Small caps news round-up

AIM-listed niche pharmaceutical manufacturer Quantum Pharma has promoted Chris Rigg to the role of chief financial officer. The appointment follows the resignation of Martin Such on 7 March.

Shares in AIM-listed Audioboom slid on Tuesday after it posted a wider full year loss for 2015. The spoken word audio on-demand platform said its pre-tax loss for the year to the end of November came in at £7.3m compared with a £3.9m loss in 2014. Revenue rose to £192,000 from £51,000 but net cash used in operating activities increased to £5.6m from £2.4m as the proceeds of an £8m placing in October 2014 were invested in developing the business.

Kolar Gold said on Tuesday that it did not know of any reason for the surge in its share price. At 1537 GMT, shares in the AIM-listed gold exploration and production company were up 37% to 1.23p. Kolar launched a review of its strategic options in December to consider all available opportunities for maximising shareholder value.

Vertu Motors was eyeing up a record year on Tuesday, though the markets didn't quite seem to agree with the board in afternoon trading. The AIM-traded company released a pre-close trading update early in the day, ahead of its results for the year ended 29 February.

Luxury interior furnishings group Walker Greenbank said on Tuesday that it has received an interim insurance payment of £8m related to the flooding last year at its Standfast & Barracks fabric printing factory in Lancaster. The company, whose brands include Sanderson and Harlequin, said the payment was in respect of damage to printing machinery, stock and other business assets and loss of profits.

Tyman, maker of components for doors and windows, has bought Giesse at an enterprise value of €78.9m (£51.39m). The Italian-based company said it believes Giesse, a manufacturer of hardware fo