Two major investors including an Israeli company have sold shares in a North Sea oil and gas giant.
Israel’s Delek Group and Eni UK offloaded nearly 50 million ordinary shares in aggregate in the Aberdeen-based Ithaca Energy. The story leads our weekly round-up.
Shares in Ithaca Energy suffered what was reportedly its biggest intraday fall after its top two investors reduced their stakes.
The sale reduced Delek’s stake in Ithaca to 50.5% from 52.2%, while Eni’s shareholding dropped to 35.9% from 37.2%. Shares in Ithaca subsequently fell by as much as 13% as the market responded to the news last week.
A development site for homes in a historic part of the Scottish capital has been brought to the market.
The site could have 60 homes or around 70 student flats. Scarlett Land and Development is marketing the site for sale.
The agent said: “39 Spring Gardens is located in Abbeyhill, one of the oldest parts of Edinburgh, and is uniquely positioned between Edinburgh city centre, Holyrood Park and Portobello.
“The site extends to approximately 0.45 acres and is currently commercial in use.
“The surrounding area is characterised by a mix of residential, purpose-built student accommodation and care home properties within tenement flats, colony houses, stone built houses and new modern developments.”
The former chief executive of Crerar Hotel Group has revealed his next move in the industry.
Chris Wayne-Wills announced a little more than a month ago that he had stepped down from the top post at Crerar, having been chief executive since 2020.
He revealed this week that he is relocating with his wife, Gemma, and their son to Dubai, having taken up the post of cluster general manager at JA Resorts & Hotels.
Mr Wayne-Wills described the move as a “long-term aspiration”. He will be based at the JA Ocean View Hotel.
Consumers are waiting later than ever to book trips abroad, according to Jet2, further adding to evidence of a potential reversal in the post-pandemic holiday boom.
Shares in Jet2 – which flies to 75 destinations from 13 UK airports including Glasgow and Edinburgh – fell by more than 12% so far on the news last week after the company announced plans to cut the number of seats on offer this winter by 200,000 to 5.6 million. Chief executive Steve Heapy said this “flexible approach to capacity management” was the result of a less certain consumer environment.
Furthermore, with “limited visibility given the later booking profile” and many winter seats yet to sell, Jet2 expects earnings for the year to the end of March to be at the lower end of the consensus range of £449 million to £496m.
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