Poundland's proposed takeover of 99p Stores is being referred to a phase 2 investigation by the Competition Markets Authority. It said Poundland had failed to offer any undertakings to address concerns the takeover would result in a substantial reduction in competition.
African Potash has secured funding of £1.2m through a placing of new ordinary shares through Cornhill Capital. Proceeds would enable it to redeem the outstanding convertible securities held by Bergen Opportunity Fund and be used for ongoing working capital needs.
Applied Graphene Materials reports positive preliminary findings following independent performance testing on graphene reinforced polyurethane coatings using graphene produced by the group. The performance testing was undertaken by a globally recognised independent coatings expert.