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Deustche Bank downgrades Whitbread from buy to hold, target price increased from 2200p to 2350p.

Westhouse Securities initiates buy on Hargreaves Lansdown, target price 893p.

Evaluation With these results Solid State has continued to show the market that it can successfully deliver, and even beat, expectations. At the time of our original tip in November last year the market was looking for £1.6 million of profits for the 2013 financial year, so in effect the company is one year ahead of where we expected it to be at this stage. At the current price the shares trade on a multiple of around 10 times forecast earnings for this year, however we see the potential for earnings upgrades given the positive trading momentum and desire to add more complementary businesses. A yield of 3.6% is also on offer for 2013, a level which remains attractive. For such a quality business, which has grown revenues by 141% and pre-tax profits by 280% over the past five years, we believe that the current rating does not look expensive. Buy.

KeywordCompanyEPIC/TIDMSEDOL/ISINNews Price Announcements Fundamentals News Article RSS Anglo Pacific Group (APF) Add to Alerts list Print Mail a friend Annual reports Monday 13 August, 2012 Anglo Pacific Group Completes Royalty Option and Financing Agreemen... FOR: ANGLO PACIFIC GROUP PLC LSE SYMBOL: APF TSX SYMBOL: APY August 13, 2012 Completes Royalty Option and Financing Agreement with Laramide Resources Ltd LONDON, UNITED KINGDOM--(Marketwire - Aug. 13, 2012) - Anglo Pacific Group PLC ("Anglo Pacific", the "Company") (LSE:APF)(TSX:APY) announces it has entered into a transaction with Laramide Resources Ltd ("Laramide") in connection with Laramide's variable rate gross revenue royalty (the "Royalty") on the development stage ISL uranium properties owned by Uranium Resources Inc. ("URI") in the Grants Mineral District of New Mexico, United States (the "Churchrock Properties"). In return for a facility of CDN$5 million, which is repayable in December 2015, Laramide has granted Anglo Pacific an option to acquire a 5% gross revenue royalty (the "GRR") for an exercise price of US$15 million. As part of the transaction, Laramide has also issued 650,000 warrants, each warrant entitling Anglo Pacific to acquire one Laramide common share at an exercise price of $1.35 per share on or before December 31, 2015. The CDN$5 million facility bears interest at a rate of 7% per annum payable quarterly in arrears. URI's most current guidance for the Churchrock Properties anticipates the imminent completion of a feasibility study, followed by construction commencing by the end of 2012, and targets initial production for late 2013 at a rate of one million pounds per annum starting in Section 8. The GRR also covers a portion of the adjacent Section 17 and the Mancos area, which comprises all of Section 13 and portions of Sections 7 and 12, from where additional resources and production can be expected.

http://www.investegate.co.uk/Article.aspx?id=20120813070041M6425

James Agar, Investment Director at Braemar, added: "Ground rents are rare within real estate in their ability to offer high yields relative to the level of risk. The current economic climate makes the defensive, secure and predictable characteristics of long dated ground rents very attractive to investors, particularly when looked at in the context of negative gross redemption yields on the sovereign debt of what are considered to be lower risk nations." "We are confident that our strong track record in acquisition and asset management in the sector will produce both attractive yields and long term capital growth."

Malcolm Naish, Non-executive Chairman of GRIF, commented: "GRIF is a publicly traded investment company that offers onshore exposure to the ground rents sector, which we believe is one of the most predictable sources of real estate income which is both secure and partly inflation hedged." "The Company has a well regarded property advisory team in the shape of Braemar Estates and a strong pipeline of opportunities, and we are extremely excited about its potential for income generation and capital growth."

Company Highlights · GRIF is a newly formed, closed-ended company, incorporated to acquire a portfolio of freeholds and head leases, offering: - the potential for income generation from ground rents that is both secure and hedged against inflation - the potential for capital growth from active asset management · Long dated UK ground rents have historically had little correlation to traditional property asset classes and have seen their value remain consistent regardless of the underlying state of the economy · Experienced Board appointed combining real estate and fund management expertise: - Malcolm Naish, former director of Real Estate at Scottish Widows Investment Partnership and has over 40 years' experience of working in the real estate industry; - Simon Wombwell, Chief Executive Officer of Brooks Macdonald Funds and a director of Brooks Macdonald Group plc; - Paul Craig, a Director of Multi-Manager at Henderson Global Investors. · GRIF's portfolio will be managed by Braemar Estates which has extensive experience, expertise and a long-term track record in ground rents and asset management; · It is the intention of the Company to distribute at least 90 per cent. of its income profits by way of quarterly dividends.

http://www.investegate.co.uk/Article.aspx?id=201208130800018550J

Strategy and Markets ProPhotonix consists of two business units: an LED systems manufacturing business based in Ireland (Cork), and a laser modules production and laser diode distribution division located in the United Kingdom (Hatfield Broad Oak). Corporate, marketing and the North American sales activities are based in Salem, New Hampshire, United States of America. The Company is well positioned to make significant progress on in its strategy to combine its expertise in two key areas of optics: LEDs and lasers. The Company intends to capitalise on increasing opportunities in this area by designing and manufacturing high value, high margin components for global manufacturers of equipment. As announced last week the Company has completed the strategic build out of its global sales force, which now totals 14 personnel. These include experienced regional sales managers based in the US, UK, Germany and Switzerland where they can better service the majority of existing and potential customers. In addition, the Company has expanded its network of distributors mostly in Asia and smaller European markets. The Company has made significant investments in R&D, including expanding its R&D team in Cork, which now includes a full complement of optical, mechanical and electrical engineers and represents over 20% of the Company's total workforce of 96 employees. They are focused on continuing to develop proprietary products to meet clearly defined demand from our customers and the markets which we serve. In this regard, progress during the first half included the launch of an expanded LED illuminator product line and the development of a range of new laser module and LED OEM opportunities. Currently, the majority of the Company's R&D and product development activities are specifically tied to future customer requirements.

