Member Info for mulledwine

Stagecoach (SGC) retained its "buy" recommendation from Panmure Gordon, with an increased target price of 280p, from 260p. The broker is impressed with the transport group's ability to set up several Megabus hubs in North America and maintain a high operating margin. Panmure notes the company's strong track record and believes it is well placed to acquire a number of UK rail franchises which are coming up for offer. The shares grew 4.375p to 257.5p.

Aveva: Barclays downgrades to ‘underweight’ from ‘equalweight’; cuts target to 13p from 16.6p.

Geopark director increases stake Non-executive director Juan Cristobal Pavez has spent more than £625,000 in Latin American oil and gas exploration and production company Geopark Holdings. Pavez, who joined the board in 2008, purchased 130,500 shares at 480p each in a move that brings his total to 2,164,594, a 5.1% stake in the company. Along with four colleagues, Pavez, who is also a board member of Grupo Security, Vida Security and Quintec, was last month paid 653 shares at 668.92p in lieu of director's fees and benefits.

It all depends on persuading the Banks to lend more - if the Banks think its a no go then thats it but if they get their funding then this will defo rise accordingly. Risky...but could be rewarding.

YouGov: Investec retains hold rating and target of 46p.

Pennon Group: Investec retains hold recommendation and 717p target.

Michael Page: Investec keeps buy rating and 450p target.

Michael Page: Seymour Pierce keeps hold rating and reduces target to 350p target.

Michael Page: Evolution Securities slashes target from 640p to 388p, buy rating retained.

Logica: Barclays stays at ‘equal weight’; cuts target to 0.9p from 1.45p.

Think I am missing it too ! - think its the outlook rather than present that is the worry

Royal Bank of Scotland lowers target price to 350p.

Liberum Capital downgrades Stagecoach from buy to hold, target price 262p

Misys insists it will stick to its executive pay plan despite an extraordinary shareholder revolt at the software group's recent annual general meeting. At the AGM, 37 per cent of votes were cast against the remuneration report, whose potential rewards were branded "wholly excessive" by Pirc, the shareholder group. Last year, only 4 per cent of companies had such strong opposition to their remuneration reports, says the Independent.

Richard Charkin, Executive Director of Bloomsbury, said: "I believe that excellence is the result of always striving to do better. Wisden India will deliver excellence in its reporting of cricket in the sub-continent and will be the independent voice of the next generation of Indian cricket fans." Anand Krishnan, Executive Chairman of FidelisWorld, said: "FidelisWorld is honored to be associated with Bloomsbury, and proud in every manner to launch Wisden into India to bring 150 years of cricketing history and tradition to the most passionate cricket fans of the world. With a clear plan and perspective Wisden will become the single true voice and the Home of Indian Cricket" Lawrence Booth, Editor of Wisden Cricketers' Almanack, said: "As a cricket journalist, I know from personal experience that no country offers the sport more variety, depth, colour and conjecture than India. The chance to marry Wisden's age-old strengths with the 21st-century home of the game was simply too good to ignore."

Bloomsbury Publishing Plc is pleased to announce it has signed a long term licensing deal with leading sports and entertainment management firm FidelisWorld FZ LLC for the rights to Wisden India. Rights will also extend to the regions of ****stan, Bangladesh, Sri Lanka, Nepal, the Middle East and North America. A central foundation of Wisden India will be an annual book aimed squarely at the burgeoning Indian market. It will focus on all areas of the Indian game - including Test matches, One Day Internationals, the IPL and domestic cricket - while sharing the same qualities as Wisden Cricketers' Almanack. A new pool of writers is expected to include some great Indian players as well as respected journalists. Some of the most distinguished names in cricket from Sir Neville Cardus and Sir Donald Bradman to Richie Benaud and Mike Atherton have contributed to past editions of Wisden. India represents the fastest growing, most vibrant market in world cricket, home to the single largest audience of fans. Whereas Wisden commands widespread recognition and respect in India, currently it has very little product presence there. The local market for information on cricket in India is highly fragmented. Various websites, TV channels and print publications exist, but Wisden India plans to build upon Wisden's worldwide reputation to become the leading voice on Indian cricket using the latest technology. FidelisWorld aims to unify the fragmented sectors into a consolidated whole in the target market, thereby achieving synergies and building value. Wisden India will be launched in early 2012, and the first edition of the annual Wisden India book will be published in October next year to coincide with the start of the domestic season. Wisden Sri Lanka is also expected to be launched in 2012. Wisden India also plans to work with various media partners to deliver year-round content on a range of platforms, providing a barometer of the game as well as a truly independent record of Indian cricket. In addition, a Wisden India Hall of Fame will be introduced together with events at which new inductees into the Wisden India Hall of Fame will be announced. Wisden Cricketers' Almanack has been published every year since 1864 and its independence, authority and accuracy over nearly 150 years has made it recognised throughout the cricket world as the definitive recorder of the game. The team behind Wisden India will include Richard Charkin and Charlotte Atyeo of Bloomsbury together with the existing Wisden editorial and management people in the UK and senior sports marketers Navneet Sharma, CEO and Sanjay Khuller, VP Cricket of FidelisWorld. Bloomsbury will be responsible for recruiting the editorial team and has already hired sports consultants Terry Blake (the former Marketing Director of the ECB) and Alex Chamberlen (previously Head of Global Sales for Cricinfo) to advise on the venture.

