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BATM hit by Nokia Siemens sales decline Date: Monday 07 Mar 2011 LONDON (ShareCast) - Revenues and profits slumped at telecommunications equipment supplier BATM in the year to 31 December after it suffered a decline in sales to telecoms services giant Nokia Siemens Networks. Pre-tax profits slid to $1.03m from $18.45m the previous year on revenues that were down to $120.58m from $135.39m. However, BATM said that sales have recovered and are expected to continue doing so. “The challenges of 2010 demonstrated the resilience of the company and its technology capabilities that enable it to maintain momentum, which we believe will allow us to grow the business as we move into 2011 and beyond,” chief executive Zvi Marom said.

Colin Cooke, Chairman of Altitude, commented: "I am delighted that we have agreed terms to purchase the business and assets of Technologo. This represents an important step in our strategy to reposition Trade Only as a stand-alone business within Altitude, and to develop its business in the provision of Cloud-based business solutions and information services. I welcome the highly experienced employees from Technologo who will help us to deliver our solutions to existing and prospective customers within the substantial North American market". Martin Varley, Chief Executive of Altitude and President of Trade Only, commented: "The promotional merchandise industry is highly fragmented and underserved from an integrated business solutions and information services perspective. Trade Only's Cloud-based services facilitate both operational efficiency gains to our customers as well as the ability to drive new customer acquisition and revenue growth. I believe the combination of Technologo and Trade Only will create a compelling offering for the North American market."

http://www.investegate.co.uk/Article.aspx?id=201103070700164113C

Date: Monday 07 Mar 2011 LONDON (ShareCast) - Promotional merchandise and marketing firm Altitude is buying the business and assets of Technologo, which provides virtual sample services to the promotional product industry. AIM-quoted Altitude is buying the Toronto-based business from Landmark Corporate Marketing Services for $1.9m in cash. The customer base is in North America and Europe. Technologo made underlying operating profit of $150,000 on revenues of $800,000 in 2010. Altitude already offers Cloud Computing-based services through Trade Only and combining the two operations will provide a better service to the fragmented promotional merchandise market, particularly in North America. The service provided helps customers to be more efficient and reduce costs. Trade Only has already been using Technologo’s technology for several years. The deal should be completed in April.

BG Group Chief Executive Frank Chapman said: "Tokyo Gas is now an important foundation customer for our ground-breaking Queensland Curtis LNG Project. With these agreements we will bring a new source of natural gas to Japan - the largest LNG market - and advance the long and rewarding relationship between our companies."

http://www.investegate.co.uk/Article.aspx?id=201103070700174247C

BG and Tokyo sign LNG contract Date: Monday 07 Mar 2011 LONDON (ShareCast) - UK oil and gas titan BG Group has signed a 20-year deal to provide 1.2m tonnes of liquefied natural gas (LNG) a year to Tokyo Gas, Japan’s largest city gas supplier. Tokyo Gas will be supplied from the Queensland Curtis LNG facility on Curtis Island, near Gladstone in Queensland, Australia, and from BG Group's global LNG portfolio. The Queensland facility is being developed to liquefy and export coal seam gas from BG’s extensive acreage in the Surat Basin in Queensland. The facility is planned to come on stream by 2014. "Tokyo Gas is now an important foundation customer for our ground-breaking Queensland Curtis LNG Project," said BG Group chief executive, Frank Chapman. “With these agreements we will bring a new source of natural gas to Japan - the largest LNG market,” Chapman added. In addition to the LNG sale, Tokyo Gas has also agreed to acquire a 1.25% equity interest in the reserves and resources of certain BG tenements in the Walloons Fairway of the Surat Basin. Tokyo Gas will reimburse BG Group for 1.25% of costs incurred in respect of the tenements. Tokyo Gas will also become a 2.5% equity investor in QCLNG Train 2, the second of two liquefaction trains which will form the first phase of the Queensland Curtis LNG development. Tokyo Gas will reimburse BG Group for 2.5% of costs incurred in respect of Train 2.

