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fastjet says goodbye to Stelios and easyGroup Holdings

Fastjet FJET says it has made steady progress in implementing stabilisation efforts, including inter alia, a re-fleeting process, relocation of its headquarters from London to Johannesburg and a right-sizing of its operations in Zimbabwe and Tanzania. Accordingly fastjet aims to achieve a cashflow break-even position for the final quarter of 2017. The Company also announces that it has, on 29 June 2017, entered into an agreement with easyGroup Holdings Ltd to acquire all intellectual property rights associated with the fastjet brand for a total consideration of $2.5m, to be satisfied in cash, resulting in saving to the Company over the next 5 years. This agreement represents a major step forward as the Company continues with its stabilisation efforts under new management. Bye bye Stelios!

Angus Energy ANGS increases interim LBT of £(985,000) (2016: LBT £344,000). Says production guidance for the Lidsey Oil Field remains unchanged while production from the Brockham Oil Field could improve materially after bringing X4Z on stream from the Kimmeridge.

John Laing Group JLG says its investment portfolio as a whole is performing in line with expectations in a pre-close update for the half-year ending 30 June 2017.

Trinity Mirror TNI updates on trading and says group revenue is expected to fall by 9% on a like for like basis over the period. CEO Simon Fox said: “The trading environment for print in the first half remained volatile but we remain on course to meet our expectations for the year. I anticipate that the second half will show improving revenue momentum as we benefit from initiatives implemented during the first half of the year.”

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