LONDON: Cohort Plc, the independent technology group, announced that its wholly owned subsidiary, Chess Dynamics, has been awarded a €7.5 million contract for its Air Guard Counter-Unmanned Aerial Systems (C-UAS) for air base and critical infrastructure protection for an international customer. Andy Thomis, Cohort Chief Executive, said: “I am delighted to confirm that Chess has…
AM Best affirms credit ratings of Brightsideco Insurance
SINGAPORE: AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” of Brightsideco Insurance Limited (New Zealand). The outlook of these Credit Ratings is stable. The ratings reflect Brightsideco’s balance sheet strength, which AM Best categorises as adequate, as well as its marginal operating performance, limited…
Europa Oil & Gas acquires offshore Ireland licence in proven gas play
LONDON: Europa Oil & Gas (Holdings) plc has announced the conditional acquisition of a 100% interest in Frontier Exploration Licence (FEL) 3/19, offshore Ireland, from DNO. Acquiring FEL 3/19, which is located close to the 1tcf producing Corrib gas field in the Slyne basin, will add the 1.2 tcf Edge prospect to Europa’s inventory in…
AM Best upgrades issuer credit ratings of South Carolina Farm Bureau Group members
OLDWICK: Insurance sector rating agency, AM Best has upgraded the Long-Term Issuer Credit Rating to “bbb+” from “bbb” and affirmed the Financial Strength Rating of “B++” of South Carolina Farm Bureau Mutual Insurance Company and Palmetto Casualty Insurance Company. The outlook of these Credit Ratings remains stable. Both companies are domiciled in Cayce-West Columbia, SC….
Tom O’Mahony leaves Origin Enterprises after 35 years of service
LONDON: Origin Enterprises plc, the Agri-Services Group, announced that Tom O’Mahony, Group CEO, has notified the Board that after 13 years as Group CEO, he will retire from his role and from the Board by the end of the 2020 financial year. Sean Coyle, Group CFO, has been appointed as Tom’s successor, effective 1 July…
AM Best affirms credit ratings of Kingstone Insurance Company and Kingstone Companies
OLDWICK: Global rating agenct AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Kingstone Insurance Company (KICO). Concurrently, AM Best has affirmed the Long-Term ICR of “bbb-” of Kingstone Companies Inc. (KINS) (Delaware), the insurance holding company of KICO. AM Best also…
Faron Pharmaceuticals selected for €2.5 million grant from European Innovation Council
TURKU, FINLAND: Faron Pharmaceuticals Oy, the clinical stage biopharmaceutical company, has been selected to receive a €2.5 million grant from the European Innovation Council (EIC) Accelerator pilot scheme to progress the MATINS Study and related business activities. The EIC Accelerator pilot scheme supports top-class innovators, entrepreneurs, small companies and scientists with funding opportunities to support…
Ironveld Plc announces bridge loan facility and extension of IIG option agreement
LONDON: Along with its prospective strategic partner, Inclusive Investment Group Proprietary Limited (IIG), Ironveld has made an application to a major South African funding institution for project development funding which, if successful, would provide Ironveld with sufficient funds to start mining and production at the Company’s magnetite project in South Africa. On 30 March 2020,…
Just Eat Takeaway.com to combine with Grubhub to create a leading global online food delivery player
AMSTERDAM: Just Eat Takeaway.com, and Grubhub Inc. have entered into a definitive agreement whereby the Company is to acquire 100% of the shares of Grubhub in an all-stock transaction to create the world’s largest online food delivery company outside of China, measured by Gross Merchandise Value (GMV) and revenues. Under the terms of the Transaction,…
Ceres Power Holdings announces appointment of Chairman and board changes
HORSHAM: Ceres Power Holdings, a global leader in fuel cell technology, announced that in line with Board succession planning Alan Aubrey, Chairman of the Company, is standing down and that Warren Finegold, currently a Non-Executive Director, will succeed him as Chairman with immediate effect. Mr. Aubrey has served as Chairman of Ceres since December 2012…
WPP appoints Angela Ahrendts DBE to the Board
LONDON: WPP Plc, a creative transformation company, today announced the appointment of Angela Ahrendts DBE to its Board as a Non-Executive Director. Her appointment will be effective from 1 July 2020. With a career in fashion and retail spanning more than three decades, Angela Ahrendts was Senior Vice President, Retail at Apple, Inc. from May…
Love Hemp posts 107% increase in online sales
LONDON: London-based CBD brand, Love Hemp Limited has experienced a surge in online sales during the global COVID-19 pandemic. Love Hemp’s management team has been highly responsive to customer needs and the rapidly changing business environment due to COVID-19. The effort to build greater awareness and capacity online to drive sales has resulted in continued…