GRRRR Ignore last post. http://www.investegate.co.uk/Article.aspx?id=201110100700138345P

John Barnsley, Chairman of the Independent Committee, commented: "Institutional shareholders have told us that, if the current investment strategy cannot be continued given the opposition of the Rayne family Concert Party, institutions would support an orderly wind-down by the current management team under the supervision of independent directors. The Company will be writing to shareholders shortly to table resolutions to approve the orderly wind-down and to address the composition of the Board so as to ensure its full independence as it supervises the wind-down. The Board is concerned to ensure there is no possibility of the Rayne family Concert Party having, or appearing to have, any undue influence or confidential information during the course of the implementation of the wind-down."

John Barnsley, Chairman of the Independent Committee, commented: "Institutional shareholders have told us that, if the current investment strategy cannot be continued given the opposition of the Rayne family Concert Party, institutions would support an orderly wind-down by the current management team under the supervision of independent directors. The Company will be writing to shareholders shortly to table resolutions to approve the orderly wind-down and to address the composition of the Board so as to ensure its full independence as it supervises the wind-down. The Board is concerned to ensure there is no possibility of the Rayne family Concert Party having, or appearing to have, any undue influence or confidential information during the course of the implementation of the wind-down."

PROPOSED CHANGE OF INVESTMENT STRATEGY and CONVENING OF GENERAL MEETING On 6 September 2011 the Board of LMS Capital plc (LMS or the "Company") announced that it had received an approach by its Chairman, The Honourable Robert Rayne, and certain members of the Rayne Concert Party together representing approximately 35 percent of the Company's shares, requesting that the Company be broken up in the short term. An independent committee, comprising the Non-Executive Directors excluding Robert Rayne (the "Independent Committee") and under the Chairmanship of John Barnsley, has considered this request and, with its advisers, consulted certain shareholders about possible solutions. The Independent Committee has sought to structure an exit for the Concert Party, but it has not been possible to establish a price at which the Concert Party would be willing to sell its holding and at which a buyer or buyers for those shares could be found in current market conditions. In consequence, the Independent Committee no longer believes that the status quo is sustainable, given the wide discount at which the Company's shares trade (along with the shares of other similar companies) and in excess of one third of the Company's shares are held by the Rayne Concert Party, which is emphatic that the Company must pursue a realisation strategy. The Independent Committee has concluded that, whilst it has every confidence in the incumbent management team led by Glenn Payne, it would be in the interests of shareholders as a whole for a new strategy to be implemented which would require the Company's portfolio to be realised in an orderly manner. This strategy would be expected to achieve a balance between an efficient return of cash to shareholders and maximising the value of the Company's investments. No new investments will be made. The Independent Committee proposes that this strategy be implemented, under its supervision, by the incumbent management, with a streamlined cost structure and suitable incentive arrangements in place to align management's interests more closely with the shareholders under the new strategy. The Board will accordingly be publishing a circular and notice of General Meeting shortly to propose a change to the Company's investment policy as outlined above, and to address the composition of the Board so as to ensure its full independence as it supervises the wind-down. Accordingly, Robert Rayne has been asked to resign from the Board. In the event that these objectives are not achieved, three of the independent non-executive directors, John Barnsley, Richard Christou and David Verey, will resign from the Board.