William Hill marked higher on rumours of a bid approach from buy-out specialist
According to the Bloomberg news agency, Apollo Global Management is considering taking a punt on the bookmaking giant.
WILLIAM HILL WMH.L SHARES SURGE OVER 10%, TRADER CITES BLOOMBERG REPORT ON TAKEOVER APPROACH BY APOLLO AS CAUSE
— Tom Howard (@tomhtimes) September 25, 2020
In June of this year the FTSE 250 company raised roughly £224mln by placing shares at 128p a pop after its business was hit by the lockdown restrictions that led to the cancellation of a raft of sporting events.
12.05pm: Revolution Bars slumps after responding to press speculation
A CVA is a scheme whereby, with the agreement of its creditors, an insolvent company can pay off its debts over a fixed period and thus continue trading.
A day after the 10.00pm curfew on pubsn bars and restaurants came into force in England, the bars operator confirmed that a CVA is one of the options it is considering but ihas not made its mind up yet.
Revolution Bar Group confirms it is considering a CVA. Says this is further to the continuing challenging trading environment and exacerbated by the further COVID-19 related restrictions announced by the Government earlier this week. No certainty as to action at this stage
— Langton Capital (@langtoncapital) September 25, 2020
11.15am: Tiziana Life Sciences rises ahead of airing of TV interview
The biotechnology company focused on innovative therapeutics for oncology, inflammation and infectious diseases said an interview with Kunwar Shailubhai, its chief executive officer, will air this Sunday on Bloomberg International.
If you cant wait, you can view the recent interview Tizianas chairman Gabriele Cerrone gave to Proactive.[youtube https://www.youtube.com/watch?v=pMNHLCPFH-k]
10.10am: H&T big-wigs buy in
Chief financial officer Richard Withers bought 10,000 shares at 267p a share while Christopher Gillespie acquired 60,000 shares at 272p each.
9.15am: Minnows Pantheon and Bahamas lead the way in the oil sector
Independent consultant Lee Keeling & Associates (LKA) has confirmed a prospective resource of 302mln barrels of recoverable oil for the Shelf Margin Deltaic (SMD) horizon.
“LKA have detailed an expectation of a high-quality reservoir with porosity over 15% and recovery factors of 30%, The certified resource estimate of the SMD announced today, combined with the yet to be determined resource potential of the Slope Fan System and the Kuparuk formation, yields a truly world-class drilling opportunity that should rank Talitha amongst the most impactful oil wells planned anywhere in the world for 2021,” said Bob Rosenthal, Pantheons technical director in a statement.
Meanwhile, sector peer Bahamas Petroleum Company PLC (LON:BPC) surged 9.6% higher to 2.58p after it told investors that Stena Drillings Stena IceMAX vessel will be used to drill the Perseverance-1 exploration well.
The company revealed that Stena has formally notified the group that it has nominated IceMAX for the well, which is consistent with the existing rig contract.
Stena also indicated that the start of the contracted window – stated as December 15, 2020 – will be the approximate time for the arrival of the drillship in the field. Bahamas Petroleum pointed out that IceMAX is one of the most advanced drillships in the world.
Proactive news headlines:
Bahamas Petroleum Company PLC (LON:BPC) has told investors that Stena Drillings Stena IceMAX vessel will be used to drill the Perseverance-1 exploration well. The company revealed that Stena has formally notified the group that it has nominated IceMAX for the well, which is consistent with the existing rig contract. Stena also indicated that the start of the contracted window – stated as December 15, 2020, – will be the approximate time for the arrival of the drillship in the field. Bahamas Petroleum pointed out that IceMAX is one of the most advanced drillships in the world. That means a well spud date is likely to follow about 3 or 4 days later, Bahamas Petroleum noted, and the company specifically said that it expects the well will spud before Christmas.
Tiziana Life Sciences PLC (NASDAQ:TLSA) (LON:TILS), a biotechnology company focused on innovative therapeutics for oncology, inflammation and infectious diseases, has said an interview with its CEO, Dr Kunwar Shailubhai will air on The RedChip Money Report television programme on Sunday, September 27, 2020, at 6.00pm. EST on Bloomberg International, available in 100+ million homes across Europe. In the exclusive interview, Dr Shailubhai discusses the company's planned spinout of StemPrintER into a new company, Accustem Sciences, as well as its plan to initiate a clinical study with nasally administered Foralumab, a fully human anti-CD3 monoclonal antibody, in patients with coronavirus (COVID-19) in Brazil. The interview will also air in the US on the Action Channel on Sunday, September 27, 2020, at 11.00am ET and is available via live stream on American Business TV.
Sativa Group PLC (LON:SATI) said it has become a member of the Association for the Cannabinoid Industry (ACI) novel food consortium and its landmark toxicology study as part of what it said is its “ongoing commitment to continually deliver the highest level of regulatory compliance and substantiate 'CBD you can trust'". The cannabidiol (CBD) products group said the toxicology study will provide safety data required for novel food dossiers validated by the UKs Food Standards Agency (FSA) to remain on the market after March 31, 2021. Sativa said its team of scientists and quality & compliance professionals in the UK and Poland have worked with the ACI to ensure its products meet quality management criteria.
Circle Property PLC (LON:CRC) has notched up the fourth successive year of growth in its net asset value (NAV). The regional offices specialist revealed that its NAV per share rose by 3% to 285p at the end of March 2020 from 277p a year earlier, in its full-year results statement. Rental income in the year rose to £7.50mln from £6.88mln the year before. Circle saw a 14.16% increase in contracted annual rental income to £8.71mln at the end of March from £7.61mln a year earlier.
San Leon Energy PLC's (LON:SLE) interim results illustrate a company with a strong financial position and outlook. In 2020 to date, the company with investments in Nigerian oil assets received US$41.5mln in payments from operators, via loan note arrangements. Some US$88.7mln of future loan note payments remain. With US$35.6mln in cash at the end of the half-year – US$22.6mln by September 18, 2020, after US$6.8mln was put in escrow – the company said it is positioned to invest and grow further. In early September, new deals were announced which will see San Leon secure an interest in the Oza field, onshore Nigeria.
Genel Energy PLC (LON:GENL) has confirmed a flush of liquidity, receiving US$10.8mln from oil sales and completing a US$300mln bond issue. Pareto Securities was book-runner and manager for the bond issue which sees Genel issuing senior unsecured bonds, carrying a 9.25% coupon and maturity set for October 2025. Genel also confirmed it will use US$223mln to repurpose existing unsecured bonds, due December 2022. A separate statement by Genel confirmed receipt of payment from the Kurdistan Regional Government for oil sales conducted this August. Some US$4.7mln was paid to the Taq Taq field partners, giving Genel a net share of US$2.6mln. Tawke field partners received US$33.8mln which means that Genel received US$8.2mln.
Red Rock Resources PLC (LON:RRR) said its Australian gold mining joint venture, Red Rock Australasia has appointed David Holden as exploration manager. Holden was involved in the initial discoveries at Nimary/Jundee, Brocks Creek, Mt Todd (Australia), Ngaka Coal Field (Tanzania), and Big Sandy lithium (USA), said Red Rock. Red Rock Australasia, a 50.1%-owned Australian joint venture with Power Metal Resources (49.9%) has applied for twelve exploration licences in the Central Victoria Gold Fields.