Snoozebox to restructure 17/05/2013
Shares in temporary hotel company Snoozebox Holdings (LON:ZZZ) tumbled after it was announced the business will undergo a reorganisation.
Timis scoops £80m
Frank Timis, executive chairman of African Minerals, has secured an £80m fundraising
Frank Timis’s African Minerals has raised £80 million at £4 for its Tonkolili iron ore project in Sierra Leone.
The AIM-quoted company has secured the funding in an underwritten institutional placing, with the help of Canaccord Adams and Mirabaud Securities, to start infrastructure building at Tonkolili. African Minerals hopes to double a currently estimated resource of 5.1 billion tonnes there to 10 billion tonnes and to start production early next year.
The placing proceeds will go to build a 120 km haul road from the mine site at Tonkolili to the nearest railhead and to refurbish rail and port facilities. In addition, African Minerals has granted options to subscribe for £11.5 million-worth of shares at the placing price to China Railways Materials Commercial Corporation, with which the company already has a supply agreement.
Timis, the controversial former boss of Regal Petroleum and owner of 33.5 per cent of African Minerals, declares that the funding and off-take deals struck for Tonkolili’s output ‘place the company in a very strong position to realise iron ore production from Tonkolili during the first quarter of 2011’.
Floated at 75p three years ago, African Minerals’ shares, which dipped to 20p at one point, have recently been star performers, hitting a 440p high, and now trade at 399.75p, valuing the company at £854 million.
Beat the market
1. View our terms and conditions here
Advertisement
The latest company webcasts
Live and pre recorded video & audio updates from companies on their latest news, results & AGMs through interviews and presentations. Find out more.
Achieve impressive returns on the go
Gain instant access to some of the best-performing and fastest growing companies in the small cap arena. Sign up NOW!
Director's Pay 2013
The annual Directors' Pay on AIM Report is the most comprehensive review of directors' renumeration on AIM available. It's ideal for benchmarking your team's, your organisation's and your own salary. The full report is available to order in PDF format for £350 (+VAT). Order report here
Cash Shells 2013
This research provides a comprehensive overview of cash shells, companies that have become a significant feature on the Main Market, AIM and PLUS landscape. The full report (out June 2013) is now available to pre-order in PDF format for £295 (+VAT). Contact us for more info
M&A on AIM 2012
This new report examines valuation metrics, cash balances and financial performance to provide dealmakers with all the tools they need to pinpoint undervalued companies on AIM. The full report is available to order in PDF format for £295 (+VAT). Order report here
Coverage and tips for AIM and Small Caps
Informative features and research on fast-growing companies, with AIM market and small cap tips, news on growth stocks, penny shares and junior stock market companies. Regular share recommendations, directors' dealings, company news and analysis, new issues and upcoming IPOs.
If you're interested in business tax updates visit our specialist tax guide website.
Latest small-cap and growth company news
Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.
Popular News
Acquisition
Acquisitions
Aim
Aim Market
Boardroom Moves
Breaking-even
British Technology
Cash
China
Commodities
Credit Crunch
Deals & Contracts
Debt
Dividend
Emerging Markets
Full List
Fundraisings
Gold
Growth Company
Growth Stocks
Loss Making
Main Market
Mergers & Acquisitions
New Issues
Penny Shares
Placing
Plus Markets
Profit Warning
Restructuring
South Africa
Speculative Punts
Technology
Trading Update
Turnaround
Undervalued
Advertisement
Latest News
Cash shells on the rise 16/05/2013
There are now 91 London-listed cash shells, compared with 64 last year, according to the annual Cash Shells Directory produced by Vitesse Media Research.
Max hits oil 16/05/2013
Oil and gas explorer Max Petroleum (LON:MXP) has found oil at its ZMA-E6 well in Kazakhstan.
Sound Oil delivers first gas 16/05/2013
Italy-focused Sound Oil (LON:SOU) has delivered its first gas shipment from its onshore Rapagnano field to the local gas distributor.
Lonrho accepts offer 15/05/2013
African-focused conglomerate Lonrho (LON:LONR) has agreed to a cash offer for the group by current shareholder FS Africa.
Centamin going strong 15/05/2013
Despite ongoing legal woes, Egypt-focused miner Centamin (LON:CEY) has hit record figures during its first financial quarter.
Sectors
Aerospace & Defence
Alternative Energy
Automobiles & Parts
Banks
Beverages
Chemicals
Construction & Materials
Electricity
Electronic & Electrical Equipment
Equity Investment Instruments
Financial Services
Fixed Line Telecommunications
Food & Drug Retailers
Food Producers
Forestry & Paper
Gas, Water & Multiutilities
General Financial
General Industrials
General Retailers
Health Care Equipment & Services
Household Goods
Industrial Engineering
Industrial Metals
Industrial Transportation
Leisure Goods
Life Insurance
Media
Mining
Mobile Telecommunications
Nonequity Investment Instruments
Nonlife Insurance
Oil & Gas Producers
Oil Equipment, Services & Distribution
Personal Goods
Pharmaceuticals & Biotechnology
