Small Cap Feast

Small Cap Feast – 04 December 2019

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What’s Cooking in the IPO Kitchen?

What’s cooking in the IPO kitchen?

AIM

The Pebble Group, a provider of products, services and technology to the global promotional products industry, announces its intention to seek admission of its shares to trading on the AIM market of the London Stock Exchange, which is expected to take place in early December 2019.The Group delivered revenue of £99.8m in the year ended 31 December 2018.No mention of bottom line and a suggestion that funds raised would provide an exit to private equity shareholders and the repayment of debt.  Offer TBA.

MJ Hudson Group PLC, the financial services support provider to Alternatives fund managers and asset owners, is planning an AIM IPO. Deal details TBC but expected admission date mid-December.

Main Mkt Standard

Taseko Mines  – North American focused copper producer and developer, seeking a London Listing. No capital raise. Due 22 Dec

Main Mkt Premium

Octopus Renewables – Seeking raise of up to £250m. Will seek to provide investors with an attractive and sustainable level of income returns, with an element of capital growth by investing in a geographically and technologically diversified spread of renewable energy assets—Due 10 Dec

 

Breakfast Buffet

Gunsynd (GUN.L) 0.012p £0.76m

Has purchased for £45,000 a 7.67% stake in Kolosori Nickel Limited which owns 80% of the nickel prospecting licence PL05/19 over Kolosori Prospect, Isabel Province (“Licence”) in the Solomon Islands.   Gunsynd has also been granted a 90 day option to purchase another 22.33% of Kolosori Nickel Limited for £135,000.

 

Cloudcall (CALL.L) 98.5p £38.14m

The cloud-based software business that integrates communications into CRM platforms, has partnered with enterprise recruitment software, TargetRecruit to improve candidate engagement. 

The new partnership brings together CloudCall Unified Communications software with TargetRecruit, a leading provider of software for staffing and recruitment firms, built on the Salesforce platform. The integration will support TargetRecruit as it continues to modernise the workforce management and recruiting cycle, through a host of features including click to call, call recording and access to real-time reporting. With almost a decade of experience in the recruitment industry serving more than 37,000 professionals and an unrivalled depth of CRM integration, CloudCall is the ideal communications partner for TargetRecruit. The goal of integrating CloudCall into TargetRecruit’s staffing and recruitment platform is to improve candidate engagement while decreasing time-to-fill ratios.

 

TERN (TERN.L) 9.4p £25.4m

The investment company specialising in the Internet of Things, is pleased to announce that FVRVS Limited, FundamentalVR, a leading virtual reality training and data analysis technology platform, and one of Tern’s existing portfolio companies, has secured a significant new contract (£0.5m) to create a Virtual Reality Haptic Simulation platform for a new customer, which is a global pharmaceutical company.

This is the first of a planned series of virtual reality simulations to be designed by FundamentalVR to support the Client’s ambitions to accelerate the safe and compliant use of their products. Fundamental VR’s technology is now being used by an array of customer groups including:  Clinics/ medical centres, Device companies, Pharmaceutical companies .

 

Judges Scientific (JDG.L) 5,270p £328m

Wholly owned subsidiary Quorum Technologies Limited (“Quorum”) has today acquired 100% of the issued share capital of Moorfield Nanotechnology Limited (“Moorfield” or the “Acquisition”), a maker of coating instruments based in Knutsford, Cheshire.  The Board expects the Acquisition to be immediately earnings enhancing.

The purchase price of Moorfield, paid in cash at completion, amounts to £2.3m. This includes an earn-out based on Moorfield’s adjusted EBIT in the year to 30 June 2019, capped at £0.7m. An additional payment will be made to reflect any excess cash balances over and above the ongoing requirements of the business.  The Board expects such payment to be covered by the cash inherited at the completion date.

The consideration for the Acquisition has been financed from the Group’s £35m acquisition facility from Lloyds Bank Corporate Markets.

