LONDON (ShareCast) - Antenna maker Sarantel said it is confident of its medium term prospects and added that it cut its cash outflow by 19%.
"The board remains confident about the group's medium term prospects particularly as it believes that the mass market adoption of hand portable GPS navigation devices is now beginning to develop," it said.
The group said it has continued to reduce its cost base and has cut its cash outflow by 19% in the second half. At 30 September, the group had cash balances of £2.4m.
It added though that sales for the year remain depressed as highlighted in the interims and are expected to be around £2m for the year.
Stock market operator Plus announced the launch of its new trading and market surveillance technology. In April, Plus entered into an agreement with OMX to build the new platform.
"The company's trading services offering has expanded significantly, allowing investment firms to meet their execution, reporting and transparency needs under MiFID in an efficient and cost-effective manner via PMG's on- and off- exchange quote-driven services," said the group.
Shares in ValiRx jumped after the cancer therapeutics company was granted the European patent for its Nucleosomics technology patent application.
"We are delighted to have received this European patent. It further strengthens the position of our interlinked suite of oncology related diagnostic technologies against a background of strong growth in the oncology diagnostic market," said CEO Satu Vainikka.
Meridian Petroleum, the Aim-listed oil and gas company, has appointed Edward Childers as the chief operating officer, effective from 1st December 2007. Childers is an engineer with over 30 years experience in the oil and gas industry, mainly in the US.
Stephen Gutteridge, chairman of Meridian Petroleum, said: “Our strategy is to build a sizeable US gas production business and Ed's wide experience of drilling and production operations in the US is key to delivering on this goal.”
Amur Minerals rose after it announced positive drilling results from its Kun-Manie nickel copper project. "The drill programme has confirmed the continuity of the Maly Krumkon mineralisation and identified a very thick pod of mineralisation at its centre," said the group.
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