Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Trading update for the financial year ended 31 March 2018. Subject to audit, for the year ended 31 March 2018 the company expects to report a 22% year on year increase in revenues to �13.5 million, and profit before tax and exceptional items of �1.3 million which is broadly in line with market expectations. SRT will publish its final results and annual report on Monday 23rd July 2018. The annual report will be available for download from the Investor section of the SRT website from 8:00am that day, with printed copies mailed to shareholders shortly after. The Company's AGM will be held at 11:00am on Wednesday 5th September 2018 at its offices near Bath. Investors and shareholders are invited to a company open day immediately prior to the AGM on Wednesday 5th September 2018 between 9.00 a.m. and 11.00 a.m. Simon Tucker, CEO of SRT said: "SRT have pioneered the development of the next generation of digital maritime monitoring technologies and systems, whose adoption across the multi-billion dollar global maritime domain awareness market sector is gradually gaining pace, but still remains in its very early stages. These results reflect the excellent progress we have made across all our business operating segments, in particularly our systems business which saw some significant milestone deliverables completed for an Asian project which we will provide more detail on in due course."
From the Chairman: The confidence that we saw at the year-end has continued into the first half of the year. One of the prevalent themes we are seeing is an increased focus on greener materials or those commodities that are associated with electric vehicles or the renewable energy sectors. Polo's portfolio has benefited from this sentiment whilst we are continuing to appreciate the value inherent in the more traditional sectors. We are actively engaging to ensure that Polo's portfolio is at the forefront of the both the emerging and traditional markets. Financial Summary: � Total Net Assets for the six months ended 31 December 2017 were USD61.81 million representing an increase of 30.9% (30 June 2017: USD47.22 million). � Total Net Assets of USD61.45 million as of 21 March 2018 (31 December 2017: USD61.81 million). � Net Asset Value per share as at 21 March 2018 was approximately 14.06 pence per share, USD/GBP = 0.7134 (31 December 2017: 14.69 pence per share, USD/GBP = 0.7412).
Announces that its investee company, GCM Resources Plc ("GCM") (AIM: GCM) has agreed a Contract Framework Agreement with its strategic partner China Gezhouba Group International Engineering Co. Ltd ("CGGC"). The Contract Framework Agreement awards CGGC the exclusive right for the engineering, procurement, construction, and commissioning of a proposed 2,000MW mine-mouth thermal power plant at GCM's proposed coal mine in North-West Bangladesh for an agreed initial estimated cost of US$3.8bn which shall be subject to further adjustments when the parties finalise a full engineering, procurement, construction and commissioning ("EPC") contract. This agreement follows on from the Joint Development Framework Agreement announced by GCM on 9 March this year which outlined the roles and responsibilities of both companies in pursing approval of the Phulbari Coal and Power Project. CGGC is the main international business company of both China Gezhouba Group Corporation and China Energy Engineering Co. Ltd ("Energy China"). Energy China is a super central state-owned enterprise, and in 2017 ranked 312th in the Fortune Global 500. In the last three years, Energy China engaged in the design and construction of power plants with a total installed capacity of nearly 220GW, ranked first in the world. The full details of the announcement can be found at http://www.gcmplc.com/.
Final results for the year ended 31 December 2017 are expected to be released on 10 April 2018.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PTY/13576555.html
announce its preliminary results for the year ended 31 December 2017. Financial highlights From continuing operations and excluding exceptional items � Total revenue increased by 11% to �84.7m (2016: �76.0m) � Adjusted profit before taxation1 and share based payment charges decreased 19% to �5.8m (2016: �7.2m) � Net operating cash flows decreased by 21% to �10.7m (2016: �13.5m) � Adjusted2 basic earnings per share decreased by 4% to 4.23 pence (2016: 4.42p) � Net debt remained in line with the prior year at �10.8m � No proposed dividend given the ongoing discussions with HMRC (2016: 1.0p per share) � As at 19 March net debt is �8.9m. A further �0.8m consideration in relation to the sale of AIS is expected in the next month Commenting on the Results, Jim Meredith, Executive Chairman, said: "2017 was a challenging year with the HMRC Landfill Tax assessments and a decline in Group profitability. We remain in active discussions with HMRC but do not anticipate a swift resolution. Steps have been taken to reduce the Group cost base by �4m and we have also reduced Group debt from over �18m in the Autumn to under �11m by year-end. Trading has commenced the year in line with board expectations." There will be a meeting for analysts at 9.00am today at the offices of FTI Consulting, 9th Floor, 200 Aldersgate, Aldersgate Street, London, EC1A 4HD. For further information please call 020 3727 1000.
