Member Info for jange

Al Noor Hospitals Group's announcement that is has bought the Gulf International Cancer Centre is another important strategic step, according to Jefferies International. The largest private healthcare service provider in Abu Dhabi bought the centre, which offers a range of treatments in oncology, for $21.8m as part of a strategy to broaden its range of services. Jefferies, which recommended a 'buy' rating for the stock, said the company continues to execute in-line with what it communicates.

In consideration of the rollover and the revised payment terms, Gasol is awarding BBH 120,000 warrants for subscription of up to 120,000 ordinary shares of Gasol at an exercise price of 30p per share. The warrants can be exercised in whole or in part at any time up to 7 January, 2015.

RNS Number : 6028W Gasol plc 31 December 2013 Gasol plc ('Gasol' or the 'Company') (AIM: GAS) Gasol rolls over half of BBH funding facility Then Board of Gasol today announces that it has agreed terms with Banque Benedict Hentsch & Cie SA ("BBH") for the rollover of half of its maturing convertible loan facility by one year to a new maturity date of 30 December, 2014. The remaining 50% of the maturing facility has been repaid from cash. The revised terms of the new BBH Facility comprise: · The principal amount of the facility is £364,437.76; · An interest rate of 5% payable at maturity or conversion; · A conversion option whereby BBH has the right to call for the conversion of the loan, in whole or in part, into ordinary shares of Gasol at a price of 20p per share. Conversion may take place at any time up to 30 December, 2014; and · Repayment (to the extent not previously converted) on 30 December, 2014. Repayment may be made, at the Company's choice, either in cash or in Gasol's shares (priced at a 10% discount to the mid-market closing price on the day before repayment).

Under the radar goods luck

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=SWAP&ArticleCode=y15uwdb0&ArticleHeadline=Grant_of_share_options_to_employees

Going to take abit of reading today to digest .....

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=GAS&ArticleCode=p69lpv2l&ArticleHeadline=Acquisition_and_Statement_re_Suspension

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=ENEG&ArticleCode=qi2hpxdq&ArticleHeadline=Operational_and_Corporate_Update

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=ENEG&ArticleCode=awcrk3x9&ArticleHeadline=Results_for_the_year_ended_30_June_2013

Cambria's track record speaks for itself. The business is tightly run, which has created a strong balance sheet and sector-beating returns on capital from which to fund future growth. With the UK new car market expected to expand over 2014 and with Cambria about to move into a new growth phase, jump aboard these undervalued shares before they speed away...........as always DYOR and good luck.

Underpinning Cambria's success is a strict adherence to stringent operating parameters. This means purchasing asset-backed businesses with no, or very little, goodwill, and without legacy assets such as burdensome pension schemes. As a result, the balance sheet is unusually robust with just £356,000 of intangibles out of £24.6m of net assets, plus a net cash pile of £2.9m. Analysts at N+1 Singer believe by using the funds at its disposal, Cambria could boost sales by about 70 per cent. Additionally, Cambria's pre-tax return on capital employed is 20 per cent - double that of the peer group average. This explains why Singer's analysts describe the rating as "anomalous" - Cambria trades on a calendar year 2014 PE ratio of 12.8 - a 10 per cent discount to the peer group. On an enterprise value-to-sales basis, the discount rises to 53 per cent. The caveat here is that Cambria's growth could be curtailed by an improvement in Europe's car market, and there are indeed signs that it's troughing. Still, a sustained recovery will take some time to materialise and the UK market is still 15 per cent off previous peaks. Declining consumer confidence is another risk factor, but economic data is positive and points towards an uptick in consumer spending - at least in the near term.

In an industry that's still highly fragmented, there's a lot of potential for Cambria's growth-through-acquisition strategy. Formed in 2006 and built up from scratch, Cambria typically buys up distressed businesses and quickly turns them around. Its track record here is strong. Take 2007 when Cambria acquired Summit Auto Group, which made a £6.9m pre-tax loss in the previous year. Following the acquisition, the business made a profit contribution of £800,000 after just eight months of trading. There have been nine successful acquisitions since Cambria's inception, so it now represents 17 brands through 27 dealerships. An impressive set of results covering the year to August further demonstrates the strength of its strategy. New vehicles sales leapt 16.1 per cent by volume, resulting in a 32 per cent rise in adjusted pre-tax profit to £4.1m - and this was despite some of its assets still being in turnaround mode. Now, a strategic shift in favour of acquiring higher-quality dealerships that are immediately earnings enhancing means Cambria's growth should accelerate further. "The way I describe it is we are coming to end of toddlerhood and growing into adolescence," says chief executive Mark Lavery.

The country's roads are awash with shiny new vehicles and driving this automotive spending spree is, perhaps surprisingly, mainland Europe. With demand for new cars weak on the continent, car manufacturers, faced with over supply, are showering UK consumers with cheap financing deals, as Britain's economy is healthier. The concomitant effect has been that stocks in this retail sub-sector have performed extremely well this year, and given the cyclical nature of the industry and rising consumer confidence, it appears 2014 will be a good year, too. It's not surprising then, that the sector has seen a significant re-rating. But one company, Cambria Automobiles (CAMB) has fallen under the radar - until now. That's partly because Cambria's so much smaller and younger than its peers - it only floated on the Alternative Investment Market in 2010. But having just reported a bumper set of full-year results and with a clear growth strategy, an unusually strong balance sheet and superior returns on capital to top it all off, the cheaper rating has attracted attention from City analysts and the shares seem to be gearing up for acceleration

We believe the erotion of Hunting's long-established premium rating will be temporary making this a prime time to jump aboard. And, while the shares are unlikely to be a top choice for income-hunters based on a forecast 2014 yield of 3 per, the payout should be seen in the context of a very impressive track record of 17 per cent compound annual growth over the last five years............but as always DYOR and good luck.

