Sareum Share News (SAR)

ING UK Real Estate Income Trust will repay £15m of debt through the purchase and cancellation of loan notes at a discount to nominal value in two separate transactions.The transaction will result in a one off gain to NAV expected to be in the order of £680,000, and will also save over £719,000 per annum in interest charges."This is an opportunistic purchase, enabling us to enhance both the underlying NAV and income account, whilst de-risking the overall portfolio by maintaining the current LTV ratio and improving the interest cover position, fund manager Michael Morris said.Angus Forrest, training and e-learning group Intellego's chairman, says the firm has won a material order with a leading retail specialist to provide productivity improvement services for the next 12 months. Order intake in the third quarter of the year ending 31 March 2010 was £898,000.Oxford Instruments performance from October to January was in line with the board's expectations and above the same period in the prior year, aided by the effects of the restructuring programme implemented last year and favourable currency movements. Research markets remain robust. The tentative signs of improvement in Industrial markets continue, albeit from a low level and visibility remains limited, it added.Lower than expected endoscopy sales and higher field costs will mean Puricore's earnings this year missing targets, though it says the miss will not be significant. Fourth quarter sales in 2009 were $10.4m, up 75%, while revenue for the year was about $40m, up 19%. "In 2010, the company anticipates cash flow profitability in PuriCore's Endoscopy business in the UK and continued significant progress in the Food Safety business in both the US and Canada," it said. Cake and bread maker Finsbury Food Group has appointed Stephen Boyd as its new finance boss and confirmed it continues to trade in line with market expectations.The 47-year-old, who has experience at WT Foods, Noon Products and Golden Wonder, replaces Lisa Morgan who'll leave the company by the end of March 2010.Renewable fuels company GTL Resources had a record December, with subsidiary Illinois River Energy selling 9.8 million gallons of ethanol and 24.2 thousand tons of dried distillers grains with solubles.'With the recent commodity margin rally in the ethanol industry coupled with GTL's strong operational performance since September 2009, the group expects to report improved results in the second half,' said the firm.Asset finance company 1pm said trading has been in line with management expectations since its last trading update in October. Revenue in the 6 months to 30 November 2009 edged higher to £0.68m from £0.66m the year before, but the loss before tax widened to £0.23m from £0.01m.Bad debt write-offs in the period were £95,000, while general bad debt provisions of £120,000 were accrued as a result of a number of customers going bankrupt during the reporting period.Brulines, which provides monitoring systems and data management services for the UK leisure sector, has won a contract to supply vending telemetry hardware over a period of three years to an unnamed international consumer goods company.Chinese specialist engineering company China Wonder has taken a £0.2m loan from Wonder Employees Capital Limited (WECL), a company wholly owned by Qingjie Zhao, a substantial shareholder.The loan accrues interest at a rate of 5% per annum. The loan agreement gives WECL the right to convert the loan into ordinary shares in the capital of China Wonder at a price of 10p per share. Scientists at the Institute of Cancer Research and Sareum have developed a chemical compounds that increase the effectiveness of current cancer therapeutics.Media services business Dawson Holdings is on the look-out for a new finance director after the current position holder, Adrian Wood, announced his intention to retire from the role on 31 March. Wood will stay on as company secretary until the end of June.