Hospitals and clinics operator African Medical Investments has reported a $16.2m loss for the year to February 2010 and says that criminal charges for fraud and theft have been laid against its former chief executive Dr Vivek Solanki and two other former staff members. The loss includes $10.6m of write-downs and losses from financial irregularities. There was still $6m in the bank at the end of February 2010.

Telecoms software provider FTS-Formula Telecom Solutions Ltd reported a swing from profit to loss in the six months to June 2010 even though revenues increased 5% to $10.4m. The swing from a profit of $228,000 to a loss of $582,000 was due to an intangible asset write-down of $1.14m. FTS says the global market is difficult and it is hard to predict the timing of contracts.

Business telecoms services provider Spiritel has won a £5m managed services contract with Punch Taverns. This three-year contract is the largest ever won by Spiritel and covers more than 800 of Punch's 7,100 sites.

Deepdale PNE Holdings says that its 5p a share bid for football club Preston North End will close on 8 September. Deepdale owns 90.47% of PNE.

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African Medical Investments (AMEI) share price