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Allied Minds raises £64m to fund further investment in tech

Fri, 02nd Dec 2016 07:37

(ShareCast News) - Science and technology investor Allied Minds has raised £64m ($81m) in an equity placing to increase investment in its portfolio of businesses and fund a pipeline of emerging technologies.The FTSE 250 company, through broker Credit Suisse Securities, placed over 17.4m shares at 367p each and raised £64m, which represent about 8.1% of its issued share capital before the placing.Chief executive Chris Silva said: "The proceeds will further enable Allied Minds to invest alongside third parties in our portfolio of subsidiaries and to fund our pipeline of new technologies sourced from our academic, federal and corporate partners."The proceeds of the placing put Allied Minds in a strong position to capitalise on the opportunities in front of us and increase our financial flexibility as we seek to maximise value capture for our shareholders."Admission of the shares to the market is expected to be on 6 December, and after admission it will have a share capital of 233.7m with voting rights and none in treasury.Woodford Investment Management, a related party of the company, bought 4.1m shares for £15m.
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4 Feb 2016 10:28

WINNERS & LOSERS SUMMARY: Shell Gains As Earnings Meet Expectations

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4 Feb 2016 08:51

Allied Minds demonstrates new memory technology

(ShareCast News) - A new, more versatile form of memory, with potential applications from smartphones to the automotive industry, was a step closer on Thursday, with Allied Minds announcing the successful demonstration of a prototype of 'Spin Transfer Magneto-Resistive Random Access Memory' (ST-MRAM

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4 Feb 2016 07:54

Allied Minds Subsidiary Achieves Success With New Memory Technology

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3 Feb 2016 16:14

FTSE 250 movers: Banking and investment firms drive market down

(ShareCast News) - The FTSE 250 was down 289.58 points (1.78%) to 16,010.10 shortly before the close on Wednesday. Allied Minds continued to fall after rising earlier in the week on the back of news its subsidiary Federated Wireless completed a successful $22m (£15.4m) Series A Preferred fundraising

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2 Feb 2016 15:33

FTSE 250 movers: Investors worried about Ocado Smart Platform partners

(ShareCast News) - The FTSE 250 continued to slide on Tuesday, with the second tier market down 249.75 points (1.51%) to 16,239.51 points by mid-afternoon. Despite posting double-digit revenue growth for the year through "challenging market conditions", shares in Ocado Group were down over 8%. T

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1 Feb 2016 15:13

FTSE 250 movers: Vedanta and Just Eat fall on broker notes

(ShareCast News) - The FTSE 250 started the month in the red, down 68.05 points (0.41%) to 16,419.67 by mid-afternoon on Monday. Vedanta Resources sank after Deutsche Bank cuts its target price for the mining company from 200p to 185p on lower than expected iron ore sales. The bank said Vedanta now

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1 Feb 2016 14:13

Broker tips: Allied Minds, Premier Oil, Domino's, Just Eat

(ShareCast News) - Shares in Allied Minds gained on Monday as Numis reiterated the stock at 'buy' after the company announced a successful $22m (£15.4m) fundraising for its subsidiary Federated Wireless. The US-based FTSE 250 science and technology developer invested $5m in the fundraising and the r

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1 Feb 2016 12:41

Numis reiterates 'buy' at Allied Minds

(ShareCast News) - Shares in Allied Minds gained on Monday as Numis reiterated the stock at 'buy' after the company announced a successful $22m (£15.4m) fundraising for its subsidiary Federated Wireless. The US-based FTSE 250 science and technology developer invested $5m in the fundraising and the r

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1 Feb 2016 12:07

LONDON MARKET MIDDAY: BT Group Leads Blue-Chips In Mixed Market

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1 Feb 2016 10:20

WINNERS & LOSERS SUMMARY: BT Shares Up As Profit And Revenue Rise

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1 Feb 2016 08:07

Allied Minds raises £15m to develop wireless technology

(ShareCast News) - Allied Minds was looking at a beefed-up Federated Wireless subsidiary on Monday, announcing the a successful $22m (£15.4m) Series A Preferred fundraising round for the firm. The US-based FTSE 250 science and technology developer said the equity had come from investors including Wo

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1 Feb 2016 07:42

Allied Minds Invests In USD22 Million Federated Wireless Fundraising

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4 Jan 2016 14:10

FTSE 250 movers: Ocado keeps falling, Allied Minds lifted by paper tip

(ShareCast News) - With less exposure to international companies than the blue chip benchmark, the FTSE 250 index was down 1.5% by mid afternoon, compared to the 2%-plus dip of the FTSE 100. Worries about China were the cause of the widespread losses in London, Europe and the US on Monday, but the U

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3 Jan 2016 14:47

Sunday share tips: Persimmon, Vodafone, McBride, Telford Homes

(ShareCast News) - Now might be the right time to sell Persimmon shares, said the Sunday Times' Inside the City column, with a trading update due on Thursday. Investors in the house builder have seen the price triple in the last three years and received £800m in dividends. Persimmon was one of three

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5 Oct 2015 16:03

London close: Stocks end higher despite negative services data

(ShareCast News) - UK stocks gained as the market proved resilient against a batch of negative services data on hopes the Federal Reserve will keep interest rates unchanged for longer. The Markit/CIPS UK services purchasing managers' index fell to 53.3 in September from 55.6 in August, compared to a

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