News

Shares in shell company Chariot fall after it said shares will be suspended from AIM on 31 January 2008.

Under rule 41 of the AIM Rules, Chariot has until 31 July 2008 to complete an acquisition or an investment otherwise the shares will be cancelled from trading on AIM.

"The board is confident an acquisition or investment in Chariot can be consummated by 31 July 2008," it said.

Contract services provider office2office bounced off recent lows on news that its contract with Her Majesty's Revenue and Customs (HMRC), has been extended by two years.

The contract to supply office products and related items, which had been due to expire on 1 May, has been extended by two years to 30 April 2010.

Colefax is higher after the upmarket wallpaper and fabrics group reported strong trading in all major markets and an "exceptional" performance by interior decorating division.

Pre-tax profit for the six months ended 31 October 2007 rose 34% to £3.32m on sales up 14% to £38.61m.

"Current trading has remained robust in the UK and Continental Europe, with a slight slowdown in the US," said chairman David Green.

Software solutions group Brady edged ahead on news it expects full year revenue and profit before tax to be slightly ahead of market expectations.

General Capital clawed back a little of its recent losses as the asset and venture finance specialist said it is benefiting from tighter credit conditions and a reduction in liquidity available to the small and mid corporate market.

Underlying earnings for the year ended 31 December 2007 are expected to be in line with forecasts, with market conditions expected to favour strong trading during 2008.

Zenergy Power was helped by E.ON Wasserkraft's decision to upgrade the high-temperature superconductive hydro-generator, currently under development for use at its hydro-electric power station in Bavaria on fully commercial terms.

The group, which develops applications for superconductive materials, said the upgrade would be from its current electrical capacity of 1.25 megawatt (MW) to that of 1.7 MW.

AIM-listed Petra Diamonds said revenue for the six months to 31 December 2007 will almost triple to $31.7m after Koffiefontein sales came on stream in July.

The group sold 115,918 carats sold during the period, up 79% on 2006, while production grew 17% to 101,213 carats.

Semiconductor group Cyan said since the publication of its interim results in September 2007, trading has remained in line with expectations.

The group said it has continued to make solid progress in implementing the new strategic business plan outlined at the time of the fundraising in July 2007.

Insurance broker THB Group rose after it said it is in the final stages of acquiring the UK and European-based business and certain assets of PWS International Ltd, together with some assets of PWS Group Services Ltd and PWS Holdings plc, including selected overseas interests. THB will pay £8.5m for the interests.

Renewable energy firm Novera said pro-forma revenue for the twelve months to December 2007 was 10% higher at £34.4m.

The group said trading and operational performance before development spend has been broadly in line with expectations.