How the enigmatic Bramson won investors’ trust

first_img whatsapp Share KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionHero WarsThis game will keep you up all night!Hero WarsThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeBrake For ItThe Most Worthless Cars Ever MadeBrake For It Tags: NULL whatsapp Thursday 3 February 2011 8:19 pm How the enigmatic Bramson won investors’ trust SHAREHOLDERS’ decision to put Sherborne Investors in charge of F&C Asset Management’s board yesterday resolved six months of tension. The question now is whether new chairman Edward Bramson can relieve the uncertainty that has dogged F&C for years. Bramson, who made a rare public appearance at yesterday’s meeting, is an enigmatic figure who has remained silent in the face of calls for more information.F&C’s board grounded its case against Bramson in his refusal to articulate an alternative strategy for the company.In person yesterday Bramson, slight of build and softly spoken, was just as quiet. Shareholders present were confused and angry at his repeated refusal to step forward to justify his experience or plans for F&C to attendees. Instead, he spoke only a few words about the board nominees.But F&C’s new chairman has clearly won the trust of its biggest institutional shareholders, who were notably silent throughout the noise of yesterday’s meeting.Sources told City A.M. the Sherborne delegation was seen in a Starbucks close to the meeting earlier that morning, congratulating Bramson on his success in the vote before the meeting had even begun. David Lis of key F&C shareholder Aviva Investors, said: “We are extremely pleased with the strong level of support for Sherborne and look forward to continued engagement with the F&C board and the realisation of the inherent value we believe exists in this company.”The result is a deep disappointment for F&C’s former chairman Nick MacAndrew (pictured, far left). The former Schroders finance director had chaired F&C since 2007 and is a non-executive at insurance broker Jardine Lloyd Thompson, pub landlord Fuller and construction group Wates. MacAndrew had urged caution over returning F&C to another period of instability after its experience de-merging from Friends Provident.It will also be a blow to chief executive Alain Grisay (pictured, near left). The charismatic Frenchman had hit out at Sherborne, warning that F&C could go under if not properly managed. But MacAndrew quipped yesterday that despite all of his issues with Bramson, “I can’t fault his timing.” After all, he said, the market valuation of a company tends to lag its internal issues. F&C’s valuation may be low, but it is internally solid enough to yield good growth – the ideal time for a new chairman to step in. Show Comments ▼last_img read more

