Aggreko (AGK) shares jumped 36.79% to 868.5p as it is approached by consortium
The FTSE 250 Group, a supplier of temporary power generation equipment, has been approached by a private equity consortium about a potential £2 billion takeover deal.
According to Sky News, it is understood that TDR Capital and I Squared Capital have tabled a joint takeover proposal to Aggreko at a substantial premium to the c.645p price on Friday mid-afternoon. Analysts say the 880p-a-share offer would value the business at £2bn.
In a statement released this afternoon, The Board of Aggreko informed investors that, “Discussions between Aggreko and the Consortium are ongoing. There can be no certainty either that an offer will be made or as to the terms on which any offer might be made.”
Clear Leisure (CLP) shares soared 49.11% to 0.835p after ‘making progress’ with investments
The investment company said on Monday that it continues to ‘make progress’ with its investments. Firstly, the group said the court in Bologna has chosen to continue its £0.91m legal claim against the previous management of Sosushi through an arbitration process.
The statement outlined that the arbitration process formally commenced on 18 January 2021 with it notifying the Chairman of the Monza Guild of Accountants requesting to appoint three independent chartered accountants to preside over the arbitration process.
The board expects the arbitration process to be complete within one year of the appointment of independent accountants, adding that the group is “confident with the strength of its case.”
In its update released on Monday, Clear Leisure also reported to investors that it was making progress with its investments in Mediapolis, ForCrowd, Eufingest and Miner One.
“Despite the difficult operating environment consequent upon the Covid pandemic, we have managed to make progress with legal actions, as planned; have completed the restructuring of our debt and have continued to focus on every aspect of the investment portfolio,” commented Executive Chairman and CEO of Clear Leisure, Francesco Gardin.
Journeo (JNEO) shares jump 17.48% to 80p as extended partnership bodes well
Since the start of December 2020, shares in the group have increased by over 75% in value. Last week, the information systems and transport technical services group announced that it has secured a one-year extension to an existing framework agreement with First Bus UK.
The extension, which will continue to March 2022, is expected to generate £1.8m in revenues, and includes the provision of systems and services for new and existing vehicles along with a further 800 connections into Journeo's Software as a Service application.
Midatech Pharma (MTPH) shares rose 16.22% to 43p and gain over 30% in one week
Shares in the biotechnology group have gained over 30% in value in the last week alone. The Group released a business update last week in which it stated that it continues to expect to have sufficient working capital in order to fund operations into the fourth quarter of 2021.
"In a year that posed challenges for everybody, I am particularly proud of how Midatech was able to pivot away from a single product focus towards a more broadly-based collaborative strategy - a strategy which is gaining traction,” said CEO and CFO, Stephen Stamp.
Midatech’s Q-Sphera R&D pipeline has expanded to a net five active projects with ‘all proceeding to plan’. It now hopes that this will provide more partnership opportunities.
The group also cited the ‘encouraging survival data’ from its Phase I study of MTX110 in DIPG or diffuse intrinsic pontine glioma, a type of brain tumour found in the brainstem. A re-evaluation of the MTX110 programme has moved the clinical trial programme to the US.
Both the Phase I/II study in DIPG and the Phase I pilot study in GBM are now expected to begin enrolment later this year with completion expected in 2023 and 2022, respectively.
Sirius Real Estate (SRE) shares dip slightly 3.13% to 90p while business maintains ‘strong’ levels of rent collection
Despite dipping during Friday afternoon trading, shares in the property company have gained over 30% in the past two months with rent collection overall remaining ‘strong’.
Last week, the Group said the ‘strong’ levels of rent and service charge collection had continued throughout the pandemic with Sirius collecting 97.7% of rent and service charges billed in the first nine months of the current financial year (1 April - 31 December 2020).
In the entire 2020 calendar year, the Company recorded a cash collection rate of 98.0% and has written off just €0.205m out of total rent and service charge invoicing of €141.2 million.
It said cash collection rates for last month are in line with previous months with 94.3% of rent and service charges billed received, compared to 95% for the same month in 2020. It said it continues to generate sales in line with previous months whilst enquiry levels for the month of January 2021 are around 20% in excess of those generated in January 2020.