LONDON (ShareCast) - E-commerce group ArgentVive said it has received an approach from deputy chairman Charles Denton for a possible offer.
"The board understands that, in seeking to make an offer for the company, it is Mr Denton's objective and intention to take the company private," it said.
The group said it has given permission for Denton to explore opportunities to make an offer. It confirmed though that no offer has been received as of yet.
IAF Securities has resigned as joint broker to ArgentVive and will be acting for Denton in connection with any offer.
Shares in Timan jumped after a court in Moscow dismissed an appeal by the Russian Federal Subsoil Agency (Rosnedra's) and upheld a ruling that found in favor of the oil explorer.
In its decision the Court upheld the Arbitration Court's ruling that Rosnedra's internal order to Kominedra (to revoke the extension of Timan's exploration and production licence for the Nizhne-Chutinskoye field in Timan Pechora) was unlawful and should be annulled, it said.
Mobile phone payments company e-pay Asia saw profits for the year slump to A$1m against A$7.6 last year as revenues fell to A$14.3m from A$19.3m in 2006.
The group said the revenues slump was due to closure of its Indonesian operation and lower software licences sales.
"While this has been a challenging year, we believe the company now has the team and the structures in place to drive the business forward in 2008, it said.
Interim losses increased at fuels cells specialist Ceramic Fuel Cells, but the group says its plans of commercialising fuel cells remain on schedule.
Losses in the six months to end December rose to £4.4m from £3.7m on sales of £0.8m compared with £1.1m. Cash at the half-year totaled £22.1m.
Velosi, which provides assurance and control services to the oil and gas industry, said trading is in line with market expectations for the year to December 2007.
As a result of the high number of significant contracts won in 2007, recent new contract wins, and with synergies and returns from recent acquisitions coming through, the board remains very positive on the group's trading outlook for 2008 and beyond, said the group.
Low power microdisplays provider MicroEmissive said it is still on track to be profitable on a month on month basis during the second half of 2008. Turnover for the year to December was £65,000 from £31,000 last year with losses almost flat at £6.2m.
Glass protection firm Pentagon Protection has been awarded a number of contracts, to apply its glass containment window film and edge-retention system, worth a total of £136,000.
