Small caps round-up: Aminex, Helesi, Powerflute...

4th Feb 2011 11:31

Aminex has proposed to up its interest in the Nyuni Production sharing agreement in Tanzania from 50% to 65% through a farm-in agreement with Key Petroleum. "A further acquisition of interest in the Nyuni PSA is a logical expansion of our activities and confirms our strong commitment not only to the Nyuni PSA itself but to Tanzania and the East African margin generally, now a focus of high oil industry interest," says Aminex chairman Brian Hall.2010 revenues for Helesi - the Greece-, Italy- and Cyprus-based waste management group - were 32% lower than the previous year at €50.5m due to reduced activity "and the implementation of fundamental reforms to local municipalities and communities."Earnings before interest, tax, depreciation and amortisation were €4m, compared with €12.7m previously. "The second half of 2010 has continued to be challenging, although we are seeing an improvement in the political situation in Greece," the group said.Shares in Nordic packaging and paper group Powerflute fell after its Graphic Papers business was hit by lower order intake and the rising price of pulp. While its Packaging Papers business had a strong final quarter with strong demand and improved operating margins, the group says that full year results will be "comparable with the underlying trading performance achieved in the prior year."Indian film group DQ Entertainment's revenue for the third quarter was 432.42m rupees (YTD Rs. 1,297.81m) and the profit for the quarter Rs31.49m (YTD Rs117m), which is as per the company's plan for financial year 2010-11. During the quarter the Rupee's adverse fluctuations with other currencies impacted the financials resulting in an exchange loss of Rs5.12m. The current order book stands at Rs6300m, which is to be executed over the next 30 months.KEFI Minerals has conditionally raised £1.3m by way of a placing at 5p per share.John Kennair, who paid £3.97m into a subsidiary of specialist glass group Romag without telling the rest of the board, has stepped down as chairman and will leave when it finds a replacement as chief executive. Non-executive director, David Gray takes over as chairman. David Banks, stays on as finance director, as he was unaware of the transactions of Mr Kennair. Romag shares remain suspended while refinancing talks are underway.