LONDON (ShareCast) - The resources investment firm Creon Resources is to raise 12.1m pounds from an open offer, with around 2.4bn shares up for sale at 0.5p per share, a 1.5p discount to the share price at the close yesterday. Jeswant Natarajan, Chief Executive Officer of Creon, commented: 'Today's announcement...is extremely positive news for Creon given its difficult historic trading performance since its inception, and provides the directors with a number of possibilities in executing its investment strategy in the oil and gas infrastructure sector.'

Drug firm SkyePharma says its development and marketing partners Kyorin Pharmaceutical has successfully completed phase III clinical studies in Japan for the flutiform asthma drug. The companies can now begin regulatory filing with the Japanese authorities on schedule. SkyePharma shares had risen 6% by 13:35.

Aircraft leasing firm Avation says it expects revenues for the 12 months ending on June 30th to come in around 30% ahead of the prior year at £21m, while aircraft assets will be at $218m, a 60% year on year rise. The stock was up 0.5% in afternoon trading.

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