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AIM news
Investors’ recent aversion to risk and a sell-off across the small-cap scene saw the index slump 6.7 per cent to 952.5 points last month, but a hubbub of bid talk has kept investors entertained.
Marketing group Tangent made an approach for larger AIM peer TMN that valued its shares (down from over 90p to a recent low of 33.5p in the past 12 months) at 50p. TMN later received additional interest from several other parties, including its own executive team. Since then, TMN has risen to 53.5p and Tangent has been knocked back from 12p to 9p.
Restructured IT services provider Netstore is talking to possible bidders after losing £266,000 pre-tax in its first half on turnover down £360,000 at £19.7 million. New chief executive Graham Kingsmill’s recent strategic review has led to discussions with several parties. Shares in the company, which fell from 43.75p three years ago to 17.5p last month, have edged back up to 20p.
Acquisitive pharmaceutical services outfit Premier Research, which in November revealed it was talking to some members of its management about a possible bid, has confirmed it has reached the ‘final stages’ of a £1-a-share bid. Premier shares plunged from 2007’s 280p highs to 34p last December and have recovered to 96.75p this March.
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