Futura Medical PLC (LON:FUM), the maker of a breakthrough gel for erectile dysfunction, has unveiled plans to raise £12mln.
It will do so via what’s called an accelerated book-build orchestrated by the City broker N+1 Singer with the shares set to be sold at 57p each.
The cash will be used to commercialise MED2002 (the gel) and to develop its pain relief portfolio.
Strategic Minerals plc (LON:SML) has raised £600,000 in an oversubscribed placing to further its ambitions in Cornish tin and tungsten and a nickel project in Australia.
The cash will last it through until at least the fourth quarter of 2017, the junior miner reckons.
Arian Silver Corporation plc (LON:AGQ, CVE:AGQ) updated on progress, saying it has been given more time to decide whether it wants to option Tierra Nueva Mining's (TNM) Noche Buena gold and silver tailings project in Mexico and is in early talks on further acquisitions.
As revealed in August this year, the time given to evaluate the site had been extended to October 28 - now this has been further extended to December 27
Diamondcorp Plc (LON:DCP) shares ticked 2% higher as it unveiled further board changes.
Director Chris Ellis has been formally appointed as independent interim non-exec chairman with immediate effect, the South Africa-focused miner said.
Meanwhile, Neil McDougall becomes a non-executive director also with immediate effect.
Logistics company Stobart Group Limited (LON:STOB) said CityJet is to start operating flights from London Southend Airport next year.
CityJet is expected to fly to 18 destinations from the airport, Stobart announced in its interim results.
In the six months to the end of August revenue from continuing operations clocked in at £65.3mln, up 13% from £57.6mln in the corresponding period of last year.
Underlying earnings (EBITDA) doubled to £20.2mln from £10.0mln the year before while underlying profit before tax soared 252% to £16.2mln from £4.6mln last year. Tight cost controls and enhanced commercial performance should lead to an improvement in EBITDA over the full year, the company said.
Versarien PLC (LON:VRS) subsidiary 2-DTech is involved in a new project to develop a new generation of medical technologies, using graphene.
The project is funded by the UK government’s Engineering and Physical Sciences Research Council (EPSRC), and it aims to explore how graphene can improve treatment of diseases including cancer, diabetes and dementia.
The EPSRC is providing £5.2mln of funding over five years.
eg solutions PLC (LON:EGS), the back-office workforce optimisation company, has bagged a contract in the Asia Pacific region worth around £500,000.
It is the first contract it has signed directly in the region, rather than through its partnership with US company, Aspect Software.