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.
AIM-listed Craneware, the Scottish software company helping US hospitals simplify their billing, was judged the IPO of the Year at the annual Quoted Company Awards, held on 30 January at London’s Grosvenor House hotel. Craneware won for a solid performance, raising £20.5 million, adding 19 per cent to its share price and signing up 96 new hospitals in the six months to December.
The International IPO of the Year award went to dry bulk vessel operator Globus Maritime for gaining more than 70 per cent since its June float. Its shares benefited from two deals signed for $67 million (£34 million) and $43 million. Fire industry supplier AssetCo took the Deal of the Year prize, for its £80 million reversal into Asfare last March (see page 10).
Brian May was deemed Chief Executive Officer of the Year for turning round construction group Renew Holdings, which recently reported annual profits up 55 per cent.
Entrepreneur of the Year was David Jackson, who has transformed staid Booth industries into fast-growing performer Redhall, up from 30p to over £2 during the year.
Finance Director of the Year was fully listed Connaught’s Stephen Hill, for overseeing continued solid growth and several acquisitions. Fellow Connaught director Tim Ross won the Non-Executive Director of the Year prize, for his advice to Ennstone and Lavendon.
Hargreave Hale’s Giles Hargreave won the Investor of the Year award. Proven Growth & Income VCT was chosen as Specialist Investment Vehicle of the Year.
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Drug discoverer Vernalis (VER) is to raise £68.5 million as part of a joint venture with US concern Tris Pharma.
Magnolia Petroleum (MAGP) has acquired 800 acres in the Mississippi Lime formation in Oklahoma.
Gold explorer Condor Resources (CNR) has reported encouraging results from drilling at its La India project in Nicaragua.
US-focused Nighthawk Energy is launching a $7.5 million program to invest in its Colorado-based Jolly Ranch project.
Africa-focused Tower Resources (TRP) has raised £5.4 million via a placing with a mixture of institutional investors and directors.
Beleaguered travel operator Thomas Cook (TCG) has reported a loss of £91 million its first quarter also announcing the sale of its Indian division.