Smoove (LON: SMV) says it is in bid discussions with PEXA Group. These are at an early stage but could lead to a cash bid for the online residential property services provider. Australia-based PEXA Group offers online property services through the Property Now content hub that are similar to those offered by Smoove. There is no indication of bid price, but the shares jumped 44.2% to 46p.
Cleaning services provider React (LON: REAT) says interim revenues improved from £5.1m to £9.3m, while EBITDA soared from £133,000 to £925,000. That is a combination of the acquisition of LaddersFree and organic growth. This underpins the expectation of trebled full year pre-tax profit of £2.1m. The share price rose 6.52% to 1.225p, which is eight times prospective earnings.
Cancer diagnostics company Angle (LON: AGL) shares continue to rise following last Friday’s 2022 results announcement. The price is 9.9% ahead at 27.75p, which is 56% higher than one week ago. There is enough cash to fund the business until the second half of 2024 as Angle seeks to take advantage of the FDA approval of its Parsortix device.
Frasers Group (LON: FRAS) has increased its direct stake in N Brown Group (LON: BWNG) from 12.6% to 17.6%. Previously there was a contract for difference which meant that the total stake was 17.9%. The N Brown share price improved 5.26% to 28p.
Shares in business process outsourcing firm iEnergizer (LON: IBPO) continue to fall ahead of plans to cancel the AIM quotation on 26 May. As EICR (Cyprus) owns 82.7% the shareholder vote is a formality. The lack of free float has hampered liquidity and the costs of the quotation outweigh any benefits. There was a further 51.5% decline to 32.95p.
Technology investment company Asimilar (LON: ASLR) is also leaving AIM and trading in the shares has recommenced following the publication of the latest accounts. The share price fell by one-third to 1.25p. At the end of September 2022, net assets were 5.53p a share. A general meeting will be held on 18 May and the cancelation should happen on 26 May. Asimilar will retain its Aquis quotation.
Cleantech Lithium (LON: CTL) has been hit by uncertainty relating to Chile’s National Lithium Strategy. Cleantech Lithium says that it has been reassured that its lithium assets will not require majority state participation because they are smaller scale. The share price is 15.5% lower at 41p. This is the lowest level since January.
Touchstone Exploration (LON: TXP) has confirmed that there is light crude oil present in the Royston-1X production test but failed to flow oil to surface. This suggests it is a low permeability reservoir. Four more zones will be tested. The share price declined 9.92% to 59p.
