UK Small Caps

LONDON (ShareCast) - Software (Frankfurt: A0XFVC - news) supplier Formjet (LSE: FMJ.L - news) has sold its Panda Software (UK) business for up to £1.4m in cash and replaced chief executive Tony Lee with former founder and joint CEO of Oriel Securities, Andrew Monk.

The company has also placed 80m shares with Monk at 0.25p each, representing 24.23% of the business, raising a total of £200,000. Lee becomes finance director.

"It became obvious that the intention of Panda Security S.L. was to take direct ownership of the business of Panda in the UK once the existing contract had expired in 2010," siad Formjet chairman Lyndon Chapman. "It is therefore an appropriate time to realise value from the business by disposing of it now."

Shareholder approval will be sought at a general meeting on 8 July.

Miner Polo Resources (LSE: PRL.L - news) has raised about $10m to help it take advantage of additional uranium opportunities as they arise and for general working capital purposes.

The group, which has coal and uranium interests in Africa, Australia, Europe and Asia, placed 160m shares at 3.85p each.

Animation company DQ Entertainment (LSE: DQE.L - news) expects to meet market profit expectations ahead of results for the year ended 31 March 2009 due around the end of July.

It has strong order book visibility and expects its technology and global partnership capabilities to drive growth in the full year 2010.

More than £5m of goodwill impairment charges pitched marketing services firm Optmisa into the red in 2008. The company reported a pre-tax loss of £4.15m after taking a £5.2m hit, largely as a result of write-down in the value of goodwill associated with the acquisition of EQ Group (LSE: EQI.L - news) . :In 2007, the company made a pre-tax profit of £1.26m.

Revenue in 2008 rose to £17.7m from £11.4m. Net debt reduced to £2.55m at the end of 2008 from £3,72m at the end of 2007.