25 Oct 2022 14:53
TRADING UPDATES: Gunsynd invests; AQRU launches crypto-backed loans
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Don't have an account? Click here to register.Sector movers: Petrofac profit warning sinks oil services stocks, OPEC meeting eyed
Mon, 24th Nov 2014 15:11
A profit warning from blue-chip oilfield services group Petrofac rattled the oil services, equipment and distribution sector in London on Monday, with stocks falling by an average 10%.There was nervousness ahead of a pivotal meeting of the Organization of Petroleum Exporting Countries (OPEC) on Thursday, when members will face a tough decision over whether to cut output in the wake of a 30% slump in crude prices since June.Petrofac's share price had crashed over 25% after the company scaled back its profit assumptions for next year, saying that depressed oil prices and the timing of deliveries will result in a weaker bottom line.Chief executive Ayman Asfari said it has been a "difficult period for Petrofac and the industry" and that the company's execution on a number of its projects has "fallen short of the high standards we set for ourselves".Net profit for 2014 is now being guided to come in at the low end of the expected $580m-600m range, down from $650m in 2013. Furthermore, while Petrofac had previously forecast "strong earnings growth" for 2015, net profit next year is now only predicted to be just $500m.Every $1 movement in the oil price - currently trading at its lowest in four years - has a $2m impact on Petrofac's net profit, the company said.Analyst Tony Shepard from Charles Stanley said the update was "another disappointment after several earlier profit warnings". He said: "Unfortunately, there are still too many uncertainties over the outlook including weak cash flow and strategy."Others in the oil services sector were also taking a hit from negative read-across, including Greka Drilling, Hunting, Amec Foster Wheeler, Wood Group, GETECH and Lamprell.Meanwhile, the OPEC meeting, which will be held in Vienna at the organisation's headquarters, is expected to divide OPEC's 12 members over the decision whether or not to cut output, prompting investors to tread cautiously in London.Any further weakness in the oil price could prompt oil exploration and development companies to scale back spending on projects, sparking concerns about demand in the oil services sector.OPEC, which produces around a third of global crude output with a target of 30m barrels per day, is "stuck between a rock and a hard place", according to analyst Connor Campbell from Spreadex."If they cut production the US can consume more of the market share, and become less reliant on the oil cartel; if they don't, oil's fall will be swift and unforgiving. We won't know until Thursday what side OPEC's coin toss will land," he said. Top performing sectors so far todayFixed Line Telecommunications 4,464.78 +2.99%Health Care Equipment & Services 6,376.56 +2.89%Industrial Metals & Mining 1,534.85 +1.72%Automobiles & Parts 7,874.61 +0.90%Electronic & Electrical Equipment 3,790.10 +0.70%Bottom performing sectors so far todayOil Equipment, Services & Distribution 20,214.48 -9.72%Industrial Transportation 2,707.97 -1.68%Mining 15,450.86 -1.68%Food Producers & Processors 7,957.39 -1.27%Mobile Telecommunications 5,057.50 -1.10%
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3 Oct 2022 21:46
TRADING UPDATES: Public Policy buys KP; Plus500 enters partnership
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
Read more19 Sep 2022 13:56
UK shareholder meetings calendar - next 7 days
| Tuesday 20 September | |
| AdEPT Technology Group PLC | AGM |
| Appreciate Group PLC | AGM |
| Cake Box Holdings PLC | AGM |
| DP Eurasia NV | EGM appointment of independent non-executive director |
| DSW Capital PLC | AGM |
| FIH Group PLC | AGM |
| Global Ports Holding PLC | AGM |
| Gore Street Energy Storage Fund PLC | AGM |
| Ilika PLC | AGM |
| Manolete Partners PLC | AGM |
| Moonpig Group PLC | AGM |
| ProCook Group PLC | AGM |
| Quiz PLC | AGM |
| Shearwater Group PLC | AGM |
| SulNOx Group PLC | AGM |
| Utilico Emerging Markets Trust PLC | AGM |
| Zoo Digital Group PLC | AGM |
| Wednesday 21 September | |
| Games Workshop Group PLC | AGM |
| Hipgnosis Songs Fund Ltd | AGM |
| IG Group Holdings PLC | AGM |
| India Capital Growth Fund Ltd | AGM |
| Merit Group PLC | AGM |
| Schroder Real Estate Investment Trust Ltd | AGM |
| SDI Group PLC | AGM |
| Seraphine Group PLC | AGM |
| Tintra PLC | AGM |
| Thursday 22 September | |
| Begbies Traynor Group PLC | AGM |
| Ecofin Global Utilities & Infrastructure Trust PLC | GM pre-emption rights |
| IG Design Group PLC | AGM |
| Liontrust Asset Management PLC | AGM |
| Oberon Investments Group PLC | AGM |
| Odyssean Investment Trust PLC | AGM |
| Rockwood Strategic PLC | GM trading to the premium segment |
| Trakm8 Holdings PLC | AGM |
| Worsley Investors Ltd | AGM |
| Friday 23 September | |
| Accsys Technologies PLC | AGM |
| Biffa PLC | AGM |
| Bradda Head Lithium Ltd | AGM |
| Fusion Antibodies PLC | AGM |
| In The Style Group PLC | AGM |
| Safestay PLC | AGM |
| Wise PLC | AGM |
| Monday 26 September | |
| Babcock International Group PLC | AGM |
| Eastinco Mining & Exploration PLC | AGM |
| Eckoh PLC | AGM |
| ECO Animal Health Group PLC | AGM |
| Great Eastern Energy Corp Ltd | AGM |
| Lamprell PLC | EGM re delisting |
| Mediclinic International PLC | Court & GM re takeover by Remgro, SAS |
| RPS Group PLC | GM cash offer agreement |
| Copyright 2022 Alliance News Limited. All Rights Reserved. | |
8 Sep 2022 14:00
Lamprell inks Moray West wind farm deal worth over USD200 million
(Alliance News) - Lamprell PLC on Thursday said it has signed a contract for Moray West Offshore Wind Farm, worth over USD200 million.
