Vernalis to raise £68.5m 10/02/2012
Drug discoverer Vernalis (VER) is to raise £68.5 million as part of a joint venture with US concern Tris Pharma.
Brainspark takes football stake
As foreshadowed in the latest Growth Company Investor, investment minnow Brainspark is buying into Italian football club AC Ancona.
AIM-quoted Brainspark, steered by Swiss-based Italian fund manager Alfredo Villa, is issuing £1.48 million in shares for 36.6 per cent of Associazione Calcio Ancona, which ranks number four in the Italian Football League’s Serie B. The British company, which recently took a key stake in London stockbroker Daniel Stewart, is paying in two tranches, one now and the second in September, to Investor Unlimited, a company controlled by AC Ancona’s boss Enrico Petocchi.
AC Ancona, which is four points behind the Serie B leader with 13 matches still to play this season, is in the process of raising £2.68 million by the end of June. The football concern, which once fielded Italian striker Dino Baggio, lost £1.89 million in the year to last June on £5.37 million turnover and raised £1.92 million to cover that deficit.
Villa declares ‘with the proper guidance and financial investment, AC Ancona will once again enjoy the accolades this great club deserves’. Brainspark shares, which have traded between 0.85p and 0.1p over the past 12 months, now stand at 0.75p, valuing the company at £7.75 million.
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