The AIM-listed software and managed services provider has agreed to be bought by MRI Software for 95p per share, a 43% premium to Tuesdays closing price of 66.5p, valuing the company at £82.8mln.
MRI Software, which provides IT solutions to the real estate industry, said there are opportunities to further develop the combined business across the UK, Australia and the US.
The AIM-listed pharma company, which operates for patients with chronic hormonal diseases, said it continues to operate to supply its drugs.
The group added that it has enough cash to swing to profits after receiving a US$3.5mln payment as part of a deal with Eton Pharmaceuticals for the exclusive licensing rights for Alkindi Sprinkle in the US and an £11.2mln placing completed last month.
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Kromek PLC (LON:KMK) has joined the fight to save the worst affected victims of the coronavirus pandemic by turning its manufacturing efforts over to producing medical ventilators. The detection technology group said it will make under licence machinery developed by the Japanese firm Metran. Work will start before the end of the month and Kromek said it expects to have 1,000 units available within eight weeks and 2,000 by 12 weeks.
Rainbow Rare Earths Limited (LON:RBW) shares jumped higher on Wednesday as it told investors that it has now exported a further 100 tonnes of concentrate, in addition to the 75 tonnes sold in February. In a statement, the company noted that in Burundi the impact of the coronavirus (COVID-19) pandemic has been limited to the closure of certain borders and airports, but the import and export of goods continues to be permitted via the land border with Tanzania.
Chesnara PLC (LON:CSN) said its strong financial position will enable it to continue to pay dividends despite the coronavirus (COVID-19) pandemic disruption as it reported full-year 2019 results. The life insurance and pensions group raised its dividend by 3% to 21p for the year ended December 31, 2019, as its economic value – which includes the value of future policies – rose by 7% to £690mln.
Power Metal Resources PLC (LON:POW) has unveiled the conditional acquisition of a 51% interest in the Ditau project in Botswana for £150,000 from Kavango Resources PLC (LON:KAV). The explorer said that it will fund the acquisition through the issue of around 35.7mln new shares at a price of 0.42p each, a 100% premium to its Tuesday closing price. The company added that it has also invested £38,000 into Kavango through a convertible loan note.
Live Company Group PLC (LON:LVCG) has said its first quarter revenues remain on target despite “difficult and unprecedented trading conditions” caused by the coronavirus pandemic. In an update on Wednesday, the media firm reported “strong growth” in the first three months of the year, with £3.3mln of contracted revenue for 2020 and £1.1mln for 2021.
Sure Ventures PLC (LON:SURE) the London-listed venture capital fund, has announced that Sure Valley Ventures, in which it holds a 25.9% interest, has participated in a Series A investment round in Admix (Wam Group ltd) which raised up to $6.1mln. In a statement, Sure Ventures, which invests in early-stage software companies across a range of verticals, noted that Admix has built a monetization platform for the next generation of entertainment, from traditional gaming to emerging channels such as Esports and VR/AR content.
Frontier IP Group PLCs (LON:FIPP) portfolio firm, Pulsiv Solar has been granted a patent in Japan for its power and charging technology. The IP investment firm, which owns 18.9% of Pulsiv, said the company has also integrated its technology into a standard battery charger, significantly improving its energy efficiency and attracting “strong interest” from potential industry partners.
Primary Health Properties PLC (LON:PHP) said it has taken delivery of two completed developments of large, modern primary care centres in Ireland. In a statement, the FTSE 250-listed firm, one of the UK's leading investors in modern primary healthcare facilities, said the two developments were a 4,822 square metre (m2 ) centre at Bray, Co. Wicklow, 12 miles south of Dublin, and a 3,232m2 centre at Rialto, Dublin 8.
Tissue Regenix Group PLC (LON:TRX) has secured a US$629,000 loan backed by the US government to assist the firm with the potential impact of the coronavirus pandemic on its business. The regenerative medical device specialist said it will use the funds to support employee payroll, healthcare, utilities and rent payments within the US over the next two months, criteria which means the loan will not require repayment in the future. Tissue Regenix also issued an update on trading to March 31, reporting that revenues for its first quarter have increased 18% year-on-year and that it had a cash balance of £1.7mln, enough to fund it until at least the end of the second week of May.
Eden Research plc (LON:EDEN), a company focused on sustainable biopesticides for use in global crop protection, animal health and consumer products industries, has unveiled the appointment of Dr. Michael Carroll as its Director of Regulatory Affairs. In a statement, the AIM-quoted firm noted that Carroll is a leading figure in the field of crop protection products development and registration and brings international experience to its team having worked in the UK, Germany, Belgium and the USA, with over 30 years' experience gained in the agrochemical industries. For the past year, the company said, he has been working for TSG Consulting (LON:SAG) an AIM-quoted Science Group company that provides regulatory and scientific support to chemicRead More – Source