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-11.24% spread
Comment on Press Speculation Entertainment One notes the press speculation regarding a potential offer. No approach has been received by eOne.
When was this trading in the pounds?
didn't think it was possible...with all the broker rating...their comments taken with a pinch of salt...
......Company's profile on SEDAR at www.sedar.com. The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward- looking information contained in this press release, the Company has made assumptions about: the satisfaction or waiver, as applicable, of any conditions to the completion of the Transactions disclosed herein; the Company's business, the economy and the mineral resources development and extraction industry in general; the Company's ability to obtain the Amendment and the Consent; and the Purchaser's ability to obtain the Antimonopoly Approval. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. FOR FURTHER INFORMATION PLEASE CONTACT: Orsu Metals Corporation Kevin Denham Chief Financial Officer +44 (0) 20 7518 3999 OR Canaccord Genuity Limited Henry Fitzgerald O'Connor / Martin Davison +44 (0) 20 7523 8000 www.orsumetals.com
In view of the current economic situation and the depressed levels of commodity prices, management has considered the relative merits of maintaining the listing of its shares on both AIM and TSX, and today announces the cancellation of the admission of its shares to trading on AIM which will be effective from May 11, 2016, subject to submission of the requisite notices prior to that date. In deciding to effect the cancellation of the admission of the Company's shares to trading on AIM, the following factors were considered significant in reaching this conclusion by the Board: -- de-listing from AIM results in clearly identifiable cost savings, such as the fees for retaining a Nominated Adviser and the annual fees payable to the London Stock Exchange; -- in contrast de-listing from TSX does not preclude the Company from continuing to be a reporting issuer for Canadian securities law purposes and so cost savings, if any, are likely to be far more limited; -- the existing listing of the Company's shares on TSX will continue to provide all shareholders with a comparable dealing facilities to enable trading in the future. FORWARD-LOOKING INFORMATION This press release contains forward-looking information which is not comprised of historical facts. Forward- looking information involves risks, uncertainties and other factors that could cause actual events, results, performance and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained in this press release includes, but may not be limited to, the anticipated completion of the Transactions and the terms and timing related thereto, the Company's use of the proceeds from the Transactions, and the expected effect of the Transactions on the Company, the application for and obtaining of the Consent, the anticipated timing of the Company's Annual and Special Meeting and the anticipated consequences of de-listing from AIM. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the ability of the parties to satisfy any conditions to the completion of the Transactions disclosed herein, the inability to obtain, maintain, renew, amend and/or extend required licences, permits, authorizations and/or approvals from the appropriate regulatory authorities, including (without limitation) the Company's inability to obtain (or a delay in obtaining), among other things, the Amendment, and/or the Consent and/or the Purchaser's inability (or a delay in obtaining) the Antimonopoly Approval, and other risks relating to the regulatory framework in Kazakhstan, adverse changes in the laws or political environment in Kazakhstan, adverse changes in commodities prices, as well as certain other risks set out in the Company's public documents, including its annual information form dated M
The carrying value of net assets attributable to the Karchiga Project in the Company's audited consolidated financial statements as at December 31, 2015 was US$7.9 million (net of the amount attributable to the non- controlling interest). The losses attributable to the Karchiga Project (including impairments and exchange losses) were US$1.6 million for the year ended December 31, 2015 (US$1.2 million for the year ended December 31, 2014). Dr Sergey Kurzin, Executive Chairman of Orsu, commented: 'Although management believe in the long term prospects for copper, it cannot ignore the current economic reality of a sustained period of depressed commodity prices and of negative investor sentiment towards the resources sector generally and junior resource companies in particular, which have affected the Company's ability to finance the Karchiga Project both to date and in the foreseeable future. The sale of Karchiga, if completed, will provide the Company with a platform to identify new potential opportunities to seek to create value for shareholders.' Conditional sale of Kogodai Project In addition, the Company has conditionally agreed to sell its effective 51% interest in its Kogodai Project in the Republic of Kazakhstan to the same party for $10,000 (the "Kogodai Transaction", together with the Karchiga Transaction, the "Transactions"). The sale will be effected by the sale of the Company's 63.75% interest in Harssin Management B.V. which in turn owns a 100% interest in Orsu Metals Kazakhstan LLP which holds an 80% interest in Kogodai JV LLP. Kogodai JV LLP is the holder of the Kogodai Project licences. The Kogodai Transaction is conditional upon the Company obtaining the formal consent to the change in ownership from the MID which is required under Kazakh law. The Kogodai Transaction is not interconditional on the completion of the Karchiga Transaction. Management of the Company has concluded that, in the light of the proposed sale of the Karchiga Project, and the continuing uncertain economic environment facing the Company and the resources sector as a whole, the Kogodai Transaction would be beneficial to the Company because, if completed, it would release the Company from its ongoing exploration and related financial obligations for the Kogodai Project. As an early stage project, the carrying value of the Company's interest in the Kogodai Project as at December 31, 2015 was $38,000 (net of the non-controlling interests). The losses attributable to the Kogodai Project were US$0.3 million for the year ended December 31, 2015 (US$0.5 million for the year ended December 31, 2014) Cancellation of AIM admission
