Simigon (AIM:SIM), the training specialist, has moved a step closer to its proposed merger with Maxify Solutions.
The deal, which values Simigon (AIM:SIM) at US$8.5mln, prompted 4% shareholder Gal Erez to apply for a restraining order to prevent the cancellation of the company's shares on AIM.
This week, though, Simigon (AIM:SIM) announced Erez has withdrawn his application, and it expects the merger to be completed on 28 March.
A lawsuit in the Tel Aviv District Court remains in place, however, the company said.
Shares in Simigon (AIM:SIM) were this week’s best performers, doubling in price.
Conroy Gold and Natural Resources PLC (AIM:CGNR, OTC:CGDNF) soared 52% after it announced a step-out drilling programme on the Clontibret gold target.
The programme is part of the joint venture with Demir Export to further explore and develop the new district-scale gold trend discovered by Conroy Gold along the Longford-Down Massif in Ireland
The initial programme will comprise eight drill holes totalling about 3,000 metres and is anticipated to commence in late April 2022.
The battered share price of estate agent Purplebricks PLC is looking a lot healthier after a show of support from the company’s directors and their associates.
Sharon Pindar, the wife of the company’s chair Paul Pindar, purchased 112,500 shares at a price of 15.75p per share and a further 587,549 shares at a price of 18.19p per share.
Elona Mortimer-Zhika, a non-executive director, purchased 37,500 shares at a price of 15.75p per share and a further 205,650 shares at 18.19p a pop.
Finally, senior independent non-executive director Simon Downing purchased 1,000,000 shares, paying 16.3p per share.
ValiRx PLC (AIM:VAL), a life science company focusing on early-stage cancer therapeutics and women's health, is looking to save a few bob by bringing in the testing of its early-stage projects in house.
The company is considering acquiring capabilities and infrastructure to create a more efficient and effective translational drug development service. As well as handling the company’s own testing, the new unit would offer its services to third parties.
The idea found favour with the market, as the shares rose by a third this week.
Also up by a third this week on news of a subsidiary was EQTEC PLC (AIM:EQT), which has launched a French unit that will collaborate with French company SEPS SAS to develop contaminated waste treatment plants.
Bezant Resources PLC (AIM:BZT) said authorities in the Philippines have renewed the mineral production sharing agreement for the Mankayan Project for a further 25 years, calling it a "catalyst" for the development of the copper-gold property.
Crescent Mining is developing the porphyry-hosted deposit. It has begun the feasibility study process and has engaged contractors to complete the scoping phase. The next step is a drill campaign that will assist with the geotechnical studies.
Bezant, which has an interest in Mankayan via a 27.5% holding in Australian company IDM, said it was "very pleased" the production sharing agreement had been renewed; so were investors, as they chased the shares 24% higher.
OptiBiotix Health PLC (AIM:OPTI) jumped 23% this week as it unveiled plans to list its ProBiotix Health arm on the Aquis Growth Market, raising £2.5mln in the process for the newly independent business.
It was a busy week for Mobile Streams PLC (AIM:MOS), which announced its half-year report, an acquisition, a share placing and a proposed partnership.
The share placing was at 0.3p and was largely responsible for the shares plunging 21% this week to 0.305p.
The £1.2mln raised will finance its share of a joint venture with esports gaming company Gfinity PLC (AIM:GFIN)..
Half-year revenue rose to £281,000 from £176,000 in the second half of 2020. The loss before tax widened to £640,000 from £353,000 the year before.
It was a decent week for two tiddlers hammered in the wake of Russia’s invasion of Ukraine.
Amur Minerals PLC, which is focused on base metal projects in the far east of Russia, rose by a third this week while Eurasia Mining, which operates the West Kytlim mine in the Urals and the Monchetundra project in northwest Russia, ended the week 30% higher.
Finally, SpectrumX, which is tapping the healthcare and commercial potential of hypochlorous acid, has fired the starting pistol on a London listing.
It is understood the group has submitted its prospectus to the London Stock Exchange ahead of a float in late spring, targeting a valuation of around £50mln.
Sources suggest that a £10mln pre-IPO round is largely complete, with the group looking to bring in circa £5mln at the time of the company’s stock market debut.