(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Blancco Technology Group PLC, up 23% at 219.56 pence, 12-month range 150.00p-220.00p. The data erasure firm says it has accepted a cash takeover offer that values it at GBP175 million. White Bidco Ltd, a vehicle of funds managed by US private equity firm Francisco Partners, offered 223p in cash per Blancco share, a 25% premium to the stock's last close of 179.00p. Bishop's Stortford, England-based Blancco provides secure data erasure. Founded in 1997, the company sells its data erasure software to enterprises, IT disposal vendors, and the mobile phone industry. Blancco says its board believes the offer presents an opportunity for shareholders to realise the value of their shares in cash.
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AIM - LOSERS
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Deltex Medical Group PLC, down 81% at 0.21p, 12-month range 0.20p-1.60p. The maker of blood circulation monitoring systems says trading of its shares has now resumed on AIM. Notes that it has completes a GBP1.9 million fundraise, as well as capital reorganisation, and has therefore "strengthen its balance sheet and been provided with the capital to implement its updated strategy." CEO Andy Mears says: "We are pleased to announce the completion of the fundraise and the capital reorganisation. With a strengthened balance sheet, the board and management can now concentrate on driving the business forward and delivering growth."
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Evgen Pharma PLC, down 15% at 2.73p, 12-month range 2.55p-7.80p. The clinical stage drug development company says it has agreed with its partner JuvLife Ltd, a division of Juvenescence Ltd, to terminate the patent and know-how license agreement for Evgen's Sulforadex sulforaphane stabilisation technology. The exclusive rights will be returned in final quarter of 2023. The upfront payment already received is non-refundable. "JuvLife has undergone a business re-organisation and re-prioritisation exercise. The return of these rights enables us to focus on higher value partnerships for pharmaceutical use of our Sulforadex technology, such as the licensing deal concluded with Stalicla in late 2022 and our own oncology programmes," says CEO Huw Jones.
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By Sophie Rose, Alliance News reporter
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Deltex Medical (DEMG)
Evgen Pharma (EVG)