UK SMALLCAP ROUNDUP: Fairfield Energy Launches $500M IPO

17th Jun 2010 09:30

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 FAIRFIELD ENERGY PLC, an oil and gas company, Thursday 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. GAME GROUP PLC (GMG.LN), a video game retailer, said it had a tough start to the fiscal 2011 and now expects full-year gross margins to fall around 100 basis points on the year. Ashtead Group PLC (AHT.LN) For the first 19 weeks to June 12 Game, said total group sales were down 11.4% on the year and sales from stores open more than a year fell 12%. Game also Thursday named Ian Shepherd as its new chief executive from June 28. Shepherd has spent the past four years at Vodafone Group PLC (VOD.LN), most recently as U.K. consumer director. At 0740 GMT, shares -6.75 pence or 7.7% at 81.5 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 an expanding product range gives it confidence for the year ahead. Chief Executive Officer Jonathan Glenn told reporters Consort is scouting for businesses that could add new capabilities or products to its Bespak unit, which makes valves and other components for inhalers. Drug handling and drug filling technologies are of interest, he said. At 0740 GMT, shares flat at 363 pence. ASHTEAD GROUP PLC (AHT.LN), a construction equipment rental company, said it has started reinvesting in its fleet in anticipation of a recovery in its markets in 2011. At 0741 GMT, shares +1.3 pence or 1.1% at 115 pence. 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 0741 GMT, shares +0.75 pence or 4.4% at 18 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 0741 GMT, shares -1.1 pence or 1% at 107.6 pence. DJ UK Smaller Cos -0.06% AIM -0.02% -By Jason Douglas, Hannah Benjamin and Rachael Gormley, Dow Jones Newswires; +44 (0) 20 7842 9272; [email protected] (END) Dow Jones Newswires June 17, 2010 04:30 ET (08:30 GMT)