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Monday's most followed, including FirstGroup, Vatukoula Gold Mines and Xcite Energy

Published: 20:57 20 May 2013 AEST

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Transport group FirstGroup (LON:FGP) plummeted on Monday - losing over 20% - as it launched a massive discounted rights issue to shore up its balance sheet.

The company was one of the most hotly searched topic on web pages as the week began and was the most popular news story on Google Finance.

Meanwhile, chairman of the bus operator Martin Gilbert stepped down after leading the firm for nearly three decades on news of the issue, which comes at a 62 per cent discount to Friday's closing price.

The company announced no final divi in its full year results, which showed revenue up 3.3% to £6.9bn from £6.7bn the year before, and underlying profit before tax down 36.5% to £172.4mln from £271.4mln the year before.

Also making waves this morning was North Sea oil developer Xcite Energy (LON:XEL) whose shares rose over 10% as it revealed it will strengthen its already solid financial position with the sale of technical well data from its Bentley Field for £10mln.

The company was also the most read stock exchange statement.

Once the binding agreement with the unnamed buyer is completed the cash will be added to £20.4mln the group had on the balance sheet at the end of March.

Not surprisingly, the  company was one of the most  actively discussed across the bulletin boards today, along with the ever popular Gulf Keystone Petroleum (LON:GKP).

Also gaining traction on the boards was potash developer Sirius Minerals (LON:SXX), which is hoping to get its flagship York project in the UK into development.

Today, it updated on the latest from the planning process - saying objections had been received from the Environment Agency and Natural England.

The firm said it was confident that these would be dealt with through conditions placed on any approval for the project and its experts along with the two organisations would be having detailed discussions to seek a solution before the planning determination meeting on July 2 this year.

Sirius shares gained 2% after the news was released.

The most actively traded stock was Motive Television (LON:MTV) which saw over 443 million shares change hands. Solo Oil was the second most active stock with over 140 million shares changing hands.

Also popular on today's web wires was Aminex (LON:AEX), which has revealed that it is still in talks with interested parties over a farm-out deal of its Ruvuma basin prospects in Tanzania.

The company has a 75% stake in the production sharing agreement, with Solo Oil holding the remaining 25%. The duo are trying to sell their interests in the highly prospective basin, which is near the massive offshore gas field development projects in East Africa.

Vatukoula (LON:VGM) shares raced up 80% after it emerged a Chinese oilfield services group is to take an almost 20% stake in the company at a substantial premium to the current share price. 

SCD Energy, a subsidiary of DRK Energy, has subscribed for 30mln shares at 15p that will raise £4.5 mln and give it 19.2% of the Fiji-based gold miner.

SCD will also be able to appoint its own director as chief operating officer once a suitable candidate has been identified.

The company also made the top ten of most-read statements today.

 

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