LONDON, UK: Savannah Resources plc, the European lithium development company, has announced pivotal changes within its leadership and board, signaling a significant phase of growth and development. These changes include the appointment of Mr. Emanuel Proença as the new Chief Executive Officer (CEO), and the addition of two Non-Executive Directors. This development was disclosed on…
UBL to set up exchange company and sell UK subsidiary
KARACHI, UK: United Bank Limited (UBL) has announced its plans to establish an exchange company with a paid-up capital of PKR 1.0 billion, subject to approval by the State Bank of Pakistan and other regulatory compliances. The exchange company will be a wholly owned subsidiary of UBL and will offer various services such as currency…
Zyp Technologies to revolutionize transportation with electric motorcycles amid soaring petrol prices in Pakistan
KARACHI: As Pakistan grapples with skyrocketing petrol prices, a glimmer of hope has emerged on the horizon with the announcement of a groundbreaking initiative by a new start-up company. Zyp Technologies, the innovative firm in question, has unveiled ambitious plans to manufacture 8,000 electric motorcycles right within the country, offering a sustainable alternative to traditional…
Reabold boosts stake in LNEnergy and Colle Santo gas field
LONDON, UK: Reabold Resources plc, an oil & gas investing company, has increased its stake in LNEnergy Limited by 1.6% to 17.6%, with a cash investment of £250,000. LNEnergy holds an exclusive option over a 90% interest in the Colle Santo gas field, a large gas resource in Italy with two production wells ready and…
Alpha Group to acquire 85% of Financial Transaction Services B.V. trading as Cobase
LONDON, UK: Alpha Group International plc has entered into a conditional agreement, pending approval by the Dutch Central Bank, to acquire circa 85% of Financial Transaction Services B.V., trading as “Cobase”, a leading multibank connectivity platform. The initial consideration for the acquisition is €9.4m (£8.0m) in cash, with the remaining stake to be acquired via…
Ithaca Energy to acquire remaining 30% working interest in Cambo
LONDON, UK: Ithaca Energy (LON: ITH) announced that the Group has agreed, subject to regulatory approval, to acquire the remaining 30% stake in Cambo from Shell U.K. Limited (“Shell”) taking Ithaca Energy’s stake in Cambo to 100%. The acquisition, which has minimal near-term cost exposure, will provide Ithaca Energy with full control over the progression…
FRP Advisory Group acquires Wilson Field Group for £4.8 million
LONDON, UK: FRP Advisory Group plc, a leading national specialist business advisory firm, announced the acquisition of Wilson Field Group for a consideration of £4.8 million. This comprises cash of £3.1 million and the issue of new ordinary shares with a value of £1.7 million, plus a subsequent payment for the net assets acquired on…
Andrew Kitchingman appointed Chairman of HC Slingsby Plc
LONDON, UK: HC Slingsby PLC, one of the market leaders in the distribution of industrial and commercial equipment, announced the appointment of Andrew Kitchingman as Independent Non-Executive Chairman with immediate effect. Dominic Slingsby will continue his role on the Board of Operations Director. Andrew is Chairman of Mpac Group plc, a non-executive Director of Andrews…
Swallow raises $1M in pre-seed funding to simplify pricing management for businesses
Swallow, a platform that enables businesses to easily manage and update their pricing models, secured $1 million in pre-seed funding from two leading SaaS investors. The funding round was jointly led by Connect Ventures and Jigsaw VC, both based in the UK. Connect Ventures is a venture capital firm that focuses on pre-seed and seed-stage…
Kale Logistics Solutions secures $30 million in a Series B round
A vertical SaaS platform that helps with logistics needs, Kale Logistics Solutions, has secured $30 million in a Series B round. The round was spearheaded by Creaegis Advisors, a Bangalore-based investor in private equity and venture capital. Creaegis Advisors was established in 2018. Kale Logistics Solutions plans to use the funds to grow its presence…
Automobile sales roar back to life in August 2023, surging 49%
KARACHI: Pakistan’s automobile industry experienced a significant surge in sales during the month of August 2023, with a staggering 7.6K units sold. This surge, representing a 49% month-on-month (MoM) increase, has sent ripples of optimism throughout the industry. However, it’s important to note that this impressive rebound comes in the wake of a 36% year-on-year…
KKR invests another $250 million in Reliance Retail
Reliance Retail, India’s largest retailer owned by billionaire Mukesh Ambani, has received another $250 million investment from KKR, a global private equity firm. This boosts KKR’s stake in the company to 1.42% from 1.17%, valuing Reliance Retail at $100 billion. The deal is part of Reliance Retail’s ongoing fundraising efforts, which have attracted several foreign…