Made.com shares jump another 55.95% to 8.25p as it begins talks with potential buyers
Made.com said on Tuesday it had begun discussions with a number of interested parties regarding sale of the group. Made.com explained it would require funding of £45-70m over the next 18 months to implement its "longer-term strategy of sustainable profitability".
Made.com said interested parties would be invited to put forward non-binding indicative proposals in the middle of October. The company's board will then invite a select number of them to participate in a second phase to conclude "as soon as practicable thereafter".
On 23 September, Made.com announced it would conduct a "formal review of the various strategic options" including a formal sale process amid sharply lower demand due to the cost of living crisis.
Shares jumped 39.82% on the announcement on Tuesday, and another 55.95% today. Shares are up 154% since the announcement.
Poolbeg Pharma shares jump 25.53% to 5.9p as it strengthens IP position around POLB 001 severe influenza candidate
Poolbeg said on Tuesday the US Patent and Trademarks Office had deemed allowable its claim directed to the use of POLB 001 for the treatment of hypercytokinemia aka cytokine storm. Poolbeg expects a formal patent grant "in due course".
Poolbeg currently has a worldwide license for POLB 001 for all uses in humans and is developing an IP portfolio with patent protections covering p38 MAP kinase (mitogen-activated protein kinase) inhibitors for the treatment of severe influenza and hypercytokinaemia. Poolbeg is exploring further IP around POLB 001 to cover new disease areas.
Poolbeg already has US and European patents for POLB 001 with claims to the treatment of severe influenza. These patents will offer protection until at least 2037.
Jeremy Skillington, PhD, CEO of Poolbeg Pharma said:
"We are continuing to expand our global patent protection for our growing pipeline of infectious disease products. We are delighted to receive confirmation from the US Patent and Trademarks office that the main claim is allowable, and we look forward to updating the market when we receive the formal patent grant in due course. Enhanced IP protection of our assets across key markets, such as the US, increases the overall value of these products to potential partners. This is particularly important as we move closer to the completion of our POLB 001 LPS human challenge trial, with initial results expected by year end 2022."
Shares rose 7.1% on the announcement on Tuesday, and another 25.53% today. Shares are up 28% since the announcement.
Mobile Streams shares fall 31.48% to 0.19p on £1.2m fundraise via discounted shares
Mobile Streams announced the completion of a placing to raise £1.2m to support continuing growth, and specifically to enable further NFT (non-fungible token) contracts to be progressed. The placing was arranged by MOS' broker Peterhouse Capital. A total of 666m ordinary shares have been placed at a price of 0.18p/share, representing a 33% discount to the closing price on 5 October.
While the placing has resulted in a notable dilution of MOS' share capital, reflected in today's price movement, it ensures that the company's recent string of large NFT contracts continues. Over the past year, MOS has emerged as a major provider of licensed NFTs, with its NFT division expected to exceed all other revenue streams by end of FY23.
Last month MOS signed a US$3.7m contract with Mexico's Atlante FC, adding to recently finalised Pumas and Mexican National Team deals. In July, MOS announced two major NFT license deals with PAS Kisisel Asistanlik Hizmetleri and Andrea Olmedo Lopez. The company is in discussions for 30 additional NFT deals, and said in today's statement that several are expected to finalise this month. MOS also recently launched its HeroesNFTclub marketplace where NFT cards can be purchased and traded.
On Tuesday MOS announced that its first NFT "drop" (a launch of NFTs) for Pumas football club sold out in minutes. 4,300 cards, utilising 5 players, were sold from US$5 upwards. Total sales from the drop were in excess of $50K. In addition, MOS will receive 5% of any future resale value through its embedded NFT royalty. MOS also said it experienced "just as strong demand" for its initial drop of Mexico National Team NFT cards.
Europa Metals shares correct down 13.16% to 3.3p after jumping 29.91% yesterday on announcement of US$6m farm-in agreement with Denarius Metals
Europa Metals said yesterday it had signed a letter of intent for an option and joint-venture arrangement with Denarius Metals, allowing the latter to acquire up to an 80% ownership interest in Europa Metals' wholly-owned Toral Zn-Pb-Ag project in the Leon Province of Spain in two stages.
In stage one, Denarius will be afforded the exclusive right to acquire 51% of the project's intermediate holding company, Europa Metals Iberia SL, or the project's underlying permit, by spending US$4m on the Toral project over a period of up to three years.
In stage two, Denarius will be afforded the exclusive right to acquire an additional 29% interest for US$2m.
Myles Campion, Executive Chairmand and acting CEO of Europa Metals commented:
"The Board has for some time been evaluating a range of options to advance the Toral Project towards development in a manner that minimises dilution for the Company's shareholders as far as possible whilst also providing exposure to the significant future value inherent in the project."
Shares jumped 29.91% on the news yesterday, but corrected down 13.16% today.