Colin La Fontaine Jackson is a non-executive director who will, so to speak, help Ted Baker maintain an arms length relationship with Kelvin, who still holds 11.8% of the fashion firms shares.
READ Ted Baker announces new CEO to replace Ray Kelvin and overhaul of policies after "forced hugging" claims
A new relationship agreement between the company and Kelvin has been signed that “brings the benefits of access to Ray's unique brand experience and insight, while at the same time introducing clear guidelines that will ensure board independence is maintained,” the company said.
3.00pm: Alien Metals shareholders over the moon with share price rise after CEO appointment
Brodie joined the company as technical director in July 2019 and has been involved in the companys technical and corporate activities since then.
“By appointing Bill as the CEO, the company is essentially formalising the role Bill has been fulfilling,” said the companys chairman, Dan Smith.
2.00pm: Kodal the top riser in London
The two parties have signed a memorandum of understanding to work together to develop the Bougouni lithium project in southern Maili.
Sinohydro is a subsidiary of state-owned PowerChina. It has undertaken a number of large and high-profile engineering and construction projects in Mali and continues to be active in large government infrastructure projects and private commercial developments.
1.10pm: AA shareholders left waiting as bid deadline is extended
The group announced about a month that three potential bidders – two of them working in tandem – were sizing up the company with a view to possibly making a bid, which triggered a “put up or shut up” deadline of 5pm today but that deadline has been extended by four weeks.
Discussions with each of the potential offerors have continued to progress and their due diligence is ongoing, the AA said.
12.05pm: Wizz Air loses altitude as it scales back capacity forecast
The low-cost carrier initially estimated to work at 80% capacity in its fiscal third quarter, which ends in December.
The new forecast is based on renewed travel restrictions imposed across Europe and in Hungary in particular.
11.00am: Bisichi slides into the red as pandemic hits global coal demand
Bisichi PLC (LON:BISI) shares lost 16% of their value at 54.5p after the coal producer slipped into a half-year loss.
The loss before tax in the first half of 2020 was £2mln versus a profit of £4.3mln in the same period of 2019.
The group said its results reflect the challenging period due to the impact of the coronavirus 19 pandemic and the related downturn in international coal markets.
10.00am: Saga to continue as an independent entity
Roger De Haan, son of the founder of the over-50s holidays and insurance specialist, has committed to investing up to £100mln, of which £60.6mln will be invested at a premium price.
The troubled company said over the weekend that it had received an “unsolicited and highly conditional” 33p-a-share takeover approach from a pair of US private equity firms but it has opted to remain independent, with the financial backing of De Haan, who can probably well afford it as he sold the company for £1.35bn some 16 years ago.
9.00am: Cambridge Cognition and Location Sciences both surge on contract wins
Cambridge Cognition PLC (LON:COG) shares surged 19% higher to 47p in early trade on Tuesday after it bagged a £2mln deal for three late phase schizophrenia trials.
The contract, with a pharmaceutical company, is one of the largest single contracts secured by Cambridge Cognition. The revenue from the contract should be booked over the next four years with the majority recognised in 2021.
InMarket, the specialist in 360-degree consumer intelligence and real-time activation, has signed up for the service, which will allow InMarket to offer its customers independently verified audience segments.
The Verify third-party seal of quality, ensures InMarket's customers have a high level of confidence its target audiences will be reached and differentiates its product in a highly competitive marketplace, Location Sciences said.
Proactive news headlines:
Kodal Minerals PLC (LON:KOD) has lined up a collaboration agreement with Chinese engineering firm Sinohydro to work on the companys Bougouni lithium project in southern Mali. The two parties have signed a memorandum of understanding (MoU) to work together to develop the project. Sinohydro is a subsidiary of state-owned PowerChina. It has undertaken several large and high-profile engineering and construction projects in Mali and continues to be active in large government infrastructure projects and private commercial developments.
Location Sciences Group PLC (LON:LSAI) revealed it has signed up the first customer to its Verify Audience platform. InMarket, a US company specialising in consumer activity intelligence, will use the marketing tool to verify local audiences and campaigns across different media channels. Verify allows brands, agencies and suppliers to validate the real-time locations of mobile devices as digital advertising campaigns are delivered.
AFC Energy PLC (LON:AFC) revealed it has secured a contract for the sale of a bespoke 100 kilowatt H-Power alkaline fuel cell system to Forschungszentrum Jülich, one of Europes largest research centres, for deployment at its Living Lab Energy Campus (LLEC) showcase in Germany. The AIM-listed hydrogen power technology specialist said the initial transaction value of the deal also comes with additional trailing payments receivable under a long term services agreement over the life of the project. The LLEC is funded predominantly by the German government and is designed to provide a blueprint for sustainable, decentralised and integrated smart infrastructure with an emphasis on renewable and hydrogen technologies.
