Former Silence Therapeutics boss buys 15.5% stake in AIM shell

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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Andrew Hore
Andrew Hore is the publisher of AIM Journal, which is an online monthly publication covering the Alternative Investment Market.