Pinnacle Technology Group, a provider of cloud based technology solutions, has entered into an exclusivity agreement with EE Soft, a security software company based in North Carolina in the US, under which EES has granted Pinnacle exclusivity to market and distribute its anti-theft computer security software in the UK. Pinnacle will also have the rights to distribute the product in 37 other countries.
Armour, a consumer electronics group, has said Hawk Investment has agreed to lend the group £2.0m, replacing the existing loans of £2.0m, also from Hawk and expired on Monday. The terms of the loan are the same, except that Hawk has the right to convert the new loan into ordinary shares if Armour issues equity in a future fundraise.
Sweett Group, an international property and infrastructure consultancy, is set to incur an additional £0.65m finance cost, meaning profit before tax for the year ended March 31st 2012 will be below market expectations. The charge is the result of the group replacing an expiring foreign exchange contract that had been covering Australian dollar exposures. The firm was keen to emphasise that trading in the first quarter of the 2012/13 financial year has been stronger than in the first quarter of the last financial year and is in line with the board's expectations. Net debt at the end of the quarter was around £9.0m and the current order book of £87.0m remains robust, with the group continuing to benefit from its diversified global offering.
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Ceramic Fuel Cells, which develops small generators that use fuel cell technology to convert natural gas into electricity and heat, has said it welcomes the UK government's announcement of an increase in the feed in tariff for micro combined heat and power (m-CHP) products, including Ceramic Fuel Cells' BlueGen product. The firm said: "The increase demonstrates that the government recognises the environmental and financial benefits m-CHP can provide. It previously stated that it welcomes the m-CHP industry's desire to see one million m-CHP units installed by 2020. Working with all our manufacturing and retail partners in the UK we look forward to leading the industry towards reaching this target and to playing an important role in the country's energy needs and meeting its environmental targets."
DDD, which designs 3D conversion software, has renewed its licence agreement with LG Electronics to bundle DDD's TriDef 3D software with LG's line of 3D PC products. The two-year extension allows LG to continue to ship DDD's market-leading TriDef 3D software that enables 3D gaming and videos on LG's range of 3D notebooks, PCs and monitors.
Eckoh, a provider of speech recognition and associated payment solutions, has been awarded a three year contract to provide card payment services to the Chartered Institute of Management Accountants. The contract begins in October of this year and will help CIMA reduce the audit scope within their contact centre for compliance with the Payments Card Industry Data Security Standards.
Tristel, a manufacturer of infection prevention, contamination control and specialist hygiene products, has said revenues for the year ended June 30th were ahead of previous indications following a strong performance in late June in all of its segments, both in the UK and overseas. The results for the year will now show adjusted pre-tax profits above £0.7m and cash balances of £0.6m.
MAM Funds reported closing assets under management (AuM) for the period ended June 30th as $1.7m, an increase of £58m (3.5%) on the 2011 year end position and cash balances were £10.1m (June 30th 2011: £9.3m). "I am particularly pleased that since the half year end, investors have increased their support of the Diverse Income Investment Trust ... and we have increasing confidence in the quality of our platform and our ability to grow the group," Ian Dighe, Executive Chairman of the fund management firm, said.
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