Rock Solid Images, an oil equipment, services and distribution firm, has received an offer from Thalassa Holdings to acquire up to 25.89 per cent of the company for 0.48p per share in cash. Rock Solid is concerned that Thalassa has provided no evidence that they will bring any "added economic or industrial assistance to the business in the next phase of the company's development". With regards to their own shareholdings, the directors do no propose to take up the offer.
ValiRx, an AIM-quoted life science company, has conditionally raised £0.9m (before fees and expenses) following a placing of 200m new ordinary shares at a price of 0.45p per share. The proceeds will be used to further along a number of drug trials and expand its intellectual property portfolio and value. Six of the directors purchased a total of more than 10m of the shares.
Mobile marketing and digital entertainment services firm InternetQ posted a rise in revenue from €37.3m to €50.1m after a rise in the number of users. Adjusted profit before tax leapt 42.2% from €2.3m to €3.3m, leading to earnings per share of €0.12. Cash and cash equivalents on December 31st was €10.6m, including restricted cash of €0.9m. "Mobile device connections have reached around 5.2bn at the end of 2011. Based on an analysis presented by Google this translates to some 3.7bn unique users. There are just 1.2 bn PCs in use worldwide," the firm said.
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Quindell Portfolio, a brand extension company, has acquired a further 47.7% of Ai Claims Solutions, an outsourcer for the management of motor claims. The move takes its stake to around 77.6%. The transaction cost the firm 3.1m pounds. As a result, Quindell has made an obligatory mandatory cash offer to acquire the entire issued share capital of Ai Claims not already owned by the Quindell Group.
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What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
