(MENAFN- ProactiveInvestors) Shares in AIM-listed Pure Wafer () shot up today after it promised to return an insurance pay-out to shareholders.
The silicon chip recycling company had a fire at its Swansea premises last December but insurers have settled the bill.
It will now receive a cash pay-out well in excess of £10mln but the board isn’t planning on rebuilding the factory.
Instead production has shifted to a sister site in Prescott Arizona meaning that most of the cash pay-out will be dished out to shareholders.
Shares jumped 80% to 104p making it the biggest riser of the day.
In blue-chip news the FTSE 100 was 13 points higher to 6974 led by Lloyds as the government-backed bank reported better than expected results.
In what was another step towards full private ownership the 250-year-old bank said pre-tax profit before one-off costs rose 21% to £2.1bn in the three months to March. Shares jumped almost 7% to 82p.
Meanwhile profit taking at () following yesterday’s gains meant it propped up the index. Shares eased 2.5% to 456p.
The mining sector also pushed higher after data showed manufacturing activity in China continued to grow.
Mining shares were near the top of the index with () jumping nearly 5% to 1158p () rising 4.6% 3017p and more than 3% higher to 1.610p.
In small caps () is acquiring rival voice and data group Centrix in a deal worth up to £10.5mln. Shares were almost 7% higher to 184p
Cloud-based video distribution specialist Rightster () plans to raise in the region of £5mln through a placing of shares. Shares rose more than 5% to 19p.
Fast-growing life sciences company () is to raise around £25mln to fund its ambitious growth plans. Shares eased 4% to 190p.
Meanwhile sensory system expert Transense () has had its technology chosen as part of the new ‘Connected Workshop’ by engineering expert Bosch.
Translogik the tyre management solution division of the company will be used at the entrance check level a 5-minute vehicle health check at garages.
The company will provide a probe which will be able to detect a tyre’s pressure as well as the tread depth.
It then syncs with the rest of the technology used in the full-car testing kit to deliver quick and accurate results.
“It is a great endorsement of their technology but it will take a little while to translate into underlying sales and shipped orders” broker N+1 Singer said.
“There are probably half a million tyre fitting centres in Europe alone and there is quite a big market there that can benefit from Transense’s technology.”
The positive news was marred by the lack of a numerical value on the deal and shares slipped back 3% to 1.55p.
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