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CSLTTue, 01st May 2012 09:55
Feb 15 (Reuters) - Safety equipment maker Cosalt Plc , which warned last week it faced insolvency, said its bankers would appoint administrators to run the company after failing to reach an agreement on its debts and funding for its pension scheme. The company said it had failed to find an
Read moreCosalt, the Lincolnshire based company which provides life jackets and safety harnesses for the oil and gas industry, has said that it is continuing discussions with its lenders in an effort to find a solution to its financial difficulties, but warned the deficit on its pension scheme has grown. T
Read moreAmerica´s largest airline is plotting to take control of Virgin Atlantic after making a secret approach to the British carrier's big Asian shareholder. Delta Air Lines is understood to have offered to buy Singapore Airlines' 49 per cent holding in Virgin. If it succeeds, Delta's European partner, Ai
Read moreMining stocks are dragging the Footsie down in early going, while banks are also weak as investors bank profits after the sector shot up on Friday. Royal Bank of Scotland (RBS) is one of the big fallers in the banking sector after the long-awaited report from the Financial Services Authority (FSA)
Read moreThe chairman of struggling Grimsby-based company Cosalt has sent a letter to shareholders urging them to sell their shares to him, as time is running out for the company. In the letter, David Ross, whose grandfather founded the oil and gas sector safety firm a century ago, said: "It is clear, I bel
Read moreCosalt, the Lincolnshire based company which provides life jackets and safety harnesses for the oil and gas industry has seen its shares jump 28% this morning on news of a new credit facility. The £5m overdraft is being provided by David Ross, who co-founded Carphone Warehouse but who has had a lon
Read moreEvery day this week and last the Footsie has been stuck in reverse gear but today it jolted forward, thanks to a little help from Wall Street, which opened higher. Banks led the advance on hopes that there is truth in the rumours that European policy makers are set to drop the requirement for priva
Read moreLondon experienced a quiet morning, but the trend remained down, with the US market expected to open lower when it resumes trading today after yesterday's Thanksgiving Day holiday. US markets will close early today to enable traders to join the throngs of shoppers enjoying - or enduring - 'Black Fri
Read moreWith the US closed yesterday for the Thanksgiving Day holiday, London has no lead to follow in terms of market direction so it has resorted to its default setting of 'reverse'. Mining stocks are taking the low road as metal prices soften, and are taking the blue-chip index with them. The biggest b
Read moreThe haggling over price between oilfield safety equipment provider Cosalt and its chairman, David Ross, is over, and judging by the share price reaction, the directors of the crisis-torn firm spent most of the negotiations bent over an oil barrel. Ross, who co-founded mobile phone seller Carphone W
Read moreCosalt, the struggling Grimsby-based safety company for the oil and gas sector, has said that the firm's cash flow position has continued to deteriorate. The company now has only £900,000 of bank facilities available, which represents sufficient working capital only until 30 November 2011. "The
Read moreCosalt, the struggling Grimsby-based safety company for the oil and gas sector, is considering an offer from its non-executive chairman. David Ross, whose family has been involved with Cosalt for 50 years, has made an offer of 0.1p per share, valuing the company at £404,000. The current market capi
Read moreFootsie enjoyed a buoyant if unspectacular day, with almost two-thirds of its constituents finishing in the blue. The market shrugged off the news that Spain's credit rating has been cut by two notches by the Moody's rating agency, and preferred to concentrate on a report in The Guardian newspaper
Read moreCosalt, the struggling provider of safety equipment to the oil industry, has lowered its trading expectations for the year to be 'significantly lower' than previously anticipated. The announcement saw the share price drop more than 58.15% to 0.68p from 0.94p overnight. The share price has fallen 8
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