Hostels operator Safestay (LON: SSTY) is in talks with Infill Capital Partners concerning a bid that could value the company at £40.9m. That appears to include debt. There could be a cash offer and an unlisted share alternative. NAV was 22.21p/share at the end of 2025. Net debt was £18.6m. The share price doubled to 27p.
Persistence Gold Group is investing £3.51m in GoldStone Resources (LON: GRL) at 1p/share. This will fund a drilling programme at the Homase mine in Ghana to enhance the JORC mineral resource, plus exploration and mine planning. Persistence Gold can appoint one director while it owns more than 15% – the current stake is 20.96%. Strand Hanson has been appointed broker. The share price jumped 36.4% to 0.75p, which is still well below the subscription price.
Diagnostics tests developer EDX Medical (LON: EDX) will provide molecular profiling products and services to Astron Health, which provides precision oncology second opinions and molecular profiling interpretation. The share price gained 27.3% to 10.5p.
A refinancing by floorcoverings company Victoria (LON: VCP) has reduced debt and cut annual financing costs by £34m. Koch and consenting holders of 2028 loan notes have agreed the terms of a refinancing of the loan notes and Koch agreed to the refinancing of the preferred shares. New loan notes that mature in 2031 will be issued and there will also be ordinary shares swapped at a premium for part of the loan note debt and the majority of the preferred shares. This will reduce liabilities by at least £300m. Trading in 2025-26 was in line with guidance and this year there has been like-for-like growth. The share price rose 25.8% to 70.8p.
FALLERS
Clean Power Hydrogen (LON: CPH2) shares # returned from suspension following the finalisation of a fundraising and the price slumped 89.7% to 1.4p, which is a new all time low. The retail offer raised the £500,000 target at 1.5p/share. The hydrogen technology company had already raised £2.54m from a placing and a further £4.47m has been raised conditionally. That would take the total to £7.5m. The cash will finance the change in strategy to one involving strategic partnerships, licensing and manufacturing agreements. The cash should last at least until June 2027.
Phoenix Copper (LON: PXC) announced a £2.3m fundraising at 0.5p/share and a retail offer raised a further £67.000. The cash will repay short-term debt owed to Indigo Capital – currently $1.564m – and fund ongoing costs. There will also be funds spent on detailed engineering at the Empire copper project in Idaho. The share price declined 57.7% to 0.465p.
Cleaner fuels developer Quadrise (LON: QED) has raised £12m via a placing at 1p/share and a retail offer that could raise £1.2m is planned. The cash help to increase the scale of MSC/Cargill marine trials, complete other trials, secure supply agreements with refineries and pursue other opportunities. If the full amount is raised in the retail offer there should be enough working capital to get to cash flow positive in 2028-29. The share price slid 41.5% to 1p.
Futura Medical (LON:FUM) shares fell after the European Patent Office opposition division confirmed its decision to revoke the Eroxon patent. An appeal has been launched but this could take up to two years. The patent remains in force until the appeal is heard and a decision made. The share price dipped by one-third to 0.37p.