The Group's interim results announcement published on 11 September 2017 highlighted that performance of one of its larger contracts with a major UK prime contractor for electro-mechanical trainers and courseware (the "UK Contract") had been delayed due to a re-scoping of the contract requirements. As confirmed in the Group's preliminary results announcement on 12 March 2018, the re-scoping of the UK Contract has been successfully completed and work has recommenced on the contract. The re-stated UK Contract was executed on 19 March 2018, concluding the legal formalities of the re-scoping. The contract value has been increased by �3.5 million to reflect the additional work required. The overall contract value is now just under �12 million with circa �8 million of revenue to be recognised over 2018, 2019 and 2020. With the fundamentals of the re-scoping (including rough-order-of-magnitude price) having been agreed between the parties prior to year-end (and a written agreement made on price early in the new year), the increased value was accordingly reflected within the order book of �34 million previously announced. David Clements, Pennant's Commercial & Risk Director, commented: "We are delighted to have concluded this important amendment to this key contract and look forward to supporting our customer in delivering world-class training aids to the UK Armed Forces." Statement of Intent received Furthermore, Pennant has also received a statement of intent from a major customer in relation to an opportunity to supply its training aids to an end user in the Middle East region. The opportunity is anticipated to be worth approximately �10 million. The opportunity remains subject to contract and the statement of intent does not guarantee that a contract will ultimately be awarded to Pennant. The timing of any contract award is not certain but the Group is optimistic about the contract's prospects and expects to obtain further clarity on the opportunity by the end of June 2018.
announcement made by ExxonMobil Corporation ("Exxon") in relation to its seventh oil discovery, offshore Guyana. The Pacora-1 discovery is the closest discovery to date to the Orinduik Block. Eco currently holds a 40% Working Interest in the Orinduik Block. Pacora-1 encountered approximately 65 feet (20 metres) of high-quality, oil-bearing sandstone reservoir. The Pacora-1 well is located seven kilometres west of the Payara 1 Discovery and is again directly down dip of the Orinduik Block and follows Exxon's previous discoveries on the Stabroek block at the Liza 1 and Liza 2 Fields, Payara, Liza Deep, Snoek, Turbot 1 and Ranger 1 Well locations. Exxon has confirmed that a second drill rig is currently being mobilized for production operations and further exploration on the block. Previously announced Exxon Well locations are indicated below in Fig.1. Fig.1 - Exxon Well locations http://www.rns-pdf.londonstockexchange.com/rns/3177G_-2018-2-28.pdf Gil Holzman, CEO of Eco Atlantic, commented: "This is yet another significant oil discovery on Exxon's Stabroek Block directly down dip and adjacent to our Orinduik Licence. With each well Exxon is further defining the overall scale of this giant field. "Critically these discovery wells sit down dip from the Eco / Tullow block. These thick sand pathways are defining a migration and a charge of this high-quality sand with hydrocarbons. Our technical team is working carefully and conservatively to define the resources within Orinduik. With experts from Total, Tullow, Gustavson, Eco and Kinley all interpreting the processed data as it becomes available, we are building confidence in the world class potential of this block. This Pacora discovery is very close to our border and has added a new and significantly important dimension to our prospectivity."
