Small cap news round-up

International renewable energy, forestry management and timber processing business Active Energy provided an operations and trading update on Wednesday, on its three “standalone but complementary” divisions AEG CoalSwitch, AEG TimberLands and AEG WoodFibre.

The AIM-traded group’s board said it was confident that AEG's CoalSwitch division would be the primary area of growth in 2017, as management focussed on commercialising its technology.

Bushveld Minerals

Bushveld Minerals said it had agreed to help change the ownership of a Black Economic Empowerment (BEE) partner as part of its planned acquisition of Vametco.

Bushveld Minerals has agreed to support Jaxson 640's acquisition of a 21.2% controlling interest in the BEE stake in Vametco from from a consortium led by Avacap.

Savannah Resources

Savannah Resources' shares are down 8% after it raised roughly £2.24m, before expenses, from both new and existing investors.

This sum was raised via a placing of 29.6m new shares and subscription for 13.1m new shares at a price of 5.25p each, the resource development company said.

OneView Group

Shares in OneView Group surged by almost two-thirds as it won a multi-million dollar annual cloud-based hosting deal with Discount Tire Corp, the world's largest independent tyre and wheel retailer.

The deal with Discount Tire, an existing client, would expand the current partnership for a five-years, and provide a material uplift to its yearly recurring revenues.

Globalworth Real Estate Investments

AIM-listed Globalworth Real Estate Investments is to buy an automobile warehouse in Romania for about €42.5m (£35.9m), subject to regulatory approval.

The acquisition depends on clearance from the Romanian Competition Council and approval from the property's existing lender.

Kromek

Shares in Kromek are up almost 4% after it won a five-year contract - worth a minimum of $3.1m over the period - with an existing US-based customer that is an emerging leader and global company in the homeland security marketplace.

It had developed key components to be incorporated into the customers' new generation security screening system for the detection of explosives.

CORETX Holding

Mid-market network, cloud and IT managed services provider CORETX Holdings announced that it was establishing a new facility on Wednesday, to enhance its full ‘IT Lifecycle’ services which cover the deployment and secure management of new generation end user devices, in line with its strategy to meet customer demand for a broader range of IT managed services.

The AIM-traded firm had signed a number of significant new customer contracts for Lifecycle services in January that have a total contract value of £5.85m, and as a result of those wins, CORETX will configure, deploy and support over 80,000 new end user devices through their full lifecycle.

NetScientific

Healthcare intellectual property commercialisation group NetScientific announced on Wednesday that its portfolio company, Vortex Biosciences, had begun the commercial launch of the VTX1 Liquid Biopsy System.

The AIM-traded firm said VTX1 is a fully automated benchtop system for collecting intact circulating tumour cells that are shed by tumours, using patented innovative microfluidic technology.

Hotel Chocolat Group

Premium chocolatier and retailer Hotel Chocolat Group announced its interim results for the 26 weeks to 25 December on Wednesday, with proforma revenue up 12% to £62.5m and reported revenue up 14% to £62.5m.

The AIM-traded company said underlying EBITDA improved 27% to £13.7m, with its underlying EBITDA margin increasing to 21.9% from 19.7% year-on-year. Profit before tax was up 28% to £11.2m.

Beowulf Mining

Nordic-focussed mineral exploration and development company Beowulf Mining announced on Wednesday that drilling had started at its Aitolampi graphite prospect in Finland, part of its 100% owned exploration permit Pitkäjärvi 1.

The AIM-traded company said it planned an approximate 2,000 metre drill programme of up to 30 drill holes, split in two phases.

Pan African Resources

Pan African Resources posted its results for the six months to 31 December on Wednesday, with the group’s profit after taxation in rand terms increasing by 9.8% to ZAR 249.8m, while in sterling terms, it was up 28.4% to £14m.

The AIM-traded firm said earnings per share were 33.4% firmer at 16.58 rand cents, or 55.0% to 0.93p.

Verona Pharma

Verona Pharma's shares are up more than 1% after it confirmed the first patient had been dosed in its Phase 2a clinical trial evaluating RPL554 in the treatment of chronic obstructive pulmonary disease (COPD).

RPL554 was being used as an add-on therapy to tiotropium (Spiriva), a commonly used long-acting bronchodilator. Top-line data from the trial was expected in 4Q 2017.

Trafalgar New Homes

Shares in Trafalgar New Homes are down more than 5% as the residential property developer warns its full-year pre-tax profit and revenue will be materially below market views.

This was because developments Edenbridge and Burnside had just been completed before year's end, meaning completed sales during the period from these were unlikely.

MTI Wireless Edge

Shares in MTI Wireless Edge climbed on Wednesday after the antenna maker said that it had won a new $1.8m contract from an existing customer in the broadband wireless access sector.

The AIM-listed company’s new contract with the broadband firm will be fully delivered in 2017.

Blue Prism

Shares in Blue Prism are up almost 10% after anticipating full-year revenue will be materially ahead, and commenting it has a strong pipeline.

The specialist in robotic process automation said the positive trading momentum seen in 2016 had continued into 2017.

Mercia Technologies

Mercia Technologies, which funds technology businesses, has won two contracts to manage the British Business Bank’s new Northern Powerhouse Investment Funds worth £108.5m.

The AIM-listed company, through its subsidiary Enterprise Ventures, has secured a £57.5m equity fund and a £51m debt fund to invest in SMEs in Yorkshire, the Humber and Tees Valley regions.

This is part of the Northern Powerhouse Investment Fund, which is supported financially by the EU, including investment from the European Regional Development Fund as part of the European Structural and Investment Funds Growth programme 2014-20, and the European Investment Bank.