UK Small Caps

LONDON (ShareCast) - Outdoor clothing retailer Blacks Leisure has finalised the terms of a restructuring plan with the support of Lloyds Banking Group (LSE: LLOY.L - news) .

It is proposing company voluntary arrangements for Blacks and its wholly owned subsidiary, The Outdoor Group.

The group, which last week reported a surge in first half pre-tax losses to £18.1m from £6.7m a year earlier, said the plan will protect it from claims by about 101 landlords of stores which are either closed or in the process of closing, and compromise the claims of around nine landlords.

"The restructuring plan announced and the new banking facility supporting it provide a realistic opportunity to ensure the survival of the core outdoor business which has the potential to become a strong successful retailer," said chief executive Neil Gillis.

Blacks said the landlords whose claims are being compromised will be able to make a claim against a total aggregate fund of £7.25m.

Lloyds unit, Bank of Scotland, has agreed to extend existing standstill agreement announced in September to the 23 December, and agreed new bank facilities for initial committed facilities of £42.5m.

Business and trading software specialist Microgen (LSE: MCGN.L - news) said profits in the third quarter were ahead of plan.

The company, which also announced it is selling its non-core Billing Services (LSE: BILL.L - news) division to Swiss Post for £7.5m (gross), said its Aptitude Solutions division had a good quarter while recurring revenues in the Financial Systems arm are helping the division weather tricky market conditions.

The Aptitude Solutions division is now expected to make an operating profit over the full year, which marks a turnaround from the half-year stage when the division had an operating loss of £0.6m; the division made an operating loss of £2.4m in 2008.

'Furthermore, with the currently contracted/scheduled business and the prospect opportunities, the board anticipates a strong performance in 2010, which should materially compensate for the reduction in profit contribution associated with the disposal of BSD [the Billing Services Division],' the company said.

With the money from the BSD disposal strengthening the balance sheet, the board said it will be in position to consider appropriate acquisition opportunities.

Online video services provider Amino Technologies (LSE: AMO.L - news) warns 2009 results will be "significantly" below expectations as order slippage and component shortages cause a "material" loss in the second half.

In an update for the year ending 30 November (Frankfurt: A0Z24E - news) , it said orders expected to close in the period have not and should now close in the full-year 2010.

Amino also said fulfilling booked orders has proved "challenging" due to component shortages at its suppliers. It's unlikely to complete those orders and recognise the revenue this financial year.

But the firm remains more confident about 2010, with a substantially reduced cost base and the transition from MPEG-2 to MPEG-4 now complete.

"We exit the year in better shape than at the half year as a leaner and more focused company that is better positioned to capitalise on the transition to IP-connected devices in the home," said non-executive chairman Keith Todd.

"We are confident as a board that we have in place a solid platform for growth in 2010 and beyond."

Speciality pharmaceutical company Neuropharm Group is engaged in talks which may lead to an offer being made for the company.

The loss-making company, which currently has no revenue, is seeking a sale or merger of the company so that the value of its drugs pipeline can be maximised.

The company had a disappointing trial result back in February for its NPL-2008 product which saw its shares plunge from just above 100p to less than 6p, though its share price picked up in the second half of the year when the company indicated it was working with a partner interested in reviving the NPL-2008 project.

At the end of September the company had cash, cash equivalents and money market investments of £7.0m at the end of June, after announcing a full-year loss of £6.5m.

Nipson Digital lost half of its value after the group said it may go into administration if it can't agree the repayment of a €2m loan.

The group said it continues to seek a solution for which it has set a short timescale.

D. Roseman, Polar Communications and Creacorp have not taken formal steps to enforce repayment, Nipson added.

'If agreement cannot be reached then as referred to in the announcement of 15 October 2009, the company will need to consider a Company Voluntary Arrangement; but will also consider other options including administration,' said the group in a short statement.