Small caps: Quayle Munro, NetPlayTV

23rd Apr 2010 07:59

Merchant bank Quayle Munro will top market expectations this year after its advisory arm continued to trade well in the second half of the year."The company now reports that the advisory business continues to trade well, as a result of which underlying profits for the full year are likely to exceed market expectations," it said in a brief statement.Interactive gaming group NetPlayTV will be a launch partner on ITV1's new teleshopping trial window 'The Zone'. NetPlayTV has entered into a six month "teleshopping" airtime trial agreement with ITV to broadcast fully interactive transactional TV gaming formats on ITV1 starting during May 2010. A bingo TV show within 'The Zone' will feature quick fire keno and bingo rounds. NetPlayTV will also broadcast its existing Roulette Nation interactive gameshow in an additional 30 minute segment.Shares in Irish zinc explorer Connemara jumped after drilling at its Stonepark project in zinc provided further confirmation of a high grade zinc discovery.'Exploration will continue to outline the extent of this zone and will try to find others like it,' the company said.Investment company Brainspark has pumped £0.14m into Indian Restaurants Group (IRG) in return for a 29.9% stake in the AIM-listed restaurant firm Brainspark is paying the equivalent of 2.5p in cash per IRG share. Haresh Kanabar is director of both IRG and Brainspark but holds no shares in either.Eastern European Property Fund will be seeking approval at its next annual general meeting (AGM) to change its investing policy to allow a greater focus on an Istanbul-based portfolio. The company will also seek approval for the use of any funds raised from property disposals to be optionally used to buy back shares. It is anticipated that, subject to sufficient liquidity in the shares, the board would commence a buyback of shares if the current 56.6% discount of share price to net asset value persists.Leed Petroleum has confirmed that it has been awarded the Grand Isle block 96 lease in the Central Gulf of Mexico Minerals Management Services (MMS) Lease Sale 213, having received all necessary MMS approvals.The AIM-listed oil and gas exploration and production company bid $427,699 for the block which is situated next to its Grand Isle 96 and 100 blocks.Leed will own a 100% working interest and a 79.75 % net revenue interest in the block. The lease will run for an initial five year term.