While investors have been looking for M&A elsewhere in the market, Tern (TERN) have announced a share offer for Pires (PIRI).
The offer is based on a closing price of 15.5p of Tern’s shares on 31 May 2022 and each Pires Share at 8p, a premium of 53.8% to Pires’ closing share price of 5.2p. Pires said it was “very excited” about the combination with Tern as this will enable it to rapidly generate value and liquidity for its shareholders.
Those looking for M&A at Audioboom (BOOM) have been somewhat cheered by a lack of director buying in recent days. In the light of this Michael Tobin OBE, non-executive Chairman of the Company, has resumed his buying to the tune of 757 shares at 1300p.
The contracts keep on coming for Open Orphan (ORPH) and are getting larger. The company said its subsidiary hVIVO has signed a £14.7m contract for an influenza characterisation study and a follow on influenza human challenge study with an existing top five global pharmaceutical client. Revenue from the contract will be recognised across 2022 and 2023.
Sovereign Metals (SVML) announced the commencement of its Pre-feasibility Study drilling program across the Kasiya Rutile Project (Kasiya). The company said this is the first significant work program for the PFS to commence as it completes the updated Scoping Study due in the coming weeks.
Castillo Copper (CCZ), a base metal explorer, announced the maiden Mineral Resource Estimate to the JORC (2012) Code for the BHA Project’s East Zone is 64Mt @ 318 ppm Co for 21,556t contained cobalt metal at relatively shallow depths (2-80m). The global MRE has 44,260t (63Mt @ 0.07% Cu) of contained copper metal that enhances the result.
Alien Metals (UFO), a global minerals exploration and development company, updated the market on the company’s progress regarding the Hancock Iron Ore Project and first production commencing in 2023. The company said the development aspects of the Hancock Iron Ore Project to be shovel ready for early 2023 are progressing very well.
Nanosynth (NNN), the AIM quoted company specialising in the synthesis and application of nanoparticles, announced that it has conducted a strategic review and, based on recent research and development undertaken, it has identified “seven new verticals” in which it intends to focus on licensing its nanoparticle technology. The company said it was “extremely excited” about the significant market sectors that have expressed an interest in adopting its technology. It has taken the decision to “evolve” its mask strategy to focus on licensing its novel technology into multiple verticals rather than manufacturing masks directly.
First Tin (1SN), a tin development company, has been notified that Mr Charles Cannon-Brookes, Non-Executive Chairman at the Company, has purchased, 808,228 shares in First Tin at a price of 19.055p to take the stake of his 50% Arlington Partners Fund to 7.51%.
Omega (ODX), the specialist medical diagnostics company focused on industry-leading Health & Nutrition and Global Health products, announces the results of its Open Offer. The gross proceeds of the Fundraising (including the Placing announced 6 May 2022) reached £2.20 million before expenses.
Feedback (FDBK), the specialist clinical communication company, said that it has continued its strong momentum into the second half of 2022 and now expects to report revenue for the financial year ended 31 May 2022 materially ahead of market expectations. This follows the previously announced progress with the Company’s flagship product Bleepa® and additional technology license fees arising from the company’s partnership with Imaging Engineering LLC booked at the year-end.
Power Metal Resources (POW), the London listed exploration company said that its subsidiary First Development Resources Limited has undertaken a £1,125,000 Pre-IPO financing. FDR is planning to list on the London capital markets in Q3 2022.
GreenRoc Mining (GROC), a company focused on the development of critical mineral projects in Greenland, revealed the appointment of Dr. Stefan Bernstein as Chief Executive Officer (‘CEO’) and Director, with effect from 1 July 2022. He replaces interim CEO Lars Brünner.
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