TomCo Energy (LON: TOM) has raised £100,000 at 0.08p/share, which was a 45.5% premium to the market price. The share price rose 18.2% to 0.065p, which claws back the loss earlier in the week. TomCo Energy still has to find a way to finance the acquisition of the 90% of Tar Sands Holdings II in Utah. That will cost $17.25m. Management believes that it can still achieve this by the end of 2023, when the option expires.
Ondine Biomedical (LON: OBI) says that its Steriwave nasal photodisinfection technology is available across Canada, having recently come into use at Nova Scotia’s largest hospital. One-in-nine hospital patients in Canada get a hospital-related infection. Steriwave is an alternative to antibiotics. The share price improved 10.3% to 8p.
Wealth management services provider Brooks Macdonald (LON: BRK) has appointed investment bank Raymond James, which acquired Charles Stanley in 2022, to advise on potential takeover interest in the company. It is unclear if there have been any bid approaches. The share price is 6.82% higher at 1762.5p.
Watkin Jones (LON: WJG) non-exec chair Alan Giddins bought 123,000 shares at 32.0239p each following the recent trading statement. This helped the share price recover 4.86% to 33.975p, but it is still lower on the week.
Bars operator Loungers (LON: LGRS) increased like-for-like sales by 7.7% in the 24 weeks to 1 October 2023 with growth accelerating in the second quarter. Overall revenues were 22% higher at £149.6m. Inflationary pressure is easing. Full year pre-tax profit is forecast to improve from £9.4m to £12m. The share price is 2.94% ahead at 192.5p.
FALLERS
Archimed SAS says that it will not increase its 833p/share bid for Instem (LON: INS) and the share price dipped 8.26% to 750p. The meetings to approve the deal are next Thursday.
In-content advertising company Mirriad Advertising (LON: MIRI) has appointed Nic Hellyer as its finance director. He has previously held the position at Byotrol (LON: BYOT) and former AIM company Pelatro. The share price fell 6.02% to 1.95p.
Invesco has reduced its stake in Zoo Digital (LON: ZOO) from 9.39% to 4.98%. The share price declined 5.32% to 44.5p.
Christie Group (LON: CTG) says that exchange and invoicing activity has recovered in its agency and advisory business. Transactions are increasing, but completions may be delayed into next year. This news underpins the expectations of a return to profit in the second half of 2023. However, Shore has cut its full year expectations with a £1m loss forecast. A bounce back is expected in 2024 with pre-tax profit of £4.8m forecast.
