Former Silence Therapeutics boss Ali Mortazavi has taken a 15.5% stake in AIM shell Phimedix (LON: PHM).
The company was formerly known as Zibao Metals Recycling Holdings and the scrap metal operations, which had net liabilities, sold to management.
There was a forty-for-one share consolidation and £353,000 raised from a placing. A buyback of shares from Wenjie Zhou used up £103,000 and that used for the cash consideration for the purchase of the scrap metal business.
The original shareholders own 1.4% of the enlarged share capital with the rest owned by the buyers of the placing shar...
