Small caps round-up: Arena, RedHot Media, Vp...
Feb 10, 2012
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Gene-based biopharmaceutical company Oxford Biomedia has announced that its Chief Financial Officer (CFO), Andrew Wood, has stepped down and will be replaced by Tim Watts with immediate effect. Watts has over 30 years' experience in leading multinational businesses and was most recently CFO at Archimedes Pharma, an international specialty pharmaceutical company.
Race track operator Arena Leisure has reached an agreement with Aldersgate on the terms of a recommended cash offer under which Aldersgate will acquire the entire share capital of Arena. It is expected that the Scheme will be implemented in March 2012.
Asian advertising group RedHot Media has issued 701,327 new ordinary shares at a price equivalent to 32p per share and paid 2,235,381.81 renminbi for the amended deferred consideration which is payable by the company in relation to the acquisition of In Motion Media. Both firms have agreed to renew ther terms of their agreement for one year, which will be reviewed annually.
Equipment rental business Vp has announced plans to purchase up to one in every 14 ordinary shares at 254p each by way of a tender offer. If the maximum number of 3,088,786 shares is acquired under the offer, this will result in around £7.8m being paid by Vp to participating shareholders.
Top Level Domain Holdings, a company focused on acquiring and operating new generic top-level domains, has conditionally placed 109,468,353 new shares at 8.25p each to raise just over £9m before expenses. The proceeds will be used to provide additional working capital and in particular, to fund the application slots and subsequent fees for new generic top-level domains on behalf of itself and clients of Minds + Machines.
Both full cell technology developer Ceres Power and Ceramic Fuel Cells, a developer of high efficiency and low emission power products, have welcomed the UK government's announcement of an increase in the feed in tariff for micro power and heating products. These include Ceramic Fuel's BlueGen product and Ceres's fuel cell micro-CHP product. The government plans to increase the m-CHP feed in tariff from October 2012 from a total of 14.1p to 15.6p.
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