John Laing Group (JLG) shares gained 15.99% to 368.5p as it confirms talks for takeover
In response to its share price movement, the company issued a statement this afternoon in which it confirmed that it is currently in discussions with KKR & Co. regarding a possible offer by KKR for the entire issued and to be issued ordinary share capital of John Laing.
It said there can be no certainty that any firm offer will be made nor as to the terms of said potential offer. The firm told shareholders that they should take no action at this time.
Bacanora Lithium (BCN) shares soared 25.56% to 56.5p as it receives takeover offer
The lithium development and exploration group said it has received an offer from its major shareholder, Ganfeng International Trading, to buy it out at 67.5p a share. Ganfeng holds a 29% stake in Bacanora and a 50% stake in Sonora, the miner’s lithium deposit in Mexico.
The Shanghai-based group said it would offer 67.5p a share, representing a 45% premium to the closing price on Wednesday afternoon and valuing Bacanora in total at £259 million.
The Bacanora Independent Directors said in today’s statement that they view the possible offer as ‘an attractive proposal’ which they would expect to recommend to shareholders.
Mkango Resources (MKA) shares jump 17.82% to 30.75p following recent positive results
On Tuesday, the Company said that recent results from its flotation pilot plant programme had proven effective in scaling up a new, optimised flotation regime for the Songwe Hill Rare Earths Project located in Malawi of which the Group holds a 51% interest in.
Mkango is developing the 51% owned Songwe Hill rare earths project in Malawi with the ongoing Feasibility Study funded through a £12m investment by partner, Talaxis Limited.
The results showed an increase in flotation recovery of total rare earth oxides ("TREO") to 74% from 67% and a tripling of flotation concentrate grade to 15% TREO from 4.7% TREO.
It said the results position it as one of the few companies outside China with an advanced stage project positioned to supply the critical rare earths essential for a green transition.
Clear Leisure (CLP) shares rose 20% to 2.7p as it passes all resolutions in GM
Shares in the investment company soared as high as 30% on Thursday after the group told investors that resolutions put to shareholders at today’s general meeting were duly passed.
It outlined that its main resolutions included a change of name to ‘Quantum Blockchain Technologies’ as well as a shift in the company's investment strategy going forward.
The group said it will commence trading under this new name from tomorrow morning.
Trainline (TRN) shares fell 6.35% to 421.8p as annual sales fall as a result of COVID-19
In its results for the year ended 28 February 2021 the online train ticket retailer reported a fall in sales and a loss for the 2021 financial year as a result of the COVID-19 pandemic.
The company reported a pre-tax loss of £106.8m in FY21 compared to £80.2m in FY20. Meanwhile, revenue fell about 26% of the prior year’s £261m to £67m for the 2021 year.
In its statement, the group told investors that it has begun to see the first signs of recovery with UK Consumer net ticket sales stepping up in 1Q22. It believes this sign of recovery means it is well placed to lead the shift to online and digital ticketing as conditions improve.
“We are keeping our foot on the accelerator, improving the customer experience and launching new products across our markets. "Looking ahead I feel very confident about Trainline's prospects for the future,” commented Jody Ford, Chief Executive of Trainline.