News

Shares in Screen Technology plummeted after the large screen display maker said it will require further financing within the next few weeks.

The group added that it continues to explore various financing alternatives.

"The board anticipates that it will be in a position to announce the outcome of the refinancing discussions within the next four weeks," it said in a short statement.

On 6 November, the group entered into a £0.5m loan and trading agreement with Shearline Precision Engineering to provide additional financial resources.

ParOS lost almost half of its value after the technology firm said it has not been able to reach a monthly break even cash position as it failed to secure a major contract.

The group said talks with potential investors have not been successful, adding that it is now considering the sale of, or cessation of trading by, its Parametric Optimization subsidiary.

"While all available options are being considered the company, will undertake an extensive cost reduction programme to minimise cash outflows," said the group.

Information management solution firm SDL announced it has bought Idiom Technologies for $21.7m plus the assumption of debt and working capital of $4.9m.

The acquisition is being financed in part by the drawdown of £9.5m from a new £20m revolving credit facility SDL has recently signed, and in part from its own cash resources.

"The acquisition of Idiom will complement SDL's existing solutions and will provide customers with enhanced applications, backed by the global presence and stability," said chairman and chief executive Mark Lancaster.

TFB Mortgages has decided not to take up its option to convert its £10m loan to business class-only airline Silverjet into Silverjet shares at 60p per share.

Shares in Regen Therapeutics moved higher Monday after its CogniSure drug, already marketed to support healthy brain ageing in humans, has been shown to work on cats and dogs as well.

A number of pet owners whose animals participated in tests said their pets showed an increase in appetite, water consumption and an improvement in coat condition.

Percy Lomax, chairman and chief executive officer of ReGen said "These results show a potential benefit for aging cats and dogs and we are entering into discussions with potential licensees. The full results are being written up with a view to publication in a peer-reviewed veterinary journal."