Small caps news round-up

Internet and media firm Naspers told shareholders it was finalising its provisional report for the year to 31 March on Wednesday, indicating it expected core headline earnings to be between 15% and 20% higher than last year’s 255 cents per share. The company issued a caveat, however, saying “shareholders are reminded that the board considers core headline earnings an appropriate indicator of the sustainable operating performance of the group, as it adjusts for non-recurring and non-operational items.”

Specialist Investment Properties announced a further property acquisition on Wednesday - the sixth it has completed since implementing its new investment policy earlier this year. The firm said its subsidiary Secta Properties has exchanged on a property in Birmingham, which is to be leased as a children’s home to Meadows Care on a 25-year inflation linked full repair and insuring lease.

Supply chain software provider Kewill announced the addition of Patrick Maley to its management team on Wednesday, as Chief Marketing Officer, effective 18 July.

Aureus Mining has secured equity financing of $30m with MNG Gold Jersey, which it said will strengthen the balance sheet and fund working capital as it completes the restart of the processing plant at the New Liberty gold mine in Liberia. The $30m equity investment at 3.21p per share represents a premium of 22.3% to the closing price on AIM on Tuesday.

Daily Internet, a web and cloud hosting firm, is to buy System Professional (Sys-Pro), a managed services and technology, provider for £3.9m. The company has proposed the acquisition of Sys-Pro to be paid with £3.3m in cash and through the issue of 975,000 consideration shares. The sale price could rise by £1.87m if Sys-Pro hits its performance targets.

Structural steel group Severfield has returned to profit on higher revenue, accompanied by an improved total dividend and upbeat outlook. Chief executive Ian Lawson cited operational improvements and efficiencies over the past three years for its increased profitability.

International building products supplier Tyman has raised about £19.1m in a placing of 8.5m shares with institutional investors at 225p each, having earlier agreed to acquire US-based Bilco at an enterprise value of $71.0m. Net proceeds from the placing would be used to reduce Tyman's balance-sheet gearing and provide structural headroom on its banking facilities following the Bilco deal.

Shares in technology and software group Servelec plunged a third as it warned operating profits would come in significantly lower than market views for full year 2016, and below that for 2015. The company said it had taken swift remedial action, reallocating resources and reducing costs.

Myanmar Investments (MIL) announced on Wednesday that the United States Overseas Private Investment Corporation commenced its initial disbursement of a $250m loan to Apollo Towers Myanmar, a subsidiary of Towers Pte, in which MIL has an effective indirect shareholding of 9.3%. The AIM-traded firm said the disbursement marks OPIC’s first financing in the country, as well as a historic milestone in public-private sector cooperation.

Half year revenue fell at Arria NLG due to a loss of a major contract but the company has since diversified and launched a new 'virtual financial adviser' product to help SME businesses that it hoped will boost the second half of the year. Revenues in the six months to 31 March fell 75% to £226,000 following the loss of business from Shell last April, however total non-oil and gas revenues increased by 133% to £226,000.