Small cap news round-up
Shares in Synectics surged on Tuesday after the security firm announced it had won three contracts, comprising a multi-million dollar international casino project, an expansion to the system deployed at Jakarta Airport and a renewed three-year contract with a bus operator Stagecoach.
The first contract is to supply supply an integrated video and security management solution, based around the company's open architecture command and control software Synergy 3, to a Philippines casino, to record and monitor over 5,000 cameras across five properties.
-
Specialist castings and engineering group Chamberlin anticipates its full-year results will be in keeping with current market forecasts, with a strengthened performance in the second half.
"In particular, underlying profitability will be ahead of the prior year," the company added. Its shares were up 4.29% to 109.5p at 13:54 GMT.
-
Shares in Iofina rose almost 5% after it said it performed well in its first quarter despite facing some challenges.
The specialist in the exploration and production of iodine and iodine specialty chemical derivatives produced 118.7 metric tonnes (MT) of crystalline iodine from its five Oklahoma based IOsorb plants in the quarter.
-
AIM-listed Franchise Brands’ £28m acquisition of Metro Rod, a drainage clearance and maintenance company, completed on Tuesday.
The acquisition was part funding from an equity placing of shares worth 67p each to raise £20m with balance funded from new bank facilities.
-
Shares in Immedia are down more than 7% after it reversed to a full-year pre-tax loss of £184,372, from a previous profit of £5379, but was upbeat on the benefits of its AVC Media Enterprises acquisition last year.
"Since the year end we have already seen the anticipated benefits of the AVC acquisition coming through, both in terms of revenue from its own clients and additional services," it said.
-
Hummingbird Resources' shares are up more than 3% after it agreed an up to $60m senior secured term facility with Coris Bank International Group to be drawn in instalments as required.
The new facility would be used to fund the ongoing construction of the Yanfolila Gold Mine in Mali that was on budget and scheduled for first gold pour by the end of 2017.
-
West African gold producer Avesoro Resources' shares are up more than 5% after it said its first-quarter saw continued improvement in both mining and processing operations as management continue the turnaround in operations at New Liberty.
Total gold production for the three months to 31 March was 14,906 ounces, in line with expectations.
-
AIM-listed 1pm has acquired Bell Finance Limited, a specialist provider of funding for business-critical equipment, for £3.4m.
The company, which provides finance facilities to the SME sector, will pay £2.3m in cash at completion, including £300,000 placed in escrow for up to six months.
-
Independent Oil & Gas is to buy the recently decommissioned Thames gas pipeline in the southern North Sea from Perenco UK, Tullow Oil SK and Centrica Resources, for a “nominal consideration”, subject to regulatory consent.
The pipeline will enable the company to export about 300,000 cubic feet per day in gas from its assets in the southern North Sea, the Blythe and Vulcan Satellite hubs, to the Bacton gas terminal.
-
Flooring manufacturer and distributor Victoria said on Tuesday that its underlying pre-tax profit for the year ending 1 April is anticipated to be "comfortably ahead" of current consensus market expectations as it benefits from acquisitions.
The group said its performance has been underpinned by operational synergies following the integration of recent acquisitions in the UK and Australia, which have continued to positively impact gross profit margins and overheads throughout the current financial year.
-
Brooks MacDonald Group’s new chief executive Caroline Connellan has started her tenure at the wealth management firm on Tuesday.
Chris Macdonald has also become the AIM-listed company’s new deputy chairman, subject to regulatory approval.
-
Healthcare company Integumen has signed a three-year supply agreement with South Korean distributor Mono Dent for its oral hygiene products for an undisclosed sum.
This supply contract is Integumen’s first in Asia and will establish an additional income stream from the new market.
-
AIM-listed Digital Barriers, a solutions provider for the surveillance, security and safety markets, has won a contract for its facial recognition technology with Careem, a ride-hailing app in the Middle East and North Africa.
This contract is the first integration of the company’s facial recognition software into a mainstream commercial application and is expected to deliver recurring software revenue to the Digital Barriers until the end of 2018, with an option for an extension.
-
Shares in Arian Silver Corporation surged on Tuesday after the miner announced it will buy three lithium exploration projects in Mexico for up to $200,000.
The AIM-listed company will buy the Pozo Hondo, Columpio and Abundancia projects in Zacatecas State which is known for its lithium deposits, through its Mexican subsidiary, Compañia Minera Estrella de Plata SA de CV, from Comercializadora Gacu SA de CV.
-
Rockhopper Exploration increased its output in 2016 as it continued to progress on developing Sea Lion, its main project offshore the Falkland Islands while increasing its footprint in the Mediterranean.
The outfit increased its economic production to 1,350 barrels of oil equivalent per day last year, the company said in a statement.
-
Shares in Fusionex International gained on Tuesday after the software company announced it had won a multi-year contract from Galaxy Entertainment Group, an operator of resort facilities in Asia, to upgrade its big data platform to its hotel partners, which include Ritz-Carlton, Okura, Banyan Tree and JW Marriott.
The AIM-listed company will consolidate Galaxy’s facilities into one platform to enable travellers to make additional reservations for lodging, entertainment, food and beverage, and travel facilities available under its resort umbrella.