Small cap news round-up
Shares in Akers Biosciences rose on Monday after the health technology company said it has begun marketing its test for heparin-induced thrombocytopenia (HIT) to some hospitals in Puerto Rico as part of its strategy to accelerate US sales of its product.
The Nasdaq and AIM-listed company believes that Puerto Rico represents a new market opportunity which is closely aligned to the US and has more than 60 potential hospital customers
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Luxury hostel company Safestay has narrowed its full-year pre-tax loss and seen a strong uptick in revenue.
Revenue was £7.4m, which was considerably up on the previous year's £4m thanks to demand for Safestay's contemporary hostel offer and contributions from Edinburgh and Holland Park.
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Rose Petroleum received a total of MX$6.01m from the Mexican tax authority (SAT) during March 2017, in relation to its recovery of substantial value-added tax owed to it by that organisation.
This amount was significantly more than the MX$4.2m that Rose Petroleum had anticipated receiving.
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Spoken word audio platform provider Audioboom has completed the exercise of the ‘squeeze-out’ rights available to it in order to buy SONAR News, a neuro-linguistic programming and artificial intelligence company, for £1.42m.
The acquisition was satisfied with issue of in total 56.93m shares at 2.5p each.
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Investment group Shore Capital has announced a new joint venture focusing on real estate opportunities in the supported living sector.
The JV, Puma Social Care Investments, has secured equity commitments totalling £21m, to be contributed equally from the group alongside two family offices in the US.
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Shares in First Property Group rose as it said its full-year pre-tax earnings, prior to the profit on sale of the Romanian property last month, are seen to be in line with market views.
It said funds under management at the end of the year totalled £475m, from £353m in 2016, of which some £313m (65%) were client funds, up 60% from the previous year.
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Shares in Highland Gold Mining are down more than 5% as it produced a full-year net profit of $47.9m, which was a reversal of its year-earlier loss of $10.0m, as its production slipped and all-in sustaining costs rose.
During the year, the company produced 261,159 ounces of gold and gold equivalents, which was a little below the previous year's 262,485 ounces
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Amur Minerals' shares are down after confirming the full restock and mobilisation of all newly bought machinery, spares and supplies for completion of its 2017 field season on its Kun-Manie nickel copper sulphide project in the Far East, Russia.
The nickel-copper sulphide mineral exploration and resource development company's chief executive, Robin Young, said the success of any field season was based on the company's ability to fully restock the Kun-Manie project site over the Ice Road.
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Grafenia says since its last update trading conditions have been mixed, with its full-year revenue, EBITDA and net cash seen in line with revised market expectations, but EBIT expected to be below them.
The company said transactional print revenues in February ended behind the same period last year. "However, revenues from print in March were strong, significantly ahead of both our internal budget and the same period last year," it said in trading update.
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Cerillion said on Monday that the first half of the year has progressed well and results are anticipated to be in line with management's expectations for a 9% jump in revenue and a 36% rise in core earnings compared to the same period a year ago.
In a trading update for the first six months to the end of March, the AIM-listed billing, charging and customer relationship management software solutions provider said it expects revenue of around £7.5m and earnings before interest, taxes, depreciation and amortisation of around £1.5m.
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Bacanora Minerals has entered into a strategic partnership with Japan’s Hanwa Co, one of the larger traders of battery chemicals in Asia, which comprises of a 10% equity investment and an off-take agreement for up to 100% of the battery grade lithium carbonate produced at its Sonora project in Mexico.
AIM-listed Bacanora is aiming to produce 17,500 tonnes of lithium carbonate per year starting in 2019 and after two years of producing at this level, it plans to lift production to 35,000 tonnes per year.
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AIM-listed Big Sofa has signed a supplier service agreement with US-based data solutions provider Survey Sampling International to supply it with sophisticated video capture and analytics technology and services for their digital surveys.
SSI serves more than 3,500 brand and market research agency clients and specialises in identifying market research participants in over 90 countries via internet, telephone, mobile/wireless and mixed-access offerings in support of over 40m survey completes a year.
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AIM-listed explorer Strategic Minerals is to supply over 400,000 tons of magnetite at its US mine over several years to an unnamed company.
Its subsidiary Southern Minerals Group, the operator of the Cobre magnetite stockpile in New Mexico, won a new contract on Friday with a private company to the supply magnetite at a market based price over several years, subject to availability.
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Hague and London Oil has agreed the conditional acquisition of "significant" non-operated natural gas production assets in the Dutch North Sea from Tullow Netherlands Holding Coöperatief B.A. for an initial consideration of €9.75m.
The seller will also receive contingent payments of up to €20m payable between 1 January 2019 and 1 January 2021.
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AIM-listed software and managed services provider Castleton Technology has secured two multi-year contracts extending the group's contract base and level of recurring revenue across both its managed services and software solutions divisions.
The first is a seven-year contract with North Hertfordshire Homes with a total contract value of £2.6m for the provision of a fully managed hosted desktop service.
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Healthcare software provider EMIS Group has appointed Andy Thorburn as chief executive effect from 1 May, following the retirement of Chris Spencer.
Thorburn recently returned to the UK after four years working for Digicel, latterly as the chief operating officer of the Caribbean and South Pacific based communications and entertainment provider.
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Tidal power company Atlantis Resources’ turbine at its MeyGen project in Scotland is currently being monitored to assess the effects of a recent unplanned grid outage.
The AIM-listed company said that the outage was caused by a third party and unrelated to the turbine.
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AIM-listed digital radio company Frontier Smart Technologies Group has launched its smallest ever module for DAB radios called Siena.
The Siena module, which measures just 21mm x 21mm, is a low power, cost-optimised solution for entry-level price point DAB+ radios and high end consumer audio devices which offer DAB radio as a function.