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LOCAL SHOPPING REIT PLC (LSR.LN), a specialist property
developer is hopeful of announcing a new joint venture partner in
the new year as it looks to buy property from struggling small
retail firms, the company's joint chief executive said
Thursday.
The company, which buys and develops retail sites for smaller
shops, often from businesses in financial distress, is currently
involved in two other joint ventures, but is seeking a third.
At 1530 GMT, shares +0.5 pence, or 1%, at 53.0 pence.
MAY GURNEY INTEGRATED SERVICES PLC (MAYG.LN), a support services
firm, posted an increased first-half pretax profit and said a
recent acquisition had doubled the number of local authority
clients in its portfolio.
The company, which maintains roads and railways predominantly in
the public sector, said its GBP34.9 million purchase last month of
TransLinc, a service provider to local authorities across the U.K.,
had given it access to an additional 40 public-sector clients,
adding to its existing portfolio of 40.
Shares +3.3 pence, or 1.1%, at 288.2 pence.
CONSORT MEDICAL PLC (CSRT.LN), a medical device company, is in a
strong position to secure a manufacturing contract for a device for
smokers who want to quit that could allow it to capture a
significant chunk of the U.K. cigarette market, the firm's chief
executive said.
The company has already been awarded a contract to manufacture
the device, which will be sold by a subsidiary of British American
Tobacco PLC (BATS.LN), for clinical trials.
Shares +22 pence, or 4.4%, at 520.0 pence.
TELFORD HOMES PLC (TEF.LN), a property developer, is considering
developing sites for first-time buyers as part of a U.K. government
scheme to underwrite mortgages for new homeowners, the firm's chief
executive said.
"We're planning to sign up [for the scheme] and hope to make
some sales from it," Chief Executive Jon Di-Stefano told Dow Jones
Newswires. "If it works out then we'll look to buy and develop more
sites for first-time buyers."
Shares -0.5 pence, or 0.7%, at 74.5 pence.
HAVERFORD (BERMUDA) LTD., a closely held insurer, said it may
walk away from a deal to buy 25% of OMEGA INSURANCE HOLDINGS LTD.
(OIH.LN) after a "very significant and unexpected deterioration" in
the Lloyd's of London firm's prospects.
Haverford said Omega's financial position had fallen
significantly in recent months, adding that it may decide not to
extend its bid for the stake, which currently relates to a tender
offer worth between 70 pence and 83 pence a share.
Omega shares -4.25 pence, or 6.3%, at 63.5 pence.
WESSEX EXPLORATION PLC (WSX.LN), an oil and gas explorer, said
it has raised GBP12.0 million through a share placing to fund its
share of the costs in the Guyane Maritime Exclusive Exploration
License, offshore French Guiana, where it has a 1.25% interest.
Tullow Oil PLC (TLW.LN) operates the license with a 27.5%
interest and is partnered by Royal Dutch Shell PLC (RDSA.LN) with a
45% interest, Total SA (FP.FR) with a 25% interest and Northpet
Investments Ltd. with 2.5%. Northpet is jointly owned by Northern
Petroleum PLC (NOP.LN) and Wessex.
Shares +0.2 pence, or 3.8%, at 5.5 pence.
YULE CATTO & CO. PLC (YULC.LN), a chemicals company, said it
has sold its pharmaceutical division for GBP35 million to pay down
some of its debt and focus on its polymer business.
The company is selling the division, Uquifa, to Indian
pharmaceutical chemicals firm Vivimed Labs Ltd. (532660.BY).
Shares +5.4 pence, or 3.2%, at 175.5 pence.
ENEGI OIL PLC (ENEG.LN), an oil explorer, said it is beginning
the second phase of exploration at the Clare Basin in Ireland, an
area that the company considers to have significant potential.
The second phase will involve further sampling, laboratory
analysis and a continuing review of seismic data. Enegi will
compile its findings in a report for Ireland's Department of
Communications, Energy and Natural Resources by November next
year.
Shares +0.38 pence, or 4.3%, at 9.125 pence.
PARAGON DIAMONDS LTD. (PRG.LN), a diamond miner, said it has
secured its second exploration license in Lesotho, which it will
start exploring immediately due to the diamond potential and
opportunity to fast-track to production.
The Motete Dyke license is a 23-square-kilometer prospecting
license and is valid for two years. This new license is just 10
kilometers away from the company's Lemphane diamond project.
Shares -0.5 pence, or 1.8%, at 27.5 pence.
ANITE PLC (AIE.LN), a mobile handset and network testing
company, said it continues to benefit from customer demand for
next-generation network standard long-term evolution, as it posted
a 39% rise in pretax profit for its fiscal first half.
The company, which tests mobile phones and networks to make sure
they can interact seamlessly with each other, said the growth rate
in the first half was "exceptional" but nevertheless expects
significant revenue and profit growth in the second half.
Shares +2.3 pence, or 2.8%, at 81.8 pence.
FTSE Small-Cap +0.1%
AIM +0.2%
-By Tommy Stubbington, Peter Evans and Iain Packham, Dow Jones
Newswires; +44 (0) 20 7842 9296; uksmallcaps@dowjones.com