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Key news from the Proactive Investors UK press room.
The drilling vessel used for the much anticipated well of the Eco Atlantic Oil & Gas Ltd (LON: ECO, CVE: EOG) well on the Orinduik block off Guyana is now en route to the site. The Stena Forth is expected to arrive around June 24 and begin shortly after Jethro Lobe's perspective.
The president of Woodford Patient Capital, the closed-end investment trust led by troubled fund manager Neil Woodford, said he was closely monitoring the status of the Woodford Equity Income Fund. The stock price of Woodford Patient has fallen since trading was halted in the Equity Income Fund, as they share many holding companies.
The CEO of the homebuilder, Mr. J. Gleeson (LON: GLE), Jolyon Harrison, resigned with immediate effect after seven years at his expense. Gleeson said the extensive discussions with Harrison regarding his compensation and estate planning had not brought any resolution and the board concluded that it was not possible to find a mutually acceptable basis to allow him to stay as CEO.
The Be Heard Group PLC digital marketing group (LON: BHRD) has made a strategic investment of £ 320,000 for 20% of Digital Delivery Consulting, known as 3pointsDigital. Be Heard said the new business generated by 3PD since May had already exceeded its cash investment.
Rainbow Rare Earths (LON: RBW) announced that financial Lind Partners would convert all of its outstanding USD 900,000 loan with the group into shares. Rainbow intends to issue a third of the shares now and the rest in the coming months accompanied by a prospectus. Rainbow shares have skyrocketed since China introduced rare earth metals into trade negotiations.
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