Tungsten Corp PLC (AIM:TUNG) is in demand after suitor Kofax Inc upped its offer for the company.
US software group Kofax first made an unsolicited bid of 40p a share in cash in December for the electronic invoicing firm, and since then has seen its put up or shut up deadline extended a number of times.
Under the most recent ruling, Kofax had until today to make a firm bid or walk away.
Now Tungsten says it has received an increased offer of 42p a share - worth £53mln in all - with a number of pre-conditions including completing due diligence and receiving a board recommendation from Tungsten.
Talks between the two sides are continuing, and Tungsten said it had not yet decided whether to recommend any formal bid if it emerges. So the deadline has now been extended to 8 March.
Tungsten shares are up 9.79% at 37p.
1.37pm: McBride slides after cost pressures push it into half year loss
McBride PLC (LSE:MCB), which makes own label cleaning and hygiene products, is under pressure as cost pressures muddy its business plans.
Half year revenues fell 10.9% to £323.4mln, and it swung from a £19mln profit to a £14.8mln loss.
It blamed "COVID-19 shocks to the global supply chain and rapid and exceptional inflation of key feedstocks" and said it was in discussions with customers about price rises.
Chief executive Chris Smith said: "The group is experiencing the most extreme inflationary cost environment probably ever to hit this sector. As we progress through the first part of 2022 it is encouraging that we expect the final quarter of our financial year to see our pricing actions getting closer to maturity and the business returning to close to break-even at an EBITA level and cash-flow neutral.
"The outlook is of course heavily dependent on our actions to deliver the outstanding essential price increases currently in discussion with our customers, as well as other external factors such as the development of input costs and other inflationary pressures, and continuing supply chain disruptions."
Its shares have fallen 6.25% to 45p.
12.34pm: Beeks Financial Cloud Group upbeat on outlook after US$2mln banking contract
Beeks Financial Cloud Group PLC (AIM:BKS) has been boosted by a new order which means its revenues will be better than expected.
The cloud computing business said it had signed a five year contract worth an initial US$2mln with a North American bank, for its Proximity Cloud trading product.
It said: "The value of this contract means that the board anticipates revenue for the full year to be slightly ahead of the recently upwardly revised expectations, with the additional profits to be further invested into the offering in order to support the strong pipeline of opportunities ahead."
Its shares are up 3.77% to 165p.
11.37am: System1 Group (AIM:SYS1) drops sharply as it warns on profits after US problems
Another big faller is System1 Group (AIM:SYS1) after it warned full year profits would be lower than expected.
The marketing specialist said total revenues in its final quarter would be around £1mln short of management forecasts, due to "a sudden and unanticipated reduction in the forecast for bespoke consultancy project sales in the US."
It said it was taking rapid action to address this issue, but as a result of the lower consultancy revenues, full year profits would be around £1mln lower than current market expectations.
Its shares are down 32.88% to 245p on the news.
10.43am: Image Scan loses half its value as it warns of full year loss
Image Scan Holdings PLC (AIM:IGE) has seen its shares slump after it warned of full year losses.
The X-ray system specialist said in the first half of the current year, COVID-19 had continued to impact customer spending, the operation of its sales and service functions, its international supply chain, and its staff.
Orders had been delayed, causing the momentum built up in the second half of 2021 to stall.
So it now expects to make a significant loss for the first half.
And it does not believe it will make up the loss in the second six months despite a strong pipeline of orders, since the timing of these deals is hard to predict in the current circumstance.
Chairman and chief executive Bill Mawer said: "It is disappointing that our order intake has stalled in the first half of the year. While international travel for trade shows and demonstrations is still limited, we have a healthy pipeline of new business. However, it will take some time for that business to come through.
"Together with the loss of COVID-19 government support mechanisms, this gives us less confidence in our original expectation for the current financial year. The positive response to the launch of our new products gives us confidence for the longer term but, in the continuing, challenging environment, it has to be expected that it will take a while for order levels to recover."
It's shares are down 50% at 1.5p.
9.47am: Transense Technologies (AIM:TRT) boosted by positive update and share buyback plans
Transense Technologies (AIM:TRT) has seen its shares accelerate after returning to profit and unveiling plans for share buybacks.
The company, which specialises in sensor systems for the automotive, aerospace and industrial markets, said half year revenues rose by 35% to £1.2mln.
After a loss of £0.05mln this time last year, it has now reported a £0.08mln profit.
It was upbeat on the outlook, but said its shares had seen volatile price movements "in response to small changes in the marginal supply and demand for shares, with thin trading volumes in an illiquid market."
So it plans a share buyback programme to "promote the preservation of long term shareholder value."
It said: "The directors are confident that the company can continue to deliver results on a growth trajectory, whilst carrying corespondingly low risk.
"Furthermore, the share buy back programme we intend to propose today will enable the company to acquire shares during any future periods in which market conditions cause any unjustified weakness in the share price."
It must be pleased with today's volatility which has seen the shares climb 5.03% to 83.5p.
8.56am: Bluerock Diamonds shines after new gem discovery
Bluerock Diamonds PLC (AIM:BRD) is sparkling after a new gem find at its Kareevlei mine in the Kimberley region of South Africa.
The company has discovered an11.95 carat diamond which will go to tender later this week with an expected valuation in excess of US$100,000.
Executive chairman Mike Houston said, "This is another excellent discovery that underpins Kareevlei's ability to deliver large high value diamonds.
"Given the stone's size and quality and continuing market buoyancy we look forward to the upcoming tender to build on the success of the January sales, which achieved an average price of US$565 per carat (2021 average: US$465 per carat)."
The company's shares are up 6.9% at 46.5p.
But the shine has come off Petra Diamonds Limited (LSE:PDL, OTC:PDLMF).
Half year revenue rose 49% to US$77.9mln with adjusted earnings up 87%, driven by the sale of exceptional stones and a 16% increase in rough diamond prices.
It said it was well placed for the second half, but a comment that the record revenues from exceptional stones may not be repeated has seen its shares slide 4.2% to 98.67p.