Today's financial landscape was marked by varied corporate activities, including capital raises and significant strategic shifts. EJF Investments bolstered its capital base through a new zero dividend preference share issue, while Medpal AI concluded its ATM facility after securing nearly £2 million to expand its online pharmaceutical subsidiary. In broader corporate moves, Secure Trust Bank completed the strategic sale of its Consumer Vehicle Finance business, and Ikigai Ventures provided an update on its acquisition progress; however, Oxford Biomedica announced the termination of potential takeover discussions following EQT's offer withdrawal. Separately, a substantial share sale by a Person Discharging Managerial Responsibilities was also reported.
Investment firm EJF Investments EJFI has completed an issue of equity, selling 2,650,000 2029 zero dividend preference shares. Priced at 106.625 pence per share, this fundraising move increases the company's issued ZDP share capital to over 24 million shares. The capital raised could be deployed into new investment opportunities, affecting future returns and financial leverage.
Medpal AI MPAL, a digital health and artificial intelligence company, announced the closure of its At-The-Market equity issuance facility, having raised total gross proceeds of approximately £2 million. The latest tranche brought in £303,355.50, with shares issued at an average price of 5.01p. These funds are strategically allocated to its newly established online pharmaceutical subsidiary, MedPal Limited, for increased stock, product expansion, and marketing to fuel business growth.
Secure Trust Bank STB announced the completion of the sale of its Consumer Vehicle Finance business to LCM Partners. This follows previous announcements and signifies a notable step in the bank's strategic repositioning. The company intends to provide an update on its strategic plans and capital allocation, alongside its 2025 full-year results, on March 12, 2026.
Supermarket giant Tesco reported that Guus Dekkers, a PDMR, executed a significant sale of company shares. The transaction involved 233,727 ordinary shares, sold at a price of £5.000 each, amounting to over £1.16 million. Large insider share sales often draw attention from investors, seeking to understand potential implications for the company's outlook.
Ikigai Ventures IKIV, a special purpose acquisition company, offered an update on its planned acquisition of Dotlines Global and Audra Solutions, an international technology and telecoms group. The company stated that the proposed transaction is progressing, with financial, legal, and regulatory workstreams nearing completion. The goal is to position the enlarged group for admission to AIM, signaling a significant strategic step.
Oxford Biomedica OXB, the gene and cell therapy company, confirmed that EQT does not intend to proceed with a possible cash offer. This announcement follows several proposals from EQT, which the Oxford Biomedica board considered carefully. The withdrawal of the offer under Rule 2.8 of the City Code on Takeovers and Mergers ends recent acquisition speculation for the company.