News

Regal Petroleum has raised £20.5m through a placing of 8.4m new shares at 245p, a premium to yesterday's close. The placing represents approximately 4.1% of Regal's shares.

Mobile Doctors Group suspended trading in its shares after it signed heads of agreement for the acquisition of a rival in the medical legal reporting industry that will double it size.

MDG did not name the target, but said its acquisition would result in significant cost reductions. A new company, Mobile Doctors Holdings, will undertake the takeover, which will enable Venture Capital Trust and EIS investors to participate in a placing to fund the deal.

Welsh anthracite miner Energybuild reports profits for the year to June will meet expectations aided by increased volumes of production from its drift and opencast mining operations and higher coal prices.

"We now look forward to further increasing production over the next twelve months to take advantage of the favourable market conditions that prevail at present," Energybuild chairman Colin Cooke said.

Falkland Islands-focused oil group Rockhopper is still undecided on the best way to fund development of its South Atlantic acreage. "The board's target is to drill between two and four wells on our acreage. We are keeping our options open with regard to how those wells are financed, the options being to farm out, or raise equity or a combination of the two," chairman Pierre Jungels said. Losses for the year to March were little changed at $1.47m.

Caza Oil has signed an exploration agreement with Wise Oil & Gas No. 8, Ltd. Caza, which will be the operator, and Wise will jointly and exclusively lease acreage in Lea, Eddy and Chaves counties of southeast New Mexico on a 50/50 basis. The agreement provides that Wise put up a minimum of $10m for leasing over the next 2 years.

Gaming group AsianLogic saw average daily casino turnover increase by 34% in the six months ended 30 June to $14.6m and said it is very positive about its prospects.

The group also announced today that Thomas Hall, currently the executive vice chairman, will assume the role of chief executive with immediate effect to replace Christopher Parker who continues as a director and takes up the new position of chief executive of the Asian Poker Tour.

"Operating margins in 2008 have so far seen an improvement when compared to 2007, although AsianLogic anticipates lower levels of profitability in some sectors of its online casino activities, due to margin pressure, similar to that faced by land based Asian casinos working with casino junket groups and agents," said the group.

"The company does not believe that these margin pressures will significantly impact overall business and the company remains very positive on figures for the full year," it added.

AFC Energy saw post-tax losses widen to £1.14m in the six months ended 30 April compared with £0.52m last year but the clean electricity group said its outlook is 'very promising'.

"The company is now in a strong position to take advantage of the opportunities created by hydrogen-producing industries that are looking to drive down their energy costs," said the group.

Baltic Oil Terminals, which operates facilities in the Russian exclave of Kaliningrad, expects trading and terminal revenues for the second quarter of 2008 to exceed the first quarter by 19% and 8% respectively.

The group said its performance in June has been particularly strong, with trading and terminal revenues estimated to exceed average monthly year to date revenues by more than 100% and 60% respectively.

Shares in XSN rallied after the AIM-listed cash shell announced the reverse takeover of MarineTrack The all-share deal values MarineTrack at around £1.475m.

In a separate statement, XSN said it narrowed pre-tax losses to £351,000 in the year ended 31 December compared with £10.6m last time.

Shares in Wagon rose after the automotive component firm said the underwriters of its delayed rights issue will extend the admission date requirement.

CCTV security firm Vigilant Technology narrowed pre-tax losses to $7.36m in the year ended 31 December compared with a loss of $10.26m.

The group said its shares will remain suspended until the working capital position is clarified and the company's annual report and accounts receives its audit report and is sent to shareholders.

"The company is currently working on a solution to the working capital issues that it faces and expects to make a further announcement within the next few days," it added.

Five-a-side football group Goals Soccer Centres said trading for the half year finished in line with expectations.

"The directors are pleased with the progress that the company is making and are confident of delivering another excellent result in the current year," said the group.

Higher revenues at Millbrook Scientific Instruments helped the measuring instrument supplier post sharply narrower losses in the year to March 31.

Revenues rose to £2.5m from £1.9m, helped by buoyant demand for NanoTest instuments, which are used to measure nanoscale properties of thin films and coatings. Pre-tax losses narrowed to £83,000 from £481,000.

Sepura said it is not aware of any reason for today's share price movement after the digital tetra radio provider closed 30% lower.