With US markets in the midst of the Thanksgiving holiday break, corporate news releases are looking thin on the ground, making for a quiet end to the week. Microcap Webis however has had a good start to the day. The company is proposing a delisting of the stock which took a toll on the share price a week ago, but final results published today were far from being problematic. The Webis share price advanced by as much as 75% shortly after the bell before giving back some of those gains.
Bar operator Loungers published an update following yesterday’s news of a planned sale to private equity with another major shareholder putting their support behind the deal. Cannacord’s commitment to the sale means that holders of 41.7% of the company have now committed to the sale. With shares trading very close to the bid price, the market appears to be pricing this in as a done deal. Early gains for the Loungers share price were around 2% on Friday.
The drug discovery company has this morning issued an update noting that whilst it is currently listed on both the London and Australian stock exchanges, it intends to cancel the UK listing in a bid to reduce administrative costs. This is the latest blow to the London market, with Just Eat’s management announcing earlier in the week that they intended to focus on the Dutch listing of their shares. Despite teasing the idea of a potential dual listing in the US at some point in the future, a number of investors are clearly looking for the exit. The Argent BioPharma share price is currently trading around 42% lower.
Most read news on Investegate today
RECOMMENDED CASH ACQUISITION - - TI Fluid Systems (TIFS)
Appointment of Chief Financial Officer - - Invinity Energy Systems (IES)
Letter of intent from Canaccord to vote in favour - - Loungers (LGRS)
