Small caps round-up: Sareum, Lonrho, FFastFill

Sareum, a specialist cancer drug discovery business, has entered into a four million pound Standby Equity Distribution Agreement (SEDA) with YA Global Master, an investment fund to provide a flexible source of future funding to the company to support its on-going drug research activities.

It will also offer reassurance to Sareum's potential commercial partners that it has access to other funds, in addition to any anticipated licence deal income. Under the terms of the SEDA, Sareum may draw down funds over a period of up to three years in exchange for the issue of new ordinary shares in the company.

African investment firm Lonrho has released the August statistics for FastJet, a discount airline in which it has a majority stake, which showed that passenger numbers rose 27.1% from 47,270 to 60,069 year-on-year, while the load factor increased from 58.5% to 64.7%. For the 12 months ended August, numbers were up 73.8% from 357,312 to 620,997.

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Software firm FFastFill has opened its first location in Hong Kong, its third in the Asia Pacific region. FFastFill Hong Kong will serve as a local sales and support hub for customers throughout the region. "FFastFill's presence in Hong Kong will strengthen our existing offering by delivering additional support to customers, providing tools to allow them to enhance their business across Asia Pacific," the firm said in a statement.

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