Small caps news round-up

Investment vehicle Ultimate Sports Group announced on Tuesday that it has raised £0.5m through the placing of 5 million new ordinary shares of 10p each, at a price of 10p per share, with new and existing investors including the some of the company’s own directors. The AIM-traded firm said the funds raised will be used to support the rollout of its online platform for children, which measures, motivates and incentivises their personal sporting performance, as well as supporting general working capital requirements.

Full-year revenues at oil company Urals Energy fell despite an increase in production as volatility in oil prices and foreign exchange markets took their toll. Urals Energy, which has operations in Russia, said gross profit after excise, export duties and value added tax (VAT) fell 18% for the year ending 31 December 2015 to $7.1m. Gross revenue before excise and export duties fell 46% to $31.4m.

Share plc announced on Tuesday that its subsidiary, The Share Centre Ltd, sold 23,727 of the shares it held in London Stock Exchange Group on 23 June. It said the sale realised proceeds of £699,586.05, which will be used to “further strengthen” the company’s balance sheet.

Provider of messaging services Messaging International announced results for the 2015 calendar year on Tuesday, with gross revenues falling 4% to £3.47m from 2014. The AIM-traded firm made an adjusted pre-tax loss for the year, before goodwill impairment, of £55,309 - much narrower than the £334,798 loss recorded in 2014.

GLI Finance realised its previously failed goal of acquiring peer-to-peer lender FundingKnight on Tuesday, after the business fell into administration. The AIM-traded company had announced in its strategic review on 16 February that it had not been possible to agree a way forward between GLI and FundingKnight - an online peer-to-peer lending platform.

North River Resources announced on Tuesday that it has conditionally raised $5.6m through the issue of new secured, conditionally convertible loan notes to Greenstone Resources. The AIM-traded firm said the funds raised will be used, in conjunction with the company’s existing cash resources, to repay the 2015 convertible loan notes issued to Greenstone, and to provide working capital for the company’s short-term work programme and ongoing planning for commencing outstanding pre-construction work streams.

Premier Veterinary’s subsidiary, Premier Vet Alliance, is to provide its preventative healthcare programme, Premier Pet Care Plan, to Merritt Veterinary Supplies in the US. The five-year agreement is to introduce the Premier Pet Care Plan to Merritt’s 9,000 member hospitals located primarily in South Carolina, North Carolina, Georgia, Alabama, Florida, Mississippi, Louisiana, Tennessee, Kentucky and Indiana. The first pets on the plan are expected during the second half of the year.