Nighthawk remains jolly 09/02/2012
US-focused Nighthawk Energy is launching a $7.5 million program to invest in its Colorado-based Jolly Ranch project.
Bankers have granted beleaguered care home group Southern Cross an extension of banking facilities until 30 October.
Fully listed Southern shocked the market at the end of June by missing the repayment date on £46 million of syndicated banking facilities after failing to sell certain property assets, amid lower-than-expected occupancy rates and problems at its specialist subsidiary, Active Care. Now, chief executive officer Bill Colvin has persuaded the banks to extend the current loan until the end of October, which the company says will allow it time to ‘progress further’ the hoped-for property sale and seek to make arrangements with the syndicate for longer term financing.
The debacle, which broke some months after Southern directors sold large chunks of shares at more than £5, sent the price, which had reached 606p in November, down to 78p at one point this month. They have now rallied to 123p, up 5p this morning, valuing the company at £231 million.
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US-focused Nighthawk Energy is launching a $7.5 million program to invest in its Colorado-based Jolly Ranch project.
Africa-focused Tower Resources (TRP) has raised £5.4 million via a placing with a mixture of institutional investors and directors.
Beleaguered travel operator Thomas Cook (TCG) has reported a loss of £91 million its first quarter also announcing the sale of its Indian division.
AIM-quoted Chariot Oil and Gas (CHAR) has completed a 3D seismic survey across its central blocks.
Aminex (AEX) and Solo Oil (SOLO) both reported the Ntorya-1 well had 'not encountered' sandstone intervals after drilling 2500 metres.
Brady (BRY), the supplier of software to the commodities sector, is to raise £18 million to fund two acquisitions.