Member Info for mulledwine

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Twin sale of shares at Brooks MacDonald The founding director and chief investment officer (CIO) of Brooks MacDonald have each sold 10,000 shares in the firm at 1,211p. The man behind the investment fund management firm, Chris MacDonald, who also holds the role of chief executive officer, made the £121,100 sale alongside his co-worker and CIO, Richard Spencer, less than one month after the firm announced a 37% rise in underlying pre-tax profit to £7.8m. MacDonald was clearly pleased with the result, saying at the time, "this has been another year of significant growth for the group."

Nomura downgrades Smiths Group from neutral to reduce, target price cut from 1150p to 1050p.

Pacific Alliance Asia Opportunity Fund Limited Director Dealing Pacific Alliance Asia Opportunity Fund Limited ("the Company" or "PAX") announces the following dealings in the Company. The Company was informed that on 5 October 2011, Metage Capital Limited, an investment management firm in which a director of the Company, Mr. Richard Webb, is a director and controlling shareholder, purchased 1,700,000 of the ordinary shares $0.01 each ("Ordinary Shares") at a price of $0.975 per Ordinary Share on behalf of client funds of Metage Capital Limited. As a result of this transaction, Mr. Webb has an indirect interest in 1,700,000 Ordinary Shares in the Company which represents 1.26% of the Company's total voting rights.

Numis upgrades Cranswick from hold to add, target price unchanged at 300p.

Espirito Santo initiates TUI Travel as a buy, target price 188p.

CONT. It remains the Board's intention to employ the Company's share repurchase powers where shares can be purchased on terms which are beneficial to the Company, taking into account the availability from time to time of surplus cash to fund such purchases. Shares will only be purchased at a price which is accretive to net asset value per share and the timing of any such purchases will be entirely within the Board's discretion and subject to applicable regulatory considerations. Shareholders will be invited to endorse the outcome of the strategic review by voting on the Company's investment policy at the forthcoming Annual General Meeting scheduled for 7 November 2011. Notice of the meeting is expected to be despatched to shareholders with the Company's Annual Report for the year ended 30 June 2011 on or about 21 October 2011.

Ludgate Environmental Fund Limited ("Company") Strategic review The board of the Company is pleased to announce that the strategic review announced on 15 July 2011 has now been concluded. This follows consultation with shareholders and the Company's advisers, Matrix Corporate Capital LLP, and a detailed consideration by the Board of the Company's investment remit, historic performance, investment portfolio and future prospects. As a result of the strategic review the Board recommends maintaining the Company's investment remit, as set out when the Company was launched in 2007 and communicated consistently since then. However, the Board is mindful of the limited liquidity available through the market, the fact that certain shareholders would appreciate short term liquidity and of the significant discount at which the Company's shares trade. Having previously announced that up to £4 million would be made available to repurchase shares in the market the Board has concluded that it would be more appropriate to allocate this amount, along with a further £2.75 million, to a special dividend payment. Accordingly, the Company is now declaring a special dividend of 12 pence per share. The dividend will be paid on or about 31 October 2011 to those shareholders on the register at close of business on 21 October 2011, with an ex-dividend date of 19 October 2011.

http://www.investegate.co.uk/Article.aspx?id=201110070700097404P

Coverage Carclo trading in line with expectations Date: Friday 07 Oct 2011 LONDON (ShareCast) - Carclo has traded in line with expectations for the first half of the year, the Technology-led plastics business said in a trading update. The firm reported a "solid performance" in the current uncertain economic environment, but said that as previously indicated, a greater proportion of operating profits is expected in the second half of the year. As anticipated, profits in its technical plastics division will be slightly behind last year's first half, which was unusually strong due to a number of factors, including the timing of tooling profits. The division is expected to deliver a stronger second half performance and continuing growth in profitability for the full year. The precision products division saw profits ahead of the prior year's first half. The firm's Fine Line Technology project at Conductive Inkjet Technology has made "significant" progress and the Cambridge pilot line facility is now production ready. The next significant milestone for the group is the commencement of volume production, which the group expects in our fourth quarter. The group said: "Our financial position remains strong. The bank re-financing exercise is well under way, terms have been agreed and we expect to complete this process shortly. The board remains confident in the outlook for the full year." The share price was 5.62% down at 268.5p by 14:39.

NEW IBERIA SHORT AND MEDIUM HAUL SUBSIDIARY IAG's board has approved the launch of Iberia's new subsidiary airline Iberia Express which will operate part of Iberia's short and medium haul network. The subsidiary is being established to compete effectively in the Spanish domestic and European market. Over time it will look to develop new markets and destinations and strengthen the Madrid hub, creating new jobs for the Spanish economy. Iberia Express will start operations in summer 2012 offering business and economy seats at competitive fares from Madrid Barajas. In addition to direct traffic, it will also provide transfer feed onto Iberia's longhaul network. The subsidiary will have a single A320 fleet with four aircraft initially and 13 aircraft by the end of 2012. All the aircraft will be sourced from Iberia's existing fleet. Iberia Express will have lower operating costs than Iberia's loss-making short and medium haul business. The subsidiary will recruit new staff at market rates and have improved aircraft utilisation. Initially, maintenance and ground handling has been awarded to Iberia. The creation of Iberia Express will not change the terms and conditions of existing Iberia employees or Iberia's existing relationships with Vueling and Air Nostrum.

http://www.investegate.co.uk/Article.aspx?id=201110061720517382P

http://www.investegate.co.uk/Article.aspx?id=201110061722357392P

Investec reduces target from 2,000p to 1,400p, buy rating kept

Investec reiterates buy rating and 730p target.

Evolution upgrades WS Atkins from sell to buy.

Reed Elsevier CFO to retire next year By Benjamin Chiou Date: Thursday 06 Oct 2011 LONDON (ShareCast) - FTSE 100 information solutions firm Reed Elsevier has announced that chief financial officer Mark Armour is to retire from the board at the end of next year. Armour, who joined the group in 1995 and took up his current position a year later, said: "After 15 years as Chief Financial Officer I have decided it is right to announce my planned retirement now in order to give the company sufficient time to appoint my successor and arrange an orderly transition." Reed Elsevier, who just two weeks ago acquired US financial services compliance specialist Accuity Holdings for £343m, said it will begin the process of finding Armour's successor. “I would like to thank Mark for his major contribution to the group over the past 16 years. Mark has been tireless in helping drive the transformation of Reed Elsevier into a leading digital solutions business. We wish him all the best for the future," said chairman Anthony Habgood.

Evolution initiates Rentokil as neutral, target price 77p.

Second acquisition for Spectris this week Date: Thursday 06 Oct 2011 LONDON (ShareCast) - In its second acquisition of the week, precision instrumentation and controls company Spectris has purchased Sixnet LLC for $72m. The acquisition was made on a debt and cash-free basis. The cash cost, , equivalent to around £44m, will be met from existing cash and bank facilities. Sixnet will become part of Red Lion Controls in the Industrial Controls segment. John O'Higgins, Chief Executive of Spectris, commented: "The acquisition of Sixnet represents a further step in growing our strategic business segments and enables us to build our presence in the industrial controls sector." The firm also announced the appointment of a new business group director, and welcomed Stephen Blair to the board. "We are delighted that Stephen Blair has joined the executive management team. His background and experience are ideally suited to our range of technologies and industries and he joins us at an exciting time in our development," the group added.

http://www.investegate.co.uk/Article.aspx?id=201110060700216603P