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Securities market operator PLUS Markets Group plans to form a new market, PLUS-Europe, with the Munich Stock Exchange. PLUS says it has reached a non-binding agreement with Bayerische Börse AG to develop “new integrated pan-European market services, specifically designed to meet the needs of small and medium-sized companies”.

Headed by former AIM boss Simon Brickles, the company says the agreement includes “indicative terms for the creation of a new pan-European market segment, offering quote-driven trading services in smaller companies”.

Fundraisings

News of yet another strategic initiative from the group has come at a time when its market for growth companies – PLUS Quoted – is making good progress, both in terms of the cash it enables entrepreneurs to raise and the number of new ventures availing themselves of the facility.

In May, £18.5 million was hauled in by speculative ventures, including £5 million by Seven Arts Pictures and £10 million for China CDM Exchange Centre.

During June, new entrants to the market included DHAIS, an acquisitively minded marketing venture advised by Alfred Henry, and Pegasus Helicopter Group, a rather ambitious company which specialises in kit helicopters and which takes its advice from Atlantic Law.

Poised for growth

Those limbering up for a float in the current market include Captive Audience Display Solutions, a digital media network, and NJD Capital. The latter is a start-up venture established to acquire “minority investments” in small UK companies.

Its offer for subscription to raise up to £2 million was initially expected to close on 30 June, but has been extended to 1 August.

According to managing director Jonathan Smith, if NJD’s fundraising is successful, they will look at businesses with annual revenues of up to £20 million and, as well as aspiring to back operations with good management, it hopes to target “underperforming” companies and those “requiring capital to reverse a situation which may be heading towards insolvency”.

Hot in chile

Uranium hopeful U308 Holdings expects to have a drill target for its Peralillo East project in Chile in two months.
Headed by Conrad Windham, and with backers including small-company investor Bruce Rowan, PLUS-quoted U308 has high hopes for Peralillo East, on which its local subsidiary has an option as one of several prospects in the country.

Going nuclear

Pointing out that Chile is seeking to develop nuclear energy and will
pay world-market prices for domestically produced uranium, director Mike Parr, the company’s experienced chief geologist, says East Peralillo resembles proven sandstone-based uranium deposits in the US state of Wyoming and deposits in France’s Massif Central.

U308, which floated on PLUS in January after raising £733,000 at 10p, tapped the market again last month for another £140,500 at 5.5p and says it has enough cash for its present programme.

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