Oil rises as hopes build for global production cut
PUBLISHED TUE, APR 7 20206:37 AM EDTUPDATED 2 HOURS AGO
Brent crude was up 83 cents, or 2.5%, at $33.88 a barrel by 0936 GMT after falling more than 3% on Monday.
U.S. WTI crude was up 95 cents, or 3.6%, at $27.03, having dropped nearly 8% in the previous session
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https://t.co/lTefYPYCRa?amp=1Krunch.ai is currently using Mobile streams data offering very large services to large UK companies that we cannot name at present!Listen @ 19 minutes inLooking forward to the next RNS on contracts.
Company People Mark Epstein
Mark is an experienced CEO, director, entrepreneur, expert in marketing, communications, technology and mobile. Mark is the co-founder of Krunch.ai a next generation insight and intelligence platform, IgniteAMT a digital transformation company and IgniteCAP an incubation and investment business.
The Company expects to sign further distribution partnerships during the next few weeks in this region and also expects to update on its progress in the US market following Emergency Use Authorization granted by the US Food and Drug Administration announced on 23 March 2020.
Finablr PLC Appointment of new Chief Executive Officer
Source: UK Regulatory (RNS & others)
RNS Number : 3694I
01 April 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014.
1(st) April 2020
Finablr PLC (the 'Company')
Appointment of new Chief Executive Officer
T he Company is pleased to announce that Mr Bhairav Trivedi accepted his nomination to join the Board as Chief Executive Officer with immediate effect . Bhairav joined the Company on 10 March 2020.
Michael Tomalin, Co-Chairman of the Company and Chairman of the Nomination Committee, commented, "I am delighted that Bhairav has joined the Board of Directors. He is an experienced business professional with over 25 years senior management experience in strategy, sales, marketing, business development and operations in the financial services sector, with deep domain expertise in emerging technologies and payments with a special focus on the consumer payment and remittance industry."
There are no further disclosures to be made pursuant to Listing Rule 9.6.13.
As announced on 16(th) March 2020, the effective resignation date of Promoth Manghat as outgoing Chief Executive is now effected on the appointment of Bhairav Trivedi.
The Company also announces that Rahul Pai, Chief Financial Officer, has resigned but has agreed to support Bhairav Trivedi until a successor is identified.
"Novacyt is the only one to develop a test to detect Corona virus"
The Novacyt share shot up on Friday, January 31, after the company announced it had developed a test to detect the Corona virus. The test, called genesig® 2019-nCoV, is now for sale and orders are coming in. According to the first reports, tens of thousands of tests have already been sold in around 10 countries. The rate can rise much further than where it is now is our expectation. The share of the France company increased no less than 81% from 0.25 euros to 0.45 euros. After Friday's price rise, the market value is 26.2 million euros. That is only a small amount based on the potential revenue growth that can be expected from the sale of the Corona virus tests.
The genesig® 2019-nCoV is the first test in the world developed to detect the Corona virus. That is why the company currently has a huge gold mine. There are two different tests for sale, one cost converted to euros per package (150 pieces) around 300 euros and the other per package (150 pieces) 700 euros. The latter test can determine within two hours whether someone is wearing the Corona virus. The Corona virus, which originally started in China, has since spread to several countries.
Turnover can be tenfold
The question is how many tests the company will take. That is of course very difficult to determine and will depend on how long and how far the virus continues to spread. Suppose the company is going to sell 100,000 tests worldwide, that gives a turnover of around 40 million euros. The stock market value after the price rise last Friday is 26.2 million euros. There are currently 57 million shares outstanding. The turnover for 2019 was 13 million euros. Suppose that the result is repeated with the sale of the test, then the turnover for 2020 will be around € 53 million. Suppose the virus continues to expand, we estimate that the test will be sold more than a million times. The turnover would then be tenfold and yield 400 million euros.
Price target 7 euros
Again, it is guessing about the actual sale of the Novacyt tests. Nevertheless, the enormous demand for the product provides enough certainty to expect a turnover explosion for 2020. In a negative scenario, the total turnover can amount to 53 million euros. In a positive scenario, sales will amount to 450 million euros. If we look at Novacyt's average valuation over the past 10 years, the rate could rise to between 1 euro and 7 euros. In the first case, that means a price potential based on Friday's closing price of 110%. In the second scenario, the rate can even rise by 1500%. The news about the Corona virus will hold the share in its grip in the coming days and we expect the price to rise further next week.
Finablr's Travelex Looking To Name New Board Members; Closes Units (Alliance News) - Finablr PLC's foreign currency unit Travelex issued an impromptu statement on ...
Alliance News27 March, 2020 | 5:04PM Email Form
(Alliance News) - Finablr PLC's foreign currency unit Travelex issued an impromptu statement on Friday, addressing the "ongoing difficulties" faced by its parent.
The unit also added that it has temporarily closed its foreign exchange bureaux due to Covid-19.
Last week, Finablr's representatives on Travelex's board resigned, including Finablr's Chair Bavaguthu Raghuram Shetty.
Travelex said: "The continuing Travelex board directors are Tony D'Souza, Travelex chief executive officer, and James Birch, Travelex general counsel.
"These changes mean that there is no longer any overlap between the boards of Travelex and Finablr. The Travelex Group has a legal and financing structure capable of operating separately, on a stand-alone basis, and recent board changes reflect this independence from Finablr and its shareholders."
Travelex said it considering candidates to appoint as non-executive directors.
The company added: "Over the last few days, the UK government has introduced strict new measures to reduce the spread of Covid-19, including a requirement for most retail businesses to close. Therefore, we have taken the decision to close temporarily all our UK foreign exchange bureaux, effective from March 24.
"The time scale for bureaux closure is currently anticipated to be eight weeks; however, with the uncertainty around Covid-19, there is a possibility that this could continue over a longer time period. A similar approach is being considered and adopted elsewhere in the world where Travelex operates."
Finablr shares closed untraded at 10.51 pence each in London on Friday.
By Eric Cunha; email@example.com
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