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Investor Update: Eco Atlantic's Jethro Lobe drill ship mobilised

Top stories from the Proactive Investors UK newsroom.

The drill ship being used for Eco Atlantic Oil & Gas Ltd’s (LON:ECO, CVE:EOG) keenly awaited well on the Orinduik Block offshore Guyana is now en route to the site. The Stena Forth is expected to arrive around the 24th of June and spud the Jethro Lobe prospect soon after.

The chairman of Woodford Patient Capital, the closed-end investment trust run by embattled fund manager Neil Woodford, says it is monitoring closely the situation at Woodford’s equity income fund.  Woodford Patient’s share price has plunged since trading in the equity income fund was halted as they have numerous portfolio companies in common.

Housebuilder MJ Gleeson’s (LON:GLE) chief executive Jolyon Harrison has stepped down with immediate effect after seven years in charge. Gleeson said that extensive discussions with Harrison regarding his remuneration and succession planning had not brought a solution and the board concluded that it was not possible to find a mutually acceptable basis for him to continue as CEO.

Digital marketing group Be Heard Group PLC (LON:BHRD) has made a strategic investment of £320,000 for 20% of consultancy firm Digital Delivery Consulting, known as 3pointsDigital.  Be Heard said the new business revenue generated by 3PD since May had already exceeded its cash investment.

Rainbow Rare Earths (LON:RBW) says financier Lind Partners is to convert all of its outstanding US$900,000 loan with the group into equity. Rainbow intends to issue a third of the shares now and the rest in the coming months accompanied by a  prospectus. Shares in Rainbow have soared since China brought rare earth metals in to trade talks.

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