LONDON: Land Securities Group announced that Mark Allan is to be appointed as its next Chief Executive Officer (CEO). Mark Allan is currently Chief Executive Officer of St Modwen Properties Plc, a role he has held since 1 November 2016. He joined St Modwen Properties Plc from The Unite Group plc, where he was CEO…
AM Best affirms credit ratings of Folgate Insurance with stable outlook
LONDON, UK: AM Best has affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bb+” of Folgate Insurance Company Limited. The outlook of these ratings is stable. The ratings reflect Folgate’s balance sheet strength, which AM Best categorises as adequate, as well as its adequate operating…
PIA adds two Airbus A320 in its fleet
KARACHI: Pakistan International Airlines (PIA) has acquired two Airbus A320 aircraft on dry lease from ALAFCO Aviation Lease and Finance Company. The first aircraft reached Karachi on Thursday morning while the second A320 will be delivered to PIA by end of this year. CEO PIA Air Marshal Arshad Malik, Chief Operating Officer Aijaz Mazhar, Chief…
InfraStrata signs Memorandum of Understanding with Navantia of Spain
LONDON: InfraStrata plc has entered into a Memorandum of Understanding (MoU) with Navantia S.A., S.M.E., the Spanish shipbuilding company. This MoU is the first step towards formalising a Teaming Agreement with Navantia, under which, both companies will work together on a multitude of infrastructure and marine projects to take them to commercial fruition. InfraStrata is…
Karen O’Neill appointed Managing Director of Kingsrose Mining
SUBIACO: Kingsrose Mining notified that Chief Executive Officer Karen O’Neill has been appointed Managing Director, effective immediately. Ms O’Neill has more than 20 years’ operational and executive experience across mining, investment banking and professional services. She was appointed Chief Executive Officer in May this year. Since then, Ms O’Neill has led a commercially focused operations…
Energean Israel signs gas sale agreement with MRC
LONDON: Energean Oil and Gas plc announced that Energean Israel and MRC Alon Tavor Ltd. have signed a Gas Sales and Purchase Agreement (GSPA) for the sale of approximately 0.5 Bcm/yr, or up to 8 Bcm over the term of the contract. Supply will commence at Karish first gas and the contract term is for…
Veris Limited sells Elton Consulting for $13mn
MELBOURNE: Veris Limited has sold Elton Consulting Pty Ltd to WSP Australia Pty Limited for $13million. The sale of Elton will result in a significant reduction in net debt and a cash injection that will significantly strengthen Veris’ balance sheet allowing the company to focus on growth opportunities within its core business Veris Australia, and…
Breedon to form joint venture with Robert Brett & Sons Limited
LONDON: Breedon Southern Limited announced plans to form a joint venture in London trading as Capital Concrete Limited, with Robert Brett & Sons Limited and the Capital Concrete senior management. Three of Breedon’s existing ready-mixed concrete assets will be combined with those of Capital Concrete, Brett’s established ready-mixed concrete operation in London. The enlarged business,…
Mogul celebrates esports inclusion into SEA Games with online challenge
SYDNEY: Esports Mogul Limited announced that Razer, the leading global lifestyle brand for gamers, and Mogul will run the SEA Games Esports Online Challenge in parallel to the 2019 Southeast Asian Games (SEA Games). Esports Mogul is the world’s most advanced pure-play online esports tournament platform. The SEA Games is a biannual event supervised by…
HeraMED signs cooperation agreement with Kinderheldin and Duttenhofer
PERTH: Medical technology company, HeraMED Limited has entered into a cooperation agreement with leading midwife service provider, Kinderheldin GmbH and existing distributor, Duttenhofer Group. Kinderheldin are a leading midwife service provider, based in Berlin. The group has developed a web based, online platform that offers expecting parents access to midwives through online chat or telephone….
Glycotest receives $3mn second tranche of $10mn Series A financing
NEW YORK: Glycotest, Inc., a diagnostics company commercializing new and unique blood tests for life threatening liver cancers and fibrosis-cirrhosis, has received the second $3 million tranche of the $10 million Series A financing round from Shanghai Fosun Pharmaceutical Co., Ltd. The focus of this strategic investment is the advancement of the HCC Panel toward…
Chemring Group to sell its US subsidiary for $17 million to Nammo
LONDON, UK: Chemring Group announced that a conditional agreement has been entered into for the sale of its US subsidiary Chemring Ordnance, Inc. to Nammo Defense Systems Inc. for a cash consideration of $17 million. The consideration will be paid in cash on completion, subject to a working capital adjustment. This sale completes the Group’s…