Pre-Close Trading Statement We are pleased to confirm that the sharp increase in profitability experienced in the first quarter has been maintained to the half year end in both our Conveyor Belting and Advanced Engineered Products divisions. First half trading has been characterised by both volume and margin improvements across our principal business units with increasing benefits from our capital investment programmes and improved trading conditions as we ended our second quarter. This has culminated in a significant increase in operating profit compared to the comparable period last year which was still suffering from the impacts of the economic downturn. The positive operating cash flow performance has resulted in net borrowings finishing in line with our expectations at an estimated £119m (2010 £169.2m). The integration of our Australian Service expansion (BBV) has proceeded successfully since the acquisition was announced in November last year, and the early indications of a rewarding partnership are encouraging We expect to report our interim results on 27 April 2011.

http://www.investegate.co.uk/Article.aspx?id=201103070700154098C

Profit growth continues at Fenner Date: Monday 07 Mar 2011 LONDON (ShareCast) - Conveyor belt maker Fenner said that the sharp increase in profitability experienced in the first quarter has been maintained to the half year end in both its Conveyor Belting and Advanced Engineered Products divisions. "First half trading has been characterised by both volume and margin improvements across our principal business units with increasing benefits from our capital investment programmes and improved trading conditions as we ended our second quarter," said Fenner in a company statement. The group, whose belts are mostly used in the mining industry, said it had seen a significant increase in operating profit compared to the same period a year earlier which was still suffering from the impacts of the economic downturn. Net borrowings are in line with company expectations at an estimated £119m, down from £169.2m previously. Fenner added that the integration of its Australian Service expansion has proceeded successfully since the acquisition was announced in November last year. "The early indications of a rewarding partnership are encouraging," it said.

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Commenting, Steve Ingham, Chief Executive of Michael Page, said: "The Group was well positioned to benefit from the economic recovery during 2010 and our profitability has improved significantly. We have maintained a strong balance sheet and, while increasing the returns to shareholders, we have also continued to take a long-term approach by making significant investments in the future of the business, opening in Chile, India, Malaysia and Qatar. "Since the start of 2011 we have seen strong growth in our EMEA region, Australia and North America and steady growth in our UK business where market conditions remain tough but stable. We continue to achieve our highest rates of growth in our Asian and Latin American regions where we have market leading positions. "We are well positioned to continue our growth in 2011 and to pursue opportunities to invest in the development of our business over the long-term".

2010 operating and financial highlights · Strong results benefiting from geographic and discipline diversification · Improved productivity and utilisation of spare capacity driving profit growth · All regions growing sequentially in 2010 · 72% of gross profits generated from outside the UK · 53% of gross profit generated from non Finance and Accounting disciplines · Gross profit from permanent placements growing at 38% (35%*) · Share repurchases of £76.8m during 2010 · Strong balance sheet with net cash of £80.5m (2009: £137.2m) · Total dividend increased to 9.0p

http://www.investegate.co.uk/Article.aspx?id=201103070700144041C

LONDON (ShareCast) - Overseas expansion is paying off in a big way for recruitment firm Michael Page International. "Since the start of 2011 we have seen strong growth in our EMEA [Euopean, Middle East and Africa] region, Australia and North America and steady growth in our UK business where market conditions remain tough but stable. We continue to achieve our highest rates of growth in our Asian and Latin American regions where we have market leading positions,” said chief executive Steve Ingham. In 2010 the group saw revenue surge by 161%, or 148% using constant exchange rates (CER), to £832.3m from £716.7m in 2009, while underlying profit before tax shot up by 243% to £72.2m from £21.1m the year before. Revenue from permanent placements in 2010 grew by 36.8% (or 34.3% using CER) to £356.0m from £260.2m in 2009, representing 42.8% of group revenue, up from 36.3% in 2009. Revenue from temporary placements for the year grew by 4.3% to £476.3m from £456.6m. The pick-up in activity in the temps market happened later than the permanent placements market, with year on year growth not significant until the second half of the year after things stabilised in the second quarter. The gross profit margin improved to 53.1% from 49.1% in 2009, largely as a result of the shift in the mix of business due to the stronger rate of growth of permanent compared to temporary placements. A final dividend of 6.12p, up 19.5% from the 5.12p paid last year, has been recommended, taking the full year dividend up to 9p from 8p in 2009. At 31 December 2010, the group had net cash of £80.5m (2009: £137.2m). The net cash position comprised gross cash deposits of £80.5m with 19 separate banks.

