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Scapa Group plc Acquisition of WEBTEC converting assets ("the Acquisition") Significantly expands and gives critical mass to medical business Scapa Group plc ("Scapa"), the global supplier of bonding materials and solutions, is pleased to announce the acquisition of the business, assets and goodwill of WEBTEC Converting LLC ("WEBTEC") based in Knoxville, Tennessee for an initial consideration of US$30 million in cash. Further cash consideration will be payable depending on the results in 2012 and 2013 up to a maximum further payment of US$15 million (see below). WEBTEC is a leading contract manufacturer and full-service converter, printer and packager of adhesive-backed medical devices that are distributed worldwide. With a state-of-the-art manufacturing facility, WEBTEC manufactures for leading companies in a multitude of arenas including advanced woundcare, medical devices, diagnostics and electronics, converting a variety of materials such as medical grade silicone, foam, film, foil and hydrogel into its customers' products.

http://www.investegate.co.uk/Article.aspx?id=201112220700144661U

Barclays Capital initiates equal weight on Go-Ahead Group, target price 1475p.

Citigroup initiates neutral on Melrose, target price 350p.

Numis downgrades Restaurant Group from add to hold, target price cut from 340p to 310p

21 DECEMBER 2011 The Board of Directors of Mulberry Group plc announced today that Bruno Guillon, 46, will be joining Mulberry as Chief Executive with effect from 1 March 2012. Godfrey Davis, currently Chief Executive and Chairman of Mulberry, will continue as non-executive Chairman after a three month handover to ensure a smooth transition. Bruno Guillon joins Mulberry from Hermès Sellier SARL, the leading French luxury brand where he is Managing Director of Hermès France, responsible for the operations of the Group's French subsidiary, a position he has held for four years. Bruno joined Hermès in 2001 having previously worked at LVMH and Nina Ricci. Godfrey Davis commented: "I am delighted that Bruno will be joining us as Chief Executive. We have planned our management succession carefully and have been actively searching for the right candidate since the beginning of this year. Bruno brings with him a wealth of luxury goods experience and an ability to drive our ambitious plans for international growth." Bruno Guillon will be working closely with Creative Director, Emma Hill and the management team who have been responsible for the brand's recent performance. Emma Hill said: "I am really looking forward to working with Bruno, we share the same vision for the brand. He brings an instinctive understanding of quality and an international perspective that will be invaluable in the next stages of our growth." Bruno Guillon said: "I am delighted to be joining Mulberry and look forward to continuing the dynamic success that the Group has achieved. It is a great English brand with a unique heritage and an exceptional opportunity for growth. I look forward to working with Godfrey, the Board of Directors, Emma and the very talented management team."

Panmure Gordon has reiterated its buy recommendation on luxury fashion brand Mulberry, saying that today’s appointment of new Chief Executive Bruno Guillon, currently the Managing Director of Hermes France, “makes perfect sense to us”. “It is logical for Mulberry to seek to add to its top management team someone with the right global brand management skills. This should enable it to move on to the next stage of its development, which is to become a truly global brand with sales of over £1bn, rather than barely more than £100m,” said analyst Philip Dorgan. A 2,000p target price is kept.

Charles Stanley has initiated its coverage on newly-listed building materials group CRH with a hold recommendation after it joined the FTSE 100 earlier this month. “On valuation the shares are probably cheap on a long term view and should have yield support but, given the economic outlook and the cyclicality of the industry there seems no urgency to buy the shares,” said analyst Tome Gidley-Kitchin.

The Times’s Tempus column looks at medical supplies firm Smith and Nephew which was once a perennial takeover target. After a re-organisation by its new Chief Executive the group is now focused on growth in the developing markets of China and India. A key metric for the firm though is how much elective surgery takes place in the US as its replacement hips and knees are a major driver of earnings. Recent numbers from a rival firm seem to imply more Americans are going under the knife now the economy is improving but Tempus says with a market cap at 11.6 times earnings Smith and Nephew is not worth a buy right now. The Questor column in the Telegraph hands out some clear advice on pharmaceuticals.

