Small caps news round-up

Paraguay- and Argentina-focused President Energy upped its daily production rate by 15% to 490 barrels of oil equivalent per day in 2015 in what it described as a challenging year due to macro and micro headwinds. The oil and gas exploration and production company swung to a full-year pre-tax loss of $18.7m, from a profit of $14.3 million. Revenue from continuing operations was $10.1m, from $12.6m, reflecting lower average oil prices.

Arbuthnot Banking Group intends to cut its stake in Secure Trust Bank to 20%, from 51.9%, by selling about 5.8m shares in the company at a discounted £25 each. The share sale, via a secondary placing to institutional investors, would generate gross proceeds of about £145m for Arbuthnot, it said. The price of £25 a share was at a 10.7% discount to the 26 May closing price for Secure Trust shares.

Atlantis Resources has swung to a full-year pre-tax profit of S$4.3m, from a loss of S$16.2m, largely as a result of the gain from the acquisition of Marine Current Turbines. The results saw revenue almost halved to S$2.9m, from S$5.3m, but this was more than compensated for by S$27.9m of “other gains,” from S$1.1m a year ago.

Goals Soccer Centres has appointed Mark Jones as its chief executive. He joins the operator of outdoor small-sided soccer centres’ board on 1 July.

Nature Group says it still has work to do as it posted a wider full-year pre-tax loss of £2.41m, from a loss of £1.44m, even as revenue firmed to £16.27m, from £14.33m. Chairman Berend van Straten said that 2015 was a year in which the group has started to transform, both organisationally and commercially.

Pinnacle Technology has bought cloud based IT services provider adept4 for £5.5m. The AIM-listed company said the acquisition was funded through the issue of £5m of unsecured loan note to its business growth fund.