Newmark Security Share News (NWT)

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 CONNAUGHT PLC (CNT.LN), a support services firm, warned it will breach its banking covenants when its fiscal year ends Aug. 31 and its year-end net debt will be "significantly in excess" of the original GBP120 million level it forecast less than a month ago. The company, which offers services such as compliance, social housing and environmental support services, said it is now in "constructive" talks with its lenders to get the extra funding it needs. Connaught, whose chief executive and finance director resigned from their roles in early July, a week after a profit warning, said there is an urgent need for additional funds to meet the needs of the business, which it said was partly due to pressure from suppliers and sub-contractors. At 0805 GMT, shares -78.87 pence, or 77%, at 23.23 pence. UK COAL PLC (UKC.LN), a coal miner, said non-executive Chairman David Jones and Chief Executive John Lloyd intend to step down, after it decided to do away with their positions and appoint an executive chairman in a management restructuring. UK Coal said it will now be led by two managing directors who will run its mining and property businesses and who will report to a full-time executive chairman. Both Jones and Lloyd will step down following a transition period, the company said. A search for an executive chairman has begun. At 0804 GMT, shares +2.5 pence, or 6.9%, at 38.5 pence. DIALIGHT PLC (DIA.LN), a maker of LED lights, reported an almost 10-fold increase in first-half pretax profit following bumper sales of products like obstruction lights for mobile phone masts. The company, which makes LED lights for used in factories, signs and traffic lights, said it is confident about its prospects for 2010. At 0804 GMT, shares +9.5 pence, or 2.8%, at 345 pence. RM PLC (RM.LN), a provider of educational products and services, said it has begun consulting staff at its strategic projects bid team following the U.K. government's decision to cut spending in schools, and that fiscal 2010 restructuring costs will depend on the outcome of this process. At 0804 GMT, shares flat at 145.75 pence. PLANT HEALTH CARE PLC (PHC.LN), a crop technology company, said it signed a development and marketing deal for its yield-enhancing harpin product with agrochemicals giant Syngenta AG (SYNN.VX). At 0803 GMT, shares +17 pence, or 14%, at 142 pence. OXFORD BIOMEDICA PLC (OXB.LN), a biotechnology company, said it received approval to begin a clinical trial of its cancer vaccine TroVax in men with prostate cancer. Oxford BioMedica said the U.S. Food and Drug Administration approved plans to begin a Phase II trial of TroVax in 80 patients with prostate cancer who don't respond to hormone treatment. At 0803 GMT, shares +0.87 pence, or 8.8%, at 10.75 pence. NEWMARK SECURITY PLC (NWT.LN), a security systems company, posted a 23% rise in fiscal 2010 pretax profit, but said it expects lower revenue on year in the first half of this year due to orders being postponed before the U.K. general election and the emergency budget. At 0803 GMT, shares -0.07 pence, or 3.6%, at 2.03 pence. TEG GROUP PLC (TEG.LN), a developer of composting systems, said it has formed a joint venture to construct its first anaerobic digestion plant to produce biogas for an estimated GBP4.5 million. TEG said it formed a 50:50 joint venture called TEG Biogas (Perth) Ltd. with London-based venture capital investor Albion Ventures LLP to construct and operate a anaerobic digestion plant to process 16,000 tons of food waste a year in Glenfarg, Perthshire in Scotland. At 0802 GMT, shares +1.5 pence, or 4.2%, at 37 pence. ECKOH PLC (ECK.LN), a provider of speech recognition services, said it has renewed a contract to provide its speech-enabled locator service to customers of car hire firm Enterprise Rent-A-Car. At 0802 GMT, shares flat at 5 pence. DJ UK Smaller Cos +0.5% AIM +0.4% By Jason Douglas, Hannah Benjamin and Rachael Gormley, Dow Jones Newswires; +44 (0) 20 7842 9272; uksmallcaps@dowjones.com (END) Dow Jones Newswires July 26, 2010 04:30 ET (08:30 GMT)