News

Small caps roundup: Smart, Petrolatina, EBTM

10 January 2007 13:43:00

Smart Telecom's acting chief executive Ciaran Casey and director Brian Timmons will leave the Dublin-based telecoms group.

The group is currently in the process of being taken over by investment company Calally Ltd, which should be completed in the first quarter of 2007 and will result in the delisting of Smart from the AIM market.

John Riorden will be appointed as chairman and chief executive of Calally, with effect from 3 February 2007.
Petrolatina Energy said it noted the recent rise in its share price but was not aware of any matters that require it to make an announcement at this moment. It added that it is continuing appraisal activities on Licence 61 in the Tomsk Oblast, Western Siberia.

Fashion retailer EBTM said for the six months to October 2006 pre-tax losses increased to £293,000 compared with £122,000 last time. Turnover rose to £520,000 from £41,000 previously.

It added that sales in the six week Christmas trading period exceeded expectations and were over £350,000, up 275% from the same period in 2005.

Biodegradable medical implants developer Inion said net loss for the year will be higher than expected due to a number of one-time write-offs, which will be in the region of €7m. It includes a deferred tax asset of €4.1m.

Based on un-audited figures for the year to December, the directors anticipate revenues for 2006 will be around $5.7m, in line with current expectations.

Health IT group Ascribe said trading performance for the six months ending December 2006 was in line with expectations and it expects to trade similarly in the second half.

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