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UK SMALLCAP ROUNDUP: Photo-Me Fined GBP500,000 By FSA

Mon, 21st Jun 2010 12:30

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps PHOTO-ME INTERNATIONAL PLC (PHTM.LN), a photo booth operator, was Monday fined GBP500,000 by the U.K. Financial Services Authority for failing to keep investors up to date about poor trading during 2006 and 2007, in the largest fine of its type ever issued by the markets regulator. The FSA said Photo-Me's failure to disclose material information to investors promptly led to a 44-day false market in its shares. Photo-Me said it won't challenge the FSA's decision because of the costs and time involved in pursuing an appeal but added the FSA underestimated the difficulties it faced updating the market at the time. It didn't elaborate. At 1056 GMT, shares -0.25 pence or 0.7% at 33.5 pence. PROVENTEC PLC (PROV.LN), a steam-cleaning company, said it is considering entering administration because it won't be able to pay a GBP600,000 interest payment on loans due by the end of June. At 1055 GMT, shares suspended at 27.5 pence. KEWILL PLC (KWL.LN), a logistics software company, posted an increase in fiscal 2010 pretax profit, reflecting strong sales growth in Asia and better cost control. It added it is on the hunt for more acquisitions. At 1055 GMT, shares flat at 118 pence. GW PHARMACEUTICALS PLC (GWP.LN) said it will apply to sell multiple sclerosis medicine Sativex in other European countries during the second half of 2010, following its launch in the U.K. GW said late Friday that Sativex, which is derived from cannabis, gained U.K. regulatory approval following a review of clinical data that showed it reduced symptoms of spasticity in multiple sclerosis patients. At 1055 GMT, shares -4.5 pence or 3.2% at 136.5 pence. FINDEL PLC (FDL.LN), a U.K. home shopping and educational supplies company, cut the pretax profit results for fiscal 2009 after finding accounting errors in its education division. Findel said the errors are estimated to have reduced its pretax profit for the year ended April 3, 2009 by GBP6.4 million and net assets by GBP20.6 million. At 1055 GMT, shares flat at 18 pence. MORGAN SINDALL GROUP PLC (MGNS.LN), a U.K. construction and regeneration group, said it has received a GBP95.4 million contract to design and build the Tayside Acute Adult Mental Health Developments scheme in Scotland. At 1054 GMT, shares +11.5 pence or 2.1% at 551.5 pence. CHAARAT GOLD HOLDINGS LTD. (CGH.LN), a Kyrgyzstan-focused gold miner, said it proposes buying a privately owned exploration company with four licenses in Kyrgyzstan. It wants to buy Kyrex Ltd. for 11.9 million Chaarat shares in a deal which values it at GBP4.83 million, based on Friday's closing price. At 1054 GMT, shares flat at 40.5 pence. SHED MEDIA PLC (SHDP.LN), a television show maker, said it is in takeover talks with media giant Time Warner Inc. (TWX) The U.K. company, which produces programs like drama Waterloo Road and reality shows like Supernanny, said there is no certainty an offer will be made. At 1054 GMT, shares +4.5 pence or 5.8% at 82.5 pence. DOMINO PRINTING SCIENCES PLC (DNO.LN), a printing equipment manufacturer, said fiscal first-half profit more than doubled after its customers resumed spending on new equipment. The company said it is increasing investment in new capacity and products in an effort to win more business. At 1053 GMT, shares +7.4 pence or 1.6% at 472.4 pence. XCHANGING PLC (XCH.LN), a business outsourcing company, said it has acquired a U.K.-based information technology company for up to GBP9 million as it looks to boost its network managed services offering and set up a reseller platform. At 1053 GMT, shares +2.3 pence or 1.1% at 209.3 pence. AKERS BIOSCIENCES INC. (AKR.LN), a diagnostics company, posted a much wider full-year pretax loss due to a hiatus in U.S. government departmental spending as federal funds were diverted to aiding economic recovery. At 1053 GMT, shares flat at 11.5 pence. MINERA IRL LTD. (MIRL.LN), a Peru-focused precious metals miner, said it agreed a $20 million loan with bank Macquarie Group Ltd. (MQG.AU) after scrapping a share sale. At 1052 GMT, shares -1.5 pence or 2.6% at 56.5 pence. MEDIA SQUARE PLC (MSQ.LN), a marketing communications group, said it has agreed new three-year, GBP26.6 million banking facilities with Bank of Scotland, part of Lloyds Banking Group PLC (LLOY.LN). At 1052 GMT, shares +0.25 pence or 2.5% at 10.25 pence. BRULINES GROUP PLC (BRU.LN) said it has acquired gasoline forecourt services company LBI Installations Ltd., which it said was one of the final elements in building a product portfolio capable of delivering its forecourt strategy. Brulines, which provides real-time monitoring systems and data management services for the U.K. leisure sector and gasoline forecourts, said the acquisition is for an initial payment of GBP360,000 and a performance-related deferred payment, details of which weren't given. At 1052 GMT, shares +12 pence or 0.9% at 117.5 pence. INTERIOR SERVICES GROUP PLC (ISG.LN) said it has acquired specialist Moscow-based fit-out company Olson Enterprises CJSC for a nominal amount as it looks to expand its market share in the Russian capital. At 1051 GMT, shares flat at 166 pence. DJ UK Smaller Cos +0.8% AIM +0.5% -By Rachael Gormley, Jason Douglas & Hannah Benjamin, Dow Jones Newswires; +44 (0) 20 7842 9272; uksmallcaps@dowjones.com (END) Dow Jones Newswires June 21, 2010 07:30 ET (11:30 GMT)
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