Small caps news round-up

LiDCO has inked a distribution agreement with partner ICU Medical to sell the LiDCO IM non-invasive hemodynamic monitoring system in the US. LiDCO IM is a specially configured hemodynamic monitor produced exclusively for ICU Medical. It works solely in conjunction with LiDCO's non-invasive module.

Microgen's financial systems business has acquired Infoscreen of Cyprus for €1.8m, its fourth deal in the trust and fund administration sector since December 2014. Cyprus-based Infoscreen and its subsidiary booked revenue of €1.0m in the last calendar year and an operating profit of €0.1m. It has additional offices in Hong Kong and Belgrade.

TT Electronics has replaced its bank debt with a larger revolving facility on more relaxed terms. TT has arranged a £150m multi-currency facility over a five-year term with seven banks, with the margin on drawings reduced and more relaxed covenants including stretching permissible ratio of net debt to EBITDA from 2.75 times to 3.0 times.

KEFI Minerals said the Government of Ethiopia has formally committed to invest $20m for equity in the Tulu Kapi Gold Project. The money would go to roads, power and certain other associated infrastructure required by the project. The investment would see the Government of Ethiopia with an equity interest in KEFI Minerals (Ethiopia) Ltd (KME), a subsidiary of KEFI Minerals that owns and operates the project, of about 20%.

Union Jack Oil said the Wressle oil and gas discovery in Lincolnshire is moving closer to development with a view to beginning commercial production in the second half. The company, which today widened its full year pretax loss to £0.59m from a loss of £0.55m, has an 8.33% interest PEDL180, which holds the Wressle discovery.

InfraStrata has begun drilling the Woodburn Forest-1 well in County Antrim, with Baron Oilowning a 10% interest of Northern Ireland Petroleum Licence PL1/10, in which the well sits. The well would be drilled to 2,000m and target three conventional sandstone reservoir intervals, the Triassic Sherwood Sandstone, Lower Permian Sandstone and Carboniferous Sandstones.

Attractions design, production and fit-out company Paragon Entertainment announced the appointment of John Dobson to the post of chief operating officer on Monday, with the expectation he will join the board of directors in due course. The AIM-traded firm said Dobson has held a number of finance roles, with the last 15 years spent as a managing director focused on upscaling international manufacturing organisations in the UK, central Europe and Asia.

Semiconductor wafer designer and manufacturer IQE announced a new strategic partnership with the imec nanoelectronics research centre on Monday, on Gallium Nitride-on-Silicon technology. The AIM-traded firm said GaN technology offers faster switching-power devices with higher breakdown voltage and lower on-resistance than silicon, making it an ideal material for advanced power electronic components.