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Lonrho has agreed to dispose of its aviation business, Lonrho Aviation, to Rubicon Diversified Investments, an AIM-listed investment company. The sale will be made for a total of $85.7m, consisting of 1.15bn Rubicon ordinary shares calculated at a notional value of 4.8p per share, adding to Lonrho's current holding of 9.5m ordinary shares in Rubicon, equal to 73.7% of Rubicon's enlarged issued share capital. As part of the transaction, Sir Stelios Haji-Ioannou's easyGroup Holdings will own 5.0% of the ordinary share capital of Rubicon.

Image Scan, an AIM-listed specialist supplier of real-time 3D and 2D x-ray screening systems to the homeland security and industrial inspection markets, has more than doubled its half year revenue to £1.76m (2011: £0.77m). The gross profit margin fell four percentage points to 37%, while pre tax profit came in at £0.005m, compared to a loss of £0.27m the previous half. Earnings per share were 0.01p, against a loss of 0.43p the same period in 2011. The company pointed out that breaking even for the first time is a significant milestone and said it will now focus on creating a platform for medium-term growth and sustainable value.

Enegi Oil, an independent oil and gas company, has revealed that the latest results from the PaP#1-ST#3 well at Garden Hill South, Newfoundland, indicate that it is in contact with at least 61.5m barrels of stock tank oil initially in place (stoiip) and 117 British cubic feet (bcf) gas initially in place (giip). Absolute open hole flow potential is expected to rise from 310 barrels of oil per day (boepd) and additional equipment has been purchased to enable the well to flow at higher rates. The company is also currently reviewing the market for the application of buoy technology and making enquiries as to the appetite of other North Sea operators to adopt the technology on currently licensed assets. In case other assets are pursued, the firm has upped its limit of the equity line facility from £7.5m to £25m.

Horizonte, the exploration and development company focused on Brazil, has raised £5.2m before expenses after placing just under 71.99m shares at 7.25p each. Following the placing, Horizonte will have net cash of around £9.0m, which is sufficient to advance the 100% Araguaia Nickel project through to the end of the Pre-Feasibility Stage over the next 12 to 14 months. Horizonte major shareholder, Teck Resources, has subscribed for 27.3m of the shares, taking its total holding to 41.8% of the share capital, which would ordinarily trigger a mandatory offer by Teck, only this requirement has been waived by Horizonte.

Valiant Petroleum, an AIM-listed company which operates in the North Sea, has begun drilling on the Tryfan prospect, which has gross prospective resources estimated internally by Valiant of 24m barrels of oil equivalent (mmboe), of which eight million are net to Valiant. Drilling on the well, which is operated by Apache North Sea, is expected to take around 25 days to complete.

Well nothing special really mate.......but remember reading once that more was digested by people if it was in short bulletins instead of a very large paragraph........dont know if its true or not gl mate......

Damn i try and average 6 per one post........ill try harder lol.........

"We have continued to make significant progress behind the scenes in developing our business in the Aerospace & Defence sector. Overall, we retain a positive outlook despite the wider uncertainties affecting the global economy."

On a brighter note, the group said it saw improving order activity through the second quarter, which continued into second half. "After a very challenging first quarter, trading conditions have shown a steady and sustained improvement. We have used the period to make changes to our management team and put in place the structure to facilitate future growth as we execute our strategy."

Chief executive Gareth Jones commented, "Despite the challenges experienced during the period we have remained focussed on positioning G&H to deliver sustainable long-term growth in our target markets. With a strong pipeline of opportunities and more favourable trading conditions we retain a cautiously optimistic outlook." An interim dividend of 2p per share declared. Net debt at end of period £5.6m compared to £5.5m previously.

Gooch, which slashed its full-year profit forecast by nearly a quarter in February following slowing orders from China, said it had experienced challenging trading conditions in the first quarter. It explained aerospace and defense were affected by delays but strong pipeline of near term opportunities. The industrial laser market was recovering and customer inventories were normalising.

Gooch & Housego, the aim listed industrial laser specialist, posted a hefty slide in first half pre-tax profit as it battles against challenging trading conditions. The group, which specialises in laser technology used to make smartphones and other electronic devices, said pre-tax profit for the six months to 31 March 2012 fell to £2.5m, down from £3.9m the same time last year. Revenue for the period edged higher to £27.8m from £27.2m. Earnings per share fell to 8.7p from 13p.

Those Albany shareholders making the switch to TIGT will be offered the chance to do so at a 1% premium to TIGT's NAV. There will be no capital gains tax issues entailed in any transfer. The news does appear to have done the trick, at 11:00 Albany shares were up 13.4%.

Furthermore, TIGT has a discount-to-NAV control mechanism which it has been exercising since January 2010, which has ensured the shares trade at, or close to, NAV. Albany's board estimates that around 46% of Albany's portfolio of company investments mirrors that of TIGT.

Troy shares trade at a premium to its net asset value, so Albany investors should, in theory, benefit from rolling over their shares into a more highly regarded trust. Those shareholders rolling over into TIGT will experience a broadly similar dividend yield and a lower total expense ratio than that currently offered by Albany.

Albany Investment Trust shareholders fed up with the trust's miserable share price performance over the last five years are being offered the chance to jump ship to another trust. The Liverpool based firm which, by its own admission, has traded at a persistent discount to net asset value (NAV) is taking drastic action after reviewing the options open to it. Shareholders will have two options: to get cash for all or part of their holdings, or to roll over their investments into shares of another firm, Troy Income and Growth Trust (TIGT).

Chris Malley has held senior management positions in finance, corporate development and then as divisional Chief Executive of its card clothing division, which was sold to Bekaert in 2005.

"In Precision Products, our well-timed exit from the automotive antenna business enables us to deploy further resources to accelerate the expansion of our specialist LED Technologies division. We are working on a number of new contracts which will deliver further growth. "These developments taken together give the board confidence that the new financial year will be transformational for Carclo."

Carclo's Chairman Christopher Ross said: "Our core manufacturing businesses continue to perform well. Recent contract awards and the expansion of the Indian operation will generate growth and support increased profitability in our Technical Plastics division.

Although basic earnings per share were 7.5p, down from 9.6p the year before, underlying earnings per share rose to 9.7p from 9.6p the previous year. The board recommended a final dividend of 1.65p per share (2011: 1.5p), taking the full year dividend to 2.4p, up 9.1% compared to the year before and 0.2p ahead of analyst expectations.