(Together Orsu, Lero and Eildon are referred to as the "Sellers"). -- Deferred consideration of up to US$2 million based on 67% of relief obtained for corporate tax losses or recovery of VAT accumulated to the completion date by MLD -- The Transaction is subject to various significant conditions, including: -- Approval of the Transaction by shareholders by way of a resolution for the sale, to be proposed at an annual and special meeting. -- The Purchaser obtaining the requisite antimonopoly approval from the relevant Kazakh authorities (the "Antimonopoly Approval") -- The Company obtaining the formal consent to the change in ownership from the Ministry of Industry and Development (the "MID", the relevant Kazakh authority) which is required under Kazakh law (the "Consent"); -- The Company obtaining an amendment to the licences to delay commencement of production to the first quarter of 2019 (the "Amendment") -- the issuance or renewal (extension) of Technical Conditions for connection to the electricity grid and to procure the sufficient water supply for the facilities of the Project (including Technical Conditions for water conduit) -- If any of the Amendment, the Consent or the Antimonopoly Approval are outstanding and the Purchaser does not agree to extend the longstop date, the Sellers will repay the deposit to the Purchaser. -- The longstop date is October 8, 2016, but will automatically roll forward by a further a further three months if the only conditions not satisfied at that time are one or more of the Consent, the Amendment or the Antimonopoly Approval; the longstop date may also otherwise be extended by the mutual agreement of the parties. -- The Company will pay a termination fee of US$400,000 plus costs of the Purchaser up to an additional US$150,000 in the event that it terminates the agreement before Completion. -- The Sale and Purchase Agreement contains commercial warranties and indemnities from the Sellers. The Company will apply for the Consent as required under Kazakh law. Whilst the Directors are confident that the Company will receive the Consent and has obtained these in the past for previous transactions, the timing of the granting of such Consent is unknown and there can be no assurance that the Company will be successful in obtaining the Consent. Consequently, the Company will seek shareholder approval for the Transaction at its Annual and Special Shareholder Meeting to be scheduled for the second half of June 2016. Formal notice of the shareholder meeting to approve the Transaction will be provided in due course together with related shareholder documents including an information circular setting out the matters to be considered at the meeting.
Conditional Sale of Karchiga and Kogodai Projects and Cancellation of Admission to Trading on AIM Released 08:09 11-Apr-2016 FOR: ORSU METALS CORPORATION AIM, TSX SYMBOL: OSU April 11, 2016 Conditional Sale of Karchiga and Kogodai Projects and Cancellation of Admission to Trading on AIM LONDON, UNITED KINGDOM--(Marketwired - April 11, 2016) - Orsu Metals Corporation (AIM:OSU) (TSX:OSU) - Highlights -- Orsu has conditionally agreed to sell its 94.75% interest in its Karchiga Project -- an initial consideration of US$7.75 million, plus -- deferred consideration of up to US$2 million based on recovery of VAT and relief obtained from accumulated tax losses -- The sale of Karchiga will be conditional upon, among other things, approval of a resolution to dispose of the Karchiga Project by shareholders at an annual and special meeting and obtaining the formal consent from the Kazakh authorities for the change in ownership. -- It is expected that the shareholder meeting to approve the disposal of Karchiga will take place during the second half of June 2016 -- The Company has also conditionally agreed to sell its effective 51% interest in its Kogodai Project to the same party for $10,000, conditional on the formal consent from the Kazakh authorities for the change in ownership. -- In addition, with a view to saving costs, the Company will apply for cancellation of admission of its common shares to trading on AIM, with effect from May 11, 2016. The Company will maintain its listing on the TSX Main Board. Conditional Sale of Karchiga Project Orsu Metals Corporation, the London-based dual listed (TSX:OSU) (AIM:OSU) company, today announces that it has entered into an agreement (the "Sale and Purchase Agreement") with an arm's length party, Karasat Trading FZE (the "Purchaser"), a company registered in the United Arab Emirates with other mining interests in Kazakhstan, to sell its 94.75% interest in GRK MLD LLP ("MLD"), which owns the Company's Karchiga Project in the Republic of Kazakhstan ("Karchiga Project") for an initial US$7.75 million, plus deferred consideration of up to US$2 million based on recovery of VAT and losses accumulated in MLD (the "Karchiga Transaction"). The key terms of the Sale and Purchase Agreement, which will be filed on SEDAR, are as follows. -- A deposit of $100,000, payable within 14 business days of signing the Sale and Purchase Agreement. -- Initial consideration of $7.75 million (less the deposit) payable on completion. -- The initial consideration is to be allocated as follows: -- $4,438,268 for the purchase of intercompany debt owed by MLD to Orsu -- $3,311,502 for the purchase of intercompany debt owed by MLD to Lero Gold Corp. ("Lero", the intermediate holding company for the Karchiga Proj
well thats what Bruno Brookes and R. G. Parker paid for them back in 2005...
