Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

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We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


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If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Ambrian Capital PLC (AMBR)

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Wednesday 08 February, 2012

Ambrian Capital PLC

Trading Statement

RNS Number : 9942W
Ambrian Capital PLC
08 February 2012

Ambrian Capital PLC


Trading update


Ambrian Capital PLC ("Ambrian" or "the Company") provides a trading update for the year ended 31 December 2011. 


In September 2011, the Company reported a loss of £1.46 million for the six months ended 30 June 2011, reflecting, amongst other things, a write-down of its intangible assets of £2.15 million attributable to its investment in Ambrian Partners Limited ("APL"). Subsequently, the Company announced that it had entered into a conditional agreement to dispose of APL to RFC Group Limited ("RFC"). In November 2011, the Company expected that the transaction would result in a further write-down of its investment in APL amounting to £1.5 million.  It is now expected that this write-down will be approximately £2 million. In addition, APL incurred operating losses of c. £1.0 million during the six months ended 31 December 2011.  By virtue of the agreement with RFC, the Company does not anticipate any further losses in APL after 31 December 2011.  It is anticipated that this disposal will be completed by 31 March 2012.


The Company's commodity operations during the second half of the financial year have been affected by the global slowdown.


After a strong start to the year, the biofuels business was impacted by a period of low biodiesel premiums relative to gasoil and delayed shipments of biodiesel from Asia leading to increased inventory storage and financing expenses. In addition, the start-up costs of Ambrian Energy Limited, an adviser and arranger of fossil fuel transactions, were only partially offset by revenues. Overall the Company sustained losses in its Energy division of c. £1.0 million in the six months ended 31 December 2011.


Ambrian Metals Limited also encountered a subdued market with lower demand in the US and Europe and deferred demand from the Middle East due to overstocking in the region.  Ambrian does not expect this business to make a positive contribution in the second half of the financial year to add to its strong first half performance.


Market conditions have also affected the value of the Company's principal investments in public and private resource-based mining, exploration and service companies resulting in a loss of c. £1.0 million during the second half.


The Board expects that the combined effect of these events will be for the Company to report a substantial loss before tax for the year ended 31 December 2011.  The Board is currently taking remedial action to address the position including a substantial cost-cutting exercise.






Ambrian Capital plc

Robert Ashley, Chief Executive 

+ 44 (0)20 7634 4784

Macquarie Capital (Europe) Limited

Nicholas Harland

+ 44 (0)20 3037 2369


Charlotte Kirkham

+ 44 (0)20 7920 2331

Ann-Marie Wilkinson

+ 44 (0)20 7920 2343



About Ambrian Capital PLC


Ambrian Capital plc (AIM: AMBR) is a natural resources investment bank active in Commodities, Corporate Finance & Equities and Principal Investments.


Ambrian Metals Limited is an independent physical metals supplier with a particular strength in refined copper. Through Ambrian Metals' offices in London and Shanghai and agents in New York, Santiago, São Paulo, Seoul and Tokyo, it sources non-ferrous metals from producers for distribution to an international client base of metals consumers and merchants.


Ambrian Energy Limited is a physical energy trading company focused on the supply of biofuels, crude oil and fuel oil.  Ambrian Energy deploys agents in Turkey, Azerbaijan, the Middle East, South Africa, USA, Korea and Australia/New Zealand.  Ambrian Energy is the founder and manager of Strategic Energy Assurance Limited, a company focused on the needs of governments' strategic petroleum reserves.


Ambrian Partners Limited is known in the market for its leading positions in the metals & mining and oil & gas sectors.  It provides corporate finance advice, equity research, sales and trading and market making services.  Ambrian Partners is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority.


Ambrian Principal Investments Limited is an investment company which holds the Group's principal investment portfolio.  It is managed by Ambrian Asset Management Limited, which is authorised and regulated by the Financial Services Authority.

This information is provided by RNS
The company news service from the London Stock Exchange

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