Small Cap Feast

Small Cap Feast – 02 September 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 878

Total number of AIM Companies trading: 797*
* As at 02 September 2019

Set Menu NEX Growth:

Total number of NEX Growth Market Companies (Incl Susp): 87*

Total number of NEX Growth Market Companies trading: 85*
* As at 02 September 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 166*

Total number of Standard List Companies trading: 144*
* As at 02 September 2019

Dish of the Day:

No Joiners Today

Off the Menu:

No Leavers Today

Dish of the Day:

No Joiners Today

Off the Menu:

No Leavers Today

What’s Cooking in the IPO Kitchen?

AIM

SEC S.p.A. Admission is following a reverse takeover under Rule 14 by SEC S.p.A of Porta Communications plc, another AIM quoted company. No funds being raised. Due 4 September. Mkt cap c £9.9m. The merger will create a business with global fee income of around €80m and a host of PR agencies, including Newgate, Publicasity and Newington.

NEX

Bracken Trading — The Group undertakes its main trade of lending as well as electricity generation through the operation of two solar farms. Admission on the 09/09/2019

Breakfast Buffet

Seeing Machines Ltd (SEE) 4.15p £135m

Seeing Machines Limited, the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has been selected by a new Tier 1 supplier to deliver its FOVIO driver monitoring platform into a new generation architecture addressing additional car models for an existing European OEM customer.

Production for the additional car models is scheduled from 2022, with incremental revenue expected to exceed A$23m.

Seeing Machines’ FOVIO driver monitoring platform uses advanced machine vision technology to precisely measure and analyse head pose, eyelid movements and eye-gaze under a full spectrum of demanding lighting conditions, including through sunglasses. This data is processed to interpret driver attention state, focus, drowsiness and impairment levels to provide ADAS (advanced driver assistance systems) with critical inputs in real time.

Sirius Real Estate (SRE) 69.7p £1,421m

Sirius Real Estate, the leading operator of branded business parks providing conventional space and flexible workspace in Germany, announces that it has completed the acquisition of an office building adjacent to its Bochum Business Park, in Bochum, a city in the Ruhr region of Germany. The property was bought for a total consideration of 6.7 million including acquisition costs reflecting an EPRA net initial yield of 5.5%. The acquisition, notarised in July 2019, was settled in cash and funded using proceeds from recent asset recycling activity. The vendor was Häusser-Bau GmbH.

The property, constructed in 1970, provides 4,200 sqm of lettable space (81% office space, 15% storage and 4% service space) and 71 parking spaces on a total plot size of circa 3,300 sqm.  It is 100% let, producing an annual total income of circa €428,000 and annual net operating income of €370,000, reflecting a weighted average rent of €8.00 per/sqm with a remaining WALT of 2.2 years. The principal tenant is ThyssenKrupp Bilstein, a subsidiary of the giant ThyssenKrupp conglomerate which designs and manufactures shock absorbers.

21st Century Tech (C21) 3.1p £2.66m

21st Century Technology plc, the specialist provider of integrated IoT systems and software to the passenger transport markets, announced the award of contract for East Sussex County Council (“ESCC”) in a new framework agreement (the “Agreement”). The Agreement, for the supply, installation and support of real-time passenger information technology and content management software, is initially valued at approximately £0.5m, and work is due to commence in September 2019.

ESCC is working in partnership with Brighton & Hove City Council, West Sussex County Council and Surrey County Council to introduce a Content Management System (“CMS”). Together, they have chosen 21st Century’s new Electronic Passenger Information (“EPI”)’ software platform, to provide the foundations for their upgrade programme, which will also see 21st Century extend and refresh the passenger information display capabilities throughout the wider region.

Europa Metals Ltd (EUZ) 0.04p £5.81m

Europa Metals, the European focused lead, zinc and silver developer, announces that, further to the Company’s announcement of 15 August 2019, the ‘daughter hole’ (TOD-023D) has been successfully completed at its 100% owned Toral-lead-zinc-silver project located in the Province of León, northern Spain.

