Member Info for mulledwine

Tate & Lyle (TATE) has agreed to sell its 50% stake in its Columbian citric acid joint venture, Sucromiles, for 31.5 million dollars (19.6 million pounds) in cash. The food ingredients producer noted that it will continue to distributed citric acid products outside of Columbia. Shares in Tate & Lyle rose 3p to 688p.

A 63% slide in pre-tax profits to 400,000 pounds on the back of an 8% reduction in sales to 15.2 million pounds in the year to December sent shares in office equipment firm H C Slingsby (SLNG) 70p lower to 587.5p. Management reported on a period 'characterised by challenging conditions' and noted that the subdued trading environment had continued into the first quarter of 2012, forcing the group to take moves to reduce overheads. In addition, Slingsby's pension deficit increased substantially from 6.7 million pounds to 8.7 million pounds, driven primarily by lower bond yields and weaker equity market returns.

could easily hit a £1 but there will be much profit taking - I am very hesitant to buy in just now - i will wait and see if the dust settles although who knows with this - this has been what SKP has been waiting for but remember they still await "receiving the final decision from the EMA in due course"

Thought I had missed the boat after this mornings rise on the back of the news first thing - so was waiting for a drop back in the SP - just back in and wham bam another brilliant RNS -- grrrrr

Well how fortunes change

Peter Grant, Chief Executive Officer of SkyePharma, said: "The positive opinion of the CHMP is an important step forward for the development of flutiform and we look forward to receiving the final decision from the EMA in due course. This is a strong endorsement of our capabilities in developing innovative and complex respiratory products like flutiform. It is also good news that we are now on track for a new treatment option to be available for many patients suffering from asthma across Europe." "Asthma is a debilitating condition which affects millions of people across Europe, and its symptoms are still not optimally controlled," said Antony Mattessich, Regional Director Europe, Mundipharma International Limited. "We are very pleased that the CHMP has adopted a positive opinion and continue to plan for launch as soon as possible following a final decision and national marketing authorisations."

Positive opinion on flutiform® in Europe from the CHMP LONDON, UK, 20 April, 2012 - SkyePharma PLC (LSE SKP) today announces that the Committee for Medicinal Products for Human Use ("CHMP") of the European Medicines Agency ("EMA") has issued a positive opinion recommending the granting of a marketing authorisation for flutiform® (fluticasone propionate/formoterol fumarate). The decentralised procedure ("DCP") of the marketing authorisation application ("MAA") for flutiform® was referred to the CHMP for arbitration because a concerned member state did not agree with the positive benefit/risk assessment made by the reference member state, the United Kingdom, during the DCP. The positive opinion adopted by the CHMP will now go through the standing committee procedure which, in the absence of any further issues, will be converted into a legally binding decision by the European Commission, a process which, typically, takes 2 to 3 months. The standing committee decision would be binding in its entirety on all 21 concerned member states involved in the DCP, which includes the UK, Germany, France and Italy, and they would implement the decision through granting of national marketing authorisations or approvals. In a number of countries negotiations will also be required with national pricing and reimbursement authorities before the product can be made commercially available. In other countries it is anticipated that the national marketing approvals would be granted shortly after the decision is issued (these approvals can typically take between 1 and 3 months). The Group's development, marketing and distribution partner, Mundipharma, aims to launch as soon as possible after national approvals are granted and reimbursement confirmed.

http://www.investegate.co.uk/Article.aspx?id=201204201423127762B

David Masters, Deputy Chairman of Laura Ashley, the fashion and homeware retailer, has sold off a chunk of shares at an average price of 23.5p each. Masters, who now holds one million shares, sold 406,250 for a total of £95,469. The sale was made on April 18th, just over a fortnight since the company reported a fall in pre-tax profit from £24.1m to £18.4m for the year ended January 28th. Earnings per share fell from 2.65p to 1.79p.

Sale of Romaltyn Mining and Romaltyn Exploration Polyus Gold International Limited (LSE - PLGL, OTC (US) - PLZLY, "PGIL" or the "Company"), the largest gold producer in Russia, today announces that it has entered into an agreement with a British Virgin Islands incorporated holding company affiliated with SAT & Company JSC (Kazakhstan) to sell its 100% interest in Romaltyn Mining S.R.L. and Romaltyn Exploration S.R.L through the sale of their Isle of Man holding company, Romaltyn Limited, for a total consideration of USD 20 million. Completion of the transaction is conditional and is expected in the second quarter of 2012.

