Member Info for mulledwine

Business Update BSG, a leading provider of clearing, settlement, payment and financial risk management solutions to the telecommunications industry, merchants and on line stores, is pleased to announce that operating revenues for the year ended December 31, 2010 are likely to be slightly ahead of the previously published guidance of between $130.0 million and $132.0 million, and EBITDA is likely to be within the previously published guidance of between $31.0 million and $32.5 million. The Company anticipates releasing full year results in March 2011.

http://www.investegate.co.uk/Article.aspx?id=201102150700082279B

Highlights for the period · Recruitment of patients with Parkinson's disease (PD) into the multi-national Cogane™ Phase II dose ranging study (CONFIDENT-PD) commenced in November 2010 · Encouraging early data from the recently initiated programme investigating the effect of Cogane™ and Myogane™ in glaucoma · Initiation of "gold standard" in-vivo model investigating the effect of Cogane™ in Amyotrophic Lateral Sclerosis (ALS) with the support of the Motor Neurone Disease Association · Re-activation of P61 anti-inflammatory project · Co-operation agreement on Hoodia gordonii signed with the Council for Scientific and Industrial Research, South Africa · Cessation of research and development activity on legacy functional food programmes. Reduction in headcount and cost base associated with these programmes

http://www.investegate.co.uk/Article.aspx?id=201102150700092416B

The following are some of the highlights of the new exploration programs: -- Drilling at the west part of the Macassa property has discovered new mineralized zones in a previously unexplored area of the property. Drill hole 53-1640 intersected a new zone which assayed 12.34 opt over a core length of 1.5 feet and follow up drill hole 53-1725 also intersected a new zone which assayed 6.05 opt over a core length of 8.4 feet. This drill program has thus far been confined to a relatively small area, however, future drilling will further define this new mineralization as well as test an area over a potential strike length of 2,000 feet and a vertical extent of 1,500 feet (see Figures 1, 2 and 3). -- Drill hole 53-1621 on the central exploration program returned 2.94 opt over a core length of 1.0 feet (0.9 feet true width). This intersection is located 340 feet above the 5300 foot level and has extended a previously defined resource block on the SMC an additional 140 feet up dip to the -4920 elevation. This zone is interpreted as being a footwall zone to the Lower D North. Follow up drilling will be required to further define this zone and to test other unexplored areas (see Figures 1 and 2).

http://www.investegate.co.uk/Article.aspx?id=20110215070214M7731

Further announcements will be made as appropriate. Jamie Matheson, the Chairman of the Group, said "This transaction will enable Brewin Dolphin to wholly focus on its core investment management business. We wish the team every success with their new partner." Graeme Summers, Head of the Corporate Advisory & Broking division and Managing Partner -elect of N+1 Brewin, said "The new entity will enable us to enhance our service offering for our clients by combining the strength, depth and international reach of N+1's European financial advisory and asset management expertise, with the existing skills of our team here in the UK. The team is very excited by the significant opportunities that lie ahead."

Disposal of Corporate Advisory & Broking Division Brewin Dolphin Holdings Plc ('Group') has today signed a memorandum of understanding relating to the proposed disposal of its Corporate Advisory & Broking division to a new partnership entity to be called N+1 Brewin. The entity will be capitalised jointly by leading European financial advisory and asset management group, N+1, and senior management of the division. Group will receive a total nominal goodwill consideration of £5m for the disposal, comprising £1m cash up front and a 14% preferred interest in the new entity with a nominal value of £4m. Group will receive a 6% per annum return on its preferred interest which will be paid in priority to ordinary distributions for the period to 2017. It is envisaged that the preferred interest will be held for the medium term, allowing Group to benefit from any future uplift in the new entity's value when it ultimately converts into N+1 equity. The Corporate Advisory & Broking division reported an operating profit of £1.3m from turnover of £10.9m in the year ended 26 September 2010. At the year end, the division had gross assets of £33.4m and nil net assets. Completion of the transaction is subject to contract and receipt of regulatory approval for the new entity. The division will remain part of the Group until completion, which is anticipated to take place by the Group's year end in September 2011. The proposed disposal will free the Group from its regulatory capital requirement for the division and simplify the structure of the Group into that of a pure investment manager.

http://www.investegate.co.uk/Article.aspx?id=201102150700062219B

Analyst and investor presentation http://www.investegate.co.uk/Article.aspx?id=201102141116091785B

Trading systems developer Fidessa is to pay a special dividend again this year, this time topping last year's 40p payment with a 45p per share pay out, after revenue and adjusted profit before tax both grew 10% in 2010.

Roy Burton, Group Chief Executive, said: "A very satisfactory performance in Solid State Lighting and indeed in the whole Signals/Illumination segment gives us confidence in our strategy and in the Group's prospects for the coming years." Harry Tee CBE, Chairman, said: "2010 has seen the strengthening of Dialight's management team at both the corporate and operational levels in order to prepare the Group for its continued growth."

