Small cap news round-up
FastJet has appointed a new chief financial officer along with other appointments to strengthen its board as the African budget airline attempts to turnaround its fortunes.
The AIM-listed company appointed Michael Muller as the new chief financial officer to replace Lisa Mitchell, who is to step down by the end of April to “pursue other opportunities”.
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Chinese content services firm BNN Technology has expanded its three-year partnership with Arsenal Football Club.
The AIM-listed company expanded its commercial relationship, which began in September 2015, and it will now, supported by NewNet, provide Arsenal content to the Xinhua News mobile app, including manager interviews before games, pre-match press conferences, weekly news bulletin videos, weekly training footage, monthly coaching videos and three news articles a week.
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Minoan was forced to respond to reports in the Greek media on Friday, after a number of outlets stated the appeals against the Presidential Decree granting land use approval for the company’s project in Crete had been rejected by the Greek Supreme Court.
The AIM-traded firm said it had not yet seen an announcement from the Greek Supreme Court, however, but would update the market once one was issued.
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Shares in Digital Barriers are down almost a fifth after it said delays in the signing of several quality contracts will have an inevitable impact on its performance in the current financial year.
"This is a disappointing out-turn to the year -- a year in which we have achieved some very positive progress across our technologies and in our international markets," said chairman Tom Black in a statement.
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Advertising research firm BrainJuicer has formally changed its name to System1 Group and the new moniker has been filled with Companies House.
The AIM-listed company’s ticker will change to SYS1 from BJU and trading under the new symbol will start on 3 April.
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Industrial fuel cell power company AFC Energy announced its final results for the year to 31 October on Friday, narrowing its operating loss to £6.3m from £8.6m in 2015.
The AIM-traded firm managed to raise £3.6m through a placing and offer for subscription in January 2016, and held cash reserves at year-end of of £2.9m, up from £1.8m at the end of the prior financial year.
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Australian miner Tlou Energy, has raised AU$5.2m (about £3.1m) to invest in its coal bed methane projects in southern Africa and plans to raise a further AU$2m.
The company raised the funds from the issue of 51.78m new shares, which represents 17.9% of its enlarged share capital, at a price of AU$0.10 or 0.06p per share to investors in Australia and the UK.
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AIM-listed contact centre solutions provider PCI-PAL has appointed William Good as chief financial officer, effective 1 April.
He will succeed Andy Francombe, who announced in January that he will step down from the position to pursue other business interests.
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Creo Medical Group’s endoscopic device gained approval in the European Union for microwave energy keeping the company on track for the device’s launch later this year.
The company’s device, Speedboat RS2, has received CE mark approval for microwave energy to add to the devices previous CE award for radiofrequency.
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EasyHotel said on Friday that trading in the five months to 28 February was slightly above the board's expectations, with owned hotels "materially" outperforming their competitive set during the period.
In the UK, the overall hotel market improved year on year, mainly driven by strong owned hotel like-for-like revenue growth of 19% compared with the same period last year, as the group continues to benefit from the revenue strategy announced in December 2015.
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Rotala subsidiary Diamond has agreed a deal with Arriva Midlands North, a subsidiary of Arriva, to take on the majority of the Arriva Wednesfield operation.
The deal will see Diamond accept nine vehicles from Arriva Wednesfield together with those Transport for West Midlands contracts which are presently operated by Arriva Wednesfield with the vehicles being transferred.
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Management Resources Solutions (MRS) faces a looming deadline of 28 April to complete a fundraise and have its share-suspension lifted or have its AIM listing cancelled.
The company said a fundraising was urgently required to ensure its solvency and the continued support of its lending institutions.