LONDON (ShareCast) - Aircraft spares supplier Aero Inventory said sales for the first four months of the year are more than 80% higher from last year, driven by contribution from the Qantas contract.
“With Aero Inventory's business much enlarged by the Qantas and ACTS contracts, a particular focus for the current year is to increase the efficiency with which we use our stocks,” said the group.
Aero also announced that it proposes to implement a Long Term Incentive Plan to provide a substantial incentive to its management team to maximise growth opportunities.
Oil and gas group Indago Petroleum has appointed David Bremner as chief executive with immediate effect.
Martin Groak, who has been acting chief executive, will revert to his former position as chief financial officer.
“Having worked closely with Indago since the time of the IPO two years ago, I am well acquainted with the company's assets, partners, shareholders, staff and directors. I very much look forward to delivering the remainder of the drilling programme on the company's existing Omani portfolio and working with the team to develop new and material opportunities for the future,” said David Bremner.
Heating solution provider Inditherm announced that Nicholas Bettles has been appointed as new chief executive after Richard Harpum resigned with immediate effect.
Bettles was previously the divisional director for the group’s medical division.
Aim-listed Intellego, a company which produces computer-based work training programmes, has acquired e-learning business Copia.
Intellego said it acquired Copia, for £65,000 payable in shares plus £25,000 in cash on completion. Intellego will also take on £51,000 of Copia’s debts.
Speaking about the acquisition, Intellego’s group managing director Andy Green said: “We are delighted to have made this acquisition. We believe that it will have a positive impact on the enlarged company and add significant value to our customer offering.”
Nutraceutical company Provexis narrowed its half-year pre-tax loss to £661,221 from £758,148 last time and said the outlook for the business is promising.
“We have invested significant effort into identifying potential technology acquisitions for our pipeline and expect to report further progress in the coming weeks,” said chief executive Stephen Moon.
Hybrid engine technology business Traction Technology signed a Memorandum of Understanding with bus and coach manufacturer The Optare Group to develop a range of single deck series hybrid vehicles for the UK bus market.
It is planned to produce the first prototype vehicle by Spring 2008.
Frontier Mining rose after it received confirmation that its Benkala copper project subsoil use contract has been registered by the Ministry of Energy and Mineral Resources of Kazakhstan.
"This was the final step in the government of Kazakhstan's approval process and confirms the ownership interest in Benkala of the joint venture company in which Frontier has a 50% interest," said the group.
Berkeley Resources said results of an upgraded resource calculation for the flagship Salamanca I project, which includes the Retortillo deposit and the Santidad discovery, rose by 42% to 16.9m lb of uranium.
KP Renewables confirmed press peculation that it was in negotiations with a third party over a possible reverse takeover. "Accordingly the shares are suspended from trading on AIM pending a further announcement," said the group.
Cluff Gold said it is on-track to progress from being an explorer to a producer by the first quarter of 2008. The group said it expects combined projected annualised gold production of 100,000 ounces. It also announced that it planned to list on the Toronto Stock Exchange in the first half of 2008.
Pantheon International Participations said NAV per share increased by 7.3% over the quarter to 30 September.
