Small cap round up

AIM-listed European Wealth has agreed to buy certain assets of Towry Asset Management for up to £1m. The integrated financial planning and wealth management group said it has entered into a binding business sale agreement to purchase a book of business and certain related assets.

XP Power, a manufacturer of power control components to the electronics industry, increased third quarter revenues while trading in line with expectations for the full-year. In a trading update for the quarter ended 30 September, the company reported a 13% rise in revenue to £92.6m, compared to the same period last year, or a 5% rise on a constant currency basis.

Critical communications solutions provider Sepura announced on Friday that it has been selected by a large, unidentified continental European public safety organisation to provide 19,000 SC20 series hand-portable radios. The AIM-traded firm said they are Wi-Fi enabled and ready to transmit and receive high speed data in a similar way to smartphones.

Dutch insurer Delta Lloyd rejected NN Group’s €2.4bn takeover proposal as it remains committed to its capital and performance strategy. The company said the proposal “substantially undervalues” Delta Lloyd, its prospects and its strategic opportunities as terms represented only 0.64 times its June’s book value and a dividend yield of 5.6%.

TomCo provided an update on the proposed palm oil milling operation in the Makeni oil palm belt in Sierra Leone on Friday.The AIM-traded firm said that, following completion of the equity fundraise announced on 2 September, discussions have been ongoing with potential debt providers with regards to securing a debt facility to part fund and enable the company to commence procurement and construction of the initial one tonne per hour processing plant.

Investing company Draganfly announced on Friday that it has made its first investment following the two fundraising exercises completed in summer. The AIM-traded firm said it had made a convertible term loan of £60,000 to AltEnergis, a privately-owned company registered in England and Wales, specialising in the development and commercialisation of novel intellectual property.