announcement made by ExxonMobil Corporation ("Exxon") in relation to its seventh oil discovery, offshore Guyana. The Pacora-1 discovery is the closest discovery to date to the Orinduik Block. Eco currently holds a 40% Working Interest in the Orinduik Block. Pacora-1 encountered approximately 65 feet (20 metres) of high-quality, oil-bearing sandstone reservoir. The Pacora-1 well is located seven kilometres west of the Payara 1 Discovery and is again directly down dip of the Orinduik Block and follows Exxon's previous discoveries on the Stabroek block at the Liza 1 and Liza 2 Fields, Payara, Liza Deep, Snoek, Turbot 1 and Ranger 1 Well locations. Exxon has confirmed that a second drill rig is currently being mobilized for production operations and further exploration on the block. Previously announced Exxon Well locations are indicated below in Fig.1. Fig.1 - Exxon Well locations http://www.rns-pdf.londonstockexchange.com/rns/3177G_-2018-2-28.pdf Gil Holzman, CEO of Eco Atlantic, commented: "This is yet another significant oil discovery on Exxon's Stabroek Block directly down dip and adjacent to our Orinduik Licence. With each well Exxon is further defining the overall scale of this giant field. "Critically these discovery wells sit down dip from the Eco / Tullow block. These thick sand pathways are defining a migration and a charge of this high-quality sand with hydrocarbons. Our technical team is working carefully and conservatively to define the resources within Orinduik. With experts from Total, Tullow, Gustavson, Eco and Kinley all interpreting the processed data as it becomes available, we are building confidence in the world class potential of this block. This Pacora discovery is very close to our border and has added a new and significantly important dimension to our prospectivity."
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ECO/13548316.html
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ECO/13548316.html
Entry into TSX Venture 50 Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V: EOG), the oil and gas exploration company with licenses in highly prospective regions in South America and Africa, is delighted to announce it has been recognized as a 2018 TSX Venture 50� company, an annual ranking of top-performing companies on the TSX Venture Exchange (the "TSX-V") over the last year. See http://www.tmx.com/venture50 The TSX Venture 50� comprise the top 10 companies listed on the TSX Venture Exchange in each of the five major industry sectors - mining, oil & gas, clean technology & life sciences, diversified industries and technology - based on a ranking formula with equal weighting given to return on investment, market capitalisation growth, trading volume and analyst coverage. All data was as of December 31, 2017. Gil Holzman, President and CEO of Eco Atlantic Commented: "We are delighted to be included into the TSX Venture 50 for 2018. This achievement is a recognition of the Company's performance as well as the delivery of our strategy. It is also a reflection of the Company's strong performance since its admission to AIM in February 2017. We have licences in two highly prospective regions and have partnered with some of the top companies in our industry, so we are confident that 2018 promises to be yet another exciting year for the Company, not only on our own licences, but also given the busy activity on the neighbouring oil licences in both Namibia and Guyana."
ECO Press Release: Entry into TSX Venture 50 Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V: EOG), the oil and gas exploration company with licenses in highly prospective regions in South America and Africa, is delighted to announce it has been recognized as a 2018 TSX Venture 50� company, an annual ranking of top-performing companies on the TSX Venture Exchange (the "TSX-V") over the last year. See http://www.tmx.com/venture50 The TSX Venture 50� comprise the top 10 companies listed on the TSX Venture Exchange in each of the five major industry sectors - mining, oil & gas, clean technology & life sciences, diversified industries and technology - based on a ranking formula with equal weighting given to return on investment, market capitalisation growth, trading volume and analyst coverage. All data was as of December 31, 2017. Gil Holzman, President and CEO of Eco Atlantic Commented: "We are delighted to be included into the TSX Venture 50 for 2018. This achievement is a recognition of the Company's performance as well as the delivery of our strategy. It is also a reflection of the Company's strong performance since its admission to AIM in February 2017. We have licences in two highly prospective regions and have partnered with some of the top companies in our industry, so we are confident that 2018 promises to be yet another exciting year for the Company, not only on our own licences, but also given the busy activity on the neighbouring oil licences in both Namibia and Guyana."
