Member Info for mulledwine

http://www.investegate.co.uk/Article.aspx?id=201107150700084505K

Interim Management Statement, first quarter 15 July 2011 ─ Experian, the global information services company, today issues an Interim Management Statement that includes an update on trading for the three months to 30 June 2011. Commenting on the performance of Experian, Don Robert, Chief Executive Officer, said: "We have delivered good revenue growth in our first quarter, reflecting continued progress in our growth strategy. At constant exchange rates, total revenue growth from continuing activities was 10%, with organic revenue growth of 6%. "We expect to continue to deliver good growth in our business and are confident in our strategy and ability to execute. While mindful of the current macro environment, we expect organic revenue growth for the second quarter to be similar to the first quarter. For the full year, we continue to anticipate organic revenue growth in the mid-high single digit range, modest margin improvement and strong cash flow conversion."

http://www.investegate.co.uk/Article.aspx?id=201107150700084652K

Share Matching Awards In accordance with the terms of the Share Matching Deeds described in the prospectus published by Bumi plc dated 17 June 2011 (the "Prospectus"), each of Sir Graham Hearne, Sir Julian Horn-Smith, Lord Robin Renwick and Mr Steven Shapiro (the "Share Matching Award Directors") has exercised his right to subscribe for Matching Shares up to his maximum entitlement, being 30,000 new Bumi Voting Ordinary Shares each. As a consequence, a total of 120,000 new Bumi Voting Ordinary Shares have been allotted to the Share Matching Award Directors. It is expected Admission will become effective, and that dealings will commence, at 8.00 a.m., today, 15 July 2011. Capitalised terms not otherwise defined in this announcement have the meanings given to them in the Prospectus, Supplementary Prospectus and Second Supplementary Prospectus (as defined in the announcement of the Company dated 30 June 2011 and in the announcement of Vallar PLC dated 27 June 2011). For the purposes of the Financial Services Authority's Disclosure and Transparency Rules, upon admission on 15 July the total number of voting rights in the Company will be 157,007,812. The total number of Ordinary Shares will be 224,892,459 (of which 157,007,812 will be Bumi Voting Ordinary Shares and 67,884,647 will be Bumi Suspended Voting Ordinary Shares). The above total voting rights figure of 157,007,812 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the voting rights of the Company, under the Disclosure and Transparency Rules.

Bumi Resources Step-Up Acquisitions and Share Matching Awards Bumi plc ("Bumi") announces that applications have been made to the UK Listing Authority for 1,299,745 new Bumi Voting Ordinary Shares to be admitted to the premium listing segment of the Official List of the UK Listing Authority and to London Stock Exchange plc for 1,299,745 new Bumi Voting Ordinary Shares to be admitted to trading on the London Stock Exchange's main market for listed securities (together, "Admission") of which 1,179,745 new Bumi Voting Ordinary Shares form consideration for the Bumi Resources Step-up Acquisitions announced by the Company on 30 June 2011.

http://www.investegate.co.uk/Article.aspx?id=201107150700094649K

With robust Chinese demand for iron ore and real estate, then Prosperity boasts a potentially impressive growth story. What' more, its listed cement investments underpin most of the current share price. Add that to the impressive yield - nearly 9 per cent with the special payout included - and the healthy cash pile, and the shares look too cheap. Buy. Last IC view: Buy, 117p, 17 June 2011s

Prosperity tightens focus Created: 11 July 2011 Written by: Martin Li Prosperity Minerals continues to see plenty of upside potential in China's growth story - in particular growing demand for iron ore for steel making, as well as for real estate. True, iron ore shipped in the year fell 20 per cent to 6.3m tonnes as the company increasingly looked to long-term contracts instead of spot sales. Nevertheless, three new off-take agreements to acquire iron ore - one in Malaysia and two in Canada - will increase the supply of competitively-priced ore that Prosperity can sell onto steel mills. An investment in a Brazilian joint venture to explore and produce iron ore should in time further increase input volumes. In real estate, Prosperity is developing a range of projects in Guangzhou (Canton), China's third largest city, and Changzhou and Hangzhou in the Yangtze Delta region of China. Pre-sales of the first units in Guangzhou and Changzhou are planned for late 2011. And, despite selling the majority of its cement manufacturing business in 2010, Prosperity still retains investments in two cement plants - including a 33 per cent stake in Shanghai-listed Anhui Chaodong Cement, that's valued at some $246m (£153m).

