RBS shareholders legal action after being ‘misled’
A GROUP of Royal Bank of Scotland shareholders has launched a multi-million-pound lawsuit against the bank for misleading investors at the height of the credit crisis in 2008. In the first court document filed in the UK over the bank’s record £12 billion cash-call in April 2008, a group of 21 claimants – including international investors and pension funds – have claimed RBS published a defective prospectus littered with mis-statements and omissions. (Scotsman)
ENERGY & UTILITIES
Ministers say North Sea oil better off within UK
SCOTLAND’S oil and gas industry would be better positioned to withstand global shocks within the UK than it would if Scotland was an independent country. Three Liberal Democrat secretaries of state were in Aberdeen to set out their long-term strategy, offering to encourage investment, boost supply chains and promote exports. (Scotsman)
Parkmead seeks more acquisitions
Oil explorer Parkmead is on the look-out for further acquisitions after two “milestone” deals during the first half of the year helped deliver a three-fold increase in assets.
The firm said a recent £20 million fundraising exercise placed it in a “strong” position for further expansion following the takeover in August of fellow Aberdeen company Deo and the purchase of onshore gas assets in the Netherlands. (Scotsman)
FOOD, DRINK & AGRICULTURE
Expansion is a piece of cake for Dean’s of Huntly
SHORTBREAD and oatcake maker Dean’s of Huntly has reported a dip in profit after putting more money into a pension scheme to help fund capital investment at its Aberdeenshire site. The company saw pre-tax profits fall from £587,308 to £419,654, even though turnover edged up from £6.9 million to more than £7m. (Herald)
Young brewer already has global plans for craft beers
Moray’s only brewery plans to take advantage of the region’s reputation for quality food and drink to help it to expand overseas. Speyside Craft Brewery, founded by young entrepreneur Seb Jones less than six months ago, is already producing a range of beers for Moray pubs, hotels, restaurants and shop. (P&J)
MEDIA & LEISURE
The Future of the Media in Scotland – 9 April, Edinburgh
Join delegates from across the marketing, communication and advertising industry at this unmissable event. Top speakers will debate the Leveson fall out and tackle the big issues facing Scotland’s media in the 21st Century. Book your place today!
(The Scotsman Conferences)
DSM Dalry vitamin plant wins £3.7 million funding
AN AYRSHIRE factory which is the only remaining producer of vitamin C in the western world is to receive £3.7 million in expansion funding from Scottish Enterprise. The DSM site in Dalry, which employs around 330 people, has been awarded the regional selective assistance grant to fund a major investment in the factory.