UK SMALLCAP ROUNDUP:Paperchase Sold To Private Equity For $31M

13th 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 BORDERS GROUP INC. (BGP), a U.S. bookseller, said Tuesday it has agreed to sell U.K. stationary firm Paperchase Products Ltd to private equity firm Primary Capital Ltd for around $31 million. London-based Paperchase sells its stationery and greeting cards in the U.K. through 65 owned stores and 35 concession units in retailers such as House of Fraser, Selfridges and Harrods. DTZ HOLDINGS PLC (DTZ.LN), an international property consultancy, posted a narrower fiscal-year loss following its strategic review and restructuring program but said it remains cautious on the outlook for the global property market this year. "We remain cautious on the U.K. due to uncertainty on government spending and the impact of this, and in continental Europe, we're still quite concerned about the impact on the euro zone of the debt overhang," said Chief Executive Paul Idzik. At 1437 GMT, shares +2 pence, or 3.3%, at 62.5 pence. MONITISE PLC (MONI.LN), a developer of banking services for mobile phones, said it plans to continue growing by entering new emerging markets, and that fiscal 2010 revenue is expected to have more than doubled on the year. The firm, which recently entered a joint venture to develop its presence in India and the Asia-Pacific region, said it is keen to broaden its reach is in talks about signing a similar deal in Africa this year. At 1438 GMT, shares +1.75 pence, or 8.3%, at 22.75 pence. JOHN WOOD GROUP PLC (WG.LN), a U.K.-based energy services provider, said its Mustang subsidiary has been awarded a contract by Colombia's national oil company, Ecopetrol (EC), to evaluate how to optimize polymer production at Ecopetrol's petrochemical complex. No financial details of the deal were provided. At 1438 GMT, shares +5.8 pence, or 1.7%, at 353 pence. BGLOBAL PLC (BGBL.LN), a metering services company, said it expects to move into profit for fiscal 2011 following a first quarter in the black, adding that orders for its smart meters could increase further if the U.K. government speeds up its plans for the devices. The firm's fiscal 2010, ended March 31, pretax loss narrowed to GBP670,000 from a GBP4.3 million loss a year earlier. At 1438 GMT, shares +0.25 pence, or 0.7%, at 36.5 pence. AFRICAN MINERALS LTD. (AMI.LN), an iron ore miner focused on Sierra Leone, said it agreed a $1.5 billion investment in its Tonkolili project from Shandong Iron & Steel Group Co., in a deal that underscores China's appetite for raw materials to fuel its economic expansion. At 1439 GMT, shares +53pence, or 14%, at 438 pence. YOUNG & CO'S BREWERY PLC (YNGA.LN), a U.K. pub chain operator, said sales from its managed pubs open more than a year rose 2.4% in its fiscal 2011 first quarter. The firm said total managed house sales rose 2.1% in the same period, while it said an improved second half performance at its hotels has continued into the current year. At 1439 GMT, shares flat at 520 pence. DUNELM GROUP PLC (DNLM.LN), a homeware retailer, said trading in fiscal 2011 is expected to be much tougher than the year just gone, even though it ended the fiscal year strongly and expects to top analysts' operating profit expectations. At 1439 GMT, shares +19.8 pence, or 5.5%, at 377.8 pence. LOW & BONAR PLC (LWB.LN), a supplier of yarns and fabrics, reintroduced an interim dividend following a swing to a first-half pretax profit on the continued improvement in sales. The company told Dow Jones Newswires it is considering bolstering its presence in regions like China and the Middle East largely through joint ventures. At 1440 GMT, shares -4.5 pence, or 10.5%, at 38.5 pence. INDIAN ENERGY LTD. (IEL.LN), a developer of wind farms in India, reported a wider fiscal-year loss due to the cost of joining the stock market, but said it is on track to hit its target of being able to generate 300 megawatts of electricity by 2013. The firm told Dow Jones it is seeking to raise roughly GBP120 million from equity markets to help fund the development of its pipeline of wind projects in India. At 1440 GMT, shares -4.25 pence, or 8.8%, at 44 pence. LUMINAR GROUP HOLDINGS PLC (LMR.LN), a nightclub operator, said the recent soccer World Cup tournament dented sales in its most recent 19 weeks' trading, with comparable sales plunging 19.9% in the period. At 1440 GMT, shares -1.25 pence, or 11%, at 10.25 pence. ARK THERAPEUTICS GROUP PLC (AKT.LN), a biotechnology company, said it is in talks with potential buyers of its wound care business. The company, which launched a strategic review after its experimental brain cancer medicine Cerepro was rejected by European drug regulators earlier this year, said a number of companies are completing due diligence on its wound care unit and negotiations are in progress. At 1441 GMT, shares -0.38 pence, or 7.8%, at 4.5 pence. DJ UK Smaller Cos +0.3% AIM +0.7% -By Rachael Gormley, Jason Douglas & Hannah Benjamin, Dow Jones Newswires; +44 (0) 20 7842 9272; [email protected] (END) Dow Jones Newswires July 13, 2010 11:00 ET (15:00 GMT)