10.32am: Oil firm’s chair to step down in summer
() is moving higher as the crude price continues to rise, up 4.06% to 58.22p.
The company has also benefited from putting its finances on a firmer footing, such that non-executive chair Dorothy Thompson has announced she has decided to step down from the board.
She will stay on until a new chair is appointed, which is expected to be towards the end of the summer.
She said: “My time with Tullow has been interesting and challenging and Tullow is now well positioned for a positive and sustainable future. With the refinancing successfully concluded through our recent bond issue and with a new business plan in place which is progressing well under [chief executive] Rahul Dhir’s capable leadership, I have decided that this is the right time to step back from Tullow and to move to other opportunities.”
9.44am: US boost for technology firm
Software group PLC () is in demand.
Its shares are up 5.6% or 49p at 924p after it announced that the 3M Company, a long standing customer, was using its Accolade software for new product…
