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 share...
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