News & Tips: Hansteen, Mytrah Energy, Serco, Gulfsands Petroleum & more

December 24, 2013 by  
Filed under Wind Energy Tips

Equities are up again today as they promise to end the year on a high note.

IC TIP UPDATES:

Property company Hansteen Holdings (HSTN) has agreed to acquire a loan which is secured against a light industrial property portfolio for €41.7m, a 51 per cent discount. We keep our buy rating on Hansteen.

Indian wind power developer Mytrah Energy (MYT) has installed 150MW of wind assets so far across three sites which, when fully developed during the first quarter of 2014, will add an aggregate 238.2MW to its portfolio, taking the total to 548.1MW. Buy.

KEY STORIES:

Serco (SRP) has won a six month extension to two contracts with the Department of Immigration and Border Protection of Australia for the provision of detention services, which it has been running since 2009.

Hotels group Action Hotels (AHCG) has commenced trading on the Aim market today after raising £30.5m to fund development of its hotels group in the Middle East and Australia.

Gulfsands Petroleum (GPX) has bought the 30 per cent it does not own of the Chorbane Permit in Tunisia whilst also relinquishing its interest in two offshore permits in the same country. It has also farmed out part of its interests in two permits in Colombia.

Sirius Minerals (SXX) has secured a further memorandum of understanding for the sale of output from its proposed polyhalite mine in North Yorkshire. Chinese agricultural business Sichuan AMPC has agreed to buy 500,000 tonnes a year for 10 years, taking the total contracted sales to 4.28m tonnes a year, or more than 85 per cent of phase 1 production.

OTHER COMPANY NEWS:

Accsys Technologies (AXS), which has developed a sustainable wood technology, has confirmed approval of a licensing deal with Belgian chemicals giant Solvay which gives it the right to sell Accoya wood in most of the Council of Europe region. Solvay is also exploring the possibility of constructing a plant adjacent to Accsys’ facility in Arnhem, Holland.

Solid State (SSP) has reported a 22 per cent reduction in revenues and an 8 per cent fall in profits for the six months to September but also a record order intake of £16.6m and a record order book of £15.8m at the end of October. The company has also announced a placing to raise £2.54m to fund the acquisition of electronic components supplier 2K1.

READ MORE…

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