Starting with a small cap, the life sciences company announced to the market this morning that the CEO had resigned following a move by the board to suspend him pending an investigation into his conduct. There are no further details but given the share price languished for much of last year before finally seeing some signs of life in December, resulting in around a 50% gain, the departure has unsettled the market. The SkinBioTherapeutics share price is down 29% in early trade.
An absence of high profile corporate news is keeping our attention on the small cap end of the market today, with internet technology firm GSTechnologies finding itself under pressure. A note issued this morning stated it had failed in mediation and was now taking legal action against parties who sold the company a majority stake in Semnet. Total damages are $4.2m – an amount that was quickly wiped off the company’s valuation although approaching 8.30am the GSTechnologies share price had recovered, trading down just 3%.
The natural resources development company that is big ingo coal mining issued an update this morning advising that it had raised £5m via the issue of new equity at a 30% premium to last night’s closing price. This will clear down the company’s debts and allow dividends to be paid out to shareholders as royalty income grows. The Contango share price was up 44% shortly after the open.
Most read news on Investegate this morning
NatWest Group plc Annual Results 2025 - - NATWEST GROUP (NWG)
