UK SMALLCAP ROUNDUP: Asos Expects Percentage Of Revenue From Overseas To Rise

Date : 04/26/2012 @ 11:30AM
Source : Dow Jones News
Stock : Barrick Gold Corp. (ABX)
Quote : 16.66  0.42 (2.59%) @ 12:39PM

UK SMALLCAP ROUNDUP: Asos Expects Percentage Of Revenue From Overseas To Rise

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HIGHLAND GOLD MINING LTD. (HGM.LN) Thursday saw its free float increase substantially after Barrick Gold Corp. (ABX) sold its entire 20.4% stake in the Russia-focused gold producer through an accelerated bookbuild at 120 pence a share.

Highland welcomed the divestment, saying it is looking forward to the engagement with the new shareholders that the increased free float brings. The bookbuild was undertaken with institutional investors.

At 1430 GMT, shares -4 pence, or 2.9%, at 127.8 pence.

ASOS PLC (ASC.LN), the London-listed online fashion retailer, expects the percentage of its revenue coming from overseas to continue to rise as trading in the U.K. remains challenging, Chief Executive Nick Robertson said.

International sales now represent 62% of total sales, up from 51% last year, and Robertson can see that rising to 90% in the future, he told Dow Jones Newswires following the firm's fourth-quarter trading statement.

Shares -213 pence, or 13.3%, at 1385 pence.

NAMAKWA DIAMONDS LTD. (NAD.LN) said that despite the operational problems it has faced at its flagship Kao mine, it expects to become the biggest producer of diamonds in Lesotho in the next 12 months and to become net cash generative in the second half of fiscal 2012.

In the fiscal first half to Feb. 29, the company's revenue fell dramatically and its net loss widened marginally as it closed a large swathe of its diamond cutting, polishing and trading business to focus on mining at the Kao mine in Lesotho.

Shares flat at 3.4 pence.

BORDERS & SOUTHERN PETROLEUM PLC (BOR.LN), an oil explorer, said it has raised GBP46.5 million in a share placing to fund further exploration and appraisal work around the Falkland Islands, after announcing a large condensate gas find on Monday.

"The proceeds of the placing will strengthen our already robust balance sheet and allow Borders & Southern to complete additional work including additional seismic and analysis to better understand the recent drilling results," Chief Executive Howard Obee said.

Shares +1.0 pence, or 1.2%, at 85.0 pence.

VECTURA GROUP PLC (VEC.LN), the U.K. developer of inhaled therapies for the treatment of respiratory diseases, reported an unchanged full-year loss and said it preserved a strong balance sheet.

The loss before tax in the year ended March 31 was GBP13.2 million, compared with a loss of GBP13.3 million the previous year, while revenue fell to GBP33 million from GBP42.9 million previously.

Shares +4.0 pence, or 5.6%, at 66.8 pence.

ENQUEST PLC (ENQ.LN), the North Sea-focused oil company, said it has agreed to buy a 15% interest in the Kraken oil discovery from privately owned First Oil PLC for up to $144 million, raising its stake to 60%.

Following the deal, which is subject to regulatory, partner and shareholder approval, First Oil will hold a 15% stake in Kraken, Nautical Petroleum PLC (NPE.LN) will hold 25% and EnQuest will hold the remainder.

Shares +2.0 pence, or 2.0%, at 124.4 pence.

GOALS SOCCER CENTRES PLC (GOAL.LN), the five-a-side football specialist, said that since the end of 2011 it has traded in line with market expectations and remains confident of continued progress in 2012, underpinned by significant potential in the U.S.

In a planned statement to shareholders at its annual general meeting later, Chairman Rodney Walker will say sales and profit have grown steadily from its U.S. operations and the board believes there is significant potential for further growth.

Shares flat at 128.5 pence.

PURICORE (PURI.LN), the U.K. water-based clean technology company, reported a 29% rise in first-quarter sales, thanks to a strong order book for the U.S. supermarket retail business and increased spending by the U.K. National Health Service.

Sales in the three months ended March 31 increased to $14.2 million from $11.1 million in the same period last year, with supermarket retail sales up 60% to $7.4 million.

Shares +1.0 pence, or 1.7%, at 61.5 pence.

VISLINK PLC (VLK.LN), the U.K. technology business, said that Ian Davies will join the board as finance director and company secretary in August.

Davies joins from London-listed carpet firm Victoria PLC (VCP.LN) where he was finance director.

Shares +1.0 pence, or 4.3%, at 33.6 pence.

PARAGON DIAMONDS LTD. (PRG.LN), an African-focused miner, said it has bought the last remaining 1.5% stake in International Diamond Consultants from Obtala Resources PLC (OBT.LN) for GBP330,000 in shares.

IDC holds interests in the Paragon's Lemphane and Motete mining exploration projects in Lesotho, the KapLamp lamproite project in Zambia and the Kabale license, a diamond kimberlite exploration project, also in Zambia.

Shares +1.0 pence, or 1.7%, at 29.6 pence.

HERENCIA RESOURCES PLC (HER.LN), the Chile-focused miner, said that Managing Director Mike Bohm is stepping down for personal reasons and is expected to leave the company June 30.

Graeme Sloan, a mining veteran with 30 years in Australia and North America, will replace Bohm, starting the new job in May.

Shares +1.4% at 1.9 pence.

SNOOZEBOX HOLDINGS PLC, a U.K. provider of portable and temporary accommodation, said it has raised GBP12 million in new money and expects to be admitted to trading on AIM, the London Stock Exchange's junior market, on May 1.

The company, whose products are aimed at outdoor events and temporary staff accommodation, said it has conditionally placed 30 million ordinary shares with institutional investors at a placing price of 40 pence to raise GBP12 million for the company.

FTSE Small-Cap +0.4%

AIM -0.3%

-By Jana Weigand and Iain Packham, Dow Jones Newswires; +44 (0) 20 7842 9296; uksmallcaps@dowjones.com

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