Small Cap Feast

Small Cap Feast – 03 June 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 896

Total number of AIM Companies trading: 820*
* As at 24 May 2019

Set Menu NEX Growth:

Total number of NEX Growth Market Companies (Incl Susp): 89*

Total number of NEX Growth Market Companies trading: 87*
* As at 24 May 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 161*

Total number of Standard List Companies trading: 140*
* As at 24 May 2019

Dish of the Day:

No Joiners Today

Off the Menu:

No Leavers Today

Dish of the Day:

No Joiners Today

Off the Menu:

V22 Plc has left the NEX Exchange today.

What’s Cooking in the IPO Kitchen?

Main Market (Premium)

Trainline—Seeking £75m raise. Proceeds to target a net debt at IPO of c.2x LTM Adjusted EBITDA) . In FY 2019, Trainline achieved net ticket sales of £3.2bn, and revenue of £210m.  Due June

Airtel Africa Limited — provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa, looking to join the premium segment of the main market. Offer TBC, expected TBC

Main Market (Standard)

IMC Exploration Group (NEX: IMCP), focused on acquiring and exploring prospecting licence areas which have high potential for natural resource, is looking to admit its shares to the standard list and will withdraw for the NEX Exchange. Expected 11 June 2019

AIM

Renold plc—a leading international supplier of industrial chains and related power transmission products, announced that it will cancel the listing of the Company from the premium segment and apply for admission on AIM. Expected 06 June 2019.

Alumasc Group plc, the premium building products, systems and solutions group, has announced its intention to move from the Premium Segment of the main market to AIM. Expected market cap of £33.4m. Expected 25 June 2019

Breakfast Buffet

*Sareum (SAR.L) 0.68p £17.11m

Sareum announced that positive preliminary efficacy data from Phase 1/2 clinical trials with SRA737 in advanced cancer were presented at ASCO 2019 – potential path to registration outlined

30% response rate for SRA737 + low dose gemcitabine (LDG) in anogenital cancer

Anti-cancer activity demonstrated across multiple indications and genetic profiles

Sierra Oncology to discuss clinical findings and next steps for SRA737 at Analyst & Investor Event and live webcast today at 12:00 BST

“We are extremely encouraged by the preliminary clinical data that Sierra announced from its clinical programme with SRA737 at ASCO over the weekend. The results demonstrate the exciting potential of SRA737 in patients whose cancer type and genetic profile may confer and enhance sensitivity to this novel drug candidate, and open pathways for its advancement into the next stages of development towards registration. We look forward to providing updates on this exciting prospect as further progress is made and important development milestones are reached.”  Sierra Oncology webcast today at noon.

Panther Metals (NEX:PALM) 0.7p £4.1m

Panther has put in an application for licence EL32140, named Annaburroo Gold Project by the Company, in the Northern Territory, Australia. The licence covers an area of 150km2 and is located approximately 105km southeast of Darwin.

 Darren Hazelwood, Chief Executive Officer, commented:

 “I’m delighted we have been able to extend our reach into Australia, and particularly the Northern Territory, so quickly following the announcement of our maiden application on 20  May 2019.

ELA covers an area of c. 150km2 and contains several highly prospective     structural targets and gold geochemical anomalies, many of which require     follow-up.

Newmont Australia identified the Donkey Hill prospect on the southern end     of the Annaburroo Dome, which yielded 61.2 g/t Au and 50.8 g/t Au from grab     samples and 5m @ 6.68 g/t Au in trenching.

Limited previous drilling at Donkey Hill provided near surface intercepts     including 2m @ 3.10 g/t Au.

Tatton Asset Management (TAM.L) 214p £111.26m

The investment management and IFA support services group, today announces its preliminary results for the year ended 31 March 2019.

Financial Highlights

Discretionary assets under management (“AUM”) increased 24.5% to £6.1bn (2018: £4.9bn)

AUM net inflows increased to £1.1bn averaging over £90m per month

Group revenue increased 12.9% to £17.5m (2018: £15.5m)

Adjusted operating profit1 up 12.3% to £7.3m (2018: £6.5m)

Adjusted operating profit1 margin 41.7% (2018: 42.1%)

Reported profit before tax increased to £6.1m (2018: £3.6m), after charging exceptional items of £0.5m and share option costs of £0.9m

Proposed final dividend of 5.6p, giving a full year dividend of 8.4p

Adjusted fully diluted EPS2 increased 9.9% to 10.0p (2018: 9.1p)

Strong financial position, with net cash of £12.2m (2018: £10.6m)

Sirius Real Estate (SRE.L) 64.20p £1,327.19m

“The leading operator of branded business parks providing conventional space and flexible workspace in Germany, has completed the acquisition of a business park in Teningen, north of Freiburg, for 6.5 million, including acquisition costs, reflecting an EPRA net initial yield of 8.3%. The vendor is the Ascom Group, a Swiss healthcare solution provider. Notarised on 22 March 2019, the acquisition has been funded from existing cash resources.

