News

Small cap round-up: Alpha Airports, ParOS, Monterrico Metals

01 June 2007 17:04:00

Italian firm AutoGrill has increased its stake in Alpha Airports after buying another 17.4% in the airport retailer and flight caterer, lifting its holding to 29.9% or 52.6m shares.

AutoGrill acquired 30,610,672 shares at 95p each from Servair through an off-market transaction. On Wednesday, the Italian group said it was considering whether to make an offer for Alpha.

Technology group ParOS was up on news that its Greek subsidiary ParOS Technology EPE struck a deal with Tropical SA, worth €25,000.

Under the terms of the contract, ParOS Technology EPE will design a prototype controller to be fitted to the air conditioning and refrigeration units of Tropical's small trucks and vans. The prototype controller is expected to be delivered in July 2007.

Monterrico Metals reported a sharp increase in pre-tax losses but said that the feasibility study at its Rio Blanco project, which is still in the development phase, shows potential.

Losses came to £2.3m for the year ended 31 December compared to a loss of £219,322 previously. £630,651 of the loss was caused by the weak dollar, it added.

In April, a consortium led by Chinese gold miner Zijin Mining bought more than half of the AIM listed miner in a deal worth 350p in cash per share.

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