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

13:40 Allergan announces $2bn share buyback, CFO to retire

Dublin-based biopharmaceutical group Allergan said it has authorised a new $2bn stock repurchase programme and affirmed its commitment to increasing its cash dividend yearly on Monday as it announced the departure of its chief financial officer.

13:13 Asia report: Markets mixed as investors digest New Zealand, Germany elections

Markets in Asia finished mixed on Monday, with investors given plenty of political news to digest after general elections in both New Zealand and Germany over the weekend.

13:05 Warehouse REIT buys four industrial estates in first deal after IPO

Specialist warehouse investor Warehouse REIT announced its first pipeline acquisitions on Monday following its admission to AIM last week.

13:02 Aldi posts record sales but profits drop on price war

German discounter Aldi reported record sales for last year on Monday but profits fell as the company continued to invest in prices and infrastructure.

12:53 Ultra Electronics wins £37m contract with BAE Systems

Ultra Electronics said on Monday that its Staffordshire-based PMES business has won a £37m contract with BAE Systems Maritime-Submarines in relation to a UK naval defence programme.

13:51 Japan's Shinzo Abe calls snap elections, seeks constitutional reform

Japanese Prime Minister Shinzo Abe has called early elections, citing the need for a new mandate in order to deal with the crisis on the Korean peninsula and for constitutional reform to strengthen the country's military.

12:42 Europe midday: Single currency slips on news from Germany, Spain

European stocks were trading on a mixed note following a weak showing for Germany's two mainstream political parties in elections held at the weekend, amid news of possible delays in the approval of the Spanish government's 2018 Budget Law, which sent the single currency scurrying lower.

12:15 Blenheim Natural Resources raises £900,000 in placing

AIM-listed Blenheim Natural Resources has raised £900,000 before expenses through a placing of 200m shares at 0.45p each.

12:14 London midday: Stocks off lows as sterling slips versus dollar

London stocks were down but off earlier lows by midday, helped along by a weakening of the pound versus the dollar, although the currency remained firmer against the euro after Angela Merkel secured a fourth term as German chancellor but with the tricky task of setting up a coalition.

12:13 Volkswagen eyeing cobalt contracts to accelerate electric vehicle swerve

Cobalt suppliers are working on potential long-term contracts with Volkswagen as the car manufacturer looks to pivot towards electric vehicles, boosting potential demand for a metal that is often a key component in lithium-ion batteries.