Has anyone got the number of shares PIRI holds in ECO ? https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ECO/13540157.html
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ECO/13540157.html
Announces that, following the announcement made on 10 November 2017, its wholly owned subsidiary, Trinity Capital Mauritius Limited ("TCML") has received from Trinity Capital (Ten) Limited ("TC-10") an amount of �1.7 million. These monies constitute the proceeds from the disposal of TCML's last remaining investment in India, which had been held through TC-10. Consistent with previous announcements, the Board intends to convene shareholder meetings as soon as practicable to seek approval to distribute substantially all of the Company's remaining cash not required to meet operating costs and liabilities, cancel the admission to trading of the Company's shares on AIM and appoint a liquidator of the Company. A circular including notices convening the necessary general meetings, will be sent to shareholders in due course.
My mistake. The requirement was reduced from 10% to 5% in 2009.
Should there be at least a minimum 10% of the shareholders entitled to vote in order to convene an EGM ?
nterview on Sky News One of Symphony's Directors, Michael Stephen was interviewed on Sky News yesterday about the Prime Minister's announcement on plastic waste. He said that whilst the company supports recycling, there is a "black hole" in the government's policy. This is because the plastic waste cannot be collected for recycling if it has escaped into the open environment, and especially into the oceans. For this reason, we should stop using old-fashioned plastic. Symphony's scientists have found a way to upgrade the plastic so that it will convert itself into biodegradable materials at the end of its useful life and will be recycled back into nature like a leaf or a piece of seaweed. It is crucial to understand that it does not just fall into fragments, but the molecular structure is dismantled so that it is no longer a plastic. Ordinary plastic can be upgraded with Symphony's technology by existing plastics factories at little or no extra cost and with their existing machinery and workforce. An added bonus is that if it does get collected before it has degraded it can be safely recycled with ordinary plastic. Michael Stephen pointed out that countries in the Middle East such as Saudi Arabia and the UAE have already legislated to require the use of upgraded plastic, and Symphony thinks that the UK and the EU should do the same. He has had meetings with officials in Brussels, and Symphony is willing to brief the Secretary of State for the Environment, Michael Gove. To view the broadcast on Sky News see: https://youtu.be/-cctnvC4vic On the same day, Symphony's CEO, Michael Laurier, was interviewed on BBC 3 Counties Radio.
update on trading following the end of its financial year on 31 December 2017. The Group's profit before tax for the year ended 31 December 2017 is expected to be above market expectations due to the positive net effect of exceptional items arising in the year. The Group expects to report 2017 revenues to be up year on year to �15.6 million. However, some delays in programmes to develop additional software functionality for eyeTrain systems has resulted in approximately �1 million of revenues being deferred into 2018. These relate to scheduled deliveries of both software and equipment and accordingly profit before tax from trading operations will be lower than previously expected. Set against this, the 2017 results include two exceptional items. First, the Group has received and accepted an offer to settle a historic matter, unrelated to the current trading activities of the Group, which arose over ten years ago. Under the settlement the Group will receive a total of �702,000 in cash comprising an amount of �362,000 plus compensatory interest of �340,000. The Board considers this to be a very satisfactory outcome. The terms of the settlement preclude the Group from providing further details. The second exceptional item is also unrelated to the current trading activities of the Group. The Board has decided that any future activities that the Group may undertake in the US will not be conducted through its present US subsidiary which has been dormant for several years. In accordance with International Accounting Standards, the �211,000 deficit on the Group's currency translation reserve will be reclassified from equity to income and shown as an expense. The reclassification has no impact on the Group's net assets or cash. Raschid Abdullah, Chairman of Petards Group plc said: "It was pleasing that in December we completed both the full conversion of the Group's �1,480,000 outstanding loan notes into Petards ordinary shares and have subsequently received the settlement of �702,000. As a result, the Group's balance sheet has been substantially strengthened with the removal of the loan note liability that was due for redemption in September 2018 and its cash resources have been increased this week following receipt of the �702,000. While it is disappointing that delays in the development programmes for new eyeTrain products has deferred some revenues into 2018, the Group continues to trade profitably and enters 2018 with an order book of �18 million. Over �12 million of this is scheduled for delivery in the coming year and the Board remains confident of the Group's future prospects."