European newspaper publisher Mecom (MEC) jumps 32% to 151.88p after a receiving a takeover offer from rival De Persgroep Publishing. The 155p cash per share offer is priced at a 35% premium to last Friday's closing price. The approach means our running Play of the Week trade on Mecom is now up 121.7% since we said to snap up the media stock last year (31 Oct '13) at 68.5p.
Filtered water specialist Waterlogic (WTL:AIM) rises 8.5% to 115p after effectively putting itself up for sale following an unsolicited approach from one of its subsidiaries. A strategic review is now underway to work out the best way to generate value for shareholders, be it a full or partial sale of the business.
Bucking the trend among the larger housebuilding stocks which sees Persimmon (PSN) among the big FTSE 100 fallers, sliding 1.7% to £12.56, smallcap Mar City (MAR:AIM) surges 4.2% to 124p after the group's trading update assures investors that strong progress in the first half should be matched in the second in its core geographies of the Midlands, London and the South East as increased levels of activity continue to serve strong consumer-driven momentum. Read our web story, 'Mar's modular momentum,' here.
EasyHotels (EZH:AIM) rises 5.6% to 84.5p on its first day as a listed company. The low-cost hotelier raised £30 million last week for its AIM flotation, giving it a large cash pile to fund expansion, predominantly in London and major European cities.
Interims from oil investment firm TXO (TXO:AIM) prompt an 11.6% dive in the shares to 0.199p as post-tax losses widen from $807,642 to $861,819 – in line with internal expectations. The results did not cover the first sale of reprocessed waste oil by portfolio holding Grand Bahama Group.
Postal services software supplier Escher Group (ESCH:AIM) adds 2.5% to 305p as it wins a Middle East contract with Emirates Post Group. No financial details are announced but the deal will run for five years.
Driver monitoring kit supplier Seeing Machines (SEE:AIM) confirms revenues to the year to end June will be around 40% up on the A$12.7 million earned in 2013. But investors focus on detailed growth investment plans and how they might hit profits. The shares slide 6.5% to 5.38p.
A 49% full year revenues jump and reduced losses spark Daily Internet (DAIP:AIM) investors into action, the shares adding almost 7% to 2p.
Cancer-focused biotech Tiziana Life Sciences (TILS:AIM) jumps 16.6% to 49p on licensing 20 stem cell markers from the FIRC Institute for Molecular Oncology and the European Institute of Oncology to develop a breast cancer diagnostic.
Bronchial disease specialist Vectura (VEC) improves 2.6% to 132.6p on licensing its VR506 asthma treatment to an unnamed US company. Vectura receives an initial $4 million and up to $8 million in milestone payments, as well as royalties.
Zotefoams (ZTF) slips 0.6% to 232.5p after the specialist foam producer's trading update appraises investors of high single-digit percentage volume growth in its Polyolefin business. The Croydon-based company also enjoying strong demand in its high-performance products (HPP) division, with growth approaching 50% in constant currency.