The Titan deal added perforating gun systems for fracturing shale rock and other hardware used in unconventional oil & gas production, all of which were complementary to Hunting's existing drilling technologies. Hunting's experienced management team, headed by Texan Dennis Proctor, were quick to spot the industry swing towards horizontal drilling, and have positioned the group to exploit it through a number of strategic bolt-on acquisitions, although net debt has been kept at manageable levels. Prior to the acquisition, Titan laid claim to a 30 per cent market share of its segment within the domestic shale industry, and while two-thirds of group production still takes place in the US, Hunting is increasingly looking eastwards to drive future growth. A new distribution centre for its products was opened up in Jakarta during the first half of this year, while manufacturing capability for some of its drilling hardware has been established in China. Management has one eye on the potential growth of shale oil production in the People's Republic, which can arguably lay claim to the third biggest reserves in the world. Development of the industry has been hampered by a lack of expertise. But there are now high hopes after US major Hess Corp signed a landmark shale deal with PetroChina in July. It's conceivable that demand for Hunting's hardware could expand rapidly if China's incipient shale industry even partially replicates the roll-out in the US - time will tell.

Of course, Hunting's share price isn't likely to recover if problems linked to reduced rig activity in Canada and excess inventories in the US persist, but there are indications (including Baker Hughes stats) that activity has picked up appreciably in US shale production and in the Gulf of Mexico, so group revenues are likely to be weighted heavily towards the second half. A recent interim management statement pointed to improved conditions since July compared to the first half of the year, but a number of the group's businesses continue to report mixed trading. The report prompted Goldman Sachs to reduce its target price to £10.60 from £11.00, contributing to recent share price weakness. Nevertheless, recent research from HSBC suggests that the importance of 'rig count' as a lead indicator in North America's oil equipment & services sector is becoming less relevant due to the preponderance of horizontal drilling and the expansion of hydraulic fracturing, while Deutsche Bank maintains that "structural growth drivers of Hunting's business beyond the rig count remain underestimated". These areas of the industry are well served by Hunting's proprietary technologies, particularly in light of the $775m (£484m) acquisition of Titan Group in 2011.

We've long been admirers of Hunting (HTG), a supplier of proprietary oilfield services equipment, but the trouble is - so are a lot of other people. With a free float of 93 per cent, there's no issue with liquidity, but the quality of the group's offering means that the shares tend to be well supported. With a more modulated share price performance than many of its peers, it hasn't always been easy to pick up Hunting's shares on the dips, but a first half fall-away in the North American oil rig count has weighed on the group's share price, thereby creating an attractive entry point for investors looking to buy into Hunting's long-term growth potential. Hunting's share price slide means that it is currently trading 15 per cent below its 12-month high, but importantly it remains above its key 720p support level. More tellingly, according to Bloomberg consensus forecasts for the next 12 months, Hunting's shares, which over the last two years have commanded a PE rating premium to the peer group of almost 30 per cent, now trade on par with rivals. Meanwhile, its enterprise-value-to-operating profit ratio is at a relatively meagre 6 per cent premium to the peer group, compared with a historic average of 21 per cent. Move now and you'll also be getting in below Hunting's 50-day and 200-day moving averages of 833p and 842p, respectively.

That suggests that the company's September book value per share was closer to 264p - to which the shares trade at a 20 per cent discount. Nor is this discount theoretical. The vehicle is obliged to hold a continuation vote in a year's time, so in the unlikely event that the Macau property market suddenly freezes over, investors can simply demand their money back at book value - crystallising a 25 per cent gain..............but as always DYOR and good luck

But - as the inefficacy of previous cooling measures shows - it is impossible for the government to address the underlying problem: rapid growth on an island market where supply is radically constrained by geography. In the first half of 2013, Macau's economy grew by 11 per cent year on year to $10.6bn. Revenues in the gaming sector - the backbone of this economy - were up nearly 17 per cent. Retail sales rose 20 per cent by value. The government reckons the island's population will have to expand by 20 per cent over the coming three years to support this economic growth. Crucially, however, investors don't even need to believe in this admittedly distant growth story to find Macau Property’s stock attractive. The valuation case alone is compelling enough. In August Macau Property agreed to sell its two assets in Zhuhai, just across from Macau on mainland China, for $64m - a 42 per cent premium to their latest book value. When this deal completes early next year, it will crystallise a one-off gain of 13p, which broker Liberum Capital expects to be distributed as a dividend, which would be equivalent to a yield of over 6 per cent.

And that was one of the more modest revaluation figures in Macau's annual results. Another residential project, The Fountainside, was marked up 54 per cent thanks to progress on development and pre-sales. The Green House, an unusual detached home the company bought in 2007, rose 32 per cent to $16m even though Macau Property did nothing to it. Even Senado Square, a retail redevelopment project that has been held up by planning, increased 16 per cent. The sheer strength of such numbers inevitably calls into question their sustainability. The Macau property market has been roaring since 2010, despite various attempts by the government to cool it. The latest measures, introduced in July, include compulsory licensing of estate agents and a new checklist of requirements for off-plan sales. The latter has delayed Macau Property's exit strategy for The Fountainside - though the developer still expects to obtain the permit necessary to sell the remaining 20 flats by the end of the year