Small cap news round-up
Shares in Kodal Minerals surged on news of a £4.3m strategic investment, potential off-take agreement and £500,000 placing, all with Suay Chin International.
Suay Chin is planning to increase its shareholding in the lithium miner to 20% at a price of £0.0038 per share for a total of £4.3m, a 65% premium on Thursday’s closing share price
-
Midatech Pharma's shares are up almost 2% after confirming the successful initial scale-up and regulatory inspection of its state-of-the-art manufacturing site in Bilbao, Spain.
The international speciality pharmaceutical company said the manufacturing facility produces all of its gold nanoparticle (GNP) products.
-
Asiamet Resources advised on Friday that resource infill and extension drilling being completed as part of feasibility studies on the Beruang Kanan Main copper deposit in Central Kalimantan, Indonesia was continuing to substantially de-risk the resource.
The AIM-traded firm confirmed the ongoing infill drilling at the deposit had confirmed excellent internal continuity of high grade copper mineralisation at the BK044 zone.
-
Speciality pharmaceutical company Oxford Pharmascience Group announced its results for the year ended 31 December on Friday - a year in which it completed its technical programme to improve release properties, and successfully completed in vivo demonstrations that its technology modifications could make its OXPzero ibuprofen bioequivalent to the reference product and also potentially faster acting.
The AIM-traded company’s revenues were slightly ahead of 2015 at £0.8m from £0.75m, with its cost of sales broadly in line at £0.6m from £0.59m.
-
EFG Hermes subsidiary EFG Hermes Frontier Holding LLC has completed the acquisition of 51% of Invest & Finance Securities Ltd (IFSL) at a price of PKR15 a share.
In all, it had acquired 10.2m shares in Invest & Finance Securities.
-
Shares in Alba Mineral Resources are down more than 7% in relation to claims of unauthorised drilling at the Brockham X4Z well, which operator Angus Energy has denied.
Alba earns a 5% interest in Production Licence 235, which comprised the producing onshore Brockham Oil Field.
-
Africa and Europe-focussed upstream gas company Sound Energy announced on Friday that the third Tendrara well, TE-8, had now been drilled to the third and final casing point at a measured depth of 2,603 metres.
The AIM-traded firm said the 7 inch liner was being set and cemented in the TAGI II formation.
-
Digital music and radio services platform 7digital plans to raise about £3m to invest in its core platform through an open offer and a £750,000 bookbuild.
There will be a placing of new shares at 6.5p per share, a discount of the middle market price of 10.3p on Thursday, to raise about £2.26m with certain directors subscribing for about £200,00 in the placing.
-
Investors in specialist bank Private & Commercial Finance Group were gathering for the company’s annual general meeting in London on Friday morning, with chief executive Scott Maybury set to confirm trading in the first five months of the year was in line with management expectations.
The AIM-traded firm was due to post its interim results for the six months to 31 March on 6 June.
-
AIM-listed oil and gas explorer President Energysaid that the first workover of a producing well at the Dos Puntitas field in Argentina has completed on time and on budget.
The DP12 well previously had a leak in the production packer and a faulty jet pump bottom hole assembly but was treated with an acid stimulation and is now producing in excess of 120 barrels of oil per day, in line with expectations.
-
Angus Energy was forced to respond to media reports claiming the drilling of its Brockham X4Z well was “unauthorised” on Friday.
The AIM-traded company was the subject of a report by BBC London on Thursday evening, which reportedly alleged the drilling of the controversial Brockham well in Surrey was done without the proper regulatory authorisation.
-
London-listed investment trust Civitas Social Housing has bought a portfolio of supported living properties across Britain for £9.1m.
The portfolio has an initial net yield of 6%, comprising the freehold or long leasehold interest in 20 supported living properties, with 51 tenancies.
-
LXI Real Estate Investment Trust is to buy a Sheffield car park and is to provide funding for a development of a new Travelodge hotel in Bath.
The London-listed company will buy the car park in Rockingham Street for £19.1m, which reflects a blended net yield of 5.2% and will be funded from equity resources with senior debt finance in the near term, with completion of the deal expected on 12 April.
-
AIM-listed pharmaceutical Clinigen’s adult anti-epileptic drug has been approved in South Africa.
Clinigen, which collaborated with health care firm Eisai, announced that Perampanel has gained regulatory approval for the treatment of partial-onset seizures, with or without secondarily generalised seizures in patients with epilepsy aged 12 years and older.