Small cap round up
AIM-listed healthcare provider Circle Holdings has sold land in Manchester to the Department for Communities and Local Government for £9.1m. The proceeds of the £9.1m plus VAT will be used as working capital and to fund future growth opportunities.
Investors in manufacturing and specialist services firm Redhall Group were gathering in Leeds on Wednesday for their annual general meeting. The AIM-traded company’s chairman, Martyn Everett, reiterated the board’s December promise that it will focus on delivering further improvements in profitability and operational performance and building a robust platform for a sustainable period of growth in the current year.
Shares in Beowulf Mining tanked and were suspended after the explorer's application for an exploitation concession for its Kallak North property was referred by the Norrbottenback County Administrative Board back to the Mining Inspectorate of Sweden. The AIM-listed outfit suspended its shares from trading "until further clarification on the situation can be given".
Internet-of-things company Telit Communications confirmed on Wednesday that it has agreed to acquire GainSpan Corporation for $8m in cash, subject to certain working capital adjustments. The AIM-traded firm said GainSpan designs, develops, manufactures and commercialises ultra-low power Wi-Fi systems-on-chip and modules for battery and line-powered devices.
Kennedy Ventures has raised £1.25m before expenses through a placing of 13.9m new shares at a price of 9p each. The company has an interest in the Tantalite Valley Mine through its stake in African Tantalum (Aftan).
Sound Energy said an early estimate of its Tendrara and Meridja permit areas in Morocco put unrisked original gas in place of up to 31trn cubic feet (tcf), or 17tcf as a mid case.The AIM-listed company, which has a 27.5% interest in the Tendrara licence and an option to acquire a 55% interest in Meridja, last month conducted various tests and has now received an initial basin model, from which it made internal estimates of volumes.