Online takeaway food ordering system Just Eat's (JE.) tasty run continues, the shares up another 3.5% on the proposed £445 million acquisition of Menulog, a market leading peer in Australia and New Zealand, to be funded through a placing and open offer. Earlier this week (5 May), Just Eat pleased investors with a positive first quarter trading update.
Following the completion of a farm-out of its UK shale assets to private chemicals firm INEOS yesterday, IGas Energy (IGAS:AIM) announces the departure of chief executive Andrew Austin, a 25% reduction in head count and the closure of the acquired Dart Energy's offices in Stirling. The shares are up 10% to 31.1p with Westhouse Securities commenting: 'With the prospect of a Conservative majority, a strengthened balance sheet, a reduced cost base and new CEO, we would expect the IGas share price to respond positively in the short-term.'
Car dealing giant Pendragon (PDG) accelerates 4.2% higher to 37.5p on news of an 'excellent first quarter', with seasoned industry player and CEO Trevor Finn flagging 10.4% growth in quarterly profit before tax and expressing confidence in hitting full-year forecasts.
Luxury leather goods producer Pittards (PTD:AIM) softens 3.3% to 132.5p on plans to raise up to £5.8 million at a discounted 120p per share. The proceeds will help finance the acquisition of the freehold of its Yeovil factory and bring in much-needed business development funds.