LONDON TRADING UPDATES: Motif Bio Says Orange Avenue Buys Subsidiary
Fri, 26th Feb 2021 20:20
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
Motif Bio PLC - AIM-listed cash shell - Enters into a stock purchase agreement with Orange Avenue Technologies LLC, to which Orange has acquired 100% of the outstanding shares of Motif Inc from Motif with immediate effect. Orange is wholly owned by John Palmer, president of Tamarack Associates Inc - the company which was engaged by Motif to facilitate the sale of iclaprim and other assets of Motif Inc in January 2020. Motif remains suspended from trading while the proposed transaction is being negotiated and advanced. The transaction is an important step to prepare Motif to complete the reverse takeover. It also creates incentives for Orange to focus on the potential generation of value from iclaprim for Motif s shareholders, while allowing M
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Gbenga Daniel: I joined APC because it offers many options Gbenga Daniel, a former governor of Ogun, says he joined the All Progressive Congress (APC) because the party “offers too many options”.Advertisement Daniel spoke on Monday when he was received.
Reps panel summons army chief, Emefiele over arms purchase A house of representatives committee has summoned Attahiru Ibrahim, chief of army staff (COAS), to clarify issues concerning arms purchase for the Nigerian army.Advertisement The ad hoc committee on arms.
Akeredolu: Promoters of Oduduwa Republic are politicians who lost power Rotimi Akeredolu, governor of Ondo, says the state will not secede from Nigeria, adding that the advocates of Oduduwa Republic are politicians who lost out on power.Advertisement Sunday Adeyemo, popularly.
Nigerian independent producer Heirs Oil & Gas Ltd. plans to restore an oil block acquired from Royal Dutch Shell Plc to its former output levels to make it one of the country’s biggest local operators.
Heirs finalized last month its purchase of an operating stake in a permit known as Oil Mining Lease 17 in a deal worth more than $1 billion. The transaction is the latest in which Nigerian firms have bought onshore or shallow offshore licenses from international oil majors that are reducing their exposure to risks associated with community relations and increasingly focused on developing deep offshore acreage.
“Our focus is to try to take this asset back to its peak production levels within a reasonable timeframe,” Heirs Chief Financial Officer Samuel Nwanze said in an interview. While Shell once pumped more than 100,000 barrels a day from OML 17, the block’s current output is less than 30,000, he said.
ANOH Gas Processing Co raises US$260 million to fund gas processing plant in Nigeria hydrocarbonengineering.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hydrocarbonengineering.com Daily Mail and Mail on Sunday newspapers.
Mon, 1st Feb 2021 14:37
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
Asiamet Resources Ltd - Indonesia-focussed copper and gold miner - Says it has received notice purported to be from largest shareholder, Aeternum Energy, requisitioning a special general meeting. The notice that has been received is not in a valid form and therefore directors are not required to act on it now, however it is apparent that our largest shareholder is seeking to take control of the company without fair and reasonable process or acquisition, Asiamet adds. This action immediately follows PT WIN, an Indonesian company owned by Aeturnum Energy, materially breaching the terms of a binding sale and purchase agreement with Asiamet for the acquisition of the company s KSK contract of work in Indonesia. Asiamet says seeking necessary advice , tells shareholders to take no action.