Small caps news round-up

Paragon Entertainment, an attraction, design and production company, swung to a profit in 2015 on the back of higher revenue. Gross profit grew by 29% from £1.53m in 2014 to £1.97, as revenue increased 10% from £7.7m to £8.5m. Earnings before interest tax, depreciation and amortisation (EBITDA) rose to £238,000 from £84,000 in 2014.

Oil mining company TomCo Energy announced on Tuesday that it has received an update from its technology provider, Red Leaf Resources, containing information which it considers to be material to Red Leaf’s Early Production System capsule, and to its development timetable. The AIM-traded company said Red Lead recently completed a preliminary front-end engineering design (pre-FEED) commercial study for the EcoShale technology on its Seep Ridge lease in Utah.

Property investment company Palace Capital announced on Tuesday that it has exchanged contracts to acquire the freehold of Boulton House, on Chorlton Street in Manchester, for a consideration of £10.95m. The AIM-traded firm said this is potentially subject to a downward adjustment of up to £0.4m for rent guarantees and other costs.

Shares in Metminco fell more than a third on news of an up to $45m equity investment linked to the Los Calatos Copper Molybdenum Project, Peru, by CD Capital Natural Resources Fund III LP. Before settlement of the investment, Metminco entities holding the project would be restructured into a new private operational company, Los Calatos Mining Inc.

Ozima Ventures said its 49%-owned N4 Pharma has produced encouraging initial research about the versatility and durability of its vector technology that could make it suitable for delivering anti-cancer vaccines and other therapies. Initial research findings by a University of Queensland study on N4's vaccine technology's suitability as a vector to help deliver pDNA and mRNA molecules for cancer vaccines and therapeutics has been published on the company's website ahead of the next stage of research.

Servoca reported a strong rise in half-year sales and profits, with its recruitment business driving the improved performance and offsetting headwinds in the education and health care markets. Profit before tax rose 30% to £1.33m on revenue that was 22.5% higher to £34.44m.

Cyan Holdings, a British integrated system and software design company, has bought Connode, a Swedish supplier of wireless communication products, for £6.8m. The sale will be partly funded through a share placing and a subscription. The £6.8m sale of Connode consists of £4.3m in cash and £2.5m in equity consideration.

Bathroom products company Norcros has turned in improved full year profit, revenue and dividend, sending its shares up more than 5%. "The result reflects the successful acquisition strategy and the sustained focus on driving organic growth through market share gain, investment in new products, operational efficiency programmes and geographic expansion," said chairman Martin Towers.