eirmoney | ISEQ and Company Update, 11-Dec-2009

ISEQ and Company Update, 11-Dec-2009

Posted by Senan Coleman | 11 December 2009

ISEQ Week Open: 2987.24, Week Close: 2926.26

Independent News & Media

Announces that it has agreed and completed the disposal of its 49% interest in Verivox Holdings Limited, a German online price comparator for energy and telecoms services, the VVX Investments Ltd.
Source: http://www.inmplc.com/investor-relations/news/inm-completes-disposal-of-49-interest-in-verivox/

Ryanair

Announces 2 new routes from Dusseldorf and 6 news routes from Brussels Charleroi.
Source: http://www.ryanair.com/ie/news

Tullow Oil

Tullow to farm out a 25% interest in French Guiana acreage to Total.
Source: http://www.tullowoil.com/tlw/ir/newsevents/rns/rnsitem?id=1260259203nRSH7258Da
Kosmos Energy, the operator of the Odum-2 appraisal well offshore Ghana, in which Tullow is a 22.896% partner, today confirmed the company's Odum oil discovery made in early 2008.
Source: http://www.tullowoil.com/tlw/media/news/2009/2009-12-08/

IFG

Announces that it has entered into an agreement to acquire the entire issued share capital of James Hay Holdings Limited from Santander Private Banking UK Limited for cash consideration of £35m plus an additional adjustable payment for net assets. James Hay is the largest UK provider of SIPPs with over 33,000 Self Invested Personal Pensions (“SIPP”) and over £8 billion SIPP Assets under Administration. The Acquisition is consistent with IFG’s strategy to develop scale in its pensions administration and advisory business. The well recognised James Hay brand will be adopted by the combined business. A transformational transaction for the Group and brings scale to both divisions of the group. The Acquisition is expected to be earnings enhancing.
Source: http://www.ifggroup.com/article-proposed-acquisition-and-placing-and-open-offer-to-raise-approximately-€50-million-51.html

CRH

CRH plc has received notification from the Polish Office for Competition and Consumer Protection ("OCCP") that, arising from an investigation conducted by it since mid 2006 into the Polish cement industry, it has concluded that 7 companies including CRH subsidiary Grupa O?arów S.A. were involved in anti-competitive practices. CRH is not commenting on the issue.
Source: http://www.crh.ie/crhcorp/media/press/2009/2009-12-10/

Zamano

Announces the placing of over 13.8 million new shares with Ulster Bank Diageo Venture Fund. The money raised will be used to fund the company’s investment in smartphone application development and to take advantage of the growth of mobile advertising in emerging markets. In addition, an element of the funding will be used to pay down bank debt, thereby strengthening the company’s balance sheet.
Source: http://www.zamano.com/Press/Default.aspx

Kingspan

Announces it has acquired Australian company AIR-CELL Innovations. AIR-CELL, which had sales of A$23m in the year to June 2009, is a market leading distributor of flexible reflective insulation foil products. The company, which has its headquarters in Perth, Western Australia, has an inter-state presence across the Australian market. The acquisition of the business and its comprehensive route to market adds a new product to Kingspan's product portfolio, as well as presenting further opportunities to enhance Kingspan's existing insulation board sales in the Australian and New Zealand markets.
Source: http://www.kingspan.ie/kingspangroup/media/news_features/nf2009/2009-12-11/