Read more30 Aug 2022 15:58
UK shareholder meetings calendar - next 7 days
| Wednesday 31 August | |
| Fulham Shore PLC | AGM |
| GYG PLC | GM cancellation of admission of Ordinary Shares to trading on AIM |
| Invinity Energy Systems PLC | AGM |
| James Latham PLC | AGM |
| Rural Broadband Solutions PLC | AGM |
| Scottish Investment Trust PLC | GM re recombination of assets with JPMorgan Global Growth & Income PLC |
| Thursday 1 September | |
| Carclo PLC | AGM |
| Circassia Group PLC | GM name change |
| Jet2 PLC | AGM |
| JLEN Environmental Assets Group Ltd | AGM |
| Phoenix Global Resources PLC | GM cancellation of listing |
| Picton Property Income Ltd | AGM |
| Watches of Switzerland Group PLC | AGM |
| Friday 2 September | |
| Triple Point Income VCT PLC | AGM |
| Monday 5 September | |
| Highway Capital PLC | AGM |
| Hill & Smith Holdings PLC | AGM |
| Hydrogen Utopia International PLC | AGM |
| LXi REIT PLC | AGM |
| Monks Investment Trust PLC | AGM |
| Totally PLC | AGM |
| Tuesday 6 September | |
| Ashtead Group PLC | AGM |
| Berkeley Group Holdings PLC | AGM |
| Brickability Group PLC | AGM |
| Castelnau Group Ltd | AGM |
| DS Smith PLC | AGM |
| Lamprell plc | AGM |
| Renold PLC | AGM |
| Copyright 2022 Alliance News Limited. All Rights Reserved. | |
26 Aug 2022 17:07
LONDON MARKET CLOSE: Stocks slump as Powell says Fed to act with force
(Alliance News) - Stocks in Europe ended sharply lower on Friday as US Federal Reserve Chair Jerome Powell made price stability paramount, despite the "pain" that will be caused by moves to tame rampant inflation.
Read more26 Aug 2022 11:52
Thunderball takes over Lamprell as it increases stake to 50%
(Alliance News) - Thunderball Investments Ltd on Friday said its takeover offer for Lamprell PLC has become unconditional after it said it bought enough shares to get its stake in the company to over 50%.
Read more26 Aug 2022 10:33
SMALL-CAP WINNERS & LOSERS: Oxford Cannabinoid sinks on trial delay
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
Read more12 Aug 2022 11:59
IN BRIEF: Lamprell shares drop further as trading in London restored
Lamprell PLC - United Arab Emirates-based provider of oil field services - UK Financial Conduct Authority restores trading of its shares on London Stock Exchange.
Read more8 Aug 2022 10:05
Lamprell full-year loss widens on Covid-related headwinds
(Alliance News) - Lamprell PLC on Monday reported a widened full-year loss as the firm grappled with lockdowns, travel restrictions and a loss of productivity in the year.
Read more4 Aug 2022 19:35
IN BRIEF: Lamprell repays USD45 million revolving loan facility
Lamprell PLC - United Arab Emirates-based provider of oil field services - Confirms repayment of USD45 million revolving trade loan facility backed by UAE Export Credit Agency.
Read more22 Jul 2022 07:00
IN BRIEF: Thunderball agrees to make formal Lamprell takeover offer
Lamprell PLC - United Arab Emirates-based provider of oil field services - Potential buyer Thunderball Investments Ltd, a consortium of Blofeld Investment Management Ltd and Al Gihaz Holding Co, says it agrees to make a formal takeover offer for Lamprell. The consortium companies have a combined stake of 45% in Lamprell. The formal takeover offer worth GBP38.8 million confirms the non-binding offer from July 12. It values Lamprell at 9 pence per share and includes a proposed secured bridging loan with a peak total amount of USD145 million. The formal takeover offer will be send to Lamprell shareholders within 28 days from Friday. Lamprell started considering a sale in June due to its liquidity position and funding requirements of USD75 million.
Read more12 Jul 2022 11:15
IN BRIEF: Lamprell intends to recommend takeover offer to shareholders
Lamprell PLC - United Arab Emirates-based provider of oil field services - Notes that it received a combined non-binding indicative all cash offer to buy its entire issued share capital on June 24. The offer is from Blofeld Investment Management and Al Gihaz Holding Co. Both companies have a combined stake of 44% in Lamprell. The offer values Lamprell at 9 pence per share and includes a proposed secured bridging loan with a peak total amount of USD145 million.
Read more4 Jul 2022 15:31
IN BRIEF: Sami Al Angari raises stake in Lamprell amid takeover talks
Lamprell PLC - United Arab Emirates-based provider of oil field services - Shareholder Sami Al Angari raises stake in company to 18% from 6.6% as at Tuesday last week.
Read more1 Jul 2022 10:00
Lamprell shares suspended; shareholder mulls possible takeover offer
(Alliance News) - Lamprell PLC on Friday confirmed that 19% shareholder Sami Al Angari is in the early stages of mulling a takeover offer for the company, alongside a funding package to support the repayment of Lamprell's existing debt facilities.
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