As Greece and the UK Budget were a big part of the chatter, there was a mixed bag of small cap news on Tuesday.
Mobile security surveillance firm Servision (LON:SEV) saw shares rise over 6% as it revealed it is to provide its technology at Gatwick airport - the UK's second busiest - as it also updated on its UK expansion plans.
Gatwick has placed an initial purchase order of around £20,000 for the group's live mobile CCTV systems - MGV400s on 12 vehicles - and monthly data services. the tech firm reported.
It is the first order for Servision's new UK-based management team. The company is planning to open a UK office in Manchester soon.
Elsewhere, Oilex (LON:OEX) has unveiled plans to raise US$23mln (A$30mln) through the sale of new shares, the majority of which will be bought by Australian group Zeta Resources.
It represents a major recapitalisation for the company, which at a price of 2.12p has a current market value of just under £14.5mln.
Proceeds of the share sale will be used to fund a 'transformational' work programme over the course of 2015 and 2016, Oilex told investors.
Graphite miner StratMin Global Resources (LON:STGR) has raised £625,000 to fund work on a bankable feasibility study at its new Mahefedok project in Madagascar.
Mahefedok is the adjacent to the company’s mine at Loharano and the fund raise follows a recent joint venture with Madagascan group, Tirupati Carbons, over another graphite deposit on the island, Vatomaina.
The placing, at 4p, will see the holding of Stratmin’s controlling concert party fall slightly to 35.07%. Shares eased around 13% lower on the day.
Northcote Energy (LON:NCT) and its Mexican partner Gaia Ecologica have secured a property for its first scalable environmental waste remediation facility.
The 22 acre site, in the State of Tabasco, will recycle oil cuttings and provide oil field services to both onshore and offshore operations.
It is close to areas of considerable industry activity, close to the port and major oil fields and is expected to see higher levels of future drilling activity following the re-opening of Mexico’s oil and gas sector to foreign investment.
DekelOil (LON:DKL) is set for a step-change in profitability, executive director Lincoln Moore said, as the company released bumper production figures for the first half of 2015.
The Ayenouan mill in the Ivory Coast produced 21,836 tonnes of crude palm oil (CPO) in the first six months of this year, which includes the peak harvest between March and June. It represents a 53% increase on the 14,242 tonnes that were produced in the whole of 2014.
The mill achieved a 24% extraction rate, from 90,879 tonnes of fresh fruit bunches; this compares favourably to other operations, Dekel said.
During the six month period Dekel sold 19,184 tonnes of palm oil. As a result of strong local and regional demand, it achieved a premium average of €617 per tonne. DekelOil shares eased 1.1% to 1.225p.
Tech firm Globo (LON:GBO) would see only a limited impact if Greece left the Eurozone and might benefit as it would lower its cost base, the organiser app specialist said.
While saying Greece’s departure from the Eurozone would be “unfortunate”, operations were now predominantly international and Greece’s predicament would have only a limited negative impact on operations.
Meanwhile, AdEPT Telecom (LON:ADT) has boosted the full year dividend by 58.3% after racking up its twelfth consecutive year of increased underlying earnings.
Underlying earnings (EBITDA) in the year to 31 March rose 13.5% to £4.6mln from £4.0mln the year before, on the back of a 5.8% increase in revenue to £22.1mln (2014: £20.9mln), the fast-growing business-to-business telecommunications services provider said.
Profit before tax rose 15.3% to £1.5mln from £1.3mln the year before, and free cash flow remained impressive, with positive cash flow after interest of £4.3mln, versus £2.6mln the year before.
With funding plans announced today, Europa Oil & Gas (LON:EOG) is setting itself up for success, says chief executive Hugh Mackay.
Europa aims to raise £3.4mln through a share sale, with £1.4mln already secured through a conditional institutional placing. Existing shareholders now have the opportunity to subscribe for a total £2mln worth of additional new shares.
New shares will be issued at 6p each, a 20% discount to Friday’s closing price.
Nevada focused US Oil & Gas (GXG:USOP, OTC:USOPY), which is also listed in New York, reported that GXG markets had relinquished its Danish market operator licenses and that the firm aims, if possible, that trading of the firm's shares will continue with minimum disruption.