Member Info for mulledwine

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A toe hold in the States - excellent news - certainly provides potential and opportunity

Peter Lawrence, chairman of ECO said: “We are delighted to receive our first marketing authorisation in the United States. This key milestone follows some 12 years of investment in product development and regulatory activity in North America. The USA represents more than one third of the world market for our products and this breakthrough will benefit our future profitable growth. It is a significant milestone on the road to making ECO one of the most important global animal health companies”.

NOTIFICATION OF DATE OF RESULTS ANNOUNCEMENT ECO is pleased to report that the Center for Veterinary Medicine (CVM) of the Federal Drug Administration (FDA) has granted ECO a marketing authorisation in the United States for Aivlosin® 625 mg/g water soluble granules for swine. The FDA’s approval is ECO’s first in the United States and marks a very important step in the Company’s continuing development of Aivlosin® as a global veterinary product. It follows the recent Canadian approval of this formulation and further extends the marketing reach of Aivlosin®, ECO’s patented macrolide antibiotic, which is used for the treatment of respiratory and enteric (gut) diseases in pigs and poultry. ECO established a joint venture sales and marketing company, Pharmgate Animal Health LLC, in the USA in 2010 to prepare for the launch of Aivlosin®. The authorised formulation of Aivlosin® will be marketed in the US for the treatment of ileitis (porcine proliferative enteropathy (PPE)), an enteric disease of swine. Aivlosin® water soluble granules dissolve readily in water providing a simple solution for the accurate and simultaneous treatment of large numbers of animals. Importantly, with global concerns about the use of antibiotics in production animals, this new treatment with its therapeutic dose rate, short treatment duration and zero day drug withholding period meets the current guidelines for the judicious use of antimicrobials.

http://www.investegate.co.uk/Article.aspx?id=20120710070000Z3904

July 10, 2012 African Copper Plc: ZCI Strategic Review LONDON, UNITED KINGDOM--(Marketwire - July 10, 2012) - Shareholders should note the announcements by African Copper PLC ("ACU" or the "Company") (AIM:ACU)(BOTSWANA:AFRICAN COPPER) on 28 February 2012, 16 April 2012 and 30 May 2012, in which ACU stated that it had been notified by its 84.19% controlling shareholder, ZCI Limited ("ZCI"), that ZCI had initiated a process intended to realise value from its investment in ACU, which process may result in the partial or full sale of ZCI's interest in ACU. Shareholders are advised that the process is ongoing and may have a material effect on the price of the Company's securities. Accordingly, shareholders are advised to continue exercising caution when dealing in the Company's securities. A further announcement will be made in due course.

Outlook While we expect the short term trading outlook to continue to be challenging, we are making strong progress against our goal of becoming an international, multi-channel retailer. Marks and Spencer Group plc will report its half year results for the 26 weeks ending 29 September 2012, on 6 November 2012.

Marc Bolland, Chief Executive said: "Our Food business has again performed strongly. General Merchandise underperformed in a difficult trading season. We are confident we are taking the necessary steps to address this. "We are pleased with the performance in Multi-channel and our key International businesses, which are continuing to make good progress."

UK defence contractor Manroy (MAN) was another AIM company to unveil a contract win, announcing it has secured a new 4.1 million pound weapons deal with an existing export customer. Delivery of the heavy machine gun and ancillary equipment order will commence approximately three months after the award of the requisite export licence from the UK government. As a result of this deal, Manroy has now won over 6.6 million pounds of new contracts since the start of 2012 in addition to 6.6 million pounds worth of deals from the US Department of Defence to Manroy USA in April. Manroy shares rose by 3p to 73.5p.

Shares in Lighthouse Group (LGT) slumped by 1.75p to 3.125p as the independent financial advisory firm requested shareholder approval for the cancellation of admission of its shares from AIM. "For some time the conventional advantages of being listed on AIM have not applied to the company" commented chairman David Hickey. A shareholder vote will be completed at a general meeting at the end of July, with 75% or more of the votes needed in favour for the cancellation to take place.

Peel Hunt initiates buy on Salamander Energy, target price 250p.

Warren Tucker, Chief Financial Officer said: "These transactions substantially complete the planned divestments of Cobham's non-core businesses, leaving us with a portfolio of focused businesses, each of which has differentiated technology and a leading position in attractive markets."

