Small cap round up

AIM-listed Elektron Technology has sold its rubber instrument manufacturing business to C&M Project for £300,000.The company sold Wallace, a manufacturer of rubber testing instruments, as part of its strategy of a “rationalisation of its portfolio” as it focuses its Connectivity, IMC (Instrumentations, Monitoring and Control) and Checkit businesses, while the funds from the sale will be used as working capital.

AIM-listed Amryt Pharma has secured a €20m loan from the European Investment Bank to secure its near and mid-term funding for its gel product and a development for a drug compound compound.The loan secures funding for its product Episalvan, which treats skin disorder Epidermolysis Bullosa, and provides capital to progress with the pre-clinical development of an orphan designated acromegaly drug compound, AP 102.

Technology company Mobile Streams has raised £2.2m on an equity placing to finance marketing ambitions in India. Simon Buckingham, chief executive, said: "As a mobile technology company, it seems only fitting that 43% of subscribers on PrimaryBid did so via mobile devices.The capital raised which will provide us with the working capital we require to commit to our planned marketing spend in India through to the end of the company's next financial year in 2018."

Executive chairman of Altona Energy, Qinfu Zhang, has confirmed the South Australian government has registered joint venture company Arckaringa Coal Chemical's petroleum exploration licence application over the ground required to advance the Arckaringa project. The project involves the evaluation and development of the company’s huge coal resources in the Arckaringa Basin of South Australia.

ThinkSmart, a provider of point of sale finance products, floated on AIM on Friday as it de-lists from the Australian Stock Exchange in order to align its listing to its place of business.The company is expected to de-list on ASE on 6 December.

Safestay’s chief executive Philip Houghton will step down from his role on 31 December. The company, which owns and operates a new brand of contemporary hostel, also announced the non-board appointment of Nuno Sacramento – currently head of customer operations at Carillion – as chief operating officer from 1 February 2017.