Small cap news round-up

Digital Look WebFG News | 20 Apr, 2017 16:00 | | |

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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

19:37 Lebanon prime minister Hariri retracts resignation

Saad al-Hariri has revoked his resignation as Lebanon's prime minister, according to a local news report on Wednesday.

19:36 Budget: Planning probe spooks builders, mixed reaction for stamp duty cut

A range of new housing policies were proposed by Chancellor Philip Hammond in his Budget statement, including more funds for smaller housebuilder, a probe into potential holding of land by major housebuilders and a stamp duty cut for first-time buyers.

18:28 US open: Shares hold ground ahead of FOMC minutes

Wall Street is holding its ground following the record highs set the day before, albeit amid lighter than usual trading volumes ahead of the Thanksgiving Holiday on Thursday, with investors looking to the release of the minutes of the most recent meeting of the Federal Open Market Committee.

17:24 London close: Stocks higher on UK budget

Shares closed higher on Wednesday as investors sifted through corporate releases as well as the Autumn Budget.

17:10 FTSE 250 movers: Qinetiq boosted by Berenberg note as Thomas Cook tanks

The FTSE 250 index was up around 0.50% on the day in which Chancellor Philip Hammond revealed his budget for the upcoming year.

17:04 Higher margins offset declining sales volumes at Cambria

Motor dealer Cambria Automobiles managed to successfully grow profit and revenue throughout the financial year, as per-unit profits counteracted a slide in sales volumes.

16:58 First production at Texas asset transforms Pantheon Resources into full-cycle energy and power business

Oil and gas exploration firm Pantheon Resources announced "another year of progress" in its full-year results on Wednesday, as it completed the transition from a pure-play exploration company to a full-cycle energy and power business.

16:53 Integrated Diagnostics revenue up 41% despite tighter margins

Egyptian-focused medical diagnostics firm Integrated Diagnostics (IDH) reported an unaudited net profit of EGP 283m for the first nine months of its trading year, as revenue "accelerated meaningfully" in the third quarter.

16:51 Cadence Minerals discovers 21m tonnes of resources at Yangibana project

Mineral resource investment and development company Cadence Minerals issued updates on its Yangibana and Pilbara rare earth projects in Australia, with work set to begin on extensive ferrocarbonite/ironstone veins that had previously been evaluated by drilling in the 1980s.

16:33 Eurozone consumer confidence jumps in November

Consumer confidence in the single currency bloc shot higher in November, according to the executive arm of the European Union.