Statement regarding Hardy Underwriting Bermuda Limited ("Hardy") Following the announcement by the board of Hardy on 1 December 2011 that it is to undertake a strategic review of its business, Beazley plc ("Beazley") announces that it has confirmed its interest in entering into exploratory discussions with Hardy regarding a possible offer to acquire the entire issued share capital of Hardy. This announcement does not represent a firm intention to make an offer and there can be no certainty that an offer by Beazley will be made.

http://www.investegate.co.uk/Article.aspx?id=201112210700123721U

888 Holdings (888) has sparked a disagreement between Daniel Stewart, which views it as a "hold" at 37p and Evolution Securities, which reiterated its "buy" recommendation with an increased target price of 60p. Daniel Stewart notes concern over an impending UK remote tax which it believes could impact revenues by between 12 and 15 million dollars (7.7 and 9.6 million pounds) in 2013. The broker does note, however, that without this tax its target price would be 57p. Meanwhile, Evolution focused on the strong fourth quarter performance, and raised its full year EBITDA target from 40.1 million dollars (25.7 million pounds) to 50.7 million dollars (32.5 million pounds).

Brewin Dolphin recommenced coverage of Superglass (SPGH) with a "buy" recommendation and 38p target price. The mineral wool insulation company significantly strengthened its balance sheet and has no covenants for two years, which the broker believes will protect it against future trading. Brewin notes the raising of 8 million pounds and conversion of 12.2 million pounds of bank debt into convertible shares, which should leave net debt at the end of 2012 at around 4.7 million pounds, compared to 17 million at the end of last year.

Spirent Communications (SPT) retained its "buy" rating from Panmure Gordon, but with a lower target price of 152p, from 159p. The broker downgraded the telecoms tester in light of continued weak macro newsflow and notes that the company expects a weak performance from its service assurance division - which derives most of its revenues from the US. However, Panmure maintains that the group has strong growth potential as mobile technology develops and customers require increased network infrastructure. The shares inched down 0.7p to 105.8p

PD - and it looks like the rise will continue

Randy Bartley, President and CEO of Coastal Energy, commented: "The Bua Ban North B-09 well encountered the largest pay zone we have seen to date in this field. We are particularly excited that we have encountered oil across five Miocene zones. This confirms the lateral extent of the deeper pay zones below our main producing reservoir. Following this successful result in the deeper zones, we plan to drill further appraisal wells to continue testing the 63.0 mmbbl of prospective resources defined in the RPS report of November 15, 2011, which are incremental to the 67.0 mmbbl of 2P volumes defined in the report." "Testing of the first Bua Ban North A wells is expected to begin in the next week. MOPU installation and completion activities were delayed due to severe weather conditions, which disrupted certain parts of the supply chain, as well as damaged the crane on the MOPU, which has been repaired."

Coastal Energy Announces Results of Bua Ban North B-09 Well Coastal Energy Company (the "Company" or "Coastal Energy") (TSX: CEN, AIM: CEO), an independent exploration and production company with assets in Thailand, announces the successful results of the Bua Ban North B-09 well. The Bua Ban North B-09 was drilled as an appraisal well between the southernmost Bua Ban North B-04 well and the Bua Ban North A-09 well. The well was drilled to a depth of 5,200 feet TVD and encountered five Miocene pay zones. Total aggregate net pay in the well is 175 feet with average porosity of 27%. Pay was encountered in the M75 zone for the first time, which represents a new productive zone for the field.

http://www.investegate.co.uk/Article.aspx?id=201112210700143805U

Shell has suspended drilling at one of its Gulf of Mexico discoveries after spilling 319 barrels of drilling fluid just 26 miles from the site of BP’s fatal disaster. The Anglo-Dutch company said that it had temporarily abandoned the well while it carries out repairs. It said that the leak of chemicals, which can cause cancer, came from the rig’s “booster line” which provides extra drilling fluid and is not connected to the well. Shell had only just begun drilling its Appomattox prospect after getting the go-ahead in May from the Bureau of Ocean Energy Management, Regulation and Enforcement, the new US drilling regulator. It was its first new exploration plan approved since BP’s spill last year, which resulted in a moratorium on drilling in the Gulf, The Times says.

Cant get a much more high profile partner than AZN