Small caps round-up: Mears, ITM, Matra...

9th Jun 2010 07:26

Social housing group Mears will repeat last month's interim management statement at its AGM today, highlighting continued strong trading across the business."Mears is well positioned to benefit from an active contract bidding market and remains confident in the prospects for the future growth of the group," it concludes.Clean fuel specialist ITM Power has signed trial deals with DHL Supply Chain and London Stansted Airport for ITM Power's transportable high pressure refuelling unit (HFuel). Matra's latest update on its well 13 on the Sokolovskoe field, in the Orenburg region of Russia, is more encouraging than its previous. As flagged earlier, the reservoir quality at the well-13 location is lower than expected, but Matra now says the field is likely to cover a greater area than originally estimated. Oxus Gold has paved the way for the receipt of $85m in new funding from a Chinese consortium through the issue of new shares and convertible loans. Warrants worth $20m will also be issued in return for an undertaking to arrange a further minimum of $80m in project finance.