Movers of Friday 28 January 2022
ConvaTec Group (CTEC) shares tick up 2.49% to 172.2p as it enters definitive agreement
The global medical solutions company has entered into a definitive agreement to acquire Triad Life Sciences Inc, a medical device firm that develops biologically-derived innovative products to address unmet clinical needs in surgical wounds, chronic
wounds and burns.
The transaction, subject to regulatory approvals and other customary conditions, is expected to close in 1Q22 and would represent ConvaTec’s entry into the wound biologics segment.
Advance Energy (ADV) shares jump 25.53% to 0.295p as it implements cost measures
Today, the energy group said it had implemented measures to reduce costs by over 50% through a number of initiatives, including reducing salaries and Director fees by over 60%.
To support these initiatives, CEO Leslie Peterkin has decided to resign with immediate effect, to be replaced on an interim basis by current Non-Executive Director Larry Bottomley.
Addressing shareholders, the Board informed its shareholders that it is confident that it will enter into an agreement ‘on at least one opportunity’ during its pipeline this calendar year.
Origo Partners (OPP) shares rose 23.33% to 0.185p after selling its Six Waves interests
Today, Origo Partners announced to investors that it has sold its entire interest in Six Waves Inc., a Hong Kong based gaming company, for a total cash consideration of $2.182 million.
The company, which previously invested $240,000 in Six Waves Inc. back in 2012 and had carried the asset at nil, detailed today that it will return to shareholders all excess capital.
Tertiary Minerals (TYM) shares rose 20.00% to 0.215p after passing all AGM resolutions
The mineral exploration and development company, whose focus is on energy transition and precious metals, told investors that all resolutions were duly passed at its AGM this morning.
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