Chain manufacturer Renold (LON: RNO) has received two bid offers one is 77p/share in cash from Webster Industries and the other is 81p/share in cash from a consortium comprising Buckthorn Partners LLP and One Equity Partners IX, L.P. The share price jumped 40.5% to 76.7p.
Telecoms testing equipment supplier Calnex Solutions (LON: CLX) returned to profit in the year to March 2025 as revenues recovered from £16.3m to £18.4m. New product launches helped, as did greater focus on newer markets such as defence and cloud computing. There was a strong fourth quarter and net cash has improved from £10.9m at the end of March 2025. The order book has increased, and Cavendish forecasts an improvement in pre-tax profit from £700,000 to £800,000 this year. That is still well below peak profitability. The share price is 9% higher at 54.5p.
Medical imaging technology company Ixico (LON: IXI) grew interim revenues 26% to £3.2m. The loss reduced. Cash was £5m at the end of March 2025. The order book is £13.1m. Cavendish believes that Ixico can beat its full year revenues forecast of £6m. The share price increased 8.33% to 45.5p.
EKF Diagnostics (LON: EKF) says it is benefiting from its rationalisation process, and this has helped to offset tariffs and unfavourable exchange rates in the US. The pipeline for contract manufacturing and fermentation is improving. Hematology remains the focus of growth. Cash was £15.7m on 9 May and it should grow year-on-year. The share price improved 7% to 26.75p.
Metals One (LON: MET1) has staked 99 additional claims at the Swales god property in Nevada. The phase one exploration programme will be expanded. There will be detailed geological mapping, surface sampling and evaluation of historic workings. The share price rose 3.79% to 40.9975p.
FALLERS
X-ray imaging technology developer Image Scan (LON: IGE) was hit by delays in a defence contract in the first half and revenues slumped from £1.1m to £350,000 and the loss increased to £420,000. Zeus no longer expects a profit this year after reducing its revenues forecast by 37% to £2.2m. The share price slumped 21.2% to 1.3p.
Drug developer Poolbeg Pharma (LON: POLB) is raising £4m at 2.5p/share and could raise up to £100,000 from a retail offer. The cash will last into 2027. It will be spent on th POLB 001 phase 2a trial to “prevent cancer immunotherapy-induced Cytokine Release Syndrome, a severe, potentially life-threatening side effect of cancer immunotherapies”. Topline data is expected by the end of 2026. An Oral GLP-1 proof of concept trial for an obesity treatment. The share price dipped 8.77% to 2.6p.
Alien Metals (LON: UFO) has completed the joint venture transaction with Errawarra Resources, which is changing its name to West Coast Silver. This covers the Elizabeth Hill silver project in Western Australia. Alien Metals retains a 30% stake and does not have to contribute cash until a decision to mine. The share price slipped 7.89% to 0.0875p.
Fintel (LON: FNTL) confirmed at its AGM that it is trading in line with expectations. The provider of services to financial businesses has completed the acquisition of RSMR and gained six new customers after the launch of Matrix360 in the general insurance market. The share price slipped 3.97% to 278.5p.
