Pennant International 2013 Results to Beat Expectations

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PENNANT INTERNATIONAL GROUP PLC (PEN.LN), the supplier of logistic support solutions, Wednesday said results for 2013 are likely to exceed current market expectations, partly due to a new order valued at about 1.3 million pounds ($2.0 million).

At 1045 GMT shares +8.5 pence, or 13.3%, at 72.5 pence.

PURSUIT DYNAMICS PLC (PDX.LN) announced it has agreed to sell its patent rights for its atomiser technology to Tyco Fire & Security Gmbhfor $100,000. the company is also exploring opportunities for its remaining operating businesses with a view to eliminating its liabilities.

Shares -0.4 pence, or 15.4%, at 2.0 pence.

COAL OF AFRICA LTD. (CZA.AU) released a positive definitive feasibility study for its flagship Makhado coking coal project in the Limpopo Province of South Africa. Estimated annual production is 2.3 million tons of hard coking coal and 3.2 million tons of thermal coal for a capital expenditure of 3.96 billion rand ($397 million) including contingencies.

Shares in London +1.0 pence, or 9.5%, at 11.5 pence.

IMPELLAM GROUP PLC (IPEL.LN), the staffing firm, expects unadjusted earnings per share to be broadly flat in the first half compared with the prior year and said trading in the first five months of 2013 has been broadly in line with the board's expectations.

Shares -23.5 pence, or 5.7%, at 387.5 pence.

INTERNETQ PLC (INTQ.LN), a provider of mobile marketing and digital entertainment solutions for mobile network operators, has entered a strategic partnership agreement with General Mobile Technology, a mobile platform operator that provides mobile Internet services across emerging markets and an investee company of MediaTek Inc. (2454.TW).

Shares +17.75 pence, or 5.7%, at 330.0 pence.

CAZA OIL & GAS INC. (CAZ.T), a U.S.-focused oil company, has agreed to a GBP450,000 advance under its GBP6 million standby equity distribution agreement with YA Global Master SPV Ltd., an investment fund managed by Yorkville Advisors Global, LP.

Shares in London +0.1 pence, or 1.0%, at 12.1 pence.

TETHYS PETROLEUM LTD. (TPL.T), a Central Asia-focused oil company, said it has a busy and active program in Kazakhstan in the second half of the year, including exploration, testing of existing wells and workovers, which will move Tethys closer to exploiting the potential of its gas and liquids portfolio.

It expects total capital expenditure for the program at approximately $20.4 million

Shares in London -1.0 pence, or 1.8%, at 54.5 pence.

GULF KEYSTONE PETROLEUM LTD. (GKP.LN), an oil company focused on the Kurdistan Region of Iraq, has started its drilling campaign to explore deeper, yet untested horizons of the Shaikan field, which it operates.

Shares -1.5 pence, or 1.0%, at 150.5 pence.

FTSE Small-Cap -0.02%

AIM -0.07%

Write to Iain Packham and Jana Weigand at [e-mail]

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