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After launching the company from his bedroom 10 years ago, Adam Frisby will be replaced as the Managing Director of fashion-retailer In The Style. ....
ADVFN surges as former director takes his stake to 18% A look at the major movers on the London market on Thursday ADVFN in focus on stakebuilding 2.14pm: Financial website in demand ADVFN PLC (LON:AFN) has seen its shares surge as a former director almost doubled his stake. The financial information provider has jumped 69.01% or 24.5p to 60p as Yair Tauman, a professor of economics at State University of New York, raised his investment from 9.44% to 18.31% Professor Taubman, a proponent of game theory, resigned as a director in 2014 due to the pressure of his academic and business commitments, and at the time he said: ADVFN is a great company and should do very well in the future to come. ....
Tullow Oil in demand after refinancing plans A look at the major movers on the London market on Thursday oil Tullow Oil PLC (LON:TLW) is one of the day s risers after it unveiled a refinancing. The exploration and production group has begun an offer of $1.8bn worth of senior secured notes due in 2026 and received commitments for a $500mln revolving credit facility and a $100mln letter of credit facility. The proceeds with be used to push out the timeframe for its debt obligations, including redeeming $650mln worth of senior notes due in 2022 and repaying $300mln of convertible bonds due this July. ....
Global Petroleum raises up to £2mln to fund Namibia prospect A look at the major movers on the London market on Thursday 10.55am: Explorer issues new shares and warrants Global Petroleum Limited (LON:GBP) is among the day s bigger fallers after it announced a placing to raise £1mln. Its shares have dropped 28% or 0.18p to 0.45p, which to be fair is the price at which 222mln shares have been placed. The company has also issued 111mln warrants at an exercise price of 0.9p a share for a period of two years with one warrant for every two ordinary shares. If exercised in full this would raise another £1mln giving total proceeds of £2mln at an average weighted price of 0.6p a share. ....