Benzinga's Microcap Movers for Wednesday January 18, 2012

Below are highlights from Benzinga's daily coverage of microcap securities making big moves:

UEPS Technologies

Shares of UEPS Technologies, (NASDAQ: UEPS), the Johannesburg, South Africa provider of payment solutions and transaction processing services, rose 32% Wednesday on 33 times the average daily volume.

UEPS announced Wednesday that its wholly owned subsidiary, Cash Paymaster Services, has received a Letter of Award from the South African Social Security Agency for the provision of payment services for social grants in all of South Africa's nine provinces for a period of five years. The tender award is subject to the usual execution of a service level agreement by January 31, 2012.

UEPS Technologies closed at $8.92 Wednesday.

Mad Catz Interactive

Shares of Mad Catz Interactive (NYSE: MCZ), the San Diego, CA manufacturer of accessories for videogame platforms and personal computers, rose 25% Wednesday on 6 times the average daily volume.

Mad Catz announced Wednesday that it has entered into a PlayStation Accessory Licensing Agreement with Sony Computer Entertainment Japan, a division of Sony Computer Entertainment.

The agreement permits Mad Catz to manufacture and distribute products designed for use with the PlayStation 3 computer entertainment system and the PlayStation Vita portable entertainment system throughout Japan.

Mad Catz Interactive closed at $0.80 Wednesday.

Rexahn Pharmaceuticals

Shares of Rexahn Pharmaceuticals (NYSE: RNN), the Rockville, MD development stage biopharmaceutical company, rose 17% Wednesday on twice the average daily volume.

Rexahn announced Wednesday that it has secured Hungarian Regulatory Authority and Ethics Committee approval for Rexahn's initial Clinical Trial Application. This allows Rexahn to initiate an exploratory first-in-human Phase I clinical trial of RX-3117.

RX-3117 is a small molecule antimetabolite for the treatment of solid tumors.

Rexahn Pharmaceuticals closed at $0.50 Wednesday.