Essential assets for July 16
Victoria Oil & Gas Plc announced that its 100% owned subsidiary, Gaz du Cameroun S.A., has completed connections and is supplying natural gas to three new industrial customers from its gas pipeline network in Douala. The connections include the new Dangote cement clinker plant located on the southern shore of the Wouri River, Douala. The construction of the 1.5 million tonnes per year clinker cement plant by Dangote is a reflection of the significant commercial growth occurring in the port-city, Douala, which is a major regional manufacturing and trade hub, with seaborne access and developed infrastructure. In addition, GDC is now supplying gas to New Foods, a food processing business owned by major conglomerate the Fokou Group, and Société Industrielle Camerounaise des Cacaos S.A., a subsidiary of Barry Callebaut, which are a Swiss-owned chocolate group and one of the world’s largest producers of cocoa.
Argex announced that as a consequence of recent market activity and conditions, it will not be proceed with the offering of Units under short form prospectus disclosed in its press release dated June 1st, 2015. As of June 10th, 2015, Argex had a balance of cash and cash equivalents of approximately $1 825 Million. Argex shall implement a new budgetary plan that includes cost cutting measures such as termination of employees, reductions in salaries and suspension of research and development activities allowing available funds to be specifically allocated to value creating activities. Argex is also considering its alternatives with respect to some or all of its mineral claims as an additional cost saving measure.
Aeris Environmental Ltd is pleased to announce it has received commitments to raise A$5 million through a placement of 10 million new Aeris shares at A$0.50 per share. The placement has been strongly supported by sophisticated and institutional investors in Australia, together with a significant cornerstone investment from a leading fund based in Hong Kong.
Finbar Group Limited is pleased to advise that the Company’s Toccata joint venture project has reached a stage of practical completion. The Toccata development is located at 88 Terrace Road in East Perth. It consists of 45 luxury three bedroom residential apartments in a 23 level structure and includes a full range of common amenities such as theatre, gym, pool deck and residents lounge. Finbar has secured sales of $73.7 million comprising 39 lots in the 47 lot $85.7 million project. It is anticipated that settlements will commence on 19 June 2015 with sales revenue from pre-sales expected to be a material contributor to Finbar’s second half earnings for FY15.
Finnair has been named Northern Europe’s Best Airline at the World Airline Awards at the Paris Air Show, for the sixth year running. Organised by Skytrax, the recognition is based on an independent survey of some 18 million travellers from more than 160 countries. At the same time, the oneworld alliance, to which Finnair belongs, was named Best Airline Alliance for the third straight time.
Yonder & Beyond Group Ltd is pleased to provide an update regarding Prism Digital, the agency connecting top technology talent with digital clients. The Company is pleased to announce that it expects to achieve its highest grossing quarter to date, with revenues in excess of $600,000 expected for the quarter ended 30 June 2015, continuing its rapid growth and boosting revenue recognised by Yonder & Beyond. The successful quarter comes off the back of the company continuing to develop relationships with top talent and influential IT and technology companies, as well as understanding the needs of businesses.
Argex Titanium, Inc., is pleased to announce the appointment of William White as Director of the Corporation. His appointment will become effective on June 25th, 2015. William White retired from DuPont in 2008 where he was a leader in numerous international business units during the course of his career. These included DuPont Titanium Technologies, DuPont Chemical Solutions Enterprise, and DuPont Safety Resources. He was appointed director of Business Improvement at the company's headquarters in Wilmington, Delaware, before being promoted in 2006 to president of DuPont Canada.