Induction Healthcare (LON: INHC) is recommending a 10p/share cash bid from VitalHub Corp. That values the digital healthcare technology company at £9.7m. The flotation in 2019 raised £14.6m at 115p/share. The share price recovered 58.3% to 9.5p.
Atome (LON: ATOM) has signed a definitive Engineering, Procurement and Construction (EPC) contract with Casale for its Villeta green fertiliser project in Paraguay. This is a fixed price contract of $465m and will enable progress to the final investment decision for the 145MW project. That could happen in June and production could start 38 months later. The share price increased 55.4% to 43.5p.
Minoan Group (LON: MIN) shares recovered following the slump on Friday after it said that it does not have enough cash to complete the audit of its accounts to October 2024 and that would mean trading in the shares would be suspended on 1 May. The suspension could happen earlier because of the lack of cash. Minoan has not been able to extend the secured loan, totalling £1.19m, provided by DAGG. A proposal from DAG includes the conversion of the loan into shares and an additional £4.44m cash injection in return for shares. The share price rebounded 48% to 0.185p, but that is still well below the level two weeks ago.
Celadon Pharmaceuticals (LON: CEL) has terminated its committed credit facility that was announced in February. The company will ask for the floating charge over assets to be removed. Alternative providers of finance are being sought. Celadon Pharmaceuticals clawed back 44.4% to 6.5p.
FALLERS
Electric Guitar (LON: ELEG) continued its decline following the return from suspension on 2 April. The shell company’s share price halved to 0.0425p.
Peru-focused gold explorer Nativo Resources (LON: NTVO) is undertaking a feasibility study at the Toma La Mano tailings dump and there are other tailings dumps that are being considered. This will require additional funding. Peterhouse is subscribing for 12 million shares at 0.15p each, which gives the broker a 19.4% stake. That will be used to offset fees and Peterhouse will try to place the shares and provide Nativo Resources with 95% of the proceeds. Cash is being carefully managed, and some directors will receive their salary in shares. Further funds will be required by May and there are discussions with finance providers. Debt is being restructured. Nativo Resources is issuing 15.4 million shares at 0.7475p each to acquire Morrocota gold mine, which is near the 50%-owned Bonanza gold mine. The vendors are also subscribing for £10,000 of new shares. There are plans to start contract mining at Morrocota. The share price fell 49% to 0.625p.
Belluscura (LON: BELL) has withdrawn guidance for 2025 because of the uncertainty due to increased tariffs on imports to the US. The company’s portable oxygen concentrators are predominantly made in China, and the tariff will increase from 20% to 54%. Belluscura had been moving towards profitability. That is less likely to happen and could put pressure on the cash position. Earlier in the year, £4.7m was raised at 2p/share. John Gunn has increased his stake from 7.83% to 8.14%. The share price declined by two-fifths to 0.75p.
Organ transplant diagnostics developer Verici Dx (LON: VRCI) has received the local coverage determination for Tutivia reimbursement, so revenues on the tests can start to be recognised. There were 292 tests ordered in the first quarter of 2025 and price has been set at $2,650 each. The annual global market is 100,000 patients. Singer previously cut 2025 estimated revenues from $11.6m to $4.4m. A fundraising is expected by June. Some of the earlier loss has been clawed back, but the shares were still down 37.2% to 2.04p.