Small cap round up
Africa and Europe-focused upstream gas company Sound Energy updated the market on its Tendrara licence, onshore Morocco, on Thursday.The AIM-traded firm said that, further to its announcement on 24 November, it has retrieved the TE-7 bottom hole memory gauges following the open hole well test, and can confirm that the reservoir pressure correlates with the gas gradient recorded at all previous wells on the structure.
Construction investor SigmaRoc is to buy channel Islands-based building product supplier Ronez for £45m in cash after raising £50m in equity.The AIM-listed company is to buy Ronez, a subsidiary of Aggregate Industries, which is part of the LafargeHolcim Group, a Swiss building materials manufacturer, as part of its growth stategy and for it to fund the company's wider business plan.
AIM-listed pharmaceutical Clinigen is to distribute BioQ Pharma’s post-surgery pain management drug, Ropivacaine Readyfusor. The company’s subsidiary Idis Global Access has agreed to supply and distribute the pre-filled Ropivacaine Readyfusor for post-operative pain management in Europe, apart from France and Germany.
The Mongolian government has approved the reassignment of interests in two oil blocks worth about $15m from Royal Dutch Shell to Petro Matad. The reassignment of blocks four and five were approved, which means that through its wholly-owned affiliate, Central Asian Petroleum Corporation, Petro Matad now owns 100% of the two blocks.
Ubisense group, an AIM listed enterprise location intelligence solutions provider, has appointed former chief executive of Asset Control Richard Petti as CEO starting 14 December 2016. Executive chairman Peter Harverson will revert to non-executive chairman in the first half of 2017.
Gresham Technologies, a software and services company specialising in providing real-time transaction control and enterprise data integrity solutions, has secured a fourth insurance contract with Clareti Transaction Control (CTC) for over £1.1m. CTC has been selected to improve financial control of payable and receivables within its broker business as part of a wider finance transformation programme.