Phumelela creditors accept rescue deal, snub Betfred

first_img Regions: Africa Southern Africa South Africa Finance Subscribe to the iGaming newsletter Topics: Finance Sports betting Creditors of stricken South African horse racing operator Phumelela have voted to accept a business rescue deal from Mary Oppenheimer Daughters (MOD), effectively rejecting a takeover bid from British operator Betfred. Creditors of stricken South African horse racing operator Phumelela have voted to accept a business rescue deal from Mary Oppenheimer Daughters (MOD), effectively rejecting a takeover bid from British operator Betfred.The business rescue plan will the operator sell its racetrack business and its assets as well as Phumelela Gold International, its joint venture with tote betting operator Gold Circle, to Mary Oppenheimer Daughters, an organisation run by the family of the late industrialist Harry Oppenheimer.Under the deal, creditors Rand Merchant Bank (RMB) and Investec would receive 100% of debts owed, while other creditors would receive  ZAR242.0m, or 72.2%, of the ZAR335.0m owed. An additional ZAR100m would be available for shareholders.The creditors “voted overwhelmingly in favour” of the deal in a “large majority vote”, despite the presence of a bid from Betfred to purchase the entire Phumelela business. Betfred said this deal, worth between ZAR875m and ZAR925m, would “result in all creditors being paid 100% of their claims”.MOD, however, noted that the Betfred deal was not a binding offer, but rather proposed “good faith negotiations” to enter into an agreement.“This is, in effect, an agreement to agree, with final terms yet to be negotiated,” it said.In addition, it said the short time frame offered to creditors to accept the bid and negotiate the terms was “naïve, optimistic and commercially unrealistic”.“The fact that Betfred has failed to get beyond a non-binding proposal of a few pages over such a protracted period is telling and it renders the suggestion that Betfred can negotiate and sign definitive legal agreements within five days implausible,” it added.After creditors voted for the rescue package, MOD said its restructuring team is working on transforming South African horse racing to ensure it can grow in relevance domestically and abroad.“The restructuring task team, which represents MOD, have identified key target areas for investment and development to ensure the South African horse racing product improves and transforms, becomes more relevant, accessible, and is distributed both nationally and internationally,” it said.Charles Savage of the restructuring task team said MOD will invest greatly in the South African racing industry to make this happen.“We are very happy that creditors have voted in favour of the business rescue practioner’s MOD-backed plan,” Savage said. “We have an exciting journey ahead as we begin to manage and invest in the assets that MOD will be acquiring. We see a bright future for racing in South Africa and MOD will need the support of the whole industry to deliver a strong, unified South African racing product.“What is critical to our success will be the reinvestment of profits into the industry, from grass-roots up, to make racing a broad-based, sustainable and relevant product for all South Africans.”However, Gold Circle has issued a legal challenge against the deal that could halt the process. This challenge alleges the business rescue practioner may not agree to sell more than 61% of Phumelela Gold International as it claims ownership of 39% of shares of the business. Gold CIrcle argues the business rescue practioner “refuses to recognise” its ownership of this stake.Gold Circle claims that “throughout the years”, Phumelela has accounted for this stake and “made payment accordingly”.The business rescue practioner, John Evans, meanwhile, argues that this agreement came to an end and a new agreement was reached and points to the fact that Gold Circle’s financial statements do not refer to this ownership stake. Gold Circle claims Evans “provides no details” of this new agreement.This claim will be considered by the Guateng Local Division of the South African High Court.center_img 3rd September 2020 | By Daniel O’Boyle Phumelela creditors accept rescue deal, snub Betfred AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

Skye Shelter Fund PLC (SKYESH.ng) 2015 Annual Report

first_imgSFS Real Estate Investment Trust (SFSREIT.ng) listed on the Nigerian Stock Exchange under the Property sector has released it’s 2015 annual report.For more information about SFS Real Estate Investment Trust (SFSREIT.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the SFS Real Estate Investment Trust (SFSREIT.ng) company page on AfricanFinancials.Document: SFS Real Estate Investment Trust (SFSREIT.ng)  2015 annual report.Company ProfileSFS Real Estate Investment Trust is a close-ended Real Estate Investment Trust Scheme in Nigeria which pools funds for the primary purpose of investing in income-generating real estate. This includes residential homes, residential apartments, office blocks, shopping malls and warehouses. The Fund managers are dedicated to developing and/or acquiring high-quality stock of properties in select locations in Nigeria. They will also make opportunist investments in joint venture developments in partnership with reputable developers. Typically, the Skye Shelter Fund invests 75% in real estate and 25% is invested in real estate related investments such as mortgages, real estate backed securities and real estate related equities. This portion includes a 10% allocation to cash for liquidity purposes. The company head office is in Lagos, Nigeria. SFS Real Estate Investment Trust is listed on the Nigerian Stock Exchangelast_img read more

FTN Cocoa Processing Limited (FTNCOC.ng) Q12016 Interim Report

first_imgFTN Cocoa Processing Limited (FTNCOC.ng) listed on the Nigerian Stock Exchange under the Food sector has released it’s 2016 interim results for the first quarter.For more information about FTN Cocoa Processing Limited (FTNCOC.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the FTN Cocoa Processing Limited (FTNCOC.ng) company page on AfricanFinancials.Document: FTN Cocoa Processing Limited (FTNCOC.ng)  2016 interim results for the first quarter.Company ProfileFTN Cocoa processors Plc was formerly registered as Fantastic Traders Nigeria Limited, a Limited Liability Company Which was incorporated in 1991. The company commenced cocoa processing business with third party arrangement (Toll Processing) with Stanmark cocoa processing company limited in 1995 for conversion of cocoa beans into cocoa butter and cocoa cake/powder. The company later extended its third party processing activities to Ile-Oluji, Cocoa Cooperative, Cocoa Akure and Cocoa products , Ede Osun State. Within a period of 13 years it had established strong relations with overseas cocoa product buyers all over the world. We went ahead to solidify our relationship with many local users such as Nestle Nigeria Plc and Promasidor Nigeria Limited; makers of Cowbell Milk and Cocoa products. FTN Cocoa Processing Limited is listed on the Nigerian Stock Exchangelast_img read more

