Legacy UK Holdings has made an indicative offer of 62p/share for staffing firm Empresaria (LON: EMR), which follows two major shareholders encouraging the company to seek potential offers. The Planmatics consortium is not going ahead with the cash and loan notes offer of 60p/share, which it claims is due to a lack of due diligence materials being supplied by the company. Net fee income fell in the first half and trading remains tough. The share price jumped 72.8% to 43.2p.
On Friday, unusually high trading in shares of oil and gas investor Westmount Energy (LON: WTE) pushed up the share price 70% to 0.85p.
Nativo Resources (LON: NTVO) has gained approval from the noteholders for the proposed restructuring. The notes will not be convertible until January 2032 unless the market capitalisation exceeds £35m. This means that the company is no longer in technical default. A placing will raise £150,000 at 0.35p/share. The share price rebounded 66.7% to 0.375p.
Restaurants operator Tasty (LON: TAST confirmed it was in talks with former Fulham Shore boss David Page. It was subsequently announced that he and Nick Wong are joining the board. There are plans to raise £9.25m at 0.5p/share. A retail offer has been launched to raise a further £1m at 0.5p/share and it closes on 6 August. Tasty, which will change its name to Bow Street Group, is also acquiring The Ventnor Bay Company, which has £200,000 in cash, for 40 million shares. This cash will fund a revised strategy. The share price increased by 50% to 0.825p.
James Reed has taken a 4.65% stake in Buccaneer Energy (LON: BUCE). The share price rose by one-third to 0.02p.
FALLERS
Versarien (LON: VRS) did not find a suitable buyer for its UK graphene technology business and expects to put the graphene businesses into administration or liquidation. The Total Carbide business is still up for sale. The other remaining subsidiary is Gnanomat and the focus will be nanomaterials and energy storage technologies. Cash should last until the end of August. A strategic investment is still being negotiated. The share price slumped 45.5% to 0.015p.
Metals One (LON: MET1) has exercised its right to increase its shareholding in New Mexico Uranium Venture from 10% to 30%. The payment is the issue of 3.87 million shares at 16.487p each. The share price declined 39.5% to 4.9p.
Active Energy Group (LON: AEG) is updating its digital asset treasury strategy. It proposes to put an equal proportion of its discretionary allocation in Ethereum and Solana. Bitcoin will still be held. A general meeting will be held on 20 August. The share price slipped 28.9% to 0.135p.
Digital mental health products developer Cambridge Cognition (LON: COG) has experienced delays in signing contracts and them generating revenues. Interim revenues fell 23% to £4.3m and full year guidance has been cut from £12.5m to £9.5m-£10m. This means that the full year loss would increase from £700,000 to £900,000. The share price fell 23.1% to 25p.