Bankers Petroleum Ltd (TSE:BNK, LON:BNK) was the best performing share in London on the back of the agreed bid from Geo-Jade.
The dual-listed stock also saw wits shares rise to C$1.80 in Toronto, still some way short of the C$2.20 a share cash offer from Geo-Jade, and the recommendation from Dundee Capital Markets is to sell into strength.
It has upped its price target from C$1.20 to C$2.20 and switched to a 'sell' rating from 'neutral'.
“We believe this sale agreement represents an excellent deal for Bankers' shareholders, near-double the current market valuation - albeit the trading level observed just four months ago - thus crystallising a significant return to shareholders, unavailable near-term on an independent, stand-alone basis,” the Dundee analysts said.
“However, despite the definitive sales agreement with Geo-Jade, and unanimous support of Bankers' board of directors and senior management team, there remain a variety of potential risks, regulatory and other, to the consummation of this deal, expected to close mid-2016. We also do not expect other serious rival bids to emerge, given the ongoing tax dispute and future fiscal renegotiations,” the analysts added.
In London, the shares soared 70% to 103.5p, equivalent to around C$1.95.
NetPlay TV PLC (LON:NPT) rewarded shareholders with a special dividend as the number of players taking part in its late-night TV casino games rose sharply.
Shares shot up 13% to 10.625p as it said 2015's momentum had continued into the current year.
Medtech firm Angle PLC (LON:AGL) added almost 11.4% on the day at 78.5p as it revealed a potential breakthrough in the detection, monitoring and treatment of prostate cancer based on the results of a study by the Barts Cancer Institute (BCI).
The data, presented in a poster at an international cancer symposium, show that ANGLE’s Parsortix liquid biopsy not only detects the killer disease, the device also allows doctors assess how aggressive the cancer is.
It will now work with BCI and other leading cancer centres to develop and implement clinical studies to validate the use of the Parsortix system “in the routine detection, assessment and treatment of prostate cancer patients”.
Tavistock Investments PLC (LON:TAVI), the integrated financial services business, shot up 0.625p to 4p as it announced an acquisition, share subscription and new debt facility.
It has acquired Abacus, a profitable financial advisory business based in Hereford for £5.17mln.
Heading north was Namibia-focused mining project developer North River Resources PLC (LON:NRRP) as further drilling at its flagship Namib lead-zinc project hit high grade mineralisation.
The shares advanced 3.45% to close at 0.075p each.
Despite all these small-cap good news stories, the FTSE AIM All-Share finished 0.1% lower on the day at 706, although the FTSE AIM 100 index finished marginally in the blue at 3,310.
Quadrise Fuels International PLC (LON:QFI), down 13.79% to 12.5p after its half-yearly report, stopped the AIM 100's rise from being more substantial.
The provider of a low-cost alternative to fuel oil in the shipping, refining and power generation markets made a loss before tax in the second half of 2015 of £2.35mln, little changed from the loss of £2.21mln in the same period of 2014.
The company ended 2015 with cash reserves of £6.50 million, which it said should be sufficient to carry the group through to sustainable early revenues from its major projects, based on the current programme time scales.
Xcite Energy Limited (LON:XEL) took a bath, shedding 13.7% at 15p, after a reserves and resources assessment report for its Bentley field.
The FTSE 100 index closed five points lower at 6,185.