Small cap news round-up

Molecular diagnostics group Premaitha Health has gained regulatory clearance for the acquisition of Taiwan-based Yourgene Bioscience, a non-invasive prenatal testing bioinformatics specialist.

AIM-listed Premaitha believes that the acquisition will increase its access to Asia for non-invasive prenatal testing, as well as provide cross-selling opportunities.

Stratex International

Shares in Stratex International are down more than 20% on stating it has has yet to receive its net cash distribution from Turkish partner Bahar Madencilik in relation to the Altintepe Gold Mine.

"Stratex believes this is contrary to Bahar's contractual obligations under their agreement," the gold and metals exploration and development company said in a statement.

RTC Group

Engineering and technical recruitment company RTC Group announced its audited results for the year to 31 December on Monday, with group revenue rising to £67.9m from £64.9m year-on-year.

The AIM-traded form posted gross profit down slightly to £12.1m from £12.7m, with profit before tax at £1.1m, falling from £1.3m.

Stellar Diamonds

West Africa-focused diamond development company Stellar Diamonds' shares are down nearly a quarter after its shares were restored to AIM trading following a placing of 5.9m shares at 5.5p each to raise £324,500.

It also gave further details of the open offer to raise up to an additional £250,000 via the issue of up to 4.5m shares, and a director subscription to raise £20,000 through the issue of 363,636 new shares. Both were at 5.5p a share.

RPC Group

RPC Group has completed its one-for-four rights issue after subscribers for the outstanding 3.5m shares were procured by investment banks.

Earlier on Monday, RPC said it had received valid acceptances for 79.5m shares, or about 96% of the 82.95m shares offered.

Roxi Petroleum

Oil and gas explorer Roxi Petroleum will take greater control of its Kazakhstan project after striking a deal with Swiss miner Braverstock to merge their assets in Eragon Petroleum for about £67.88m, subject to shareholder approval.

The companies have already gained regulatory consent to merge Roxi and Baverstock's interests in Eragon, which holds a 99% stake in the company's principal asset, BNG, a subsoil contract in Kazakhstan.

Infrastrata

Infrastrata's shares are down almost 20% on news it intends to raise up to £750,000 at 0.5p a share to repay the Baron Oil loan and begin the first phase of Front-End Engineering Design (FEED) for its Islandmagee gas storage project.

The proposed placing would be conducted via an accelerated book build.

WH Ireland

Financial services group focussed on private wealth management and corporate broking services, WH Ireland, announced its final results for its financial year ended 30 November 2016 on Monday, with group turnover falling to £25.4m from £30.9m.

The AIM-traded firm posted an operating loss of £1.3m before exceptional items, swinging from a profit of £1.1m, with exceptional items rising to £1.8m from £1.2m.

Quartix

Vehicle tracking systems and services specialist Quartix says it has made a good start to full-year 2017 after improving its pre-tax profit for 2016.

"The past year has shown continued growth in demand for the group's vehicle tracking systems, software and services in both the fleet and insurance sectors," the company said.

Starcom

Shares in Starcom dived a third after it warned of a pre-tax loss for full-year 2016, with revenue for the 12-month period coming in broadly flat thanks to Watchlock Pro order delays.

The specialist in developing wireless solutions said pre-tax loss would be about $1.5m, from a loss of $1.76m, after inventory write-downs of $450,000, but before provisions.

Union Jack Oil

Union Jack Oil has raised around £1.4m through a placing of new ordinary shares at 0.135p each, which it plans to use to increase its interests in existing licences within the portfolio.

The company is currently fully funded for its existing commitments, which include the drilling of the Biscathorpe-2 and Holmwood-1 conventional exploration wells.

Botswana Diamonds

AIM-listed miner Botswana Diamonds has raised £525,000 in order to fund drilling and exploration work at its South Africa and Botswana sites.

The proceeds will be used to fund ongoing kimberlite drilling at the Frischgewaagt site in South Africa, drilling in Botswana, exploration work in South Africa and the first stage of the exploration programme in the Orapa and Gope areas of Botswana with Alrosa, a Russian diamond miner.

LGO Energy

Oil and gas firm LGO Energy confirmed that it will start drilling at its Groudon onshore field in Trinidad after the mobilisation of a rig.

The AIM-listed company said that rig 18 was successfully mobilised to the Goudron field where it will drill at least two infill wells to the Mayaro sandstone reservoir.