Sureserve (LON: SUR) is recommending a bid from Cap10 4NetZero Bidco, which is a vehicle for private equity company Cap10 Partners. The 125p a share bid values Sureserve at £214m and that is the highest share price since the company floated as Lakehouse in 2015. The market price is 37.2% ahead at 123.5p. Cap10 believes that taking the compliance and energy services provider company private will make it easier to focus on long-term goals.
UK Oil & Gas (LON: UKOG) is preparing to test the Pinarova-1 exploration well in Turkey after encouraging oil shows were detected. This is on the Resan licence, where the company has a 50% working interest. Drilling will continue in the zone. The share price is 15.3% higher at 0.083p.
Pathfinder Minerals (LON: PFP) has posted the circular to gain shareholder approval for the revised agreement for the disposal of IM Minerals. The share price rose 12.5% to 0.45p.
Trackwise Designs (LON: TWD) has been awarded the King’s Award for Enterprise in the innovation category. This is for its length-unlimited, multilayer flexible printed circuits. This has perked up the distressed share price, which is 8% ahead at 0.675p.
Business process outsourcing firm iEnergizer (LON: IBPO) plans to cancel is AIM quotation and a general meeting will be held on 16 May to gain shareholder approval. As EICR (Cyprus) owns 82.7% that is a formality. The lack of free float has hampered liquidity and the costs of the quotation outweigh any benefits. Management expects to leave AIM on 26 May. There are plans for a matched bargain facility. It appears that many smaller shareholders are selling – sometimes just one or two shares – and the share price has plunged 73.2% to 83p.
Yesterday afternoon Vela Technologies (LON: VELA) shares bounced up after it revealed that it has entered a put option deal to sell its 8% commercial interest in potential Covid treatment AZD1656 for £4m. However, the shares have lost some of those gains this morning and are down 14.9% to 0.02p. The option holder is Conduit Pharmaceuticals, which will pay in shares if the merger with Nasdaq-listed Murphy Canyon Acquisition Corp goes ahead.
Woodbois (LON: WBI) slid a further 8.75% to 0.365p following news earlier this week that the lender to its Denmark-based Woodgroup timber trading subsidiary has given notice on a $6m lending facility. The facility provided by Sydbank is fully drawn, but there is also $3.1m in cash deposits with Sydbank, which wants a refinance plan by the end of May. Premier Miton subsequently sold its 9.96% stake.
Biodexa Pharma (LON: BDRX) has fallen 5.56% to 4.25p ahead of the cancelation of the AIM quotation on 26 April.