Agriterra Chairman Phil Edmonds said, "This is a significant step towards accelerating exploration on the South Omo Block, which will be guided by a leading E&P company with extensive practical experience of operating in Africa. Tullow has an exceptional technical and operational track record, with an excellent success rate in regard to exploration. This expertise has been demonstrated by Tullow's successful development of its Ghanaian and Ugandan blocks, and I believe that this experience, which includes expertise in the East African Rift Basin, presents Tullow as an extremely attractive operator to drive exploration on the concession. "Exploration programmes on the South Omo block will be funded by Tullow and Africa Oil, as per our original farm-out agreement with Africa Oil, which included sufficient credits from Africa Oil to Agriterra to take the Concession through to drilling. The exploration programme, which has been approved by the Ministry of Mines and Energy in Ethiopia, will commence shortly. "Should a discovery be made on the block, then Agriterra's 20% interest in South Omo could prove to be very lucrative for the Company's shareholders and we look forward to future announcements regarding the South Omo concession."

John Fallon, Chief Executive of Pearson's International Education Business, said: "In EDI we have found a dynamic partner who shares our commitment to education and training. In the UK and around the world, we will be even better placed to work with employers and training partners to develop high quality apprenticeships and related qualifications. In this work, we will help companies to be more competitive and make their staff more employable." Nigel Snook, Chief Executive of EDI, said: "The Offer Price to acquire the EDI business reflects the value created for shareholders over the past 10 years through the hard work and commitment of the staff and management team. We now look forward to working with our Pearson colleagues to take the business on to its next stage, creating a world-class organisation supporting vocational education and training programmes in the UK and internationally."

cont - In accordance with Rule 2.10 of the Code, EDI confirms that there are 56,359,647 EDI Shares in issue, the ISIN number for which is GB0004486006, which includes 2,990,047 EDI Shares currently held in the EDI Employee Benefit Trust.

Summary - The boards of directors of Pearson plc ("Pearson") and Education Development International plc ("EDI") are pleased to announce that they have reached agreement on the terms of a recommended cash offer to be made by Pearson for the entire issued and to be issued share capital of EDI - The Offer will be made at a price of 200pence in cash for each EDI Share and values EDI's entire issued ordinary share capital at approximately £112.7 million. - The Offer Price represents a premium of approximately: - 61 per cent. to the Closing Price of 124.0 pence per EDI Share on 4March 2011, the last business day prior to the commencement of the offer period; and - 73 per cent. to the average Closing Price of 115.6 pence per EDI Share over the three months prior to 4 March 2011. - EDI is a leading provider of education and training qualifications and assessment services, with a strong reputation for the use of information technology to administer learning programmes and deliver on-screen assessments. - Pearson believes that the addition of EDI will complement Pearson's existing work-based learning business and will create an enlarged qualifications group offering a comprehensive range of vocational and academic services to the UK and international markets. Pearson believes that its financial resources, international scale and strengths in assessment, publishing and technology will also enhance the offering to EDI's customers. - The directors of EDI, who have been so advised by Brewin Dolphin, consider the terms of the Offer to be fair and reasonable. In providing their advice, Brewin Dolphin have taken into account the commercial assessments of the directors of EDI. Accordingly, the directors of EDI intend unanimously to recommend that EDI Shareholders accept the Offer, as they have themselves irrevocably undertaken to do (or procure to be done) in respect of their entire beneficial holdings of EDI Shares, amounting in aggregate to 5,523,373 EDI Shares, representing approximately 9.80 per cent. of EDI's existing issued ordinary share capital. - Pearson has also received irrevocable undertakings to accept the Offer from each of J O Hambro Capital Management Limited, Wynford Dore and Hargreave Hale Limited, amounting in aggregate to 11,618,087 EDI Shares, representing approximately 20.61 per cent. of EDI's existing issued ordinary share capital. - In aggregate, Pearson has received irrevocable undertakings (including those undertakings from the directors of EDI) to accept the Offer in respect of 17,141,460 EDI Shares, representing approximately 30.41 per cent. of EDI's existing issued ordinary share capital. All of these undertakings remain binding, even in the event of a higher competing offer for EDI, unless the Offer lapses or is withdrawn. - In accordance with Rule 2.10 of the Code, EDI confirms that there are 56,359,647 EDI Shares in issue, the ISIN number for which is GB

http://www.investegate.co.uk/Article.aspx?id=201103070700124239C