Cordel (LON: CRDL) has won an important contract with Amtrak in the US. The six-and-a-half year contract is valued at $6.7m. There will be $1m recognised in 2022-23 and $2m in 2023-24, with rest coming in the remaining time of the contract. Cordel’s technology will be used to capture and manage data on clearances of surrounding rail infrastructure. Cordel could move into profit next year. The share price jumped 23.1% to 8p.
Shares in Redx Pharma (LON: REDX) have risen by 14.9% to 38.5p on the news that its merger partner Jounce Therapeutics has received an unsolicited offer from Concentra Biosciences. Cancer treatments developer Redx Pharmarecently announced the merger with Jounce Therapeutics and the AIM company’s shareholders would own 63% of the enlarged group. They would receive 0.2105 of a Jounce share for each Redx share. Jounce would be renamed Redx Inc and retain its Nasdaq listing.
Purplebricks (LON: PURP) has received a possible offer from Strike Ltd, although it is not yet part of the formal sale process and has not entered into a non-disclosure agreement. The share price rose 10.1% to 7.595p
Reabold Resources (LON: RBD) has been approached by Kamran Sattar on behalf of an affiliate of Portillion Capital which could lead to a bid at a 10% premium to yesterday’s closing price of 0.2035p. The board believes this offer undervalues the oil and gas investment company. It recently sold the Victory gas discovery to Shell and intends to return £4m to shareholders, which would still leave it with cash. The share price is 9.46% higher at 0.2025p.
Energy supplier Yu Group (LON: YU.) continues to be hit by profit-taking since reporting 2022 figures. Year-end contracted revenues of £247m underpin the 2023 revenue forecasts. There are concerns over bad debt levels. The share price slipped 16.4% further to 510p, which means that the price is one-third lower over the past five days.
Adtech company Tremor International (LON: TRMR) says it has had talks with its adviser Goldman Sachs, but it is not up for sale. There have been bid enquiries, though. The share price lost 11.3% to 233.2p. The share price fell 11.3% to 233.2p.
Oil and gas company Synergia Energy Ltd (LON: SYN) used $4.07m in cash during the six months to December 2022. That leaves $710,000 in cash. Since then, a convertible loan facility of £650,000 has been raised. The share price declined by 9.52% to 0.095p.
Coal miner MC Mining (LON: MCM) is considering options to raise finance for the Makhado coking coal project in Limpopo. Further finance is required for the plant to be built. This could be through selling a stake in the project or issuing shares or raising debt. The interim pre-tax loss has fallen. The uncertainty over finance has hit the share price, which is 8.42% lower.