Francisco Partners II is making a recommended cash offer for e-waste and data erasure company Blancco Technology Group (LON: BLTG). The bid is 223p/share and the share price jumped 22.4% to 219p. The share price has not been as high as the bid for 18 months. Blancco management believe the help of a backer with cash to invest and experience of growing technology companies will help to expand the business.
CyanConnode (LON: CYAN) has won a contract for 300,000 mesh communication modules for smart meters in India. Deliveries should commence by December. This is part of the strategic framework agreement with IntelliSmart Infrastructure, taking the total orders generated from this deal to 900,000. This could help CyanConnode move into profit in the year to March 2024. The share price is 10% higher at 15.125p.
Oxford BioDynamics (LON: OBD) has raised £5.6m via a placing and subscription at 11p/share. A PrimaryBid offer remains open. The share price rose 8% to 11.45p and that is higher than at the start of the week but not much above the all-time low. The cash will finance investment in marketing for EpiSwitch, particularly the prostate screening version.
Alien Metals (LON: UFO) says it has investigated the potential for direct ship ore at the Malina tenement in Western Australia. The Hancock ridge H has provided rock chip samples of greater than 60% and this continues into the tenement. This could significantly increase the resource. The share price increased 5.88% to 0.36p.
FALLERS
Deltex Medical Group (LON: DEMG) returned from suspension and fell 82.5% to a new low of 0.21p. The blood circulation monitoring devices developer raised £1.9m at 0.2p/share. The focus is on creating recurring revenues and marketing the new monitor. There will also be cost cutting to reduce the cash outflow.
Supercapacitor supplier Cap-XX (LON: CPX) has been hit by shipping delays and it expects 2022-23 revenues to decline by 29% to £2.1m. The share price slumped 17.1% to 1.45p, which follows a recent recovery in the share price.
Shares in Evgen Pharma (LON: EVG) declined 12.5% to 2.8p because Juvenescence may terminate the patent and know-how licence agreement for Sulforadex sulforaphane stabilisation technology. FinnCap had previously estimated that the partnership was worth £5m. The £190,000 upfront payment is non-refundable. Evgen has enough cash until the fourth quarter of next year.
Second quarter production from Bushveld Minerals (LON: BMN) fell from the previous quarter, but it is 9% ahead in the first six months of 2023. Unplanned maintenance hit production at Vametco. Vanchem delayed the use of higher-grade ore until July, which will boost production. 1,784mt of vanadium was produced and destocking meant that 2,096mt was sold in the period. Full year production guidance has been cut from 4.2mt-4.5mt to 3.7mt-3.9mt. The vanadium price has fallen in the past quarter. The share price is 11.5% lower at 2.3p.
