Small cap news round-up
Andalas Energy and Power announced on Thursday that it has signed an agreement with PT Pertamina to establish a joint working and steering committee with the objective to fast-track commercialisation of marginal gas fields within Pertamina’s acreage in Indonesia.
The AIM-traded company said the execution of the agreement represents “substantial progress” by Andalas in the implementation of its gas-to-power strategy.
Shares in corporate presentation, entertainment and broadcast service provider Avesco soared 15% on Thursday as it reported full year results will be well ahead of market expectations.
The AIM-listed company said its summer trading had been strong, particularly the creative technology division in London which benefited from the Rio Olympics as it provided equipment and services to many of the ceremonies and events.
Credit lender Morses Club said since listing on AIM in May the company is trading in line with expectations.
Total credit issued rose by 16% to £66m for six months to 27 August, compared to the same period last year, due to expansion in new territory, strategic growth initiatives and acquisitions. The company said impairment was in line with the lower end of the its target range.
Gene editing technologies company Horizon Discovery Group announced on Thursday that it has entered into a co-development and commercialisation agreement with Ventana Medical Systems, a member of the Roche Group.
The AIM-traded firm said the agreement covers the development, manufacture and commercialisation of cell line derivative materials for use as IHC Reference Standards in cancer tissue diagnostics to support the development and validation of IHC assays.
Tanzania-focused mineral exploration and development company Kibo Mining announced on Thursday that it has re-negotiated terms for the payback of a £1.5m loan facility provided by Sanderson Capital Partners in March.
Under the existing terms of the Facility, the AIM-traded firm was required to pay back the loan in either cash or ordinary shares in Kibo by 31 August.
LED illumination systems and laser diode modules designer and manufacturer ProPhotonix announced on Thursday that it will be exhibiting its range of UV LED curing systems at Label Expo Americas in the middle of September.
The AIM-traded firm said that in recent months, it has launched the COBRA Cure FX series of UV LED curing Systems, designed specifically for UV curing of inks, coatings and adhesives.
It will exhibit its full range of solutions for the first time at the Label Expo Americas event.
Gold and base metals exploration and development company Stratex International announced on Thursday the appointment of Marcus Engelbrecht to the board and as chief executive officer, replacing current CEO and founder director Dr Bob Foster, who is retiring after more than 10 years.
The board of the AIM-traded firm said Engelbrecht is a senior executive with 30 years' experience in the global mining industry at board level.