Small caps news round-up
Shareholders in 32Red were gifted a bonus payday on Wednesday, with the announcement the company was to pay a special dividend off the back of some record numbers.The AIM-traded remote gaming operator said that the dividend would be paid on 16 March, to all shareholders on the register on 19 February 2016.
Boxhill Technologies managed to administrate its way out of a VAT difficulty on Wednesday, restructuring itself away from an acquired business and moving its 2015 year-end out by six months.The AIM-traded lottery, software, gaming and leisure company initially purchased subsidiary PayCorp in 2013, but had been unable to satisfactorily address an outstanding VAT matter it identified in 2014.
Frontier Developments was still transitioning to a self-published developer in the first half of the year, with the company continuing to make a profit through a period of significant investment. The AIM-traded video game developer reported recognised revenues for the six months to 30 November 2015 of £10.9m, up 50% from the first half of the previous year.
Metal Tiger's interests in Thailand were progressing well, its board said in Wednesday, with new opportunities in the south east Asian nation also being identified. The AIM-traded investor in natural resource opportunities said its Thailand team was now fully established, with operations proceeding well on original joint venture interests.
Shares in WANDisco gave up most of their strong gains from last week after the Big Data software specialist reported that revenues would be below the level expected though losses will be better than forecast. The AIM-listed company, which has a huge helter-skelter installed to amuse staff in its Sheffield offices, said revenues for the calendar year were hit by lumpy new sales bookings, though revenue benefitted from deferred earnings released from the prior year.
4D Pharma expanded its research capabilities on Wednesday, acquiring university-based startup Tuscana Health Limited.The AIM traded pharmaceutical company, focused on the development of live biotherapeutics, said Tuscana - based at University College Cork - was founded to investigate the use of microbiome signatures to aid the diagnosis and treatment of diseases.
Shareholders in Pinnacle Technology were proving their loyalty to the firm on Wednesday, with the company revealing its previously-announced open offer had been significantly oversubscribed. On 22 January, the AIM-traded provider of converged technology solutions announced it had conditionally raised £4.55m before expenses, through the issue of 108,392,857 new ordinary shares by way of a placing.
Artilium was strengthening its call centre offer on Wednesday, announcing the acquisition of both Livecom International BV and the Chinese joint venture of Livecom. The AIM-traded provider of telecommunications software and solutions said the acquisition was expected to be immediately earnings-enhancing, by adding new services to the call centre portfolio of Artilium subsidiary Comsys.
Real Good Food’s wholly-owned subsidiary Haydens Bakery has bought Chantilly Patisserie for £1.75m, using existing cash resources. For the 12 months to March 2015, Chantilly – a Devon-based producer of handmade frozen desserts – had turnover of £2.5m and earnings before interest, taxes, depreciation and amortisation of £500,000.
Cannabis-derived medicines specialist GW Pharmaceuticals posted a £17.7m loss in the first quarter as it gears up to report data from four Phase 3 trials for its Epidiolex product. GW made £3.7m revenue in the three months to 31 December from its Sativex, less than half the £8.0m a year ago when fees from partners for research and development were higher, with losses also ramped up as research and development spending increased by £9m to £24.1m.
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