The business park is well located in the economically strong metropolitan region of Freiburg, which is located in the Federal State of Baden Württemberg in the South West of Germany and in the vicinity of Strasbourg (France) and Basel (Switzerland), with easy access to the A5 Hamburg – Basel motorway and the national rail network.

The property provides lettable area of 20,000 sqm (40% warehouse/production space; 38% offices; 19% laboratory; and, 3% of other space) on a 43,000 sqm site. It is currently leased to seven tenants, with occupancy at 88% and producing annual net operating income of €542,000. The weighted average lease expiry is 1.6 years.”

4d Pharma (DDDD.L) 97.5p £63.86m

 The “pharmaceutical company leading the development of Live Biotherapeutics, today announces the presentation of a poster detailing its Phase I/II clinical study of MRx0518 combined with KEYTRUDA® in patients with solid tumours who have failed prior anti-PD-1 therapy at the 55th Annual Meeting of the American Society of Clinical Oncology (ASCO) in Chicago, USA.  ASCO is the world’s largest conference in the field of clinical oncology and attracts approximately 39,000 oncology professionals from around the world to discuss state-of-the-art treatment modalities, new therapies, and ongoing controversies in the field.

The poster describes the proposed mechanism of action of MRx0518 and preclinical data in addition to details about the Phase I/II study which is currently enrolling patients .”

TP Group (TPG.L) 7.03p £53.76m

The “specialist services and engineering group, has entered into a nine year exclusive licensing agreement with Batelle Inc, to be a technology partner for their innovative nanotechnology material, SAMMS (the “Agreement”). The Agreement enables TP Group to develop and deploy carbon dioxide (CO2) removal equipment for transportation and life support systems in ground, marine, air and space vehicles.

Batelle Inc. is a global research and development organisation, headquartered in Columbus, Ohio in the United States. Their facility at Pacific Northwest National Laboratory has produced a new nanostructured sorbent material. SAMMS was originally developed under funding from the US Department of Energy to bind mercury from contaminated groundwater. It has many other applications including the treatment of carbon dioxide.”

Argo Blockchain (ARB.L) 6.35p £15.42m

 The UK-based provider of enterprise-scale cryptomining services, has experienced significantly better than expected trading conditions and results following its circular released on 18 April and the operational update released on 8 May 2019.

The Company’s results for May were materially ahead of internal budgets, prompting the directors to review and significantly raise their expectations for the second quarter of this year.

The Company now anticipates generating the equivalent of 420 BTC of crypto assets on Argo’s balance sheet by the end of Q2, which at $8,575 USD per BTC (being the BTC price as at 31 May 2019), amounts to approximately £2.85 million. This is approximately £1 million or 57% higher than the previously announced estimate of £1.81m,

Beowulf Mining (BEM.L) 6.62p £38.26m

The “Nordic focused mineral exploration and development company, is pleased to announce that recent drilling at Aitolampi has extended the higher-grade Western Zone.    

Oy Fennoscandian Resources AB (“Fennoscandian”), the Company’s graphite business, is pursuing a strategy to develop a ‘resource footprint’ of natural flake graphite prospects that can provide ‘security of supply’ and help to enable Finland to achieve its ambition of self-sufficiency in battery manufacturing.  Fennoscandian is also seeking to move downstream and develop its know-how in processing and manufacturing of value-added graphite products.”

Drill hole AITDD19019 intersected 102.04m at 5.07 per cent TGC, which included 46.68m at 6.09 per cent TGC.

Angus Energy (ANGS.L) 3.15p £19.26m

 Brockham Operations Update : after consideration of the recent results of the Brockham work programme, preparatory operations for the second stage will commence on the week of 17th June 2019.

The further preparatory work aims to ensure the borehole is in optimum condition for testing, and to give the best possible communication between the well and the fracture system in the formation. Once this has been completed then, subject to agreement of partners, well testing can commence to ascertain whether commercial hydrocarbon flows can be achieved from the BRX4Z well as envisaged per our timetable of 3 April.

Europa Oil & Gas (EOG.L) 2.75p £12.90m

 “The UK and Ireland focused oil and gas exploration, development and production company, is pleased to announce that it has completed the sale of its 20% interest in the UK onshore PEDL143 exploration licence to AIM listed UK Oil & Gas PLC (‘UKOG’) for a consideration of £300,000, satisfied through the issue of 25,951,557 shares (‘Consideration Shares’) in UKOG, and as outlined in the announcement dated 16 April 2019.  The Consideration Shares issued to Europa are subject to a six-month orderly market provision. “

Head Chef:

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

*A corporate client of Hybridan LLP

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