Small caps news round-up

Rare Earth Minerals reported on Wednesday thatMacarthur Minerals, in which it owns a 15.5% shareholding, has entered into a new conditional farm-in agreement. The AIM-traded company said that Macarthur has agreed to enter into a conditional, binding memorandum of understanding for a Canadian lithium company to farm in, for an initial 51% interest in Macarthur’s Australian lithium acreage at Ravensthorpe, for a minimum expenditure of AUD 2m.

Specialist technology, engineering and managed solutions company TP Group released a trading update ahead of its interim results on Wednesday. The AIM-traded firm said that, further to the good progress it reported in 2015, it has continued to see “positive momentum” in the six months to 30 June.

Trinity Exploration and Production (E&P) suspended trading on AIM on Wednesday due to its inability to curb its debt. The Trinidad-based oil explorer has been in extended negotiations with Citibank to try and salvage its outstanding debt balance of $13m. The bank offered the group several extensions while the firm has been working on a wider financial restructuring of the business.

Industrial polymer-based manufacturer Fenner said its full year expectations remain unchanged despite its principal markets having shown no recovery. In a trading update for 1 March to 12 July, the company said the medical business, part of its advanced engineered products division, performed well. The Secant programme was entering the testing and certification phase.

Developer of cannabinoid therapies GW Pharmaceuticals announced on Wednesday that it intends to sell, subject to market and other conditions, $150m of American Depositary Shares representing ordinary shares of GW on the NASDAQ Global Market, in an underwritten US public offering. The AIM-traded firm said it expects to grant the underwriters a 30-day option to purchase up to an additional $22.5m of shares at the offering price.

Technology provider e2v technologies has announced that its finance director Charles Hindson is stepping down after seven years of service. The group leads developments in communications, automation, discovery, healthcare and the environment.

Clinical stage biopharmaceutical company Motif Bio announced on Wednesday that it has filed a registration statement with the US Securities and Exchange Commission relating to a proposed public offering of American depositary shares. The AIM-traded firm said it has also applied to have the shares listed on the NASDAQ Global Select Market under the ticker symbol ‘MTFB’.

Medical, life science and technology business developer Amphion Innovations announced on Wednesday that it has agreed terms for the drawdown of an additional tranche of $0.75m under the loan facility first announced on 5 June 2014. The AIM-traded company said it will receive the proceeds of the additional draw immediately.

STM Group, an international financial services provider, has had fewer clients sign up to their pension schemes than expected due to the uncertainty surrounding Brexit. The group’s pension division particularly the Qualifying Recognised Overseas Pension Scheme (QROPS) has been the company’s key growth driver over the last two years.

Berkeley Energia advised the market on Wednesday that trading in its shares had been halted on the Australian Securities Exchange (ASX), effective immediately. “The halt was requested by the company, pending an announcement regarding a definitive feasibility study at the Salamanca project,” Berkeley’s board said in a statement.