LONDON: Cadogan Petroleum plc, an independent, diversified oil & gas company listed on the main market of the London Stock Exchange, has reached an agreement with Ukrinvest Group for the sale of Gazvydobuvannya LLC for a total consideration of $2.8 million. Gazvydobuvannya LLC is one of two wholly owned subsidiaries, based in the East of…
KE signs $50mn loan agreement with Standard Chartered supported by GuarantCo
KARACHI: K-Electric has signed US$ 50 million loan agreements with Standard Chartered which is supported by GuarantCo to undertake upgradation of power infrastructure including the installation of theft-resistant Aerial Bundled Cable (ABC) as well as smart grid solutions. The financing documents were signed at KE head office by Moonis Alvi, CEO and Rizwan Pesnani, Head…
Al Waseelah issues $50 million Sukuk in European market
LONDON: In a first for the European market, Al Waseelah plc has issued a USD 50 million 10% 7-year Sukuk to finance the expansion of the mining operations for NQ Minerals plc, a UK listed company with a proven track record and operating profits. This is a ground breaking transaction; a first for European corporates,…
Eastspring signs agreement to acquire 50.1pc stake in Thanachart Fund
LONDON: Eastspring Investments, the Asian asset management business of Prudential plc, has signed an agreement to acquire 50.1 percent of Thanachart Fund Management Co., Ltd. (TFUND) from Thanachart Bank Public Company Ltd. (TBANK) and Government Savings Bank (GSB). Following this acquisition TBANK’s customers will have access to Eastspring’s world class investment solutions. The consideration for…
Macarthur Minerals to seek dual listing on Australian Securities Exchange
LONDON: Macarthur Minerals has today announced its intention to seek a dual listing on the Australian Securities Exchange (ASX) before the end of 2019. On 16 August 2019, Macarthur lodged an application with ASX regarding its suitability for proposed admission to the ASX Official List. On 24 September 2019, the Company received “in-principle” advice from…
Novatek and HMS Group sign memorandum on localizing fabrication of LNG equipment
MOSCOW: PAO NOVATEK and HMS Group signed a Memorandum on Strategic Partnership and Localizing the Fabrication of Critical Equipment for LNG Production. The Memorandum notes the results already achieved on developing medium-tonnage compressor equipment. According to the Memorandum, the Parties intend to pursue long-term cooperation to localize the fabrication of compressors, pumps, and other equipment…
Keppel Land acquires commercial property in Shanghai’s Pudong District
SINGAPORE: Keppel Land China Limited has entered into a share sale and purchase agreement to acquire 100% equity interest of several wholly-owned subsidiaries of The9 Limited in China which collectively own Zhangjiang Micro-electronic Port Block #3, a completed commercial property in Pudong District, Shanghai, for an aggregate sum of RMB493 million. The transaction is expected…
Clive Whiley appointed chairman of Dignity Plc
LONDON: Dignity Plc announced that Clive Whiley has been appointed as a Non-Executive Director and Chairman of the Company with effect from 26th September 2019. Clive has over thirty five years’ experience in regulated strategic management positions since becoming a Member of the London Stock Exchange. He has extensive main board executive director experience across…
DGOC completes $7.7mn acquisition of natural gas gathering system
LONDON: Diversified Gas & Oil (DGOC), the U.S. based owner and operator of natural gas, natural gas liquids, and oil wells as well as midstream assets, confirms that further to the announcement made by the Company on 27 August 2019, it has completed the purchase of two separate natural gas gathering systems in Pennsylvania and…
IQ-AI receives FDA clearance to market StoneChecker software
LONDON: Imaging Biometrics, IQ-AI’s Milwaukee based subsidiary, received notification that the FDA has cleared StoneChecker Software for marketing in the USA. David Smith, Chief Executive of the operating subsidiaries of IQ-AI stated, “We are delighted that after an exhaustive review of the product, that the FDA has cleared the product for marketing in the USA.”…
ADO Properties enters agreement to sell a residential portfolio in Berlin
BERLIN: ADO Properties announced the entering into of a share purchase agreement with Gewobag Wohnungsbau Aktiengesellschaft Berlin for the sale of 100% of the shares of certain subsidiaries owning 23 properties consisting in aggregate of approximately 5,800 residential apartment units. The sale price for the shares is EUR 920 million, less approximately EUR 340 million…
Saracen to acquire Sinclair Project for A$10 million
PERTH: Saracen Mineral Holdings has entered into a binding agreement which will see it acquire the Sinclair project from Talisman Mining for A$10 million. Sinclair is located 25 km south-west of Saracen’s Thunderbox project in the world-class Agnew-Wiluna greenstone belt. Sinclair includes a 207sqkm tenement package covering more than 80km of prospective ultramafic host rocks….