Small cap round up

Having commissioned an independent valuation of its assets, Indonesian palm oil plantation owner MP Evans said on Monday that the 740p per share offered by Kuala Lumpur Kepong, which it rejected on 15 November, is 46% lower than the group’s implied equity value of 1,082p. Malaysia-based Khong & Jaafar, which specialises in the valuation of oil-palm estates and property, valued MP Evans' land assets at $665m.

First-half profits from Trakm8 slumped 77% and cash flow almost dried up as the telematics group's increased revenue and normal seasonality was blotted by a weak pound and significant investment in sales, marketing and engineering.
Shares in the AIM-listed company were down 29% to 132p by noon on Monday, having initially fallen to 117.5p, their lowest since May last year.

Metal Tiger, an AIM listed natural resources focused investing company, announced that it had received an indicative offer from Berkeley Mineral Resources (BMR) Group. BMR, a mining company that processes Lead and Zinc at Kabwe Mine in Zambia, has offered 0.231 of its shares for every one share in Metal Tiger’s stock.

Berkeley Energia has signed a binding off-take agreement with Interalloys Trading for the sale of the first production from its Salamanca uranium mine. The two parties have converted their letter of intent into a binding agreement, which includes doubling the annual contracted volumes to a total of £2m over a five year period, while there is potential to increase annual volumes further and extend the contract to a total of £3m.

Draper Espirit, an AIM-listed venture capital firm, recorded a gross primary portfolio value of £106.9m, an increase of £28.1m since its initial public offering (IPO), including new investments of £6.8m in the six months ended 30 September 2016. Revenue from trading activities including secondary and Enterprise Investment Schemes (EIS) funds was £0.7m.