Celsis International, the specialist in rapid microbial testing for the quality assurance market, launched an pounds 11.1m rights issue yesterday to fund the proposed pounds 11.2m acquisition of Lumac, another microbial testing company. At the end of August Lumac had net assets of pounds 2.65m and made profits before tax of pounds 1m in the year to that date. The 3 for 20 cash call is underwritten by Panmure Gordon at 100p a share. Celsis's shares closed 1p lower at 112p.
Stuart Wallis, former chief executive of Fisons, will become chairman of Yorkshire Group from 1 October. He replaces Philip Lowe, who has been chairman since 1987. Michael Greenhalgh, group managing director, said: "Stuart Wallis has a proven track record in the development and implementation of global business strategies. We are especially pleased to have secured his services."
Personal Number Company, which provides a call forwarding service so that individuals or businesses can keep one phone number even if they move, jumped to a big premium on its first day of dealings on the Alternative Investment Market. Placed at 66p, the shares valued the company at pounds 10.2m, well below initial expectations of about pounds 15m. The shares closed at 101.5p.Reuse content