Software firm K3 Business Technology Group has received a number of indicative proposals at levels materially higher than the current share price, which it will explore these under a formal sale process and is now consequently in an offer period. Shares in the firm leapt 21.75 percent to 187.50p.
Densitron, an information display systems manufacturer, has announced that the landlord of premises previously occupied by the firm's form subsidiary, Densitron Ferrograph, located near Newcastle, has instigated legal proceedings against the company. The landlord is seeking to make Densitron Technologies the tenant under the lease and involves a claim of around £300,000 in unpaid back rent. If the action were to succeed there would also be a liability for unpaid past business rates of approximately £70,000. Densitron intends to "defend the claim vigorously" but at this time the outcome cannot be forecast with any level of certainty. Shares lost 20.45% to 8.75p.
Penny stock Physiomics, a systems biology company, has signed a new agreement with a major global pharmaceutical company. Under the agreement, Physiomics will determine the optimal dosing and timing of a new compound currently under development by client, in combination with irradiation therapy. The project will be performed on a fee-for-service basis. Shares rose 0.09% to 0.36p.
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Hardy Oil and Gas, an exploration and production company focused in India, has appointed Ian MacKenzie as Chief Executive Officer designate to replace Yogeshwar Sharma in mid May. At this date, Sharma will become a non-executive director of the firm. Shares were 2.5% higher at 153p.
Sarantel Group, a mini antenna maker, has agreed a £2m secured loan facility with HSBC, which it hopes will allow it to reach profitability. The facility is interest only and available for a two year term and can be drawn down in stages. The interest is 3% per annum over the Bank's sterling base rate, payable every quarter. Shares gained 18.85% to 0.72p.
Expansys, a consumer wireless technology retailer, has announced that its eCommerce subsidiary, PJMedia, has won a contract to provide mobile capabilities to the Information, Communication and Technology (ICT) Ministry in Qatar. PJMedia will design, develop and implement the capability for Qataris to interact with their government by mobile, across a wide number of applications and processes such as visa status, parking fines, citizen feedback and information dispersal. Shares rose 5.81% to 2.27p.
Lo-Q, the AIM-listed provider of virtual queuing systems for theme parks, water parks and major attractions, has signed a new US customer for its water park product Q-band. Zoombezi Bay, has signed a five year agreement with Lo-Q to install and operate its Q-band water park ride reservation system. The contract marks the eleventh water park to contract Q-band, which was launched late 2011. Shares rose 5.05% to 270.50p. The stock has gained over 85% in the past year, equivalent to 125p.
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