Thursday March 27, 08:40 AM
UK smallcap opening - Ardana rebounds on bid approaches
LONDON (Thomson Financial) - Recently hard-hit Ardana (LSE: ARA.L - news) rebounded 2 pence to 11-1/2 as the pharmaceutical company confirmed
it has received a number of approaches which may or may not lead to an offer for the company, and said the sale process has generated significant interest in potential licensing opportunities for its products.
It (Frankfurt: A0MLX5 - news) is progressing these licensing discussions in parallel with the sale process. However, it will only pursue a licensing deal if it does not negatively affect the value of the company in the view of potential acquirers.
The group sees no reason for the significant fall in its share price since the announcement of proposed sale or merger of the company on Feb 19.
And an upbeat trading statement and AGM approval for the bonus issue provided support for property developer Your Space (LSE: YSP.L - news) , 13-1/2 higher at 107, while shares in Flomerics Group, the simulation software company, jumped 10 to 94 in the wake of a bullish update.
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