Small caps news round-up

Noida Toll Bridge began contesting a sizeable, unexpected tax bill on Monday, after receiving its 2014 tax year assessment almost a fortnight prior. The AIM-traded company had received a Tax Assessment Order from the Indian Tax Department for the year ended 31 March 2014 on 1 April this year.

Cyber-security specialist Osirium Technologies has agreed a £6m fundraising ahead of a flotation on AIM on Friday. Osirium, which was co-founded by MIMEsweeper's David Guyatt and is chaired by ex-RSA Insurance boss Simon Lee, is being brought to market by broker and nominated adviser Panmure Gordon and will have a market value of close to £16.2m on admission.

Orsu Metals Corporation announced two planned disposals on Monday, along with the cancellation of its shares from trading on AIM in a bid to save costs. The AIM-traded company confirmed it had conditionally agreed to sell its 94.75% interest in the Karchiga project for an initial consideration of $7.75m, as well as deferred consideration of up to $2m based on the recovery of VAT and relief obtained from accumulated tax losses.

Shares in mining minnow European Metals Holdings shot up 43% to their highest point since their London flotation as interest in the lithium sector intensified due in part to excitement around the launch of new electric cars and subsequent demand for lithium-ion batteries. Aussie-listed EMH, which joined the AIM junior market in December, put out a statement on Monday afternoon that it was "not aware of any reason for the movement other than recent general market interest in the lithium sector and in ASX-listed lithium companies in particular".

Onzima Ventures disposed of its 20 million ordinary shares in MX Oil on Monday, making a net gain of £10,176 or 6.8% in the process since investing in March. The AIM-traded company retained four million warrants exercisable at 1p per share for a period of three years.

Juridica Investments told investors to look forward to a bit more cash on Monday, announcing the settlement of two of its investee cases. The AIM-traded provider of strategic capital for corporate legal claims to businesses and the legal markets said one of the cases was a definitive settlement agreement, with gross proceeds expected to be around $65m (£45.6m).

Home energy solutions provider Entu has announced that its corporate development director Darren Cornwall will step down from its board in order to work “on a more flexible basis.” In statement on Monday, the AIM-listed company confirmed that Cornwall will continue to play a key role in exploring and developing acquisition opportunities which have the scope to add value to the Group's product and service offering.

Ron Zwanziger has resigned as non-executive director of EKF Diagnostics with immediate effect. The AIM-listed point-of-care business confirmed the news in a statement on Monday.

AIM-listed life sciences technology group TyraTech has appointed industry veteran José Geraldo Ramalho Barella as non-executive chairman with immediate effect following the resignation of Alan Reade. TyraTech said 60-year old Barella has significant global experience across the animal health, human health, crop protection and chemical industries, having held a variety of senior management and executive positions throughout his career.

James Cropper said it was confident of far surpassing the market's expectations as the specialist paper maker's sales trends from last year have continued in encouraging fashion. Healthily rising revenues in 2015 that were strongest felt at the Technical Fibre Products (TFP) arm, which was not hit by the flooding from Storm Desmond that affected group headquarters in Cumbria, have continued in the final three months of the 53-week financial year to 2 April.