MIDAS SHARE TIPS: Join the Caribbean oil rush as Trinidad-based Trinity Exploration & Production (TRIN) looks set to drum up healthy returns for investors. Midas verdict: Trinity was hit hard when the oil price collapsed and the group is still feeling the pain. But Dingwall is nursing the company back to health, backed by an enthusiastic and dedicated workforce. Prospects are brighter than they have been in years, the group’s long-term ambition is to reach daily production of more than 7,000 barrels and brokers believe the share price should more than double over the next 12 months. Adventurous investors should snap up some shares now. At 15½p, they could prove a rewarding investment.
MIDAS UPDATE: Our paymaster tip Equiniti Group (EQN) soars by 80% in 20 months. Midas verdict: Equiniti shares have delivered a strong performance and investors may be inclined to take some profits. But they should hold on to most of their shares. Equiniti is doing well in the UK, while the US acquisition provides added momentum to the group.
Housebuilder Persimmon (PSN) last night came under fire from a major rival over its boss’s £100 million pay package. Stephen Stone, chief executive of Crest Nicholson, said: ‘This is clearly a negative [for the sector]. It’s mentioned more times than I’m sure my peer group would like. ‘The Persimmon remuneration is massively ahead of what all of the other public companies, particularly in housing, would have been delivering in an executive role.’
GKN (GKN) bosses line up £70m Melrose Industries (MRO)-style bonus haul: Fury as documents reveal plans to sell motor arm on the cheap to beat takeover.