Movers of Friday 28 January 2022

Francesca Morgan
Market Report
16:32, 28th 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.

CTEC price chart

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.

ADV price chart

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.

OPP price chart

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.

TYM price chart

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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