TechMARK movers: Consort still keen on AMS

2nd Mar 2010 14:13

Consort Medical has reaffirmed that it believes that the purchase of AIM-quoted Advanced Medical Solutions "has strong strategic and commercial logic".Medical devices and drug delivery products supplier Consort revealed its interest in AMS last week but the management of the wound care company refuses to enter discussions. It has also blocked Consort's attempt to carry out due diligence. Consort says that any offer for AMS is dependent on due diligence being carried out, the unanimous and unqualified recommendation for the bid from the board and the directors' acceptance of the bid. A bid also depends on Consort obtaining the finance to pay for it. Consort does say that it could waive any of these pre-conditions. Shares in aerospace and defence systems group Meggitt fell after it reported a dip in profit in 2009 and warned of a flat first half of 2010.Revenue fell 1% to £1.15bn in 2009, while underlying pre-tax profit slipped 4% to £234.2m. Increased military sales and currency effects offset the impact of economic downturn on civil aerospace revenuesNet debt was reduced by 23% to £808.6m and the final dividend has been maintained at 5.75p a share. FTSE TechMARK - RisersComputacenter (CCC) 305.90p +5.08%ARM Holdings (ARM) 217.60p +4.07%Dialight (DIA) 265.00p +3.92%KCOM Group (KCOM) 50.00p +3.63%RM Group (RM.) 179.00p +2.29%Visonic (VSC) 90.00p +2.27%Kewill (KWL) 100.00p +2.04%Consort Medical (CSRT) 362.00p +1.97%Corin Group (CRG) 56.50p +1.80%NXT (NTX) 14.50p +1.75%FTSE TechMARK - FallersAlphameric (ALM) 26.50p -4.50%Oxford Instruments (OXIG) 233.00p -3.72%Antisoma (ASM) 32.50p -3.70%Emblaze (BLZ) 40.75p -2.40%Oxford Biomedica (OXB) 10.50p -2.33%Vectura Group (VEC) 63.50p -2.31%Meggitt (MGGT) 283.00p -2.14%Intec Telecom Systems (ITL) 95.25p -2.06%Skyepharma (SKP) 68.00p -1.45%Gresham Computing (GHT) 19.00p -1.30%