Small cap news round-up
Esports business Gfinity’s football videogame will be the final game to feature in the Elite Series, an eSports league, which is launching later this year.
Multiplayer Rocket League, joins the company’s other games video games Counter-Strike: Global Offensive and Street Fighter V which will also feature in the Elite Series.
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Closed-ended investment company that specialises in renewable energy projects and emissions instruments, Trading Emissions, announced its results for the six month period to 31 December on Monday.
The AIM-traded firm reported nil realised gain on carbon assets for the period, down from £4k in the same period a year earlier, while its realised gain on private equity assets was £9k, swinging from a £236k realised loss.
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Path Investments is to float on the London Stock Exchange on 30 March as the energy investor bids to capitalise on the downturn in the price of oil.
The company will be admitted on the main market for listed securities under the ticker PATH and ISIN, GB00BYQD5059.
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Hurricane Energy reported an oil discovery from exploratory drilling near to the Lancaster field, which the company believes is part of the largest undeveloped discovery on the UK continental shelf.
Results of drilling from the 205/23-3A 'Halifax' well indicated a very significant hydrocarbon column of at least 1,156 metres is present within the basement extending well below local structural closure.
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High-affinity antibody developer and supplier Bioventix announced its unaudited interim financial results for the six months to 31 December on Monday, with turnover rising 32% period-on-period to £3.12m.
The AIM-traded firm said profit before tax was up 49% at £2.48m, while profit after tax improved 41% to £1.98m.
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Emerging supplier of ‘MSAR’ emulsion technology and fuel Quadrise Fuels International announced its interim results for the six months to 31 December on Monday - a period in which it raised £5.25m through a placing and open offer of new ordinary shares in November.
The AIM-traded firm said the open offer was oversubscribed 2.5 times.
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AIM-listed Premier African Minerals has raised £2m form an oversubscribed share placing to fund develop at its lithium and limestone mines.
The miner raised £2.01m from the issue of 402.2m shares, which were 34% oversubscribed by midday on Sunday, at a price of 0.5p each.
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AIM-listed investor GLI Finance has agreed to buy an additional 2.1% stake in Sancus IOM Holdings, which finances small-medium sized enterprises, for £163,331.
The acquisition will be bought at the same price for each share the company paid for the initial 14% it bought in February and will be funded from existing cash resources.
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Mercantile Ports & Logistics is to develop a facility at its port in Mumbai, India with an engineering and logistics project company.
The AIM-listed company and its subsidiary, Karanja Terminal, has entered into an memorandum of understanding for 200 metres of the quay length of its port to be used for handling cargo for the decommissioning of wellhead platforms for the gas industry.
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Shares in ITM Power surged on Monday after the clean energy storage company announced it had sold some equipment and that it has a pipeline of potential revenue worth nearly £25m.
The AIM-listed company sold a 0.5 megawatt electrolyser and some hydrogen energy equipment for £730,000.
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European Wealth has entered into a £720,000 12-month loan facility at an interest rate of 10%.
The AIM-listed wealth management group said the full amount of the loan can be paid back at any time during the term at the discretion of the company without incurring any early repayment charges.
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IMImobile has agreed to buy multi-channel messaging applications provider Infracast for an initial consideration of £8.2m in cash and shares.
The AIM-listed cloud communications software and solutions provider said the deal is highly complementary to both companies' product set and customer base and should be immediately earnings-enhancing.
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AIM-listed Elektron Technology has completed the sale of the business and assets of Digitron to The British Rototherm Company for a total gross consideration of £300,000 in cash payable on completion, which will be used for working capital purposes.
Digitron is a manufacturer of instruments for pressure and temperature measurement.
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Master Domino’s Pizza franchisee for Poland, DP Poland, posted its final results for the 2016 calendar year on Monday, with system sales up 62% year-on-year, or 27% on a like-for-like basis.
The AIM-traded firm reported 17 consecutive quarters of double digit like-for-like system sales growth.
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Itaconix posted its preliminary results for the 12 months to 31 December on Monday - a year in which it changed its name from Revolymer, and undertook a “major reorganisation” to focus on its specialty chemicals business.
The AIM-traded firm reported £8.8m of short term deposits, cash and cash equivalents on hand at the year end, down from £10.5m.