Small caps round-up: Motive Television, 1pm, Clean Air Power...

Earlier this month Motive Television exercised its right to purchase CCAN's 32.3 per cent ownership in Motive Television for 70,116 euros, equal to 10 cents per share. Since then, Motive has received an exercise notice granted to CCAN on September 17th 2010, under which Motive granted CCAN a put option to require the company to purchase the whole of CCAN's retained shareholding in Motive Television, representing the remaining 32.3 per cent of the company's issued share capital, at any time after the 18 month anniversary of completion of the acquisition by Motive of Adecq Digita. Following legal advice Motive has stated that the notice is invalid and so will continue to require that CCAN transfers its shares in Motive Television by the end of this month.

Earlier this month Motive Television exercised its right to purchase CCAN's 32.3 per cent ownership in Motive Television for 70,116 euros, equal to 10 cents per share. Since then, Motive has received an exercise notice granted to CCAN on September 17th 2010, under which Motive granted CCAN a put option to require the company to purchase the whole of CCAN's retained shareholding in Motive Television, representing the remaining 32.3 per cent of the company's issued share capital, at any time after the 18 month anniversary of completion of the acquisition by Motive of Adecq Digita. Following legal advice Motive has stated that the notice is invalid and so will continue to require that CCAN transfers its shares in Motive Television by the end of this month.

Clean Air Power, which develops combustion technology that enables heavy-duty diesel engines to operate on a combination of diesel and natural gas, has reported encouraging trading during the furst half of the financial year, with revenues significantly ahead of the prior year. During the first six months of the current financial year, revenues were £3.9m (2011:£2.1m) with over 100 systems (2011: 37 systems) being delivered during the period. The company has now had a total of 250 orders during 2012 for both the Genesis EDGE system and European OEM product. The firm said it is confident of the outlook going into the second half of the financial year, with a clear strategy for the North American market both in the short and medium term.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.