Alliance Pharma (LON: APH) is recommending a bid of 62.5p/share by Aegros Bidco, which is owned by DBAY Affiliates and the ERES IV Fund. That values the healthcare brands owner at £349.7m. There is an alternative of one rollover share in the bid vehicle for each Alliance Pharma share. DBAY has been building up a stake in Alliance Pharma for more than two years and currently owns 27.9%. DBAY believes that it will be easier to make operational changes without the distraction of being quoted. There will also be additional backing to make further acquisitions. The share price jumped 37.8% to 61.05p.
Oil and gas company Tower Resources (LON: TRP) has secured two farm-out agreements with Prime International for non-operated interests in Cameroon and Namibia. Tower Resources is expected to drill the NJOM-3 appraisal well in the second half, which could confirm the commerciality of the prospect. SP Angel has updated its share price target to 0.16p/share. The share price increased 24.3% to 0.046p.
AI-technology services provider Pri0r1ty Intelligence (LON: PR1) joined AIM at the end of 2024. The fundraising associated with the reversal of the business into the previously listed shell was done at 13.5p and there has been a decline since then. Buying interest has appeared and the share price recovered 11.1% to 10p.
A trading statement from animal feed additives supplier Anpario (LON: ANP) has sparked the fifth upgrade to 2024 forecasts. There was strong growth in Middle East and Africa. Shore has raised its pre-tax profit forecast to £5.5m, compared with £3.5m in 2023. Net cash is estimated to be £10.5m. The share price improved 8.84% to 400p.
FALLERS
Downhole oil and gas technology developer Enteq Technologies (LON: NTQ) says testing of the SABER rotary tool results in the requirement for further engineering modifications. Delays to the start of active test drilling with an Australian customer mean that the timing of revenues is uncertain. The drilling could begin in April. There are also additional costs. This means that cash will not last as long as previously expected and Cavendish has pulled its forecasts. Enteq was expected to move into profit in 2026-27. The share price dived 72.6% to 0.85p.
Data and marketing services provider Jaywing (LON: JWNG) has sent out the circular to gain shareholder approval for the cancellation of the AIM admission. This follows a requisition notice by 29.5% shareholder Michael Ashcroft and the company has decided that the departure from AIM is in the best interests of the shareholders. The general meeting is on the 5 February. The share price is one-quarter lower at 1.125p.
Timber company Woodbois (LON: WBI) has appointed Lucas Kanme as chief executive and the following day Nykredit Bank has terminated its loan facilities because discussions on repayment did not reach an amicable agreement. There is a total of $2.72m outstanding and it is repayable by 17 January. The bank has offered to discuss a settlement agreement. The share price dipped 17.1% to 0.145p.
TowerBrook Capital has decided against making an offer for Team Internet Group (LON: TIG). That still leaves Verdane Fund Manager AB as a potential bidder. It is proposing an offer of 125p/share. Previous approaches were rejected for being too low. The share price lost some of the gin earlier in the week and is down 11.5% to 104.2p.
Arecor Therapeutics (LON: AREC) is ceasing the operations of Tetris Pharma and it is returning the rights to Ogluo, a glucagon auto-injector pen for severe hypoglycaemia, to Xeris BioPhaarma. A partner of Tetris Pharma lost a key NHS Tender, which means revenues will be lower than expected in 2025. There will be a £3m write down. This enables Arecor Therapeutics to concentrate on core products, including ultra-rapid acting insulin candidate AT278, where partner discussions continue. The share price slipped 8.78% to 67.5p.