Risers and fallers – 10/01/14

Risers: 

Perform Group +5.09%

Sport content provider, Perform Group, has today revealed that their Chief Financial Officer David Surtees is to step down on Jan 31. The company has not revealed a successor to Mr Surtees at present. 

Churchill China +15.63%

Churchill China, a ceramics manufacturer, has today said it believes its performance will be ahead of market expectations off the back of strong trading throughout November and December 2013 from its hospitality sector. 

Cineworld Group +4.94%

UK theatre group, Cineworld, has today revealed it has acquired Cinema City International for £272m and 24.9% of Cineworld’s shares. The value of Cinema City International is approx. £503m with the 24.9% of Cineworld’s shares funding the remaining amount. Once both combined, it will create the second largest cinema company in Europe.

Fallers: 

Kodal Minerals -29.87%

Mining and exploration company, Kodal Minerals, has today said it has raised £1.25m via the placing of 100 million new ordinary shares at 1.25p each. The funds raised will be used to speed up a work programme which is already in place by improving the work base on the site and also to invest further to progress its Norwegian planning process. 

Gulfsands Petroleum -9.79%

Oil and gas specialists, Gulfsands Petroleum, have today reported they will plug and abandon its ‘Ben Fidal 2’ well in Morocco. The well was drilled to a total depth of 1025 meters and it showed significant levels of gas. 

Kea Petroleum -9.41%

Kea Petroleum has today revealed they have entered into an agreement with Darwin Strategic Ltd for a £6.2m financing deal. The have agreed to issue up to £1.2m of convertible loan notes and also an equity finance facility of £5.0m.