Small caps roundup: Ceramic Fuel Cells, YouGov, Bayfield Energy Holdings

Ceramic Fuel Cells, a developer of generators which use fuel cell technology to convert natural gas into electricity and heat, said it had appointed a Commercial Director to its European management team as it seeks to increase sales in Germany. Andreas Ballhausen joins from German energy utility firm EWE. At the same time the firm said it was reducing sales resources in Australia, Japan and North America.

Pollsters YouGov fell on Monday after it said current trading was in line with the board's expectations, but the macro-economic environment, especially in Europe, remained uncertain. Total revenue in the year to the end of July was up 4% to £58.1m, with pre-tax profits rising 7% to £440,000 compared to the year before. Shares were down 3% at 1545.

Bayfield Energy Holdings announced it plans to merge with fellow Trinidad-based explorer Trinity Exploration & Production, with the new firm taking Trinity's name. Under the terms of the merger, which will be effected by the acquisition of Trinity by Bayfield, Trinity shareholders will own 55% of new Trinity and Bayfield shareholders will own 45%. The enlarged group, which will be the biggest explorer in Trinidad, intends to raise additional debt and/or equity capital in conjunction with the merger, it said.

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