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

22:27 Europe close: Stocks edge higher

European markets finished the session slightly higher for the most part, against a backdrop of positive economic data and heavy news-flow news regarding continued deal-making in the corporate space.

17:39 FX round-up: Sterling mixed, prone to volatility as PM May heads Brussels

Sterling had a mixed Thursday as PM Theresa May went to Brussels to unveil to European leaders her allegedly more generous plans for the rights of EU citizens in the UK.

17:26 London close: FTSE scrapes along as PM takes her Brexit show to Brussels

The FTSE scraped along to a lower close as PM Theresa May looked took her Brexit and hung-parliament show to Brussels.

17:01 Commodities: Crude gets a Thursday fillip higher, but downside risk remains

Prices of crude oil got a Thursday fillip higher as investors took some note of recent falls in US inventories, but nonetheless remain mindful of the black liquid's potential for further declines.

16:57 Union alleges serious decline in construction inspections

The Unite union issued a statement on Thursday, confirming it was seeking “urgent meetings” with ministers and the Health and Safety Executive (HSE) after a freedom of information (FOI) request revealed a “sharp drop” in construction inspections.

16:10 EVR virtual reality platform enters global partnership with Microsoft

Virtual reality content creator EVR Holdings announced on Thursday that its subsidiary MelodyVR had entered into a global partnership and ‘Windows Mixed Reality App’ collaboration agreement with Microsoft Corporation.

16:08 FTSE 250 movers: Rotork boosted by upgrade; JD Sports goes ex-div

London's FTSE 250 down 0.1% to 19,664.53 in afternoon trade.

16:00 TP Group added to MOD supplier framework

Specialist services and engineering company TP Group announced on Thursday that it had been awarded listing on the ‘Multi-Participant Framework Agreement’ for technical support (FATS/5).

15:28 Friday preview: Eurozone and US flash PMIs to give early GDP growth reading

The UK corporate diary is all but empty on Friday, with most financial events happening away on foreign shores, with first 'flash' readings of June surveys for the eurozone and US.

15:19 US open: Wall Street little changed as oil prices stabilise

Wall Street's main indices were little changed in early trading as oil prices recovered their footing and against a backdrop of solid readings on the jobs and housing markets.