Aquis Exchange (LON: AQX) is recommending a bid from rival exchange trading business SIX Exchange. The offer is 727p/share in cash, which values the company at £225m. There had been several previous proposals from SIX. The combined business will have greater pan-European scale and be able to expand internationally. SIX is particularly interested in the Aquis technology and there is also potential to develop the Aquis Stock Exchange a pan-European market. The share price jumped 113.6% to 705p. The company joined AIM in June 2018 at 269p/share.
Alaska-focused oil and gas explorer Pantheon Resources (LON: PANR) has commenced drilling of the Megrez-1 well, which is in the eastern area of the Ahpun field. The reservoir sections being targeted are younger and shallower than previous Alaskan wells. Newly elected President Trump says he supports an Alaskan natural gas pipeline to supply the Alaska LNG project. SP Angel suggests that a US listing could be sought in 2025. The share price increased 20.4% to 27.275p.
Angle (LON: AGL) says the DNA analysis of circulating tumour cells using Parsortix can identify EGFR-mutated non-small cell lung cancer patients that are developing resistance to treatment with AstraZeneca drug Osimertinib. This drug has annual revenues of $6.7bn and the findings could provide additional revenues for the pharma services business. The share price recovered 21.2% to 10p.
Nostra Terra Oil & Gas (LON: NTOG) has reached cash positivity and it has completed the phase 1 workover programme. Production has increased following the new management starting in May and it will continue to rise. The share price improved 13,3% to 0.0425p.
FALLERS
Trading in Woodbois (LON: WBI) shares has recommenced after Allenby was appointed as nominated adviser. Two independent non-execs have been appointed. Paul Shackleton has worked as a nominated adviser and Clive Roberts also has a capital markets background. A new boss has been appointed to the Gabon forestry business and a shipment of existing pre-sold stock is underway. The share price declined 15.3% to 0.25p.
Growth is slowing at Team Internet Group (LON: TIG) as online ad pricing declines. There has also been a reduction in demand for Shinez online marketing services. Shinez was acquired in April and changes in ad network partners has reduced traffic. Third quarter revenues declined 5%. Full year revenues are still forecast to grow from $837m to $843m, which is an 11% reduction on the previous forecast. The lower margins are being offset by reduced expenses, so pre-tax profit is forecast to improve from $77.2m to $79.2m. Net debt should be $95m at the end of the year and this could nearly halve next year. The share price dipped 14.7% to 101.7p.
Security services provider Westminster Group (LON: WSG) says that it is not going to leave AIM following its strategic review. The share price is 13.9% to 1.55p.
Gold explorer and producer Ariana Resources (LON: AAU) has secured a $5m financing agreement with RiverFort Global Partners and $2m has been received. No new shares will be issued. This will fund feasibility studies for the Dokwe gold project in Zimbabwe. RiverFort Global Partners will be the cornerstone investor for the ASX listing. The share price slipped 10.9% to 2.45p.
Oil and gas company Tower Resources (LON: TRP) is raising £275,000 at 0.027p/share. This will finance the business while it moves towards the finalisation of the Cameroon farm-out. The share price fell 6.9% to 0.0207p.