Smaller companies report: Tuesday close
UK SMALL caps closed higher, in line with the broader market, with Equator Group continuing its impressive rally after it resumed trading yesterday.
By the close, the FTSE Small Cap index was 14.1 points higher at 3,503.8, having traded off a session low of 3481.7. The FTSE 100 ended up 4.9 at 5,846.2.
Among shares on the move today, Equator Group raked up a further impressive gain of 13p, or 70.27%, to 31½p. It resumed trading yesterday after releasing the details of its long-targeted reverse takeover of Hand Made Holdings, the film company set up by ex-Beatle George Harrison for £14.75m.
Meanwhile, Razorback Vehicles closed 2p better at 6.5p after saying it has entered into a five-year contract to supply wheelchair lifts to Australian taxi network for an undisclosed sum.
Provexis ended 1¼p better at 8½p - a near 18% gain - after the nutraceutical company that develops scientifically-proven functional and medical foods revealed a major international scientific endorsement for its lead product Sirco.
Two scientific papers, which detail the clinical efficacy of Sirco are to be published by the American Journal of Clinical Nutrition.
Elsewhere, Triple Plate Junction advanced 2¼p to 22½p as the AIM-listed gold exploration company started a 700m drill program at the Pu Sam Cap exploration license in the Lai Chau Province of Vietnam.
Assay results are still awaited, but early indications support the company's belief that Pu Sam Cap has the potential to host a substantial multi-metal deposit.
And Mediwatch ticked up 1p to 11p after the high-tech medical diagnostic equipment manufacturer and supplier, revealed that CR Bard Ltd has signed an extended distribution agreement to cover a further 45 countries in Europe, the Middle East and Africa.
The move followed news that Mediwatch has sold over one thousand bladder scanners, 800 of which have gone to to Bard.
On the earnings front, Zotefoams gained 2p to 82¾p after the foam manufacturer said it has had an encouraging start to the year.
On the downside, Media Steps Group dipped 0.5p, or 36%, to 0.87p after the provider of innovative outdoor advertising for stairways in public places warned it has yet to make any significant breakthrough in attracting long term commitments from major advertisers.
Consequently, trading continues at a level well below that necessary for break-even in profitability or cash flow.
Elsewhere, Ottakar's, the specialist book retailer, eased 25p to 303p after it said it has received a renewed indicative cash offer from HMV, the music and Waterstone's book store, at a price 'materially below' its current market price.
In a statement to the stock exchange Ottakar's said its board is not prepared to recommend the offer. However, talks between the two parties are continuing.
Acertec, a manufacturer of engineered steel products for use in the automotive and construction markets, staged a disappointing debut on Aim. Shares in the group, which raised £57m via a placing at 148p, stuck at 147p in volume of 1,364,578.
Another Aim newcomer, GeoPark Holdings, fared no better. Shares in the oil and gas company, with assets in Chile and Argentina, ran back from a placing price of 320p to 315½p with 200,518 shares traded.
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