Probably the drop in commodities
Sorry I meant in the last 3 years it has been July time
historically it has always been July time for first divi of the year.
Investec Capital Indicates Potential 64.75% Increase In Shares Of Entertainment One Ltd........http://www.risersandfallers.com/2016/03/04/investec-capital-indicates-potential-64-75-increase-in-shares-of-entertainment-one-ltd/_____________Published On: Fri, Mar 4th, 2016 Stocks | By Sylvia Delisle On Friday Investec Capital reiterated its broker consensus on shares of Entertainment One Ltd (LON:ETO) giving the company a ‘Buy’ rating. Investec Capital gave shares of Entertainment One Ltd a price target of 244 indicating a potential increase of 64.75% from Entertainment One Ltd’s current price of 148.1.Entertainment One Ltd has 292,299,000 shares in issue which have a share price of 148.1 giving Entertainment One Ltd a market capitalisation of 432.89M GBp . The 52 week high of Entertainment One Ltd’s shares is 328.35 whilst the 52 week low for the company’s shares is 125.4. The 50 day moving average of LON:ETO is 146.56 and the 200 day moving average is 209.69. Entertainment One Limited is a Canada-based entertainment company. The Company is focused on the acquisition, production and distribution of film, television, family and music content rights across various media throughout the world. The Company operates in two segments: Film and Television. The Film segment includes revenues from all of the Company’s activities in relation to the production, acquisition and exploitation of film content rights. The Television segment includes revenues from all of the Company’s activities in relation to the production, acquisition and exploitation of television, family and music content. The Company has licensing and merchandising operations in the United Kingdom, Australia and North America. The Company sources, selects and sell entertainment content rights across various media platforms globally. The Company’s operations are located in Canada, the United Kingdom, the United States, Australia, Benelux and Spain.
Dualtone Music Group Bought by Entertainment One, Spinefarm Acquires Candlelight______________3/2/2016 by Ed Christman_________http://www.billboard.com/articles/business/6866008/label-prays-to-little-baby-jesus-that-next-lumineers-album-does-well________The beat of label consolidation is picking up speed. Entertainment One (eOne) has acquired the Dualtone Music Group, home of the Lumineers. That acquisition comes on the heels of Universal Music Group subsidiary Spinefarm's acquisition of metal label Candlelight in late 2015. Terms of both deals have not been revealed. Spinefarm/UMG acquired Candlelight late last year, news first reported by Music Business Worldwide. According to sources, Candlelight does about $350,000 in U.S. billing and the acquisition reportedly cost less than $1 million. The first album from the Candlelight roster that will come out through Spinefarm will be from Norwegian artist Ihsahn on April 8. Meanwhile, sources say that Dualtone was sought around $10 million for itself, and suggest eOne paid more than $5 million for the group. Over the last several years, Dualtone averaged $9 million in annual revenue, but sales fluctuated depending on how well the Lumineers sold. The band's self-titled album, which featured the hit "Ho Hey," has scanned 1.7 million units so far. Under a licensing deal, Dualtone will issue a new studio album from the Denver-based folk rock band this year. After that, the label controls the group's catalog for another five years or so, according to sources. eOne executives decline to comment on financial details. According to a press release, Dualtone will continue to be led by co-founder Scott Robinson and label president Paul Roper. In addition to the Lumineers, the Dualtone label has a catalog of almost 230 albums and includes recordings by such artists as Langhorne Slim & The Law, Noah Gundersen, June Carter Cash, Wild Child, Robert Earl Keen, Shakey Graves, Shovels & Rope and Guy Clark. While eOne already has a Nashville presence, its office there mainly deals with gospel/Christian music, so the two Nashville operations will remain separate, according to company executives. Dualtone, meanwhile, is distributed by the Alternative Distribution Alliance (ADA), which will continue to represent the label -- including the next Lumineers album -- to accounts in the U.S., at least until the label's distribution deal is up, according to sources. "We are delighted to welcome Scott, Paul, their team and the talented Dualtone family of artists to eOne," Entertainment One president & CEO Darren Troop said in a statement. "We have long recognized the potential in Americana and Indie Rock and we were keen to find the right opportunity to add the popular music format to our portfolio. Dualtone’s expertise and track-record of success make them stand out, both strategically and culturally, and we are confident that this new relationship will be very complementary.
