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Bumi plc on Wednesday accused co-founder Nathanial Rothschild of misleading shareholders in his bid to take control of the company's board. The coal mining firm retaliated to a letter Rothschild issued to shareholders outlining his strategy for the company, as the entrepreneur continues to bang heads with members of the board. The company is set to hold a meeting on February 21st to vote on Rothchild's proposal to replace 12 of the 14 Bumi plc directors. It comes amid his ongoing battle with Bumi Plc's co-founders, Indonesia's influential Bakrie family. Bumi plc said Rothschild's latest recommendation goes against the company's need to separate from the Bakrie Group and Bumi Resources, in which it holds a 29% stake. The proposed transaction is currently valued at more than $580m to shareholders through the cancellation of Bakrie's 23.8% stake in Bumi plc, and the disposal of Bumi Resources. "Rather than effecting a separation, Rothschild wants to try to assert 'influence and stewardship' in relation to Bumi Resources. This is naïve in the extreme," the company said in a statement to shareholders. "The last two years have clearly demonstrated that a 29% shareholder [in particular one with Mr. Rothschild on the board] cannot adequately influence, let alone control, Bumi Resources."

Old Mutual, the financial services giant, said Wednesday that it has completed the acquisition of a majority stake in Oceanic Life, the life assurance operations of the former Oceanic Bank in Nigeria acquired by Ecobank Transnational. Chief Executive Officer of Old Mutual's Emerging Markets business, Ralph Mupita, said: "We are delighted to have completed the acquisition of this majority stake and we continue to work with Ecobank to expand our product offerings to the Nigerian market. "The growth dynamics of the industry are exciting and prospects are good for further development of our business operations in West Africa."

Low & Bonar (LWB) Director name: Mr Martin Flower Amount purchased: 50,000 @ 63.36p Value: �31,680

Bank of America Corp. (BAC) Director name: Mr Lionel L. Nowell Amount purchased: 3,930 @ $11.71 Value: $46,020

Bank of America Corp. (BAC) Director name: Mr Arnold W Donald Amount purchased: 3,930 @ $11.71 Value: $46,020

Top Director Buys North Atlantic Smaller Companies Inv Trust (NAS) Director name: Mr Christopher H B Mills Amount purchased: 20,000 @ 1,318.00p Value: 263,600

The purchase takes his stake in the company to 438,142 shares.

Martin Flower, the Chairman of industrial fabric maker Low & Bonar, announced Wednesday that he had bought 50,000 shares in the company, just one day after the group announced plans to increase its dividend payment by 14.3 per cent. Flower, who has held his role at the company since January 2007, acquired the shares at 63.36p each, costing a total of �31,680. In its final results for the year ended November 30th, the maker and supplier of technical textiles said profit before tax, amortisation and non-recurring items from continuing operations increased by 4.7% to �24.5m and rose 10.7% on a constant currency underlying basis. Revenue on a constant currency basis rose 2.6% to �380.5m. Operating profits were 5.2% higher on an underlying basis. Operating margins edged up to 8.0% from 7.9% in 2011 while earnings per share rose by 5.0%. Speaking on Tuesday Flower said: "These are good results during a period of continued macroeconomic challenge, particularly within Europe, providing further evidence of the quality and resilience of our business and its growth prospects. "To enhance these growth prospects, the group has made significant investments in reorganising its activities, building capability and extending capacity in attractive segments and geographies."

William Hill: Nomura shifts target price from 315p to 320p, while retaining a reduce rating. JP Morgan moves target price from 390p to 410p and leaves its overweight rating unchanged.

Victrex: JP Morgan reduces target price from 1500p to 1400p reiterating a neutral rating.

UBM: Citigroup cuts target price from 765p to 734p, while staying with its neutral rating. Deutsche Bank lowers target price from 860p to 840p leaving the buy recommendation unaltered.

TUI Travel: Deutsche Bank downgrades to hold with a target price of 265p.

Telecity Group: Jefferies increases target price from 790p to 1020p and upgrades from neutral to buy.

Talk Talk Telecom Group: Barclays raises target price from 235p to 300p, while maintaining an overweight rating.

SSE: Berenberg moves target price from 1400p to 1430p and retains a hold recommendation.

Shanks: Jefferies lowers target price from 95p to 89p and keeps a hold rating.

Schroders: Morgan Stanley upgrades to overweight.

QinetiQ Group: UBS shifts target price from 190p to 195p, while its neutral rating is maintained.

Playtech: Deutsche Bank ups target price from 470p to 550p and retains a buy recommendation.

National Grid: Berenberg restarts with a target price of 700p and a hold recommendation.