Date: Tuesday 15 Jan 2013
LONDON (ShareCast) - Medical technology firm Angle saw its shares jump for a second day in a row after it received cash due from the sale of its portfolio company Acoylte Biomedica.
The 2007 sale led to a legal case over an earn-out provision, which saw former Acolyte shareholder, Porton Capital, take the buyer, 3M, to court.
Angle said that following Porton's victory it had received $286,226 - around £178,000 - which would be used to support working capital requirements.
The company's founder and Chief Executive, Andrew Newland, said a strategy of observing the third party action against the purchaser, rather than participating in litigation, meant Angle had avoided substantial legal costs.
The news pushed shares were up 15% in early trading, which followed a 90% leap on Monday after the company announced a major breakthrough in its cancer diagnostic product Parsotix.
MM
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Currency | UK Pounds |
Share Price | 13.75p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 31.40 |
52 Week Low | 9.25 |
Volume | 659,855 |
Shares Issued | 260.58m |
Market Cap | £35.83m |
Beta | 0.05 |
RiskGrade | 312 |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
Strong Buy | 1 |
Buy | 0 |
Neutral | 0 |
Sell | 0 |
Strong Sell | 0 |
Total | 1 |
No dividends found |
Time | Volume / Share Price |
15:10 | 30,000 @ 14.00p |
13:31 | 3,280 @ 13.72p |
12:39 | 666 @ 13.60p |
12:18 | 50,000 @ 13.73p |
12:12 | 40,000 @ 13.70p |
CEO | Andrew D Newland |
Finance Director | Ian F Griffiths |
Chair | Jan Groen |
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