Highlights · Profit before tax of £11.3m (2009: £5.3m) · Full year Revenues grew 28.3% to £99.2m (2009: £77.3m) · Signals/Illumination segment revenues increased 31.7% to £61.1m (2009: £46.4m) · Lighting sales more than doubled to £11.6m (2009: £5.5m) · Two international initiatives completed · Strong operating cash flow leading to net cash of £10.4m (2009: £9.1m) · Final dividend of 5.2 pence (2009 Second Interim: 4.3 pence)

http://www.investegate.co.uk/Article.aspx?id=201102140700071392B

LED lighting developer Dialight doubled profits in 2010 – “a very satisfactory performance” – following progress in ultra efficient lighting and signalling. The group, which said last month that full-year results would beat expectations, posted a profit before tax of £11.3m, up from £5.3m in 2009. Revenue jumped 28% to £99.2m.

Fairfax Discovery Metals** (LON:DME) – Site visit update • Another great site visit with mine development all going full speed ahead, ground cleared and prepared for construction. Contractors are incentivised to complete work ahead of schedule although the company approaches progress cautiously to ensure it doesn't over promise so continues to guide towards H1 of next year for first production. • With the mine development proceeding well management are also increasing the focus on exploration and improving the understanding of the geology to accelerate progress to identify the next project. Numerous targets have been identified and exploration work is to proceed rapidly which could quickly lead to considerable value for share holders.

Recruiter Harvey Nash's trading in the second half has been strong and results this year will be ahead of market expectations. Total revenue for the year to January will be £425m, gross profit of £68m and profit before tax of circa £6m, up 46% on the previous comparable year.

Claudi Santiago, President and CEO, GE Oil & Gas said: "With world-class products and people, Wood Group's Well Support division has excellent strategic fit with our business model of high technology engineering, manufacturing and services. The acquisition is another major step forward for GE Oil & Gas in executing our strategy to equip and serve our global oil and gas customers with the mission-critical equipment and solutions required to address their toughest technical challenges and growth objectives."

Commenting on the Disposal, Allister Langlands, Chief Executive of Wood Group, said: "The significant investment programme in Well Support over the years and the expertise and dedication of all our people is reflected in the price achieved. I believe that GE will be a good owner of the business and, with its scale and reach, be able to accelerate the future international growth of the business. I want to thank all the Well Support people for their outstanding service to Wood Group over many years, and I wish them every success in the future." "Our shareholders will benefit from a significant return of cash and we plan to continue to pursue our successful growth strategy of targeted geographic expansion and broadening of the service offering in our core engineering and operations & maintenance activities in oil & gas and power markets."

Highlights: * The price of $2.8 billion fully recognises the strong performance and future prospects of the Well Support Division. Net proceeds after estimated tax, fees and expenses are $2.6 billion. For the year ended 31 December 2010 the Well Support Division had revenues of $947.1 million, EBITDA of $165.9 million and EBITA of $128.1 million. At 31 December 2010 it had gross assets of $604.7 million. * The Disposal will accelerate the delivery of value to shareholders and reflects Wood Group's success in building the Well Support Division's differentiation and market position as a leading provider of products and services for drilling and production operations. * The Disposal of the Well Support Division, together with the recently announced acquisition of PSN, is in line with Wood Group's enhanced strategic focus on its core engineering and operations & maintenance activities in its Engineering & Production Facilities and Gas Turbine Services divisions. * Conditions in the oil & gas and power markets are anticipated to continue to strengthen and Wood Group will continue to pursue its strategy of targeted geographic expansion and broadening of the service offering through organic and acquisition-led growth. * Having considered the expected net proceeds from the sale of the Well Support Division, together with the forecast operating cash flow of Wood Group, including associated working capital requirements, the Group's capex profile, nearer term acquisition opportunities and the recently announced acquisition of PSN, the Board intends that Wood Group will return cash to shareholders of not less than $1.7 billion (the "Return of Cash"). Following the Disposal and the Return of Cash, the ratio of illustrative average gross debt to 2010 pro forma EBITDA will be 1.0x. Details regarding the mechanism for the Return of Cash will be announced following the completion of the Disposal. * The effect of the Disposal of the Well Support Division, together with the Return of Cash, is expected to be significantly earnings per share enhancing immediately following completion. * The Disposal is conditional, amongst other things, upon obtaining anti-trust clearances and the approval of Wood Group shareholders at a general meeting (the "General Meeting"). The Disposal is targeted for completion by the end of Q2 2011. A circular containing further details of the Disposal, the action recommended to be taken by Wood Group shareholders and setting out the notice of the General Meeting and the resolution required to approve the Disposal will be sent to Wood Group shareholders shortly.