Small caps: Quintain Estates, Angel Mining, Medavinci ...

9th Aug 2010 14:02

Quintain Estates has sold Pier Walk at Greenwich Peninsula to a subsidiary of DekaBank Group, Germany's largest manager of open-ended property funds for £97m. The building, close to the 02 arena, is currently occupied by Transport for London, on a ten-year lease. The sale price is about £1.1m more than anticipated when the building was put up for sale and a 6% uplift in asset value since March.Angel Mining has extended the repayment deadline on a $21m short-term bridging loan until the end of the month. Angel added talks over a $100m debt and equity subscription facility are nearing completion and the company will announce further details in due course. MedaVinci is to acquire 49% of Orogen Gold for £370,000, with an option to acquire the remaining 51%over the next 12 months. A placing will raise approximately £842,000, before expenses, through the issue of 21m new shares at 0.2p per share. Orogen Gold will focus on the Deli Jovan Gold Project, a 69 sq km permit area in eastern Serbia.Shares in Caza Oil & Gas fell back after chief executive Michael Ford said results for the company's Matthys-McMillan Gas Unit #2 well in Texas had been disappointing to date.'The company also posted a fall in revenues to $399,020 in the three months to June 30 from $561,823 over the same quarter the previous year.Care home operator Southern Cross Healthcare saw revenues increase to £238m in the quarter to June 30, from £236m in the same quarter the previous year, but warned over public sector spending cuts.'Whilst the longer-term fundamentals for residential care remain positive, the short-term outlook is challenging as pressure grows to reduce overall public sector spending,' the company said.