UK SMALLCAP ROUNDUP: Intec Telecom In Early Offer Talks

26th Jul 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 INTEC TELECOM SYSTEMS PLC (ITL.LN), a billing software company, Monday said it is in very early discussions that may or may not lead to an offer for the company. Intec didn't name the other party in the talks and said there is no certainty an offer will be made. At 1404 GMT, shares +17.25 pence or 31% at 72.5 pence. RM PLC (RM.LN), a provider of software, computers and services to schools, said it expects to find out soon if it has won six Building Schools for the Future, or BSF, projects, although the amount of work required may be scaled back significantly from what was originally expected. RM plans to downsize its 60-strong strategic projects bid team and will book a restructuring charge this fiscal year of about GBP1.5 million. At 1404 GMT, shares -0.5 pence or 0.3% at 145.25 pence. CONNAUGHT PLC (CNT.LN), a support services firm, warned it will breach its banking covenants when its fiscal year ends Aug. 31 and its year-end net debt will be "significantly in excess' of the original GBP120 million it forecast less than a month ago. At 1404 GMT, shares -70.1 pence or 69% at 32 pence. NEWMARK SECURITY PLC (NWT.LN), a security systems company, said it expects lower revenue in the first half of the 2011 fiscal year on the year, due to orders being postponed before the U.K. general election and the emergency budget, following a 23% rise in pretax profit in the 2010 fiscal year. At 1403 GMT, shares -0.17 pence or 8.3% at 1.93 pence. UK COAL PLC (UKC.LN), a coal producer, said its non-executive Chairman David Jones and Chief Executive John Lloyd intend to step down after it decided to do away with their positions and appoint an executive chairman in a management restructuring. The coal mining company said it will now be led by two managing directors, who will run its mining and property businesses and report to a full-time executive chairman. At 1403 GMT, shares +2 pence or 5.6% at 38 pence. DIALIGHT PLC (DIA.LN), a manufacturer of LED lights, reported a near-tenfold increase in first-half pretax profit, driven by bumper sales of products like obstruction lights for mobile phone masts and customers restocking bare inventories. Chief Executive Roy Burton said Dialight is confident about its prospects for 2010. Demand for Dialight's products, which are hardier and more energy-efficient than traditional lighting, is underpinned by the companies' desire to save money, he said. The company also expects to win more business in two potentially large U.S. markets--obstruction lights for mobile phone masts and disconnect switches for "smart" electricity meters, said Burton. At 1403 GMT, shares +8.75 pence or 2.6% at 344.25 pence. PLANT HEALTH CARE PLC (PHC.LN), a crop technology company, said it signed a development and marketing deal for its yield-enhancing harpin product with agrochemicals giant Syngenta AG (SYNN.VX). Basel-based Syngenta intends to test a different formulation of harpin and its own glyphosphate herbicide to develop a combined crop treatment product, Plant Health Care said. Financial terms weren't disclosed. At 1402 GMT, shares +15 pence or 12% at 140 pence. BURST MEDIA CORP. (BRST.LN), an internet advertising company, said profit in 2010 is likely to fall "materially" below market expectations, after a media business it acquired last year underperformed in the first half. At 1402 GMT, shares -2 pence or 28% at 5.13 pence. OXFORD BIOMEDICA PLC (OXB.LN), a biotechnology company, said it received approval to begin a clinical trial of its cancer vaccine TroVax in men with prostate cancer. At 1402 GMT, shares +0.12 pence or 1.2% at 10 pence. DJ UK Smaller Cos +0.6% AIM +0.6% By Jason Douglas, Hannah Benjamin and Rachael Gormley, Dow Jones Newswires; +44 (0) 20 7842 9272; [email protected] Order free Annual Report for RM PLC Visit http://djnweurope.ar.wilink.com/?ticker=GB0002870417 or call +44 (0)208 391 6028 Order free Annual Report for Oxford Biomedica Plc Visit http://djnweurope.ar.wilink.com/?ticker=GB0006648157 or call +44 (0)208 391 6028 Order free Annual Report for Intec Telecom Systems PLC Visit http://djnweurope.ar.wilink.com/?ticker=GB0006725062 or call +44 (0)208 391 6028 Order free Annual Report for UK Coal PLC Visit http://djnweurope.ar.wilink.com/?ticker=GB0007190720 or call +44 (0)208 391 6028 Order free Annual Report for Dialight PLC Visit http://djnweurope.ar.wilink.com/?ticker=GB0033057794 or call +44 (0)208 391 6028 Order free Annual Report for Connaught plc Visit http://djnweurope.ar.wilink.com/?ticker=GB00B139BQ35 or call +44 (0)208 391 6028 (END) Dow Jones Newswires July 26, 2010 11:00 ET (15:00 GMT)