UK SMALLCAP ROUNDUP: Central African Gold Holders Sell Stakes

17th Jun 2010 16:00

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps CENTRAL AFRICAN GOLD PLC's (CAN.LN) shares soared Thursday after the gold mining and exploration company's three largest shareholders sold their stakes to New Dawn Mining Corp. (NEDMF), giving it an 89% controlling stake in the company. New Dawn said the acquisition represents a substantial increase in its gold mining business and builds on a commitment to gold mining in Zimbabwe. At 1430 GMT, shares +0.73 pence, or shares more than doubled, to 1.33 pence. CONSORT MEDICAL PLC (CSRT.LN), a medical device company, reported a 13% decline in fiscal-year profit, hurt by lower sales and a restructuring, but said new products like an automatic injector for India's Dr. Reddy's Laboratories Ltd. (500124.BY) will drive growth this year. Consort, which makes valves, actuators and other components for inhalers used to for asthma and similar conditions, said its pharmaceutical company customers are showing "considerable interest" in its broader range of products following its 2009 purchase of smaller peer The Medical House, which makes automatic injectors for complex biologic drugs. At 1430 GMT, shares +2 pence, or 0.5%, at 365 pence. MANAGEMENT CONSULTING GROUP PLC (MMC.LN), a professional services company, Thursday said its open offer to raise GBP25 million was oversubscribed. The firm, which has now closed the offer, said applications for excess shares will be scaled back by about 35% due to the level of oversubscription. The company announced a share sale and firm placing last month, which it said would allow it to trim its debts and ensure it doesn't breach the terms of its loans if trading gets worse. At 1430 GMT, shares -0.25 pence, or 1%, at 24.5 pence. CARETECH HOLDINGS PLC (CTH.LN) Thursday upped its interim dividend 15% on a bullish outlook for the resilience of its services in the face of cuts to government spending, and said it is looking to expand after buying three new businesses. Group Finance Director David Pugh said the firm has a pipeline of 15 potential acquisition opportunities, as it eyes the addition of another 1,000 beds to its capacity in the next three to four years. At 1430 GMT, shares +12 pence, or 3.3%, at 359 pence. MULBERRY PLC (MUL.LN), a luxury fashion brand, Thursday said it is eyeing its first Chinese store, and anticipates opening its first shop in the region within the next couple of years. The firm earlier Thursday reported a 23% jump in fiscal 2010 sales driven by stronger-than-expected demand from tourists and overseas. Pretax profit in the year to March 31 climbed to GBP5.1 million from GBP4.2 million the previous fiscal. At 1430 GMT, shares +25 pence, or 12%, at 225 pence. GAME GROUP PLC (GMG.LN), a video game retailer, Thursday named former Vodafone Group PLC (VOD.LN) executive Ian Shepherd as its new chief executive but said management would continue to face tough trading conditions after a difficult start to the fiscal 2011. At 1430 GMT, shares -5 pence, or 5.8%, at 83 pence. MARWYN INVESTMENT MANAGEMENT LLP said it has bought a loss-making gas transport business from National Grid PLC (NG.LN) and intends to bring it to London's junior Alternative Investment Market with a GBP11 million fundraising. Investor Marwyn said it plans to turn the company around and re-establish it as a market leader in gas connections and transport. M WINKWORTH PLC (WINK.LN), a U.K. estate agents franchiser, said its housing transactions have increased 91% on year in the first five months of 2010, due to renewed confidence in bricks and mortar, although some uncertainty has returned to the market with the election of the new coalition government. At 1430 GMT, shares flat at 82.5 pence. COLLINS STEWART PLC (CLST.LN) said it has acquired wealth management firm Andersen Charnley Ltd. and its subsidiary Andersen Charnley Investment Management Ltd. as part of its strategy to grow its wealth management division. Following the acquisition, Collins Stewart's wealth management division will manage and administer GBP6.8 billion of assets. At 1430 GMT, shares +1 pence, or 1.4%, at 72.75 pence. FAIRFIELD ENERGY PLC, an oil and gas company, said it intends to raise up to $500 million in an initial public offering in London to spend on developing its assets in the North Sea. NYOTA MINERALS LTD. (NYO.AU), an Ethiopia-focused gold explorer, said it has made a new discovery at its flagship Tulu Kapi gold project. The company said drilling confirmed the presence of a new mineralized structure beneath its current resource, which stands at 1.38 million troy ounces. At 1102 GMT, London-traded shares +1 pence, or 5.8%, at 18.25 pence. GRAINGER PLC (GRI.LN), a property company, said it is in talks with fund manager Moorfield about setting up a joint venture with one of Moorfield's funds to become a funding partner in the equity release investments portfolio of its new acquisition. At 1430 GMT, shares +3.8 pence, or 3.5%, at 112.5 pence. DJ UK Smaller Cos -0.07% AIM +0.04% -By Hannah Benjamin, Rachael Gormley and Jason Douglas, Dow Jones Newswires; +44 (0) 20 7842 9298; [email protected] (END) Dow Jones Newswires June 17, 2010 11:00 ET (15:00 GMT)