Small cap round up

Only a week after being encouraged to step down, big data software company WANdisco has re-appointed ex-chief executive David Richards and so lost chairman Paul Walker, who has resigned. Richards, co-founder of the company over a decade ago, stepped down with immediate effect last Thursday to be replaced in the interim by Walker.

Safestay, the owner and operator of a contemporary hostel, has been granted planning consent to extend its hostel in Elephant & Castle. Southwark Council has given the company full planning permission and listed building consent to develop an additional 80 beds over four floors and rework the lower ground floor´s food and beverage areas.

Asos chief executive Nick Beighton has defended the company's working practices for staff at its Barnsley warehouse after they were attacked by the GMB union, but he agreed to change some policies. In an open letter to staff that aimed to "set the record straight" Beighton set out a bulleted list refuting some of the points claimed by GMB when it said last month that Asos would be "the next Sports Direct".

Drug discovery and development company Summit Therapeutics presented preclinical data at the 21st International Congress of the World Muscle Society in Granada, Spain on Thursday, including further findings from its programme to develop tools to measure biomarkers of muscle health for use in patient clinical trials evaluating utrophin modulator therapies.

Adamas Finance Asia announced on Thursday that, as a result of a restructuring, its indirect 33.6% shareholding in Fortel Technology Holdings has been converted into an $11.3m interest-bearing loan. The AIM-traded firm said the conversion represents a step in its long-term strategy to convert its legacy portfolio into income-generating assets.

Life Science Developments released an update on Thursday, saying that since its general meeting held in October 2015, the board has been reviewing a number of possible acquisition opportunities with a view to implementing its investing policy.The AIM-traded company confirmed that it has now signed a non-binding term sheet to acquire up to 100% of the issued share capital of The Diabetic Boot Company for new shares in LIFE.