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RURELEC PLC (RUR.LN), a Latin America-focused power company,
said Tuesday it will seek at least GBP46 million in compensation
from Bolivia's government, after the state took over Rurelec's 50%
stake in a Bolivian electricity company.
Managing Director Peter Earl said the nationalization came as a
surprise and was made despite recent assurances to U.K. and French
officials that the Bolivian government wished to maintain European
private sector investment in Bolivia.
At 1046 GMT, shares -2.5 pence, or 26%, at 12.75 pence.
LONRHO PLC (LONR.LN), an African investment company, said
second-quarter revenue increased 25% on year following strong
trading at its fruit and vegetables shipping business and the
growth of its African domestic airline Fly540.
Chief Executive Officer Geoffrey White said Lonrho's Rollex
business, which transports fruit and vegetables from Africa
overseas, was affected by the closure of European airspace in
mid-April because of volcanic ash from Iceland.
However, White added that the net effect on Lonrho from the
eruption will be minimal.
At 1047 GMT, shares +0.5 pence, or 3.9%, at 13.5 pence.
ASHLEY HOUSE PLC (ASH.LN), a healthcare infrastructure company,
said it will miss fiscal year earnings expectations because of
costs associated with a restructuring, an acquisition and a
takeover approach for its property partner.
At 1047 GMT, shares -7.5 pence, or 14%, at 45 pence.
PATAGONIA GOLD PLC (PGD.LN), a gold explorer, Tuesday said it
raised GBP13 million in a share sale to fund its exploration and
development projects in South America.
Patagonia said the money raised will also be used to start work
on a trial of a heap leach operation at its Lomada de Leiva gold
project in Argentina.
At 1047 GMT, shares flat at 17 pence.
INSPIRED GAMING GROUP PLC (INGG.LN), a gambling software
company, Tuesday agreed to a GBP74.4 million takeover by U.K.
private equity firm Vitruvian Partners LLP.
At 1047 GMT, shares +9.5 pence, or 19%, at 59 pence.
VERNALIS PLC (VER.LN), a drug company, Tuesday said it extended
a research deal with French drug maker Servier.
At 1048 GMT, shares -1 pence, or 2.1%, at 47 pence.
STELLAR DIAMONDS PLC (STEL.LN), a diamond miner, Tuesday said it
agreed to buy the remaining stake in the Kono project in Sierra
Leone it didn't already own from peer Petra Diamonds Ltd. (PDL.LN)
for GBP900,000 in shares.
At 1048 GMT, Stellar shares +0.25 pence, or 1.8%, at 14.25
pence. Petra shares -0.25 pence, or 0.3%, at 85.75 pence.
AVOCET MINING PLC (AVM.LN), a gold miner, Tuesday said
first-quarter gold production increased 73% on year following the
start of production from its Inata mine in Burkina Faso.
Avocet said production is now at an annualized rate of more than
200,000 troy ounces and it expects to increase its resources over
the next 12 to 24 months.
At 1049 GMT, shares +2.5 pence, or 2.1%, at 124.5 pence.
RM PLC (RM.LN), an educational information technology vendor,
Tuesday said it will get about GBP8 million in revenue from its
contract to provide managed information and communication systems
for Essex County Council's schools program.
At 1049 GMT, shares flat at 177.5 pence.
GEONG INTERNATIONAL LTD. (GNG.LN) said Tuesday its fiscal 2010
pretax profit will be "moderately ahead" of market expectations
following a decision to reduce low margin, third-party product
revenue.
At 1049 GMT, shares +1.5 pence, or 4.3%, at 36.5 pence.
ANT PLC (ANTP.LN), a software provider to the digital media
industry, said Tuesday its Galio Platform has been licensed by a
European set-top-box maker which wants to target the fast-growing
hybrid broadcast broadband television market.
At 1049 GMT, shares +3 pence, or 11%, at 30.5 pence.
SAFESTORE HOLDINGS PLC (SAFE.LN), a U.K. self-storage firm, said
Tuesday it has secured a six-year contract to manage the Spacemaker
self-storage chain.
At 1050 GMT, shares +2.75 pence, or 2%, at 138.75 pence.
BEGBIES TRAYNOR GROUP PLC (BEG.LN), a U.K. insolvency
specialist, said Tuesday it has agreed new credit facilities
totaling GBP30 million which will allow it to consider acquisition
opportunities in the insolvency and restructuring sector.
At 1050 GMT, shares -0.75 pence, or 1%, at 76 pence.
DJ UK Smaller Cos -0.4%
AIM -0.4%
-By Hannah Benjamin, Rachael Gormley and Jason Douglas, Dow
Jones Newswires; +44 (0) 20 7842 9272; uksmallcaps@dowjones.com