Energy supplier and energy efficiency services provider Good Energy (LON: GOOD) is recommending a 490p/share bid from Esyasoft. That values Good Energy at £99.4m. Esyasoft is expert in smart grid technology and is attracted to Good Energy because of its transformation into an energy-as-a-service business and the potential to roll out some of its operations, such as 49%-owned Zapmap EV apps and services, outside of the UK. The financial backing f a larger company will help Good Energy grow faster. Major shareholder Ecotricity has committed to accepting the bid. The share price jumped 21.5% to 480p.
Rapid diagnostic tests developer Abingdon Health (LON: ABDX) has been awarded £800,000 by UK Research and Innovation as part of total project funding of €5m to develop a new intervention for malaria elimination. The project will last 24 months. The share price increased 9.68% to 8.5p.
Human challenge trial services provider hVIVO (LON: HVO) has signed a letter of intent with ILiAD Biotechnologies to conduct a large-scale phase 3 human challenge trial for a potential whooping cough vaccine, BPZE1. The trial will start in the second half of 2025. No contract value is mentioned but it should be worth more than £10m. The share price recovered 8.93% to 21.35p.
Property developer Paul Elliott has been appointed as a director of biomass technology developer Active Energy Group (LON: AEG). He has been involved in the turnarounds of distressed assets. Accountant Pankaj Rankaj has joined the board as a non-executive director. The share price rose 9.09% to 0.3p.
Offshore energy market services Tekmar Group (LON: TGP) has won a new offshore wind energy contract worth £5m. Tekmar will supply its Generation 10 cable protection system and associated products. This contract will be completed in 2025. The share price improved 8.7% to 6.25p.
FALLERS
HCA Healthcare has committed to investing $4m in Ondine Biomedical Inc (LON: OBI) at $0.1057/share. This should provide enough cash to cover requirements until the fourth quarter of 2025. However, settlement of a proposed investment made by a Canadian investor last September has been delayed. The share price slipped 11.8% to 11.25p.
Kidney disease test developer Renalytix (LON: RENX) expects interim revenues to be $1.3m for the kidneyintelIX.dkd test. Monthly sales per representative have trebled to 24. Further new adopters are expected to offer the test. The share price declined 6.67% to 10.5p.
Vela Technologies (LON: VELA) reports a decline in the value of its investment portfolio from £2.95m to £2.62m in the fourth quarter of 2024. The largest fall in value was in Tribe Technology (LON: TRYB) following the announcement of its intention to leave AIM. Vela is taking opportunities to sell some investments, so that the cash can be reinvested in new investments. Investee company Community Social Investment has shares in WeCap, which plans to list in the US and the shares will be distributed to the shareholders of the investee company. This could provide some upside. The share price fell 7.14% to 3.25p.
Coral Products (LON: CRU) interims were in line with previously downgraded expectations with revenues declining from £17.2m to £15.8m and it fell into loss. The plastic products manufacturer has halved the interim dividend to 0.25p/share. Costs have been reduced and there were exceptional reorganisation costs of £676,000. An underlying loss of £400,000 is forecast for the full year, suggesting breakeven in the second half. Manufacturing problems have been resolved. The share price dipped 3.85% to 6.25p.