Small caps round-up: Surgical Innovations, Verdes, Ceramic Fuel Cells

Surgical Innovations Group, a designer and manufacturer of creative solutions for minimally invasive surgery, has shipped the first batch of its PretzelFlex device, and expected to ship a second batch in December. The shipment was part of an eight-year agreement with Care Fusion which gave them exclusive rights to sell Pretzel Flex in the US.

By MoneyWeek

published 29 October 2012

in Features

Verdes Management, a which offers independent advice and solutions to UK companies, has conditionally raised £0.55m before expenses through the conditional subscription for 550m new ordinary shares at 0.1p each. The firm also announced that the role of interim Chairman will be filled by the Executive Director, Adam Webb. The company warned that the on-going difficult trading conditions have continued to negatively affect business. As a result, the company has decided to downscale its cost base and to reduce its headcount accordingly. The proceeds of the placing with be used to "explore complementary business opportunities in the financial services sector with a view to generating returns for shareholders".

Ceramic Fuel Cells, a developer of generators which use fuel cell technology to convert natural gas into electricity and heat, has said its welcomes the launch of a subsidy scheme for micro combined heat and power products (mCHP). Under the scheme, the North-Rhine Westphalia government will pay a capital subsidy to commercial customers and energy service companies, like Ceramic Fuel Cells' BlueGen and integrated mCHP products. The company believes its products are likely to be eligible for an initial subsidy of around 10,000 euros per unit.