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Breakfast News - Polarean Imaging, Tissue Regenix, AFH Financial and more...

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AIM:

Total number of AIM Companies (Incl Susp):

922*

Total number of AIM Companies trading:

851*

*as at close of business  09 November 2018

Standard List**  of Main Market:

Total number of Standard List Companies

(Incl Susp):

138*

Total number of Standard List Companies trading:

120*

*as at close of business 09 November 2018

NEX Growth Market:

Total number of NEX Growth Market Companies (Incl Susp):

88*

Total number of NEX Growth Market Companies trading:

86*                

*as at close of business 09 November 2018                           

*A corporate client of Hybridan LLP

**  Standard Listing as defined by Hybridan LLP to be a business with strictly operational activity

                       

Dish of the day

Gresham House Energy Storage Fund, has joined the Main Market today raising £100m, the Fund will be managed by the New Energy division of Gresham House Asset Management, the specialist renewable and storage asset manager.   

Off the menu      

No Leavers Today              

Banquet Buffet

Polarean Imaging (LON:POLX) 17.5p £13.33m

The Company announced that it has entered into a licencing agreement with Duke University for patents related to an entirely new use for hyperpolarised gas imaging in the field of pulmonary vascular disease ('PVD'). This opens the potential for Polarean to address an additional unmet medical need in diagnosis and monitoring of cardiopulmonary conditions. 

Duke University has recently patented a method of using hyperpolarised gas MRI in a novel, non-invasive manner to quantify pulmonary vascular pressure, potentially eliminating the need for the costly and invasive catheterisation required to confirm PVD and monitor its progression. 

The licencing agreement with Duke University grants Polarean exclusive rights to the technology, and the Company will work with Duke to drive this new technology towards clinical use and regulatory approval. This license further strengthens the previous licensing of Duke's 3D gas exchange imaging technology to provide a complete diagnostic suite that addresses a critical unmet need in the care of patients with PVD.

Andalas Energy (LON:ADL)  0.95p £3.47m

Andalas Energy and Power, reported that Corallian Energy Limited, the Exploration Operator for Licence P1918, has informed the JV partners that the Department for Business, Energy and Industrial Strategy, Offshore Petroleum Regulator for Environment and Decommissioning (OPRED) has advised the Oil and Gas Authority of its in principle agreement to the issue of the relevant consent for the Colter well, in which Andalas has an 8% interest.

There are several regulatory approvals and notifications still required before the consenting process is completed for the work programme. When all the necessary approvals have been obtained, Corallian expects to commence a two-well work programme, with the drilling of the Wick well (in which Andalas does not have an interest) expected to commence during Dec 2018. Following completion of the Wick well, the rig will be mobilised from the Moray Firth to the English Channel to drill the Colter well.

EVR Holdings (LON:EVRH) 5.75p £79.47m

EVR Holdings, the leading creator of virtual reality music content and operator of the MelodyVR platform, announced that it has entered into a content licensing agreement with Anomaly Partners LA, LLC. Anomaly is a leading advertising agency with offices in Los Angeles, New York, Toronto, London, Amsterdam and Shanghai.

As part of the agreement, MelodyVR will license a number of its assets, such as VR content (including audio recordings and audio-visual footage), images and music, in addition to the MelodyVR brand assets such as, logos, trademarks and other distinctive brand features of MelodyVR. The assets will be licensed for exploitation across various platforms including television (broadcast, cable, satellite and on-demand), industrial (including cinema), digital/online media, social media and OOH advertising.

As part of the agreement MelodyVR will receive a material revenue contribution in respect of the licensing fee and has received a number of marketing commitments from the advertiser; Facebook Technologies, LLC.  MelodyVR will provide further updates as the advertising campaign progresses.

Frenkel Topping (LON:FEN) 27.5p £19.28m

Frenkel Topping, a specialist independent financial advisor and asset manager focussed on asset protection for vulnerable clients, made the following trading update:

The Company announced that trading has been positive year to date and as a result the Company is currently trading in line with management expectations for the full year to 31 Dec 2018.

The Company has benefited from a number of new asset management and expert witness mandates, secured in the second half of the financial year. These wins reflect the significant investment made by the Company over the last 12 months, including the launch of the Frenkel Topping Training Academy to deepen its talent pool and nurture home grown skills.

Frenkel Topping's Expert Witness revenue has exceeded its annual target, an encouraging indication of future AUM growth as it enters 2019 and beyond. The complete pre-settlement service provides expert witnesses to work with clients with personal injury and clinical negligence damages settlements.

One Media iP (LON:OMIP) 6.42p £8.71m 

One Media IP Group, the digital media content provider that exploits intellectual property rights around music, video and copyright technology, provided the following update on trading.

At the time of the Company’s Interim Results, the Board reported continued strong trading and healthy cash position. Following the recent successful fundraising, the current period is pivotal as the Company continues to exploit and take full advantage of the ongoing shift towards streaming.

Before related fundraising transaction costs, the Board is pleased to report that trading is in line with expectations for the year ended 31 Oct 2018.

Coral Products (LON:CRU) 10.75p £8.47m

Coral Products, a specialist in the design, manufacture and supply of plastic products based in Haydock, Merseyside, announced that further to the Company's announcement of 8 Aug 2018, the Company's Haydock Mouldings Division has received a further order of £795,000 in relation to the supply contract for totes for the customer's UK fulfilment centres.

The previous extensions have had a positive effect on sales and performance at Haydock Mouldings, and the further orders are expected to continue this trend into the fourth quarter of Coral's current financial period ending on 30 April 2019.

Tissue Regenix (LON:TRX) 7.75p £84.95m

Tissue Regenix Group, the regenerative medical devices company announced that its subsidiary 'CellRight Technologies', has entered into an agreement, effective immediately, allowing Arthrex, Inc. to distribute its proprietary 'BioRinse' bone portfolio throughout Europe, with the initial focus on the UK.

This new agreement builds on the existing US relationship signed in March 2018 and is a direct result of   the collaborative work that Arthrex and Tissue Regenix have been undertaking to evaluate additional business opportunities.

Sareum Holdings* (LON:SAR) 0.78p £22.29m

Sareum, the specialist small molecule drug development company, announced the appointments of Michael Owen, PhD and Clive Birch as NEDs.

Michael Owen (67) has worked in biomedical research, and in the pharmaceutical and biotechnology industries for nearly 40 years. He is the co-founder and first CSO of Kymab Ltd, a biopharmaceutical company based in Cambridge, UK, prior to which he worked for GSK where he was SVP and Head of Research for Biopharmaceuticals R&D.

Clive Birch (65) is an Independent NED of Cambridge Innovation Capital plc, a Cambridge-based builder of technology and healthcare companies. He is a retired partner of PricewaterhouseCoopers where his role was that of an auditor and reporting accountant with an industry specialism in early stage technology and healthcare companies. 

AFH Financial (LON:AFHP) 393p £165.58m

The Board of AFH, a leading financial planning led wealth management firm,  announced the completion of the acquisition of CWP Financial Services Limited based in Ashford, Kent. Following the acquisition Bob Perry will retire and the clients of CWP will be serviced by existing AFH advisers.

Under the terms of the acquisition, the maximum purchase price is £0.89m based on the ongoing recurring revenue of the business subject to the fulfilment of certain financial targets.

 

The initial consideration for the acquisition is £0.47m in cash, funded from the Company's existing cash resources. Further deferred consideration will be payable in cash over the next 26 months in two tranches, dependent upon performance criteria of the business acquired.

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