News

Small caps round-up: Plasmon, Mobestar, Northacre

07 October 2008 09:34:00

Optical drives maker Plasmon said its newly appointed administrators are in talks with a number of interested parties and are hopeful that a sale of the remaining business can be achieved.

The administrators do not believe that there is likely to be any value realised for Plasmon shareholders, it added.

Plasmon also said that administrators are continuing to trade the company's UK and European sales and marketing division alongside the continuing operation of its US subsidiary, Plasmon Inc.

The group's shares have been suspended on 29. September.

Mobestar said it is currently seeking to appoint administrators after it has been unable to secure further funding.

Trading in the group's shares has been temporarily suspended pending clarification of its financial position.

Northacre said despite the absence of any development profit, it has been another year of progress residential property developer.

"Although the prime sector for residential property is not entirely insulated from the current financial turmoil, it remains our firm view that the demand and core values in this sector of the property market, will in the main, continue to hold up," said the group.

The group added that it believed the global economy will begin to recover before the end of its construction programme of developments in hand.

Customer monitoring software firm GB Group said it it has experienced positive trading within the first half of its financial year.

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