Mark W. Blodgett, Chairman & CEO, Commented: "Despite a number of accomplishments during the first half of the year, the period was challenging due to the previously reported dramatic decline in the Company's sales of LED systems to solar equipment manufacturers which started in the autumn of 2011. The loss of the solar business, which now represents less than 2% of sales versus 15%, derives from excess capacity in the solar industry. With the build-out of our global sales force over the last seven months, we are moving expeditiously to replace solar sales and we are pleased with the positive book to bill for the first half of the year. Since the expansion of the sales organisation, North American laser and diode bookings are up 37% versus the first half of 2011. "In the meantime, management continues aggressively to manage costs and excluding planned sales expenditures which increased 25% year over year, other operating expenses declined in the first half versus the prior year 2011. Furthermore, customer activity is increasing and our engineering team has never been busier working on new OEM driven opportunities. With the expansion of the sales force, we expect a significant sequential increase in revenues in the second half of the year versus the first half of 2012 and a corresponding improvement in overall financial performance of the Company," added Blodgett.

Operational Highlights · Global sales force staffing in USA, UK, Germany and Switzerland completed July 2012 · Sales distributors appointed in Germany, Taiwan and the USA · Introduction of expanded line of high performance LED illuminators for OEMs and machine vision market in June 2012

INTERIM RESULTS FOR THE HALF YEAR ENDED 30 JUNE 2012 ProPhotonix Limited (London Stock Exchange - AIM: PPIX and PPIR, OTC: STKR.PK), a designer and manufacturer of LED light engines and laser diode modules with operations in Ireland and the U.K., today announces its unaudited interim results for the six months ended 30 June 2012. Financial Highlights · Revenue decreased 24% to $6.8 million (FY 2011: $8.9 million); majority of reduction due to decline in solar sales · LED revenue decreased 37% to $2.9 million (FY 2011: $4.7 million) · Gross profit decreased 39.2% to $2.1 million (FY 2011: $3.5 million) · Gross profit margin lower at 31.1% (FY 2011: 38.9%) · Operating loss increased to $1.7 million (FY 2011: loss of $0.2 million) · EBITDA loss of $1.4 million vs. EBITDA of $0.3 million in 2011 · Order bookings of $7.7 million (FY 2011: $9.6 million) · Percentage revenue by market sectors: industrial 76%, medical 17%, and homeland security & defense 7% · Percentage revenue by geography: 57% Europe, 28% North America and 15% Rest of World · Cash balances of $2.9 million (30 June 2011: $0.6 million)

http://www.investegate.co.uk/Article.aspx?id=201208130700068300J

Commenting on the acquisition, Charles Skinner, Chief Executive of Restore, said: "The purchase of M&L strengthens our presence and capability in secure shredding and brings the benefit of some strong customer relationships. There is considerable demand for a shredding service in the North East from our existing customers and we expect to accelerate the growth of our shredding activities as a result".

Acquisition of M&L Document Destruction Limited Restore plc ("Restore" or "the Company") is pleased to announce the acquisition of M&L Document Destruction Limited ("M&L"), which was completed on 10 August 2012. M&L is a provider of secure shredding and recycling services operating from premises in Stockton-on-Tees. In the year to 31 March 2011, M&L recorded revenues of £588,000 and an operating profit of £236,000 and at 31 May 2011 had tangible assets of £148,000. M&L was acquired for a cash consideration of £300,000. This acquisition represents the first step towards expanding the secure shredding activities of Restore Shred in the North of England. M&L currently serves customers across the North East and has significant spare capacity for expansion. As part of the transaction, Mark Bradley, a founder of M&L, has joined Restore Shred as Managing Director. An incentive scheme has been put in place for the former management of M&L related to the future performance of the business. Prior to the transaction, Restore plc acquired the remaining 50% of the shares in Restore Shred it did not previously own on the same valuation basis as the initial investment.

http://www.investegate.co.uk/Article.aspx?id=201208130700058236J

Erlan Sagadiev, CEO of Frontier commented: "I wish to congratulate the production team at Benkala on their hard work and success. The Company has followed correct procedures at each stage of the commissioning process to ensure a safe start to this complex process, which has resulted in the successful production launch. Now our team will turn its attention to ramping up the production level to the design capacity."

First Copper production at Benkala Frontier Mining Ltd (AIM: FML), the AIM quoted copper exploration and development company focused on Kazakhstan, announces commencement of the first production of cathode copper at its 7,000 tonne per annum Solvent Extraction - Electro Winning ("SX-EW") plant at its flagship Benkala Copper Project. Processing of the pregnant leach solution from the solution ponds has been successful and the copper content has reached a level suitable for electro-winning. The plating of the copper in solution onto the cathodes commenced at 01:00 on Tuesday 7 August, with the first copper sheets produced on Saturday 11 August 2012. Operations at the plant have continued since then. The Company will provide further production details once it has analysed the first weeks of production at the plant.

http://www.investegate.co.uk/Article.aspx?id=201208130700078335J