TechMARK movers: e2v clarifies Aberforth's intentions

LONDON (ShareCast) - Electronic components manufacturer e2v Technologies has been forced to clarify a statement in its fundraising prospectus. That knocked the e2v share price.

The company is raising £22m from a firm placing at 70p a share and a further £34m from a seven-for-nine rights issue at 28p a share - a 60% discount to the placing price. Investors in the placing will be able to apply for shares through the rights issue.

The prospectus stated that Aberforth was acquiring 6.8m shares via the placing and that it would take up its rights shares. However, this only applies to shares that it is buying in the placing and Aberforth has not given any undertaking in relation to rights over its existing shareholding.

Net borrowings have been cut by £32.1m in the past six months. That still leaves e2v with net debt of nearly £102m. New bank facilities totalling £105m have been negotiated. This facility will be available after the cash call is completed and will last until the end of 2012.

A trade worth £21,183 pushed up the Oxford Instruments share price after 1pm this afternoon. That trade is worth more than all the other trades during the day.

FTSE TechMARK - Risers Trafficmaster (TFC) 34.00p +4.62% Imagination Technologies (IMG) 224.90p +4.31% Emblaze (BLZ) 47.00p +3.30% Oxford Instruments (OXIG) 235.00p +2.62% Phoenix IT Group (PNX) 215.50p +2.62% Innovation Group (TIG) 12.00p +2.13% Axis-Shield (ASD) 410.00p +1.80% Asterand (ATD) 20.75p +1.22% GB Group (GBG) 21.50p +1.18% RM Group (RM.) 150.75p +0.84% Microgen (MCGN) 87.50p +0.57%

FTSE TechMARK - Fallers Alphameric (ALM) 29.25p -5.65% Antisoma (ASM) 33.50p -3.60% Biocompatibles International (BII) 240.00p -3.03% Gresham Computing (GHT) 24.50p -2.97% Cryptologic Ld (CRP) 241.00p -2.82% E2V Technologies (E2V) 72.00p -2.04% NCC Group (NCC) 390.00p -1.89% BATM Advanced (BVC) 53.00p -1.85% Vernalis (VER) 81.00p -1.82% Oxford Biomedica (OXB) 13.75p -1.79%