 

Webis Holdings (WEB.L) 1.35p £5.1m

On Tuesday 3rd December its US-based Advanced Deposit Wagering business, WatchandWager.com LLC (“WatchandWager”) signed an extension with the Board of Directors of the California Exposition & State Fair in Sacramento to continue its Cal Expo Harness Racing operations through to 1 May 2025. The extension reflects the good standing that WatchandWager holds with the track landlord and the regulators in California.  The renewal also includes a clause to extend the lease until 2030, should both parties wish to pursue it.  The renewal is especially significant given the recent positive momentum behind the introduction of regulated sports betting in the Golden State. Recent initiatives to drive this forward include California racetracks as being eligible to be licensed for sports betting.

 

Tiziana Life Sciences (TILS.L) 41.5p £56.7m

Initiation of a Phase I clinical trial in healthy volunteers with a proprietary oral formulation of Foralumab encapsulated in enteric-coated capsules. The primary objective of this single ascending dose (SAD) phase 1 study, being led by Dr. Tanuja Chitnis at the Brigham and Women’s Hospital, Harvard Medical School, Boston, MA USA, is to determine safety and tolerability of orally administered Foralumab. The clinical protocol also includes evaluation of pharmacokinetics to determine if there is any systemic absorption of Foralumab following oral administration.

“Oral administration of Foralumab in enteric-coated capsules is a novel approach to upregulate T regulatory cells (Tregs) that have the capability to cross-through blood brain barrier and provide clinical benefits. Successful demonstration of safety in this study will facilitate immediate evaluation of orally administered Foralumab in a phase 2 clinical study in patients with progressive multiple sclerosis, a neurodegenerative disease for which there are limited treatment options.

 

Loungers (LGRS.L) 203p £188m

Interim results for the 24 weeks ended 6 October 2019.  Loungers is an operator of 161 café/bar/restaurants across England and Wales .

  • Revenue increased 22.0% to £79.8m (2019: £65.4m)
  • Adjusted EBITDA (IFRS 16) of £14.7m, up 25.6% (2019: £11.7m)
  • Adjusted PBT (IFRS 16) of £2.6m (2018: pre-tax loss of £4.3m)
  • Net bank debt at period end of £29.3m reflects capital structure introduced at the time of the IPO.

On track to deliver 25 new site openings this financial year and going forward . Current trading—Continued to trade well and to outperform the market .

 

Advanced Oncotherapy (AVO.L) 38.5p £93m

Two-year collaborative research study.

Under the agreement, Advanced Oncotherapy plc (AIM:AVO) and Cleveland Clinic, a large academic medical centre in Cleveland, Ohio, USA will commence a two-year study to evaluate the target conformity of proton minibeams in comparison with X-ray stereotactic body radiation therapy (“SBRT”) and stereotactic radiosurgery (“SRS”).

The most challenging goal of radiotherapy is ensuring that only the cancerous tissue is targeted, avoiding the irradiation of healthy tissue. The use of a smaller beam means greater accuracy in targeting the desired tissue, which is essential when treating tumours near critical organs, particularly for the edge of the tumours.

 

Alien Metals (UFO.L) 0.175p £2.4m

Conditional agreement to acquire, a 100% interest in the former producing Elizabeth Hill Silver Project  from Karratha Metals Group Limited in Western Australia .    Elizabeth Hill Silver Project produced over 1,170,000 oz silver between 1998 and 2000

o  Exceptionally high mine head grade averaging 2,195 g/t Silver (70.24 oz/t). Consideration of 200m Shares and 50m warrants in Alien Metals, which KMG will distribute to its shareholders.

 

Agronomics (ANIC.L) 5.675p £6.5m

Placing and finals (FY Jun 19) update .  The Company expects to publish its Final Results on or around the morning of Friday 6 December 2019, shortly after which it expects to conclude the Placing.  Raising up to £20m at a proposed price of 5.5p equivalent to NAV/share at 30 Sep 2019.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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