Investec upgrades BAE Systems from hold to buy, target price reduced from 350p to 320p.

JP Morgan Cazenove downgrades BAE Systems from overweight to neutral, target price reduced from 424p to 348p.

however that was a lot of movement - down to 270 and back to 295 as I type

Numis upgrades API Group from hold to buy, target price raised from 41p to 45p.

Merrill Lynch upgrades Berkeley Group from neutral to buy, target price raised from 1140p to 1555p.

Credit Suisse has raised its target price on Burberry, but the broker thinks that a lot of investment will be needed to maintain strong sales growth and keeps its “neutral” recommendation on the luxury fashion chain.

In a statement of the blindingly obvious, Panmure Gordon says that the probability of a successful takeover by Rupert Murdoch’s News Corporation of the satellite broadcaster BSkyB has been reduced to zero. Panmure, which previously thought there was a 10% chance of the deal going ahead, places its target price on BSkyB “under review”, following yesterday’s news that NewsCorp, which publishes the Sun and the Times, has withdrawn its bid for the satellite broadcaster. “As the market now has certainty on the outcome, we would expect the shares to rally, at least in the short term.,” Panmure said, adding that it is now looking “into the fundamentals in more detail.” Panmure has a “hold/special situations” recommendation on BSkyB.

The boss dosnt say much but he is positive! Commenting on today's announcement, Chief Executive Andy Raynor said: "We are intent on maximising performance from the existing businesses and are confident of prospects for the Group."

Upgrades on the back of http://www.investegate.co.uk/Article.aspx?id=201107140700083553K

Statement regarding High Court judgment F&C Asset Management PLC ("F&C" or "the Group") notes that judgment has today been handed down by the High Court of Justice Chancery Division in respect of litigation between its subsidiary, F&C Alternative Investment (Holdings) Limited ("F&C AIH"), and the two individual founder members of F&C Partners LLP ("Partners"), the Group's majority-owned fund of hedge funds business which is now in run off. As disclosed in F&C's last two Annual Report & Financial Statements, F&C AIH had sought a declaration as to the validity of the exercise of put options by the individual founder members to sell their minority interest in Partners to F&C AIH for a sum of approximately £7.8 million. The individual founder members had sought an order that F&C AIH buy out their minority interest, either at the put option price, at a price based on hypothetical profits, or at a price determined by the Court under section 996 of the Companies Act 2006 on the grounds that the affairs of Partners had been conducted in a manner which was unfairly prejudicial to the individual founder members' interests. F&C is disappointed to note that the Court has held that the put options were validly exercised by the individual founder members and that their interests had been unfairly prejudiced with the result that F&C AIH will have to buy out the relevant interests. The extent of F&C's liability is yet to be quantified by the Court, but the Board has been advised that it is likely to be equal to the £7.8 million exercise price under the put options plus a significant proportion of the individual founder members' legal costs. The proportion of costs payable is to be determined by the Court, but the individual founder members' total legal costs are not believed to be in excess of £4.5 million. The individual founder members may argue that the price of buy out should exceed £7.8 million but the Board has been advised that this argument is unlikely to succeed. In addition to amounts payable to the individuals, F&C has incurred a further £1.7 million of associated legal and related expenses during the current financial year in connection with this litigation. As previously disclosed, the Group has held a provision of £2.4 million in relation to this matter since 2009. This sum was based on legal advice regarding the expected outcome of the claim as well as on an alternative contractual price at which the individual founder members were, during 2009 and 2010, entitled to require F&C AIH to purchase their interests. The difference between this provision and any amount which F&C AIH is ordered by the Court to pay as a result of this judgment will be charged to F&C's income statement. F&C is currently considering its position and will make a further announcement

http://www.investegate.co.uk/Article.aspx?id=201107141220004073K

JP Morgan Cazenove initiates overweight on Kingfisher, target price 329p