Claims management provider RiIG said it had secured a contract with a bank to help it administer payouts following the payment protection insurance scandal. The firm said initial indications were the deal would bring in over £750,000 in turnover during the second half of 2012. "There is potential that similar contracts could follow in 2013 and the Group is in early stage discussions with a second leading bank with the view to providing a similar service for PPI claims," it added. Investors pushed RiIG's share price up 11% following the announcement.
JSJS Design rose 6% after it announced a deal to sell its LightwaveRF home automation products through trade retailer Screwfix's website. "In the last nine months we have signed agreements with B&Q, Maplin, City Electrical Factors, QVC to sell our innovative product range," said Chairman Mike Lord.
Advertising technology firm Phorm Inc said it was moving its HQ out of the US to Singapore to "simplify the trading mechanics around the company's shares and enhance their liquidity". It said this would mean a corporate reorganisation to form a new holding company - New Topco - for the group, incorporated in Singapore. As a result of the reorganisation, current shareholders will receive one share of the New Topco subsidiary for each share of Phorm Inc they own. Investors gave the move a thumbs up, pushing shares up 6%.
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Scancell Holdings, a developer of therapeutic cancer vaccines, said regulators had given their approval to increasing the amount of time it can treat people with the DNA ImmunoBody vaccine it has developed to treat melanoma. "This approval...provides our investigators with the opportunity to continue dosing patients whose disease has not progressed...and will allow the company to gather longer term data on late stage melanoma patients for whom the prognosis is poor," said Chief Executive Professor Lindy Durrant. The firm's shares rose 6% on the news.
Parallel Media Group, the AIM quoted sports media and digital agency, said its joint venture in South Korea had successfully staged its first Korean Pop - known as K-pop - concert in Singapore. All 5,000 tickets were sold. The firm said said it had further concerts in the pipeline and was delighted by the early success of this venture. Parallel's shares rose 3% after the announcement.
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