Hornby Share News (HRN)

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps PLANTIC TECHNOLOGIES LTD. (PLNT.LN), a maker of biodegradable packaging for food, Thursday said it agreed terms for a takeover offer from the founder of surf wear brand Billabong pitched at 8 pence a share, valuing the company at about GBP6.4 million. The offer, from Gordon Merchant, a Plantic director, represents a 68% premium to Wednesday's closing price. Plantic's independent directors recommended shareholders accept the offer. At 1416 GMT, shares +2.63 pence, or 54%, at 7.5 pence. VPHASE PLC (VPHA.LN), a maker of energy-saving products, said it has been granted a European voltage control patent that it hopes will enable it to get its products in to homes throughout Europe. VPhase--which has also been granted patents in the U.S. and New Zealand--said once the patent is translated in all 30 countries designated in the European application, it will have been granted in 34 countries. The company said the patent recognizes the unique and effective way that its voltage optimization units can reduce electricity bills for consumers. At 1416 GMT, shares +0.25 pence, or 13%, at 2.13 pence. ANTISOMA PLC (ASM.LN), a biotechnology company, said it will return any cash it has left to shareholders if its two lead drug programs fail clinical trials. The firm posted a wider loss for the last fiscal year and said it expects to publish data from its two most advanced drug programs in the first half of 2011. AS1413 and AS1411 are both being tested as treatments for a type of blood cancer. At 1416 GMT, shares +0.49 pence, or 8.9%, at 6 pence. HORNBY PLC (HRN.LN), a U.K. toymaker, said fiscal year 2011 sales are set to be more heavily-weighted to its second half, as it has stepped up the distribution of its products to larger retailers who buy in stock in anticipation of the peak Christmas selling season. The firm, whose toys include Scalextric racing cars, Hornby model trains and Airfix, said like every year, its full-year result depends on consumer confidence and demand in the pre-Christmas period. At 1417 GMT, shares flat at 132.5 pence. UNITED DRUG PLC (UDG.DB), an Irish drug wholesaler, said cuts to drug prices by the Irish government hurt revenue during the third quarter of its fiscal year. United Drug said revenue declined but it outperformed the market and gained market share. It said it expects pretax profit for the year to Sept. 30 to be broadly in line with the previous year. Pretax profit for the year to Sept. 30, 2009, was EUR39.1 million. At 1419 GMT, shares -1 cent, or 0.4%, at EUR2.38. RANK GROUP PLC (RNK.LN), a casino operator, said it is optimistic about its second half despite lingering consumer spending pressures, after it posted a surge in first-half pretax profit due to more customers being attracted to its casinos and bingo halls. The firm said comparable revenue across all its businesses rose in the first four weeks of the new half. At 1420 GMT, shares +9.9 pence, or 9.1%, at 119.1 pence. CONNAUGHT PLC (CNT.LN), a provider of maintenance services to social housing lanlords, said it has agreed terms on a GBP15 million short-term overdraft with its lenders and will continue negotiations with its lenders aimed at restructuring its financing. Connaught, which offers services such as compliance, social housing and environmental support services, warned Monday it will breach its banking covenants and its year-end net debt will be "significantly in excess" of the GBP120 million it forecast less than a month ago, saying it urgently needed cash. At 1421 GMT, shares +4 pence, or 13%, at 35 pence. COLLINS STEWART PLC (CLST.LN), a stockbroker, is targeting a dozen fundraising deals in the second half, Chief Executive Mark Brown said, around double the amount of deals it carried out in the first half. "We do have a pipeline of deals for the second half, and it's looking better than the first half," he said. "It's now a question of whether we can execute it." At 1421 GMT, shares -2 pence, or 2.7%, at 73 pence. A.G. BARR PLC (BAG.LN), a soft drinks maker, said it expects its full-year result to top current management expectations, following a strong first half in which it expects to grow sales 13% on last year, although it expects tougher trading in its second half. At 1421 GMT, shares +14 pence, or 1.2%, at 1,200 pence. TRINITY MIRROR PLC (TNI.LN), a newspaper publisher, posted a jump in first-half pretax profit as it benefited from a non-recurring GBP28.8 million gain and cost cuts and said it is optimistic about full-year prospects based on more cost-savings and stabilizing revenue. The Daily Mirror publisher said it expects the rate of revenue decline to slow further during the second half, although it continues to expect month-on-month volatility. At 1422 GMT, shares +17.5 pence, or 23%, at 93.25 pence. ACAL PLC (ACL.LN), a distributor of components to manufacturers of electronics for aerospace, industrial and defense customers, said sales were up 20% and orders increased 29% during the first quarter of its fiscal year, as bumper sales at its electronics unit offset a weaker performance at its non-electronics business. At 1422 GMT, shares +12.5 pence, or 6.9%, at 195 pence. HUTCHISON CHINA MEDITECH LTD. (HCM.LN), a drug maker, reported a narrower net loss for the first six months of 2010, following strong sales of its heart pills in China and organic foods in Hong Kong. At 1422 GMT, shares +10 pence, or 2.9%, at 355 pence. PARAGON GROUP OF COS. PLC (PAG.LN), a buy-to-let lender, said it is still in talks with wholesale lenders with the aim of restarting lending, and that its third-quarter financial performance was strong. At 1426 GMT, shares +0.3 pence, or 0.2%, at 136.5 pence. DJ UK Smaller Cos +0.3% AIM +0.3% -By Hannah Benjamin, Rachael Gormley & Jason Douglas, Dow Jones Newswires; +44 (0) 20 7842 9298; uksmallcaps@dowjones.com (END) Dow Jones Newswires July 29, 2010 11:00 ET (15:00 GMT)