News

Activist investor Brian Myerson's Principle Capital has bought 48% of Dawnay Day Sirius Real Estate Asset Management, it was revealed today.

The rest of the business, to be renamed Principle Capital Sirius Real Estate Asset Management, will be owned 48% by Kevin and Frank Oppenheim, with senior managers owning the remaining 4%.

Jewellery maker Abbeycrest says its cost-base reduction programme is proceeding to plan and debt is still being reduced from last year's levels despite higher gold prices.

"Whilst our main markets remain challenging, sales performance to date is on plan," it said.

Provider of asset finance facilities to the small businesses, 1pm, has completed a placing 328m shares at 0.2p each to raise £656,500 before costs and expenses.

"The funds raised under the placing will increase the company's funding facilities which will enable the business to increase its market share, build its client base and accelerate growth," said the firm.

Independent film distributor Works Media has bought the multi-media UK distribution rights to three film titles following this year's Cannes Film Festival.

It snapped up Canadian rock documentary Anvil; The Story of Anvil and two horror titles. It has also bought the rights to a thriller called The Broken, which is expected to be distributed across the UK later this year.

Camera peripherals specialist Vitec has signed a new £125m five-year multicurrency revolving credit facility, replacing its existing £100m facility.