http://www.investegate.co.uk/Article.aspx?id=201204201040157507B

Inmarsat and LightSquared agree amended terms for Cooperation Agreement London. 20 April 2012. Inmarsat today announces that it has reached agreement with LightSquared to amend certain terms of the Cooperation Agreement between the two companies. In connection with the amended terms, LightSquared has made a payment to Inmarsat of US$56.25 million, being the completion payment for Phase 1 transition which had previously been outstanding. Under the terms of the amendment, Inmarsat has agreed to suspend Phase 2 of the Cooperation Agreement until 31 March 2014. LightSquared may, at its option, elect to restart Phase 2 prior to this date. During the period of suspension LightSquared will not be required to make any Phase 2 payments to Inmarsat, including the formerly overdue payment of US$29.6 million which was due 31 March 2012. On 1 April 2014, or an earlier date as elected by LightSquared, Phase 2 payments will recommence from that date based on a restructured payment plan that will differ from the previous Phase 2 payments and be dependent on certain future outcomes with regard to deployment of the LightSquared network. A payment due on 4 April 2012 in relation to Phase 1.5 of the Cooperation Agreement has been renegotiated within the scope of the amended terms for Phase 2. As a result of the amendment announced today, LightSquared will no longer be in default in relation to any payments under the Cooperation Agreement. Notices of default issued by Inmarsat to LightSquared in relation to previous non-payment events will no longer have any effect. The amended terms of the Cooperation Agreement will allow LightSquared additional time to secure regulatory consents that may ultimately lead to the deployment of its ATC network in North America. The deployment of the LightSquared network remains a substantive revenue opportunity for Inmarsat, through Phase 2 of the Cooperation Agreement, and Inmarsat believes this amendment is in the best interests of Inmarsat's shareholders.

http://www.investegate.co.uk/Article.aspx?id=201204200946587457B

Investec has downgraded its rating for High Street giant Marks and Spencer after this week's fourth-quarter update disappointed - in its own words, the stock is 'off the Mark and lacking Spark'. The broker has highlighted three reasons to be bearish on the stock. Firstly it does not expect a near-term recovery the UK consumer environment. Secondly, cost guidance for the year-ending 2013 was seen as disappointing. Finally, "the jury is still out on the success, or otherwise, of the strategic plan".

Jefferies has raised its target price for ARM Holdings from 466p to 485p but has maintained its underperform rating on the chip designer ahead of its first quarter results due next week. "ARM is about to exit a no-new-news-phase with heavy reliance on Windows on ARM (WoA) and Mali graphics royalties into 2H12 - neither can materially lift fundamentals from here and the former may yet have sentiment tailwinds," the broker said. "Investors have not abandoned the theme on this name but we think a lack of visibility on the long term potential has stymied sentiment."

http://www.proactiveinvestors.co.uk/companies/news/41729/hambledon-mining-reveals-rising-gold-production-at-sekisovskoye-mine-41729.html

Well today has certainly wiped out yesterday!

The Telegraph's Questor column has cast an eye over stationery and books group WH Smith, saying that while revenues are falling, profits have risen and the balance sheet remains strong. The paper notes that the share have underperformed the wider market this year by 14% and are trading at a discount to the sector of about 20%, which it says is "unwarranted". With its cash-generative qualities - seen in the the ongoing buy back and better-than-expected dividend - Questor recommends to buy.

The Tempus column in the Times has taken a look at stockbroker and investment manager Hargreaves Lansdown, saying that thanks to the success of its Vantage funds 'supermarket' platform, "it has been going like the proverbial train." The group reported a £1bn inflow of new funds in the first quarter as customers rushed to buy ISAs before the end of the tax year. Assets under administration were lifted to £26bn. "Hargreaves promises to pay out 65% of post-tax profits in dividends, while there is the lure of special payouts — a further 30% last year," Tempus notes. While there is still some uncertainty over the Financial Services Authority’s Retail Distribution Review, the paper says that shares are worth holding.

Ralph Topping, Chief Executive, commented: "I am pleased by our strong performance in the first quarter. Sportsbook wagering grew by 31%, OTC wagering saw underlying growth after taking into account adverse weather during the quarter and sports results contributed to a strong margin. Our investments in marketing and innovations continue to deliver benefits, with our Sportsbook exceeding £50m in turnover in a single week for the first time during the quarter and mobile turnover reaching almost £11m in a single week. Our mobile performance is now benefitting from our Sportsbook app being available in the Apple App Store, giving us access to thousands of new customers who have never bet with William Hill before, highlighting the growth potential of these new channels and their importance to our multi-channel offering. With positive underlying trends at this relatively early stage in the year, the Board remains confident in its expectations for the full year."