Small caps news round-up

Wheelchair robot technology company Rex Bionics announced on Friday that Maxhealth Medicine has deposited £1m in escrow in relation to its subscription for 3,333,333 ordinary shares at 30p each. The AIM-traded firm said this £1m will be released from escrow and become available to the company upon admission of the shares to trading.

Petroleum explorer Petro Matad’s reached a $10m settlement with Shell’s affiliate BG Mongolian Holdings (BGMH). The Mongolian miner reported that Shell’s BGMH will pay a farm-out arrangement exit fee of over $10m as well as a further $5m.

Cloudcall announced its unaudited interim results for the six-month period ended to 30 June on Friday, with revenue up 62% to £2.3m. The AIM-traded company reported recurring revenue up 24% compared to H2 2015, with it now totalling 84% of group revenues.

Health, safety, hygiene and environmental consultancy company PHSC posted its preliminary results for the year to 31 March on Friday, with underlying EBITDA falling to £0.368m from £0.818m. The AIM-traded firm said its group revenue fell to £7.0m, compared with £7.7m last year, with its cash reserves at £0.256m as of year-end compared to £0.462m last year.

Audioboom Group, the spoken word audio on-demand platform, said it was in talks with an unnamed Chinese fund on a potential $8m investment to accelerate growth adding that it was considering a strategic acquisition. Any funds raised from a Chinese deal would not be used for working capital purposes, Audioboom said in a statement. The company said it expected a formal agreement by the end of September.

Finance administration outsourcer Sanne said despite Bexit uncertainty, new business wins and a new acquisition gives it confidence for future growth. In a trading update for the six months ended 30 June, the company won business from new and existing clients for about £6.5m on a projected annualised fee basis.

Niche pharmaceutical developer Quantum Pharma announced on Friday that its subsidiary Colonis has launched Mucodis vaginal cream. The AIM-traded company said the cream is part of the Mucodis range of in-licensed patented medical devices, which focus on treating some of the side effects experienced by patients undergoing the treatment of cancer.