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 VP PLC (VP.LN), a U.K. equipment rental company, hopes to cut its net debt by a further GBP10 million in fiscal 2011, Group Finance Director Mike Holt said Tuesday. VP, which works in sectors such as construction, oil and gas, outdoor events and rail, cut net debt by GBP17.5 million to GBP48.3 million in the year ended March 31. At 1034 GMT, shares -6.5 pence, or 3.4%, at 187 pence. SYNCHRONICA PLC (SYNC.LN), a mobile phone software provider, said it is in late-stage talks on 10 contracts, and said its pipeline is sufficient to ensure it tops results from 2009. "We've got a good number of deals in the pipeline or contracts in delivery that can generate substantial revenue for the company," Chief Executive Carsten Brinkschulte told Dow Jones Newswires. At 1034 GMT, shares -0.12 pence, or 6.7%, at 1.75 pence. CHLORIDE GROUP PLC (CHLD.LN), a manufacturer of secure power systems, Tuesday recommended an GBP860 million takeover offer from Swiss engineering giant ABB Ltd. (ABB). ABB's 325 pence-a-share bid would trump an earlier offer from St. Louis-based Emerson Electric Co. (EMR), which has pursued Chloride at least twice. The Zurich-based company didn't rule out going higher to clinch at least 75% of Chloride, but said it felt it had "put a good offer on the table" with its 325 pence-a-share bid, Chief Executive Joe Hogan said. At 1034 GMT, shares +52.7 pence, or 18%, at 341 pence. SHARE PLC (SHRE.LN) said it plans to return up to GBP5.7 million to shareholders through a buyback tender offer. Chairman Martin Jacomb said the retail stockbroker and trading platform operator has a "significant cash balance" and the board views the tender offer and repurchase as a way to get a more appropriate capital structure and to enhance the return on equity. At 1034 GMT, shares flat at 26.5 pence. BROOKS MACDONALD GROUP PLC (BRK.LN), an asset manager, said it has agreed terms for a takeover of smaller peer BRAEMAR GROUP PLC (BRG.LN), valuing the London-based firm at GBP4 million. Chief Executive Chris Macdonald said the takeover fits in with its wider strategy of increasing its niche funds offering. Braemar has three open-ended investment companies investing in agricultural land, student accommodation and ground rents. At 1035 GMT, Brooks Macdonald shares flat at 774 pence. Braemar shares +0.75 pence, or 55%, at 2.13 pence. MEDIWATCH PLC (MDW.LN) announced a distribution agreement with GE Healthcare, a unit of General Electric Co. (GE), to distribute its ultrasound devices to selected areas in the U.S. At 1035 GMT, shares +0.6 pence, or 11%, at 6.13 pence. SEPURA PLC (SEPU.LN), a digital radio company, said it expects to launch a new wave of radios in 2013 and forecast a 50:50 split in revenue coming from its core TETRA range and the new-style handsets. At 1036 GMT, shares -2 pence, or 3.9%, at 49.5 pence. ROCKHOPPER EXPLORATION PLC (RKH.LN), an oil and gas explorer, said it agreed to raise GBP48.5 million in a share sale to fund its exploration activities in the Falkland Islands. Rockhopper said it will use the proceeds for testing of its Sea Lion discovery and drilling an exploration well at the Ernest prospect. At 1036 GMT, shares +7 pence, or 2.4%, at 297.25 pence. UMECO PLC (UMC.LN), an aerospace and defense industry supplier, reported a 21% decline in fiscal-year pretax profit after dwindling passenger numbers hurt aircraft orders. Umeco, which supplies parts to aerospace manufacturers and makes composite materials used in aircraft, Formula One racing cars and wind turbines, said it expects modest growth in revenue this fiscal year as new aircraft from Boeing Co. (BA) and Airbus get built and markets recover. At 1036 GMT, shares +1.5 pence, or 0.4%, at 354.75 pence. WINCANTON PLC (WIN.LN), a haulier, said it entered a joint venture with business outsourcing firm Serco Group PLC (SRP.LN). The first initiative of the new venture, to be called Serton, will be to bid for contracts to escort prisoners for the U.K. Ministry of Justice, Wincanton said. At 1037 GMT, shares +1 pence, or 0.4%, at 230 pence. GOOCH & HOUSEGO PLC (GHH.LN), a maker of optical components and systems, posted a marked increase in first-half pretax profit as it enjoyed a sustained recovery of its markets and secured new business. At 1037 GMT, shares +23 pence, or 13%, at 204 pence. PETRONEFT RESOURCES PLC (P8ET.DB), a Russia-focused oil and gas company, said Tuesday it has completed drilling three of nine production wells planned this year at its Lineynoye field, and has begun drilling a fourth. The company said it has also completed construction of a 60-kilometer export pipeline. First oil production from the field is scheduled for the third quarter of the year. At 1037 GMT, London-traded shares +1.25 pence, or 4%, at 32.75 pence. WH SMITH PLC (SMWH.LN), a book and magazine retailer, said sales at its stores open more than a year fell 4% in the first 14 weeks of its second half and it remains cautious about consumer spending for the rest of the year. At 1038 GMT, shares -17.8 pence, or 4%, at 436.2 pence. D1 OILS PLC (DOO.LN), a biofuels company, said it is in talks with renewables firm Mission Newenergy Ltd. (MBT.AU) about an offer for D1 pitched at GBP16 million in shares. At 1038 GMT, shares +0.75 pence, or 12%, at 7 pence. DJ UK Smaller Cos -0.8% AIM -0.4% By Rachael Gormley, Jason Douglas & Hannah Benjamin, Dow Jones Newswires; +44 (0) 20 7842 9272; uksmallcaps@dowjones.com (END) Dow Jones Newswires June 08, 2010 07:30 ET (11:30 GMT)