AIM-listed Action Hotels (LON:AHCG) saw its shares rise by 31.94% to 21.11p after the company agreed a potential all-cash offer with it’s largest shareholder. Under the terms of the agreement, shareholders would be offered 24p a share, which represents a 50% premium over yesterday’s closing price.
FTSE 250 infrastructure specialist John Laing (LON:JLG) said that it still pans to invest £250 million in the current financial year, despite only managing £40 million in the first half.
Outsourcing specialist Serco has said that it expects to report first half revenues of £1.35 billion, down from £1.51 billion in the same period of last year due to contracts terminating in 2017 and currency movements.
FTSE 250 hydrocarbon outfit Tullow Oil has upgraded its full year production guidance for its working interests to 86,000-92,000 barrels of oil equivalent per day and said that they expect to report revenues of $0.9 billion (£0.69 billion) for the first six months.
Transport operator Stagecoach saw its full year revenues drop by 18.1% to 3.2 billion for the 12 months ended 28th April, after the company’s contract for the South West Trains rail franchise ended last August.
Respiratory drug discovery specialist Synairgen saw its shares climb after the company announced positive developments from phase II trials for a antiviral treatment for chronic obstructive pulmonary disease.
FTSE 250 defence specialist Ultra Electronics said that group performance for the first half of the year has been broadly in line with market expectations, but warned about continued cost overruns at its US-based Herley subsidiary.
FTSE 100 hospitality company Whitbread posted some positive headline sales growth figures for the first quarter of the current financial year, with Costa Coffee up by 5.2% and Premier Inn UK rising by 2.5%, but like-for-like figures showed drops at both chains.
Shares in low-cost African airline Fastjet (LON:FJET) plunged by 71.94% to 4.30p at 1345 BST after the company announced that it was seeking additional funding due to its current cash position.
Specialist building materials producer SIG has agreed to sell its VJ Technology subsidiary to UK private equity outfit Primary Capital for an expected consideration of £29.7 million.
