Babcock International Group (BAB) shares tick up 3.89% to 339.85p with new appointment
Today, the British aerospace, defence and security company announced the appointment of John Ramsay to the Board of Directors as Non-Executive Director with immediate effect.
Prior to working as the former Chief Financial Officer of Syngenta AG from 2007 to 2016, as well as interim Chief Executive Officer of Syngenta from October 2015 to June 2016, Ramsay held several senior international finance roles with both Zeneca Agrochemicals and ICI.
Angus Energy (ANGS) shares jumped 35.48% to 1.05p as it considers potential sale
In a statement released this morning, Angus Energy, an AIM-listed company, said it had “received indications that parties may be interested in making an offer for the company”.
The energy company, Angus Energy, told investors that it is addressing the ‘urgent need’ for transition energy projects in particular in the geothermal sector in the south west of England while it also remains fully committed to achieving first gas at Saltfleetby ‘as soon as possible.’
Addressing shareholders, the Company said the Board believes that its market capitalisation ‘doesn’t reflect the short-term value of existing hydrocarbon assets and their immediate cash flow potential and any long-term value in the Company’s scaleable geothermal project.’
Commenting on the current state of the market, George Lucan, CEO of Angus Energy stated:
“Presently, the market is attributing little value to hydrocarbon reserves in general, or in our instance, the immediate cash flow prospects of the Saltfleetby Gas Field. Accordingly, in the light of this and the interest expressed by other energy market participants, we think it in the best interests of shareholders to conduct this strategic review and formal sale process.”
Digitalbox (DBOX) shares rose 17.65% to 11p following stronger than anticipated trading
Shares in Digitalbox jumped by over 20% on Thursday after it confirmed to investors that trading across its three brands had been ‘stronger than anticipated’ in December 2021.
The mobile-first digital media business, which owns the websites Entertainment Daily, The Daily Mash and The Tab, said December is traditionally its most important trading period.
As a result of the performance, Digitalbox said it expects revenue and EBITDA for the year to 31 December 2021 to be ‘significantly ahead’ of the recently upgraded market consensus of EBITDA* of £850,000, with revenue now expected to be not less than £3.6 million.
It said the strong trading resulted from the continued positive trend towards mobile advertising inventory, and better-than-expected traffic from increased editorial investment over the period.
SDX Energy (SDX) shares ticked up 11.54% to 10.88p as it commences oil production
Today, the MENA-focused energy firm confirmed that it has commenced oil production at the MSD-21 infill development well on the Meseda field in its West Gharib concession in Egypt.
The well at the concession, of which SDX holds a 50% working interest in, has now been successfully perforated, tied-in to the existing facilities, and flow tested, it told investors.
The Company said it is expected that, post-clean up, the well will achieve a stabilised gross production rate of c.300bbl/d which is in line with previous pre-drill estimates of the well.