Bushveld Minerals Ltd had soared by over 20% on the bourses post the company announced that on Friday 17 March 2017 it signed a definitive Sales and Marketing Agreement with Wogen Resources Limited. This assists with the financing required for the conditional acquisition by Bushveld Vametco Limited of a 78.8% interest in Strategic Minerals Corporation from Evraz Group SA .
The Wogen Financing comprises a US$3.0 million Product prepayment as part of the acquisition debt package for the Acquisition Transaction and inventory and receivable financing of US$6.0 million to optimise the position of the operations of Vametco Alloys.
The CEO of the company, Fortune Mojapelo commented on the same, “We are pleased to welcome Wogen as a long term partner for the sales, marketing and distribution of Nitrovanpost completion of the Transaction. The Wogen Agreement not only takes us a step closer to completing the transformational acquisition of SMC but also provides important working capital finance for Vametco Alloys. We look forward to a fruitful and mutually beneficial relationship based on Wogen's extensive experience in commodities trading and distribution across a range of commodity markets including vanadium, servicing customers across the globe”.Read More >
Mariana resources Ltd had lost around 3% on the bourses on 17th March 2017, Friday post the company announced that it’s following warrants and options have been exercised into ordinary shares with funds received. The following options and warrants have been exercised:
392,825 Warrants exercised at GBP0.30 15,000 Options exercised at GBP0.30 10,000 Options exercised at GBP0.20 Therefore, based on the options and warrants the company would issue total 417,500 new ordinary shares. Application has also been made to the London Stock Exchange for the new ordinary shares to be admitted to trading on AIM and the TSXV. Dealings are expected to commence on or about 23 March 2017.Read More >
Man Group Plc had lost over 3% on the bourses, post the company announced that that Phillip Colebatch, who has served as Senior Independent Director since August 2013, will step down from this role following the 2017 AGM on 5 May 2017, while remaining a member of the Board.
Centrica Plc. had lost over 3% on the London Stock exchange, post the stock announced its financial year 2016 results. As per the results, the company’s FY’16 adjusted operating profit and adjusted earnings per share both were up by 4%. Adjusted operating cash flow was also up by 19% to £2,686m, including £357m working capital inflow in UK Business. Net debt also came down by 27% to under £3.5bn. According to the management guidance, adjusted operating cash flow shall be expected to exceed £2bn in 2017 and capital expenditure would be limited to £1bn. Also, Global Consumer and Business divisions would be formed to enable a more coherent approach to the end-customer.