Highlights:

Drill hole TOD-023D has now been successfully completed.

The entire core sampled from the ‘daughter hole’ (TOD-023D) has been sent for independent metallurgical testwork and, accordingly, will not be assayed for updated JORC (2012) resource reporting purposes.

The metallurgical test results in due course are expected to advance the conceptual mine design at Toral and potentially provide a first determination of the concentrate products obtainable for potential future sale to smelter operations.

The parent hole (TOD-023) has been sampled and the samples sent for independent analysis to potentially inform a JORC (2012) resource update for the Toral Project.

Ashley House PLC (ASH) 4.75p £2.79m

Further to the Trading Update of 1st August, the Company advises that the Morgan Ashley scheme at Romsey has reached financial close. This is a 54 apartment extra care facility with a gross development value of £13.5m for the Registered Provider, Places for People Living + and Hampshire County Council. The scheme is one of the three schemes mentioned in previous updates that had been delayed. The Morgan Ashley team continues to work hard on the other two delayed schemes as well as other schemes which it looks to close over the coming months.

As previously advised, the delays have had an impact on the cash inflows to Ashley House and the Company is continuing to explore a number of sources of funding whilst managing its cash carefully. The Company will continue to update the market as appropriate.

Tekcapital plc (TEK) 8.07p £5m

Tekcapital Plc, the UK intellectual property (IP) investment group focused on creating marketplace value from investing in university technology, announced that there are now eleven companies testing MicroSalt®, a low sodium salt developed by the Group’s portfolio company Salarius for possible incorporation into their snack products.  Additionally, Salarius has received a registered trademark on SaltMe!® for its forthcoming full-flavour, low sodium snacks which it intends to launch in H1 2020.

To further accelerate commercial uptake and interest, Salarius will be attending two major food shows during the next 60 days; one of the biggest ingredients shows in the US: Supple Side West in Las Vegas and Natural Products Expo Eastin Baltimore.

C4X Discovery (C4XD) 39p £22.25m

C4X Discovery Holdings plc, a pioneering drug discovery company, today announces that Robin Carr, a renowned industry veteran who has worked at GSK and Astex, is to head up and form a C4XD Drug Discovery Advisory Network. 

The Advisory Network will bring together small molecule drug discovery and development experts from across the globe. It has been formed to harness industry expertise to build on C4XD’s drug discovery capabilities and attract valuable relationships that have the potential to advance its goal of becoming the world’s most productive drug discovery company. Robin and his team will act as ambassadors for C4XD within the Biotech and Pharmaceutical community, building awareness of C4XD’s technologies, capabilities and business.

Hurricane Energy PLC (HUR) 43p £870m

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, provides an operational update in relation to the Lancaster Early Production System (“Lancaster EPS”) and the 205/26b-14 well (“Lincoln Crestal”).

Highlights

Lancaster EPS system availability and production since First Oil above guidance

Average production rate of c. 14,400 barrels of oil per day (“bopd”) from First Oil to latest lifting on 17 August

1.2 million barrels of crude oil sold to date

Lincoln Crestal well now being prepared for drill stem testing

AB Dynamics PLC (ABDP) 2,785p £611m

AB Dynamics, the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive sector, announced that it has completed the acquisition of California based Dynamic Research Incorporated (“DRI”) for a maximum consideration of up to $24.7 million.

Faron Pharma. Oy (FARN) 106p £41.32m

Faron Pharmaceuticals Oy, the clinical stage biopharmaceutical company, today announces that an abstract highlighting recent data from the Phase I/II MATINS study with Clevegen, its wholly-owned novel precision cancer immunotherapy, has been selected for a poster discussion presentation at the European Society of Medical Oncology (ESMO) 2019 Congress, taking place in Barcelona between 27 September and 1 October, 2019.

Head Chef:

Derren Nathan
0203 764 2344
derren.nathan@hybridan.com

*A corporate client of Hybridan LLP

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