eOne takes Peppa Pig to seas with Costa Cruises deal________By Jade Burke____JANUARY 27TH 2016 AT 10:07AM__________The new deal will see Peppa Pig branded kids areas and activities on board 10 ships. Entertainment One (eOne) is bringing Peppa Pig to cruise ships thanks to its new deal with Costa Cruises. As part of the new partnership, customers will see Peppa Pig branded kids areas and activities on board 10 ships. Kids areas on-board will be branded to recreate locations from the TV series, while children will also get the chance to meet characters. Ami Dieckman, head of international licensing at eOne, said: “This exciting new partnership with Costa Cruises demonstrates that the appeal of Peppa Pig now stretches to a wide international audience. “Their cruise ships visit hundreds of destinations across the world, so their commitment to the brand is testament to its longevity and strength as a global entertainment property.” Various Peppa Pig themed games and activity workshops will also be introduced on-board the cruises, which are part of a marketing initiative dubbed Welcome to Happiness Squared. Luca Casaura, VP corporate marketing of Costa Cruises, added: “The concept of our new campaign is truly innovative; with Costa, your happiness is multiplied, because you can also see happiness in the eyes of your travel companions. “Making kids happy is absolutely fundamental to reach this goal. That’s why we chose Peppa Pig – kids all over the world love her and are thrilled to play with her."___________http://www.licensing.biz/news/read/eone-takes-peppa-pig-to-seas-with-costa-cruises-deal/043293
to buy
eOne signs licensees for The BFG film_______Published December 14, 2015 by Charlotte Eyre Share Entertainment One Licensing (eOne) has signed a slate of new licensing partners for next year’s The BFG film, including manufacturers of clothes, board games and confectionery. The licensing company, which is distributing the film in the UK and handling all licensing rights across Europe, has signed deals with Blues (for leisurewear), Winning Moves (a Monopoly board game), C&M Licensing (nightwear, underwear and socks) and Kinneron (chocolates). “We’ve had a tremendous response to The BFG from licensees and have assembled a strong line up of partners across a wide range of categories,” said Hannah Mungo, head of UK licensing at eOne. “Excitement is beginning to build with the release of the film’s first trailer last week, which kick-starts an eight month marketing campaign.” The other licensing partners, which have already signed a deal with eOne, are Fashion UK, William Lamb, Ravensburger, Bazooka Candy, Gemma International, Pyramid International and Danilo. The DreamWorks film adaptation of Roald Dahl’s The BFG, which is directed by Steven Spielberg, was announced last year and will be broadcast in 2016, the centenary of Dahl's birth. Luke Kelly, Dahl’s grandson and head of the Roald Dahl Estate, has told The Bookseller the film will be “breathtakingly brilliant”........http://www.thebookseller.com/news/eone-signs-licensees-bfg-film-318352
Wow, I have never seen ETO move that fast before. Almost like a P&D...
Analysts At JP Morgan Reiterated ETO As Overweight__________Published On: Thu, Dec 10th, 2015 Stocks | By Sylvia Delisle____________http://www.risersandfallers.com/2015/12/10/analysts-at-jp-morgan-reiterated-entertainment-one-ltd-loneto-as-overweight/___________________Today analysts at JP Morgan reiterated Entertainment One Ltd’s (LON:ETO) shares as ‘Overweight’ in a report released to investors. According to JP Morgans price target of 301 on the company’s stock this indicates the broker now believes there is an increase of 84.21% from Entertainment One Ltd’s current price of 163.4 _____The number of Entertainment One Ltd shares in issue is 292,299,000 which have a current share price of 163.4 bringing Entertainment One Ltd’s market capitalisation to 477.63M GBp . The 52 week high of shares in Entertainment One Ltd is 328.35 while the 52 week low for the company’s shares is 134. The businesses 50 day moving average is 215.91 and its 200 day moving average is 286.38. Entertainment One Limited is a Canada-based entertainment company. The Company is focused on the acquisition, production and distribution of film, television, family and music content rights across various media throughout the world. The Company operates in two segments: Film and Television. The Film segment includes revenues from all of the Company’s activities in relation to the production, acquisition and exploitation of film content rights. The Television segment includes revenues from all of the Company’s activities in relation to the production, acquisition and exploitation of television, family and music content. The Company has licensing and merchandising operations in the United Kingdom, Australia and North America. The Company sources, selects and sell entertainment content rights across various media platforms globally. The Company’s operations are located in Canada, the United Kingdom, the United States, Australia, Benelux and Spain.