Small cap news round-up
The value of Wynnstay Properties investment portfolio has increased by more than £2m over the past year on the back of several lease extensions.
At the end of the AIM-listed investor’s finical year at 25 March, its properties were valued at £29.51m, an increase of £2.21m, or 81p per share, from the previous year.
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Oil shale explorer TomCo Energy has created a new Utah-based subsidiary company called TurboShale to develop and commercialise new technologies for processing oil shale.
TurboShale's executive and technology will comprise of Ray Kasevich and Jeb Rong from Massachusetts-based JR Technologies and Graeme Hossie from UK-based Venture Development Partners.
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Biotechnology company Silence Therapeutics says 2016 was a year of transition for the company and RNA interference (RNAi), as it posted a wider full-year pre-tax loss.
Revenue for the period was £770,000, from zero. Its pre-tax loss was £11.9m, from a loss of £9.8m, which was mostly due to R&D costs and administrative expenses.
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Cyber security firm Falanx Group has launched a new cyber threat detection platform, MidGard, which is expected to cut costs and gain new clients for the company.
MidGard detects, alerts and provides analysts with the ability to investigate and intervene in cyber security threats as they occur on client's networks and systems and is currently live on its first client network with the pilot contract worth about £50,000 per year.
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Shares in Tasty are down about a third after it warned trading since its year end has been challenging and that headline operating profit for 2017 is likely to be below that of 2016.
"Post year end trade has been below expectations and the directors believe that the trading environment for the coming 12 months will remain challenging," said chairman Keith Lassman, as the company swung to a loss of £88,000, from a profit of £3.1m.
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Proteome Sciences announced its audited results for the year to 31 December on Tuesday, with 46% revenue growth to £2.74m, underpinned by a 57% increase in sales of ‘TMT’ reagents to £1.39m.
The AIM-traded firm said its costs and margins were as expected.
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English luxury brand Mulberry Group's shares are down almost 1% after it announced the launch of Mulberry (Asia) Ltd.
It said this was, as previously communicated, a new business agreement with Challice Ltd and would operate the group's business in Hong Kong, China and Taiwan.
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Shares in Cloudcall are down almost 1% after posting a marginally wider full-year pre-tax loss, but the company says its accelerating sales trend of 2016 is continuing into 2017.
At 10:26 GMT, shares in AIM-quoted Cloudcall were down 0.97% to 102p each. Pre-tax loss for the year was £3.8m, from £3.7m, on improved revenue of £4.9m, from £3.3m.
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AIM-traded Patagonia Gold has swung to a full-year pre-tax profit, helped by a rise in revenue, after a 12-month period that presented the company with several challenges.
"The year has not been without its challenges as we have transitioned from one project to another," said Christopher van Tienhoven, chief executive of the mining and development company.
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Shares surged in Sirius Minerals on Tuesday after the Yorkshire polyhalite miner announced it is to cancel trading its shares on AIM following admission to the main market of the London Stock Exchange.
The miner is applying to list its shares on the premium listing segment of the Official List of the UK Listing Authority and be admitted to trade on LSE’s main market for listed securities.
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AIM-listed miner Tethyan Resources has raised £1m to fund exploration work at its Suva Ruda copper project in Serbia.
The company raised the funds from an equity placing of 22.22m shares at 4.5p each with new and existing investors, including major shareholder Southern Arc Minerals and a number of the company’s directors.
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Cronin Group announced its audited financial results for the year to 31 December on Tuesday, confirming it had now grown to six full time employees and moved into dedicated premises.
The AIM-traded firm welcomed Steve Coles as chief technology officer during the year, reportedly to lead the hardware and software development teams which were being significantly enlarged in 2017.
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Brownfield regeneration specialist and housebuilder with a focus on the South and South East of England, Inland Homes, announced its results for the six months to 31 December on Tuesday.
The AIM-traded firm delivered a rise in EPRA NAV to 87.05p from 80.64p from the first half of the prior year, and adjusted EPRA NAV growth to 92.03p from 84.38p per share.
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AIM-quoted luxury furnishings group Walker Greenbank’s products are to be featured in John Lewis' pop-up shops in Oxford Street, London.
John Lewis will showcase products from the company's Scion, Harlequin and Morris & Co brands, which include wallpaper, bedding, towels, tableware, cushions and rugs.
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AIM-listed investor First Property Group is to sell a logistics warehouse in Romania for €3.2m to Aquila Part Prod, the current occupier of the property.
The warehouse in Ploiestri is one of the company’s three directly held properties in the country and the sale of the warehouse will result in pre-tax profit of just over $1m, representing a return on investment of some 50%.