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British workers were underpaid to the tune of over £3 million by employers paying below the minimum wage last year, with some outrageous excuses (including ‘they are a total waste of space – they do not deserve it,’) being offered, according to HM Revenue & Customs.

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Biocare Solutions, the developer and manufacturer of environmentally friendly household cleaning products, is seeking to raise £6.25 million ahead of an expected AIM float later this month. KBC Peel Hunt will act as broker and adviser.

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One in three employers refuse to train their staff, according to a report from the Trades Union Congress (TUC), which claims this is creating a skills crisis in Britain and leaves over eight million untrained. The TUC report, 2020 Vision for Skills, reveals 8,377,200 workers have not been trained.

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TriVest – the venture capital trust co-managed by private equity firms Matrix, Foresight and Nova – has completed a profitable exit from Secure Mail Services, the Northampton-based provider of specialist mail and package delivery services. On Matrix’s advice, TriVest backed the business in 2002 and has seen the value of its stake rise from an initial £1.3 million to £4.2 million in that time.

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Keronite, the developer of new metal-coating process that hardens the surface of aluminium and magnesium alloys, has concluded a £10 million funding round backed by hi-tech VCT firm Quester (£1.3 million) and private investor network Hotbed (£2.7 million) among others.

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Rubicon Software, which develops customer relationship management applications for the financial services sector, is eyeing an AIM launch for 6 September – having raised £770,000 (£430,000 net of expenses) from investors with the aid of broker and adviser WH Ireland.