Hot small caps - Meldex falls on financing concerns
LONDON ( Reuters) - Following is a round-up of key small cap movers on the London stock market on Friday.
13:40GMT -Meldex falls on financing concerns
Shares in speciality drug company Meldex MDX.L tumble 14 percent to 10 pence on financing concerns as it announces two directors have sold shares at 7.5 pence each to raise cash which is being lent back to the company as a bridge loan.
"This is clearly highlighting a concern that there are financing issues at the company, it's an unusual thing to do," says Robin Davison, analyst at Edison.
The company has also signed a term sheet with an investment company to inject up to 3 million pounds ($4.71 million) by way of a debt facility to the company.
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