Kenya Commercial Bank (KCB.rw) 2018 Abridged Report

first_imgKenya Commercial Bank (KCB.rw) listed on the Rwanda Stock Exchange under the Banking sector has released it’s 2018 abridged results.For more information about Kenya Commercial Bank (KCB.rw) reports, abridged reports, interim earnings results and earnings presentations, visit the Kenya Commercial Bank (KCB.rw) company page on AfricanFinancials.Document: Kenya Commercial Bank (KCB.rw)  2018 abridged results.Company ProfileKenya Commercial Bank (KCB) Rwanda Limited is a commercial bank offering financial solutions to private individuals and the corporate banking segment in Rwanda. KCB Bank Rwanda is a wholly-owned subsidiary of the KCB Group which is East Africa’s largest commercial bank by asset base. The Bank was established in 2008 after it was licensed by Rwanda’s banking regulator, the National Bank of Rwanda. It has 14 branches located in the main towns and cities of Rwanda as well as an extensive network of KCB Iwacu agents. Kenya Commercial Bank is listed on the Rwanda Stock Exchangelast_img read more

Sell charity event tickets online

Sell charity event tickets online AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis  69 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Charity Tickets is a Web-based ticket agency that helps charities in selling tickets to their fundraising events. You only pay if a ticket is sold. The listing in their searchable directory is free, so you could generate some useful extra promotion for your event at no charge. Charity Tickets charges 12% of the value of each ticket sold, with a minimum charge of £1.50, which includes the mailing of the ticket to the purchaser.Find out more from Charity Tickets. Advertisement Howard Lake | 11 May 2000 | News About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. read more

GlaxoSmithKline IMPACT Awards offer up to £35k to health charities

first_imgUnlike other grants and awards, you do not need to present a new project. The awards are designed to recognise success and achievements for existing work.The deadline for applications for the 2010 awards is 5pm on 25 September 2009.www.kingsfund.org.uk/research/projects/gsk_impact_awards/ About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Tagged with: Funding The GlaxoSmithKline IMPACT Awards are open for entries. Funded by GlaxoSmithKline and managed in partnership with The King’s Fund, they are designed to recognise and reward charities that are doing excellent work to improve people’s health.An overall winner will receive £35,000, nine other winners receive £25,000, and up to ten organisations that are highly commended or runners-up will receive £5,000 or £3,000.The awards are open to registered charities that are at least three years old, working in a health-related field in the UK, with a total annual income between £10,000 and £1 million. Advertisement Howard Lake | 3 July 2009 | Newscenter_img AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis  19 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis GlaxoSmithKline IMPACT Awards offer up to £35k to health charitieslast_img read more

Coca-Cola Thank You Fund offers €125,000 in Ireland

first_img AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 30 May 2015 | News Tagged with: corporate Funding Ireland The Coca-Cola Thank You Fund, which will invest €125,000 in Ireland this year, is open for applications.The Fund will support not-for-profit voluntary and charitable organisations operating within communities throughout the island of Ireland. Grants will be awarded to groups who have new ideas to get people moving through sport and activity-based programmes.The Fund was launched in 2011 to mark Coca-Cola’s 125th anniversary and has run every year since. Over the past four years €500,000 has been donated to the Fund and distributed among 42 organisations.In 2015 the Fund will again focus on one overall theme – ‘Awarding grants for new ideas to get people more active, more often.’ [youtube height=”450″ width=”800″]http://www.coca-cola.ie/[/youtube]The aim is to distribute €125,000 in total amongst five not-for-profit, voluntary and charitable organisations which are encouraging their communities to get moving and live a more active healthy lifestyle.The proposed project must exclusively benefit people aged over twelve years of age and it must be for a new project. The funding is not for initiatives already up and running.Applications to the Coca-Cola Thank You Fund will only be accepted online between the 27th June and 29th June 2015.center_img Coca-Cola Thank You Fund offers €125,000 in Ireland  71 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more

