magazine title, websites and awards event, together with the Theme and Bar Show brands - augments William Reed's existing portfolio serving this market. This transaction involves a total of 14 staff transfering to William Reed in accordance with the application of TUPE.
http://www.investegate.co.uk/Article.aspx?id=20110301070200P915E
UBM acquires Indian travel tradeshow SATTE Acquires the largest Indian travel and tourism tradeshow for UBM Asia United Business Media Limited today announces that it has acquired SATTE, India's largest travel and tourism exhibition. UBM has acquired the event on behalf of UBM Asia from Cross Section Publications Pvt Ltd. Launched 17 years ago, SATTE (www.satte.org) takes place each January in New Delhi and is now India's largest travel and tourism event. The show performed strongly in 2011 attracting approximately 600 exhibitors and 9,300 attendees from more than 40 countries. SATTE has progressively expanded beyond its original focus on inbound travel to India and now also supports the outbound market. This reflects the rapid rise of domestic Indian spending on international travel. The 2011 edition of SATTE took place on 27 January. SATTE is supported by T3, the leading controlled circulation monthly publication for the Indian travel indusry and which is an official publication at many of India's travel industry events. T3 contributed around 15% of the business's $1.6m revenues in 2010. Completion of the acquisition of T3 is subject to Indian regulatory approval. Approval is expected to be granted by the end of April. As at 31 March 2010, SATTE's gross assets were £630,000. Navin Berry, SATTE's founder, owner and publisher of Cross Section will remain with the business post-completion. In addition to Mr Berry, the business employs 12 staff in New Delhi, Mumbai and Bangalore. The acquisition is anticipated to exceed UBM's cost of capital criterion in its first full year of ownership. Jimé Essink, President & Chief Executive Officer of UBM Asia said: "The acquisition of SATTE brings us a leading position in India's rapidly-growing travel and tourism industry and adds to our portfolio of tradeshows in India where we are already one of the country's largest commercial event organisers. We are committed to continuing to invest in and expand our business in India, leveraging UBM's existing worldwide interests in the travel and aviation markets."
http://www.investegate.co.uk/Article.aspx?id=20110301070200P42B0
UBM disposes of French medical print business United Business Media Limited today announces that it has sold its French medical newspaper and magazine business to a management buyout team led by Gérard Kouchner, the business's Chief Executive since 2005. UBM has sold the business on behalf of its UBM Medica division and will retain a 37.1% equity stake. The cash consideration was €4.4m and UBM has extended vendor finance of €6m to the management buyout team, valuing the transaction at €13m on an enterprise basis. The business publishes weekly, bi-weekly, monthly and other subscription and controlled circulation titles for the French healthcare professional community. It also has a number of smaller print media and customised marketing products for the French medical community. In 2010 the business generated revenues of approximately €40m and employed around 170 staff at its Paris premises. The transaction further rationalises UBM's print product portfolio and continues UBM's progression towards a portfolio of integrated cross-media marketing services designed to serve specific commercial and professional communities.
http://www.investegate.co.uk/Article.aspx?id=20110301070200P39CF
David Levin, UBM's Chief Executive Officer, commented: "UBM has delivered a robust performance in 2010 achieving 4.9% headline revenue growth, bolstered by 20% growth in our largest Emerging Markets of China, India and Brazil which now account for a quarter of our adjusted operating profit. Our consistent strategy of developing products in winning formats, targeting attractive business communities in growing geographies, provides us with a good platform for growth. We are investing in our people, our products and services and, in addition, we made 22 acquisitions during 2010 which have strengthened our offering and geographic reach. Initial trading in 2011 is encouraging and we are cautiously optimistic about our results for the full year."
Solid results - Investing for growth Results for the Year Ended 31 December 2010 - Headline revenue growth of 4.9% - underlying revenue growth of 5.6% - Adjusted operating profit broadly flat at £171.8m reflecting higher investment in new product development, sales and IT - Adjusted EPS of 51.0p per share (2009: 55.1p) - Final dividend of 19.0p to give full year dividend of 25.0p (2009: 24.2p) up 3.3% - Emerging Markets(a) now 28.6% of total adjusted operating profit, up 20.6% - Acquisition strategy continues: 22 acquisitions with £258.0m invested during the year - Canon integration on track; business performing well - Cash generated from operations up 8.4% to £154.7m - Comfortable debt maturity profile following successful $350m bond issue
http://www.investegate.co.uk/Article.aspx?id=20110301070000PB60F
UBM suffers sell-off Date: Tuesday 01 Mar 2011 LONDON (ShareCast) - Full year numbers from events and publishing group United Business Media (UBM) looked harmless enough, but investors are spooked, sending the shares down 10%. Adjusted profit before tax fell 5.3% to £156.4m, although a 4.5% increase in revenue at constant currency to £889.2m was better than expected. Underlying revenue grew 5.6%, up from 2.1% for the nine months. “We expect the improved quality and shape of the business to result in sustained underlying revenue growth during 2011 broadly in line with that enjoyed in 2010,” it said. “Overall we anticipate continued growth in profit largely driven by a full year of contribution from our acquisitions and continued momentum in our Events business tempered by targeted investment in Data Services, TD&M and Online.” The firm has also been in deal mode, selling its French medical newspaper and magazine business for €13m on an enterprise basis, and its UK licensed trade portfolio for up to £1.65m. But the money won’t be burning a hole in UBM’s pocket. It has bought a stake in Famdent, India's largest dental exhibition and conference business, and snapped up SATTE, India's largest travel and tourism exhibition. The final dividend of 19p a share gives a full-year payout of 25p, up 3%.
giving a 3.2% return at these levels... nice ......goes exdivi next week anyone else in?
I have no idea what this means. All I want to know is what that means in US dollars.