Divestment of Emergency Locator Beacon Businesses for US$73m Cobham plc ('Cobham' or 'the Group') is pleased to announce that it has completed the planned divestment of its non-core emergency locator beacon business in the US to J.F. Lehman & Company for a cash consideration of US$73m on a debt and cash free basis. An additional consideration of up to US$5m may become payable, contingent on future events. In addition, it has divested its small European operation to management for a nominal sum. There is a modest overall profit on these divestments. The businesses design and manufacture beacons and emergency location transmitters, with activities in Fort Lauderdale, Florida, USA and Austria respectively. There is exposure to outdoor recreational markets through retail outlets, which are non-core to Cobham, as well as customers in mature military markets. It is expected that the transactions will be approximately 2% dilutive year-on-year to both 2012 and 2013 earnings. This is the most significant remaining step, following the completion of the sale of the Analytic Solutions business in November 2011, towards achieving the divestment of the Group's non-core activities. Cobham's remaining non-core businesses comprise small, sub-scale businesses and product lines, which together generated annual revenue of approximately £20m in 2011. These will be divested individually over time as transactions are agreed.

http://www.investegate.co.uk/Article.aspx?id=201207090700071703H

Ed Story, President and Chief Executive of SOCO, commented: "First oil from the second platform at the TGT Field in Vietnam marks a key milestone for the Company. We set an ambitious delivery target and it is a credit to all involved that this has been achieved ahead of schedule. We now look forward to working with our Partners to maximise the recovery and performance of the field. The success and knowledge we have gained thus far from the TGT Field will enable us to drive further shareholder value in Vietnam and the wider region."

Commencement of Production from Second Te Giac Trang Platform SOCO, an international oil and gas exploration and production company, is pleased to announce that the first flow of crude oil and gas from the H4 Wellhead Platform ('WHP-H4') of the Te Giac Trang Field ('TGT') occurred on 6th July 2012. The start of production has been achieved over one month earlier than scheduled and nearly a year ahead of the original approved development plan. WHP-H4 is located in the south of the TGT Field in Block 16-1 in the Cuu Long Basin, off the southern coast of Vietnam, approximately 100 kilometres from Vung Tau, 20 kilometres northwest of the Bach Ho Field, and 35 kilometres west of the Rang Dong Field. The block is operated on behalf of SOCO (30.5%) and its Partners, PetroVietnam Exploration & Production Corporation (41%) and PTT Exploration and Production Public Company Limited (28.5%), by the Hoang Long Joint Operating Company which was established in 1999. Production from the field, currently approximately 42,000 barrels of oil per day ('BOPD'), will now be increased to the 55,000 BOPD processing capacity of the 'Armada TGT 1' FPSO. Simultaneously, the PetroVietnam Drilling Services Corporation rig, the PVD-II, has arrived on location at the H1 Wellhead Platform and commenced drilling the conductor sections of a four well, infield development drilling programme.

http://www.investegate.co.uk/Article.aspx?id=201207090700051638H

Singer Capital maintained its "buy" recommendation for ASOS (ASC) with a 1,950p target price. The online fashion retailer noted a slowing in fourth quarter growth, which the broker attributed to tighter stock control. Singer now expects to see a new phase of reinvestment, which it believes will primarily benefit the mature UK market. The broker forecasts revenues of 10% in the UK and 47% internationally, for the current financial year, with margins increasing by 150 basis points. The shares slipped by 16p to 1,644p.

Panmure Gordon reiterated its "sell" recommendation for Robert Walters (RWA), with a reduced target price of 127p, from 131p. The job agency reported that weak demand from the banking sector lead to a 5% decline in both Asian and European profits and the broker believes this trend is likely to persist into 2013. As a result, Panmure cut its earnings per share forecasts by 19.3% to 7.1p for 2012 and 28.6% to 8.5p in 2013, putting the shares on a prospective multiple of 26.9 times for 2012 falling to 22.5 times in 2013. The shares tumbled by 5p to 191p.

Shore Capital retained its "sell" stance on Electrocomponents (ECM) ahead of its first quarter results release this Friday. The broker noted that the electronics distributor has maintained a robust performance against the weak economic backdrop, which it attributes to the firm's high exposure to maintenance and repair activity. However, when the climate improves, Shore expects the group to fall behind more cyclical peers, such as Premier Farnell (PFL). Shares in Electrocomponents inched down by 1.2p to 206.8p.