A look at the day’s major movers, including Carclo, IXICO, Powerhouse Energy, OnTheMarket and Nichols
() saw its shares top the market gainers on Monday, leaping nearly 77% higher to 1.15p after the global learning and skills development partner, announced the sale of its Malaysian business, to AAA Management Science Academy PLT for a total cash consideration of MYR 400,000 (about £75,000).
The group said the cash consideration will be payable over a 13 month period and will be used towards the repayment of an existing bank loan in Malaysia, with the proposed transaction expected to complete on 31 December 2019.
Sam Malafeh, the chief executive officer of Malvern, said: “We are pleased to have agreed the sale of the Malaysian business, which will now allow us to focus on growing our core operations in the UK and Singapore.”
12.30am: motors after it completes exit from Wipac business
PLC (), the manufacturer of injection moulded plastic parts, hardened 39% to 14.6p after it completed its exit from the Wipac business.
The business has been put into administration and most of its assets have been bought by a subsidiary of Wuhu Technology for £10.5mln.
The net proceeds from the sale will be applied by the administrators to reduce the outstanding liabilities owed to the creditors of Wipac Limited. About £3.5mln of the net proceeds will be paid by the administrator to the ‘s pension scheme and roughly £5.0mln will be used to reduce the outstanding drawn balance…