CentralNic Group PLC (LON:CNIC) has reported higher earnings and “record organic growth” in the first half of its current year despite the coronavirus pandemic. For the six months ended June 30, 2020, the internet domain name specialist reported adjusted underlying earnings (EBITDA) of US$15.1mln, up 64% year-on-year, while revenues surged by 124% to US$111.3mln. The company said it has seen “healthy demand” for its two largest service lines, wholesale domains and monetisation, during the period, with the latter driven by the rollout of its patented monetisation solution for secure socket layers (SSL), protocols for web browsers and servers that allow for the authentication, encryption and decryption of data sent over the internet.
Eden Research PLC (LON:EDEN) said its collaboration partner has won authorisation from the Spanish authorities for the biopesticide, Cedroz. The product, which has been developed to tackle infestations of microscopic, soil-dwelling parasites called nematodes, has been approved for both glasshouse and open field uses on tomatoes, cucumbers, zucchini, pumpkins, strawberries and melons, as well as glasshouse use on peppers and aubergine. It will be sold by the Eastman Chemical Company and is Edens second crop protector to receive the regulatory green light in Spain. A key territory, the country is the largest producer of fruit and veg in the EU.
Frontier IP Group PLC (LON:FIPP) has said one of its portfolio companies is to launch a patent reader product commercially. Elute Intelligence Holdings Limited, in which the intellectual property commercialisation specialist has a 43.5% equity stake, is to bring the product to market after a successful pilot with a dedicated user group comprising members from multinationals, high-tech small and medium-sized enterprises and professional intellectual property service providers. The patent reader allows users to identify relevant patents and understand why they are relevant within minutes of starting a search.
BlueRock Diamonds PLC (LON:BRD) said a 12.12-carat diamond recovered from its Kareevlei diamond mine in South Africa in July has been valued at US$104,000. "This is our fifth diamond recovered with a value of above US$100,000. Now that we are operating in pure Kimberlite again following the development of KV Main we expect an increasing incidence of higher value diamonds", BlueRock executive chairman Mike Houston said in a statement.
Immotion Group PLC (LON:IMMO) said trading has “continued to be encouraging” across its sites that have operated over the summer period. In a trading update, the out-of-home virtual reality firm noted that it currently has 16 partner sites operating its attractions, and has also traded at four of the ImmotionVR sites throughout the summer. The ImmotionVR sites have all traded strongly and have generated a profitable contribution despite limited opening times, the company said, noting that whilst visitor numbers are “generally down” in its partner sites due to coronavirus-related restrictions, average revenue per headset has been “encouraging” despite the lower footfall.
Avation PLC (LON:AVAP), the aircraft leasing company, has played down the impact of Virgin Australia going into administration. Avation had a total of 13 aircraft on lease to Virgin Australia when it entered administration. These included six ATR72-500 aircraft, five ATR72-600 aircraft and two Fokker 100 jet aircraft. Since the airline went into administration, Avation said it has entered into new lease arrangements for five of these aircraft, including finance leases for the sale of the two Fokker 100 aircraft, operating leases for two ATR 72-500s with a new airline customer in Australia and a five-year operating lease for an ATR72-500 aircraft with a new airline customer in Asia. The three remaining ATR72-500s have been returned to Avation and are now undergoing maintenance.
San Leon Energy PLC (LON:SLE) has agreed to a new US$7.5mln investment into the Oza oil field, in Nigeria, via a loan agreement with Decklar Petroleum, a subsidiary of Asian Mineral Resources (CVE:ASN). Decklar has a risk service agreement with Millenium Oil and Gas, giving it a majority share of production and cash flow from the Oza field – which was historically operated by Shell, between 1959 and 1974, albeit despite two periods of extended production tests it never reached commercial-scale production. The agreement sees San Leon take a 15% interest in Decklar initially, potentially rising to 30% with a further subscription alongside the subsequent funding. San Leon will be allocated one seat on the board of Decklar.
Metal Tiger PLC (LON:MTR) said it has invested around £165,000 for a 0.5% stake in Canyon Resources Limited (ASX:CAY), an Australian-listed firm focused on developing the Minim Martap bauxite project in Cameroon. The AIM-listed investment company said it subscribed for 3mln shares in Canyon at A$0.10 each as part of Canyons fundraise of A$10mln. In a separate announcement, Metal Tiger also said it has signed a binding commitment to invest a further A$150,000 (£82,748) in Pan Asia Metals Limited, taking its total commitment to A$650,000 (£358,576), for 3.25mln new shares at A$0.20 each as part of Pan Asias proposed initial public offering (IPO) on the ASX. Assuming Pan Asia raises the maximum contemplated amount of A$6mln (£3.3mln) through its IPO, Metal Tiger said it will hold just over 8% of the company on admission to the ASX.