Pork and Beef Producers Keep Watch over Korea Trade Agreement

first_img Previous articleMajor Grant Will Foster Research on Soil HealthNext articleMajor Grant Will Foster Research on Soil Health on the HAT Thursday Morning Edition Andy Eubank Home Indiana Agriculture News Pork and Beef Producers Keep Watch over Korea Trade Agreement SHARE Facebook Twitter Facebook Twitter SHARE A-watchful-eye-on-KORUSEfforts by the U.S. and South Korea are moving ahead to modernize the 2011 Korea-U.S. Free Trade Agreement, KORUS, a key trade agreement for the U.S. pork and beef industries. The South Korean government sent its parliament a plan to renegotiate KORUS and announced it’s ready to start talks. The White House must tell Congress it plans to launch the talks, hold two public hearings, and disclose its negotiating goals 30-days before talks begin.The U.S. pork and beef industries are watching KORUS developments closely, concerned as with NAFTA, that producers could lose existing tariff gains if U.S. negotiators bargain ag for manufacturing wins, or even abandon KORUS.“We have seen our exports to South Korea go up,” says National Pork Producer’s spokesman Dave Warner. “Las year we sold $365 million worth of pork to South Korea, making it the number 5 foreign destination for U.S. pork.”That provides a big market for high-value internal organ cuts not eaten much in the U.S. American beef sales in number-two buyer Korea were up more than 80-percent to around one billion dollars, as tariffs move to zero over 10-years. Warner says the US needs more, not fewer trade agreements…tape“The US pork industry is kind of the poster child for that. We sell more pork to the twenty countries with which the United States has free trade agreements, than we do to the rest of the world combined. So, obviously free trade agreements work.”Agriculture is a U.S. economic sector that, unlike most others, has a foreign trade surplus. The challenge, of course, is convincing the White House to protect tariff gains, at a time when actual or possible losses in NAFTA or the U.S. TPP pull-out are foremost on producers’ minds.Source: NAFB news By Andy Eubank – Dec 28, 2017 Pork and Beef Producers Keep Watch over Korea Trade Agreementlast_img read more

EPA Reportedly Ready to Scrap RIN Market Reform

first_img The Environmental Protection Agency is reportedly ready to scrap RIN market reforms as it readies a rule to allow year-round E15 sales. Bloomberg News reports the shift comes as the agency races to meet a May 31 rulemaking deadline. The official summer driving season starts Saturday, leaving little time to announce the rule. The RIN market modifications are part of the same rule allowing year-round E15. However, for the rule to benefit drivers this year, it’s thought that the rule must be finalized before the summer driving season.The market reforms would have implemented trading restrictions on RIN credits. While the EPA may be backing off the aggressive RIN market reforms, agency officials will apparently continue to evaluate other market changes requested by President Trump. Year-round E15 sales is a welcome move by the U.S. biofuel industry and corn farmers because it has the potential to increase demand for U.S. ethanol. Facebook Twitter SHARE Facebook Twitter By NAFB News Service – May 29, 2019 SHARE EPA Reportedly Ready to Scrap RIN Market Reform Previous articleIndiana Sheep Association to Host Sheep Improvement Seminar and TourNext articleHouse Ag Subcommittee Schedules Hearing on USDA Relocation Plans NAFB News Service Home Indiana Agriculture News EPA Reportedly Ready to Scrap RIN Market Reformlast_img read more