Restaurants operator Fulham Shore (LON: FUL) is recommending a 14.15p a share cash bid by Tokyo-based TORIDOLL Holdings. The share price jumped 32.4% to 13.9p. The bidder has revenues of around £1bn and already has European interests. It works with specialist private equity firm Capdesia in Europe. The takeover will enable greater expansion of the Franco Manca and The Real Greek brands.
Building products and services provider Northern Bear (LON: NTBR) is paying a 4p a share dividend plus an additional 1p a share special dividend. A semi-annual dividend is promised and management says that it plans a higher investor relations profile. The share price is 25.7% higher at 46.5p. Underlying trading has been ahead of expectations, although there will be a provision of up to £750,000 for unprofitable contracts taken on by Northern Bear Building Services. Underlying 2022-23 operating profit should exceed £2.75m.
ScotGold Resources (LON: SGZ) has secured short-term financing for the Cononish gold and silver mine. The gold offtake provider has advanced $500,000 with payment against monthly deliveries from July to November. Debt provider Bridge Barn, which is controlled by non-exec Nathaniel le Roux, is deferring $450,000 of interest payments until 1 December. This gives ScotGold Resources the opportunity to change its mining plans so that gold production is enhanced. The share price recovered by one-fifth to 15p.
Crimson Tide (LON: TIDE) has won an initial flagship contract with an NHS Trust in south east England worth £250,000 over 36 months. The mpro5 Smart App will capture and consolidate incident and response data. This contract can be expanded as more IoT sensors across the trust. The share price rose 11.8% to 2.85p.
Oxford BioDynamics (LON: OBD) plans to launch prostrate screening EpiSwitch test in the UK and US by the end of 2023. The main EpiSwitch CiRT test to identify patients that will benefit for the checkpoint inhibitor class of cancer immunotherapies is building sales in the US. US lab space has been leased for a CLIA-certified testing facility. The share price increased by 7.46% to 15.85p.
Acuity Risk Management is reversing into Drumz (LON: DRUM) and the enlarged group is changing its name to Acuity RM. A share issue will raise £1.45m – £950,000 after expenses – at 4.5p a share. The share price slipped 11.1% to 0.6p. Drumz already owns 25% of Acuity Risk Management. The reversal should be completed on 25 April. Drumz other investment is a 5.85% stake in KCR Residential REIT (LON: KCR) and the shares are unchanged at 9.5p.
Franchise Brands (LON: FRAN) shares continue to fall and are down a further 3.55% to 176.5p, which is below the 180p placing price when £92m was raised to help finance the acquisition of Pirtek Europe.
Shield Therapeutics (LON: STX) has appointed Andy Hurley as chief commercial officer and he will head the US push for the company’s Accrufer iron deficiency treatment. The full US sales team should be hire by 1 May. The share price declined by 3.28% to 5.9p.
