Small caps round-up: Siteserv, CPL, EKF...

Siteserv has announced conditional plans to sell its infrastructure, utilities support services and access and formwork businesses carried on in Ireland and the UK to Millington, an acquisition vehicle, for around 45.42m euros in cash.

CPL Resources has acquired European Human Resources, a company engaged in providing human resource solutions for companies within the Scandinavian market. The acquisition represents a further step in CPL's strategy of extending the group's international footprint, the firm said.

EKF Diagnostics said trading in the second half of 2011 was strong, with unaudited revenues for the year ended December 31st of about £21.6m, and the board now believes that adjusted earnings before interest, tax, depreciation and amortization (EBITDA) will be materially ahead of already revised market expectations.

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Minoan, a travel and leisure company, has signed an agreement for the purchase of the assets and business of Stewart Travel Centre for a consideration of £545,000. The firm previously announced the acquisition of a 19.9% interest in Stewart. In the four month period to the end of February, the group's bookings, including Stewart, were down 2% and sales commissions down 1% relative to the comparable period in the previous year. In the same period, sales commission is approximately 5% ahead of the previous year.

Max Petroleum, an oil and gas exploration and production company, has announced that the Kazakh government has granted regulatory approval to convert the Zhana Makat Field to full field development status, effective immediately.

FFD approval will allow Max Petroleum to develop and produce the Zhana Makat Field for up to a further 25 years, as well as grant the company a right to sell 80% of crude oil production from Zhana Makat on the export market under the terms of its Blocks A&E exploration and production contract. Current export oil sales are generating after-tax net proceeds that are around $22-$25 per barrel higher than comparable domestic sales. Zhana Makat is currently producing around 2,100 barrels of oil per day.

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