The Morning News Update with British American Tobacco, Serco and Blinkx

FTSE 100

British American Tobacco (BATS) – subsidiary Imperial Tobacco Canada has reached an agreement in principle with The Flintkote Company – a U.S. company formerly engaged in the production and sale of asbestos-containing products – for a total of US $575 million for claims related to certain disputed dividends and existing and potential asbestos claims.

Smiths Group (SMIN) – Philip Bowman has given early notification of his intention to retire as Group Chief Executive on 31st December 2015

FTSE 250

Keller (KLR) – expects that the full year results will be in line with current market expectations.

Serco (SRP) – the City of London Police that it has concluded its investigation into the Prisoner Escort & Custody Services (PECS) contract. There was no evidence to support bringing charges against staff or Serco. 

Berensen (BRSN) – Since the Interim Management Statement of 31st October the group has traded in line with expectations.

Small caps

Orosur Mining (OMI) – reports gold production of $12,854 ounces for the quarter to November, remains on track to deliver full year guidance of 50,000 – 55,000 oz at a cash operating cost of $850 – $950/oz.

Accumuli (ACM) – has acquired the entire issued share capital of RandomStorm Limited for net cash consideration of £8.9 million. RandomStorm is a UK based integrated information security specialist. 

Progility (PGY) – has agreed to acquire Unify Enterprise Communications Private Limited for a total consideration of €1 million in cash from the Unify Group. Unify India is a systems integrator and independent solution provider specialising in communications infrastructure, applications and services for enterprise customers.

Blinkx (BLNX) – has entered into an agreement to acquire AdKarma, a leading video supply side platform, for an initial consideration of $15m in cash plus an additional $5m in cash or stock at the company’s option.