Small caps news round-up

Telematics and data provider Trakm8 Holdings has hiked its full-year pre-tax profit forecasts and confirmed two initial contract wins with global insurance company Allianz. Trakm8 posted a 76% surge in pre-tax profit to £3.0m, from a profit of £1.7m. Dividend per share rose to 2p, from nil. Revenue firmed to £25.65m, from £17.85m.

Shares in Fusionex are up more than 7% after confirming a multi-million dollar contract win with an integrated holiday resort in Asia. The multi-year contract would see the holiday resort use the group's proprietary big data analytics platform Fusionex GIANT 2016 to optimise its marketing strategy.

RedstoneConnect subsidiary Connect IB has extended its existing Site-Map application contract to GlaxoSmithKline's Asia headquarters. The deal would see the roll-out of Site Map at one of GSK's existing Singapore locations and a future roll-out in 2017 at GSK's new global headquarters in Asia.

The 600 Group has sold a property for £2.0m, and advised shareholders of several factors that it says reduce the risks associated with post-Brexit trading. The group said 60% of its activity was conducted in the USA and these businesses were the main profit drivers.

Risk management software supplier Access Intelligence announced on Monday that it has agreed terms to dispose of its subsidiaryAITrackRecord to TrackRecord Holdings, a newly-formed company founded by AITrackRecord’s current CEO David McNair Scott. The AIM-traded company said AITrackRecord provides a solution for training, competence and compliance management, designed specifically for the highly-regulated UK financial services industry.

Investment company Starvest announced on Monday that it has purchased 340,000 shares in emerging diamond producer Diamondcorp for £25k. The AIM-traded firm said the shares in the fellow AIM company were paid for in cash and following the investment, Starvest will hold 0.08% of Diamondcorp’s issued share capital.

Herencia Resources hit a fresh stumbling block in its sale of Paguanta Resources on Monday, with the potential purchaser pushing the date back and the company only weeks away from possible insolvency. On 10 May, the AIM-traded firm announced it had entered into a transaction with Golden Rim Resources under which it would sell all of the issued shares in Paguanta.

Asia-focused investment company Alpha Returns announced on Monday that its 70%-owned joint venture Riche Bright Group has repurchased its own shares from its 30% minority shareholders for cash at attributable net asset value, turning Riche Bright into a wholly-owned subsidiary available for use as an intermediate bare holding company for future investments. The AIM-traded company’s move follows the disposal by Riche Bright of Riche Bright Securities for a total cash consideration of HKD 33.17m, as initially announced on 12 May.