Date: Tuesday 24 Jan 2012
LONDON (ShareCast) - Sweett Group, an international property and construction consultancy, has entered into a pre-paid option agreement for the conditional disposal by its subsidiary company Cyril Sweett Investments of its 19% interest in the equity of E4i Holdings and loan notes in its subsidiary company, E4i Schools Limited.
The £2.19m earned through the deal will initially be used to reduce borrowings before being applied to future investments.
Financial Services firm Creon Resources released a statement saying that the board of directors "note today's movement in the company's share price and confirms that it knows of no specific reason for this movement."
The firm also said: "The company will seek investment opportunities, as set out in its investment policy, and when suitable investments are sourced will make further announcements as appropriate."
The share price leapt 23% to 2.38p by 16:50.
Computer software firm Quindell Portfolio has set up a deal to buy lawyers Silverbeck Rymer for £19.31m. This will be paid with £10.25m in cash and the issue of up to 120.8m Quindell shares.
Shares in real estate company Colliers International UK plunged after it said it has received an approach from FirstService Corporation which may lead to an offer for the company's shares at a discount to the share price as at the close of trading on January 23rd.
Meanwhile, shares in Pinnacle Telecom leapt after it announced it had struck a deal with the BBC to supply technology that would enable international broadcasters to cover the 2012 Olympics. Under the terms of the agreement, Pinnacle will supply BBC International with the resilient fibre connections, including microwave back-up links, analogue and ISDN (Integrated Services Digital Network) connectivity. Pinnacle will also supply Internet protocol (IP) telephone switchboards, telephone handsets and data connections to the Stratford Broadcast Tower, studios and production crews for the world's media.
Caledonia Mining said it had doubled production at its Blanket gold mine in Zimbabwe in 2011, but the joy could be short-lived as the firm added "discussions with the government of Zimbabwe regarding the indigenisation of the Blanket Mine have continued". The firm said it was confident that it would be able to meet its targeted gold production of 40,000oz for the current financial year.
Mobile Streams said shift away from ring-tones type services towards apps and games has rewarded it with record revenue and revenue growth. In the last six months of 2011, the company recorded growth of 40% to £7.4m. It said earnings before interest, tax, depreciation and amortisation (EBITDA) in the first half ended 31 December 2011 would be around break-even.
San Leon Energy has completed the acquisition of more than 2,280 kilometres of two-dimensional (2D) seismic data across its Tarfaya and Zag licences in Morocco. The data was significantly better than previous 2D seismic data in the area as a result of longer offsets and higher density acquisition, the firm said.
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