Small cap news round-up

Digital Look Sharecast | 20 Apr, 2017 16:00 | | |

Money coins pound

Natural resources investing company Cluff Natural Resources announced the results of an independent scoping study covering two prospects on its 100% owned licence P2248 in the Southern North Sea gas basin on Thursday.

The AIM-traded firm described the licence as being in a “proven region” which has seen a “significant pickup” in operational and corporate activity.

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Fund management and strategic investor group Braveheart Investment Group updated the market on its trading on Thursday, reporting that it had continued to perform in line with the January 2017 trading update.

The AIM-traded firm said that as a result, the directors expected that profit before and after taxation for the year ended 31 March would be in the region of £750,000.

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Energiser Investments confirmed on Thursday that, further to its announcement on 6 April, the sale of the final unit at the Kingswood Park development had legally completed at the agreed price of £725,000.

The AIM-traded firm said Kingswood Park was developed by Vantage New Homes Red House - in administration.

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Europe and Africa-focussed mineral exploration company Ortac Resources announced on Thursday that it entered into an agreement to form a joint venture with a Slovakian company to jointly develop the Sturec Gold Project at Kremnica.

The AIM-traded firm said the Sturec project had a reserve of just under 900,000 ounces gold equivalent which had progressed to pre-feasibility stage.

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Inspired Energy, an energy procurement consultancy, has completed the acquisitions of Flexible Energy Management and Churchcom for a combined £3.6m.

The AIM-listed company bought Flexible Energy, public sector energy procurement specialist, for £2.2m in cash and the issue of 2.99m new shares.

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AIM-listed investor Reconstruction Capital II has sold Top Factoring Group, made up of Top Factoring SA, a Romanian receivables collection company and the non-performing loan book held by its subsidiary Glasro Holdings, to Intrum Justitia AB for up to €13.11m.

The company received €12.83m on Wednesday, after the repayment of Glasro's bank debts, and is due to receive a further €280,000 on 4 May.

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AIM-listed Digital Barriers has been awarded a contract with a "major" US federal law enforcement agency and existing customer valued at $7.2m.

The company, which provides visually intelligent solutions to the global surveillance, security and safety markets, said the contract is one of several that were in the final stages of procurement at the time of the group's trading update on 24 March.

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Shearwater Group, previously Aurum Mining, is to buy SecurEnvoy, a provider of authentication software, for £20m, subject to shareholder approval at the next general meeting on 8 May.

The AIM-listed technology company will pay £10m in cash and £10m through the issue of 200m shares at a price of 5p each, which is a 17.95% discount on the mid market price on close of trading on Wednesday.

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AIM-listed Redx Pharma has appointed Iain Ross as chairman of its board and as a non-executive director, effective from 1 May.

Ross has over 35 years' experience having held senior positions at multiple public and private life sciences companies and is vice chairman of Royal Holloway, University of London.

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Vipera, provider of mobile financial and retail services, has bought a further 7.12% stake in its subsidiary Codd & Date, as part of its plan to reorganise its customer delivery organisation.

The AIM-listed company now holds holds 58.12% interest in Codd & Date.

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AIM-listed luxury interior furnishings group Walker Greenbank has received a further interim insurance payment of £1.5m following the flood in December 2015 at its fabric printing factory in Lancaser, Standfast & Barracks.

In total, £16.9m of flood-related insurance payments have now been received in respect of damage to business assets and loss of profits.

More news

07:43 Schroders profit up as AuM reach all-time high

Wealth manager Schroders reported a rise in first-half pre-tax profit on Thursday as assets under management grew.

07:43 Revenues slide at AstraZeneca as it announces partnership with Merck

AstraZeneca performed in line with expectations in the first half of 2017, it reported on Thursday, with total revenue falling 11%, or 9% at constant currencies, to $10.46bn.

07:41 Revenues fall at AstraZeneca, Glencore copper production slides

London open

07:33 London pre-open: Stocks seen steady as earnings roll in

London stocks were set for a steady open on Thursday as investors braced for a blizzard of earnings releases and digested the latest policy announcement from the Federal Reserve.

07:26 Thursday newspaper round-up: Housing market, car makers, Facebook, retailers

Ten years on the housing market is still feeling the after-effects of the credit crunch, with existing homeowners struggling to trade up, a doubling of typical first-time buyer deposits, and a “huge gap” between London and the rest of Britain, according to a new report. Property company Savills has found that the global financial crisis – which it considers to have started on 9 August 2007, when the French bank BNP Paribas froze three investment funds – is “still shaping the UK housing market” and will continue to cast its shadow over the sector for years to come. - Guardian

26 Jul US close: Markets higher as Fed hints at imminent unwinding

US stocks finished higher on Wednesday thanks to some well-received corporate news, as investors looked ahead the Federal Reserve statement on interest rates and its balance sheet unwinding.

26 Jul Commodities: Brent rally continues as inventories decline

Brent crude continued its rally higher on Wednesday, fuelled by a reduction in oil inventories from the US, which fell by 7.2m barrels, versus expectations for a smaller drop of 3.3m.

26 Jul Europe close: Stocks end higher amid earnings news; Fed in focus

European stocks ended higher on Wednesday as investors sifted through more earnings and eyed the latest policy announcement from the Federal Reserve.

26 Jul London close: Stocks close slightly higher as ITV rallies; UK GDP digested

London stocks ended Wednesday's session sightly higher following a well-received update from broadcaster ITV and a deluge of other earnings news, as investors digested the latest reading on the UK economy, which met expectations.

26 Jul RBS to offer £775m to encourage SMEs to switch to challenger banks

Royal Bank of Scotland will be required to set up a £425m innovation fund and a £350m scheme to encourage SMEs to switch their accounts, both administered independently with grants paid to challenger banks and fintech companies to boost competition in the sector.